Colombia’s Electronic Medical Records Industry Growth | Opportunities and Upcoming Projects
Market Entry - Electronic Medical Records Industry in Colombia: Analysis of Growth, Trends and Progress (2016 - 2021)

PUBLISHED

DEC 2017

Market Entry - Electronic Medical Records Industry in Colombia: Analysis of Growth, Trends and Progress (2016 - 2021)

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About the Market

The rise in diseases, demand for quality care by patients and the increasing number of hospitals and clinics are paving the way for the overall growth of the global electronic medical record technology. The advent of integrated healthcare services delivery platform with the help of EMR technology has led to the wide popularity of EMR software among hospitals and clinics. Currently, electronic medical record technology is widely used in North America due to the various initiatives taken by the government in the region through ‘The Health Information Technology for Economic and Clinical Health (HITECH) Act of 2009’, which directed the Office of the National Coordinator (ONC) for Health Information Technology to promote the adoption and meaningful use of electronic medical records in the region. Also, there is an incentive plan for hospitals and clinics in the U.S. for facilitating the ‘meaningful use’ of EMR technology. The developed nations of North America EMR market is followed by the Western Europe market as numerous players are expected to enter the North American market over the forecasted period. The emerging regions of Asia-Pacific are expected to be the next lucrative market for EMR companies. Some of the key players identified in the global electronic medical record market report include Cerner Corp, McKesson Corporation, Medical Information Technology Inc., Epic Systems Corporation, NextGen Healthcare Information Systems LLC, Greenway Health LLC and GE Healthcare.

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 Electronic medical records Industry (USD millions)

                4.1 By Component  

                4.2 By End User

                4.3 By Functionality   

                4.4 By Applications  

                4.5 By Type

                4.6 By Mode of delivery

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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