USA, China and the Netherlands markets are Costa Rica's preferred destination for MedTech products
• Medical devices pave the way as Costa Rica's top goods export with a total value of US$2,758 million by October 2018.
• Sector’s main companies have established in Alajuela, Cartago and Heredia.
San José, Wednesday December 5th, 2018. The United States, China and the Netherlands are three dynamic markets that have been important to the medical devices sector in Costa Rica. For second year-round, it continues to be Costa Rica’s top goods export with 29% of all its exports, equivalent to $2,758 million.
This is based on October’s goods exports report, submitted by PROCOMER and COMEX. The sector’s growth is $412 million more than 2017’s same period, which is 18% above. With this increase, the sector exceeds its own results obtained in the first semester, when it reached 27% of the country's total exports.
The Life Sciences sector has over 72 companies established in Costa Rica which employ over 22,000 collaborators, 54% of them are women. Most of these companies are located in Alajuela, Cartago, and Heredia, which give more opportunities to different locations.
“The Life Sciences companies have found in Costa Rica highly specialized human talent, a wide range of suppliers and an excellent location where to invest, which allows them to continue growing and creating new opportunities. In our country, these companies are producing more sophisticated and high-tech devices, which are sold to the most demanding markets such as USA, Asia and Europe,” said Jorge Sequeira, CINDE’s Managing Director.
Costa Rica’s high-quality medical devices outstand in the world. In the last years, Boston Scientific and Baxter in Costa Rica obtained the Shingo Award, acclaimed by Business Week magazine as the “Manufacturing Nobel Prize”.
Costa Rica’s Life Sciences industry has 6 of the 10 biggest companies from the cardiovascular sub-sector. It is the second largest exporter of Medical Devices in Latin America and is among the top 7 suppliers to the US market.
CINDE is a private, non-profit organization that has been committed to Costa Rica's sustainable development and social progress for 35 years, through the attraction of foreign direct investment in manufacturing industries and high value-added services that generate quality jobs, knowledge transfer and productive linkages. CINDE also collaborates in strengthening the Costa Rican business climate in a way that fosters the growth of valuable activities in the country, improving the preparation of local talent, and generating employment and greater opportunities for its population in the different communities of the country.
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