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Medical Equipment
A Top U.S. Export Prospect for Panama

May 2013

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Market Estimates

(in US$ millions)

2011

2012

2013est

2014est

Total Market Size

75.0

82.0

89.0

98.0

Total Local Production

0.0

0.0

0.0

0.0

Total Exports

0.0

0.0

0.0

0.0

Total Imports

75.0

82.0

89.0

98.0

Imports from the U.S.

38.0

43.0

49.0

54.0

The above statistics are unofficial estimates.

Overview

The medical equipment market in Panama continues to be strong as a result of increased demand by the public sector caused by new hospital and clinic projects as well as a growth in employees within the national social security system. Government spending represents more than 60% of the national market of medical equipment. The Panamanian economy has continued to grow and unemployment has reached historic low levels.

The private hospitals, although not showing as strong a level of growth, have kept a stable demand as they are always renewing equipment and facilities in order to remain competitive in a dynamic market. Many Panamanian doctors have been trained in the U.S. and are very familiar with U.S. equipment and medical practices. Most large private hospitals keep affiliation with U.S. hospitals and health organizations. However, competition from Europe and Asia has increased as those countries have implemented aggressive financing and marketing practices.

The recently implemented Trade Promotion Agreement between the U.S. and Panama should contribute to strengthen the U.S. market position against its main competitors.

Sub- Sector Best Prospects

Best prospects are electro medical equipment, monitoring equipment, imaging equipment and laboratory equipment.

Opportunities

The Ministry of Health is developing a strong program of hospital and clinic construction and the Caja de Seguro Social (Social Security organization) is building a new metropolitan medical facility in Panama City (Ciudad Hospitalaria). Additionally, the University of Panama announced the construction of a new facility for medical training. All of these projects will have a significant impact on the demand for medical equipment.

Web Resources

For More Information

The U.S. Commercial Service in Panama can be contacted via e-mail at: Enrique.Tellez@trade.gov;

Phone: 011-507-317-5080; or visit our website: http://www.export.gov/panama.