Colombia’s Diagnostic Imaging Market and its Growth, Trends, Progress, Challenges, Opportunity and Upcoming Projects
Market Entry - Diagnostic Imaging Market in Colombia: Analysis of Growth, Trends and Progress (2016 - 2021)

PUBLISHED

DEC 2017

Market Entry - Diagnostic Imaging Market in Colombia: Analysis of Growth, Trends and Progress (2016 - 2021)

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About the Market

The diagnostic imaging techniques market is driven by the growing awareness among people about early disease diagnosis, improving healthcare expenditure in emerging markets, and a high number of ongoing research activities across the globe. Globally, among the diagnostic imaging techniques, ultrasound is the most frequently used procedure, followed by X-ray, CT, MRI, and nuclear medicine, making diagnostic imaging the highest shareholder in the market. The high cost of diagnostic imaging systems, imposition of excise tax on the sale of medical devices and risk of radiation exposure, limiting the usage of certain diagnostic imaging systems, are factors hampering market growth. The Asian and Latin American countries represent the fastest growing markets due to enhanced government support and rising industrial and academic partnerships for pre-clinical research. Factors such as economic slowdown and pricing pressures may compel companies to focus on the Asian markets. Analogic Corporation, GE Healthcare, Philips Healthcare, Siemens Healthcare, Toshiba Medical Systems are some key players.

About the Geography

Colombia is the third largest country in Latin America with a very good education system and literacy rate. It has huge petroleum reserves and mineral sources, which contribute to its high GDP. The presidential republic government is a stable one as compared to other Latin American countries. The country has a seen a consistent growth in the last two decades and is the best country in Latin America for ease of doing business. It also has many trade agreements with the EU and is located at strategically with modern port facilities, which provide the country access to major markets, help in the rapid expansion of extractive industries, lower the unemployment rate, and kept the inflation in check.

The government has 13 trade agreements in force with CAN, Mercosur, Caricom, G3, EFTA, US-Colombia Trade Agreements and is currently negotiating 8 more. The country has been facing challenges like corruption, terrorism, and poor infrastructure. The difficult geography and poor transport infrastructure are not helping the government either but haven’t slowed down development.

Colombia’s credit rating was recently raised to Investment Grade by Moody & Standard & Poor.

 

Component Name

Unit

GDP (USD billion)

292

GDP Annual Growth Rate

2

GDP Per Capita

7448

Unemployment Rate

9

Inflation Rate

7.27

Consumer Price Index (CPI)

133

Interest Rate

7.75

Balance of Trade (USD billion)

-1.16

Business Confidence

7.9

Ease of Doing Business

54

Competitiveness Rank

61

Corruption Rank

83

Consumer Confidence

-6.6

Consumer Spending (USD billion)

1315.66

Corporate Tax Rate

25

Sales Tax Rate

16

 

The Market Entry Series

Exploring global markets is now recognized as the shortest way to ensure high time to efficiency conversion, when trying to expand revenues past domestic markets, for firms both large and small. Our market entry series, priced suitably low contains the essentials of all the parameters (Refer: Table of Contents) you must be apprised of before you can have a well informed contemplation of a business opportunity in your choice of industry, in your choice of geography.

1. Introduction

                1.1 Scope of the Report

                1.2 Regional Analysis

                                1.2.1 PESTLE Analysis

                                1.2.2 Analysis of Ease of Doing Business

2. Market Dynamics

                2.1 Drivers

                2.2 Restraints

                2.3 Opportunities

3. Market Demand Analysis

                3.1 Socio-Economic Segmentation

                3.2 Demographic Strengths & Weaknesses

                3.3 Spending Patterns

                3.4 Target Market Identification

4. Market Size of Diagnostic Imaging Market (USD millions)

                4.1 By Type

5. Market Entry

                5.1 Market Entry: The Strategy

                                5.1.1 Types of Entry Modes, by Market Entry Objectives

                                5.1.2 Competition Analysis

                                                5.1.2.1 Market Share

                                                5.1.2.2 Strategies Adopted, Recent Events 

                                5.1.3 Pricing Strategy

                                5.1.4 Supply Chain Analysis

                                                5.1.4.1 Trade (Import-Export Analysis)

                                                5.1.4.2 Distribution Network & Retail Analysis

                5.2 Market Entry: The Administration

                                5.2.1 How to Register a Company (Flowchart)

                                5.2.2 Registration Processes 

                                                5.2.2.1 Ministries Involved

                                                5.2.2.2 Criteria and Conditions

                                5.2.3 List of Forms & Documents

                                5.2.4 Product Control Guidelines specified by the Government

6. Sources

7. Disclaimer

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