Colombia Medical Device Market Size, Share & Industry Analysis By Type (Orthopedic Devices, Cardiovascular Devices, Diagnostic Imaging, In-vitro Diagnostics, Minimally Invasive Surgery (MIS), Wound Management, Diabetes Care, Ophthalmic, Dental, and Others), By End User (Hospitals & Ambulatory Surgery Centers (ASCs), Clinics, and Others), and Forecasts, 2025-2032

The Colombia medical device market size was valued at USD 1.49 billion in 2024. The market is projected to grow from USD 1.58 billion in 2025 to USD 2.34 billion by 2032, exhibiting a CAGR of 5.8% during the forecast period.

Medical devices encompass a broad range of medical equipment, including echocardiography machines, blood pressure monitors, surgical staplers, and others. The expansion of the medical equipment industry in Colombia is driven by the growing burden of chronic conditions and the increasing number of patients seeking diagnosis and treatment at hospitals and other healthcare centers.

• For instance, as per the data published by the World Health Organization (WHO), in 2022, around 117,620 new cancer cases were observed in Colombia, and the prevalence of cancer in the past five years was around 303,656.

Moreover, increased awareness of technologically advanced treatment devices among patients has led to growing hospital visits for disease diagnosis and treatment. Further, high treatment rates surge the demand for these devices in hospitals and other healthcare settings. Thus, the rising prevalence of chronic diseases among the population and increased demand for such devices across healthcare centers have propelled the market growth.

• According to an article published by the International Society for Minimally Invasive Cardiothoracic Surgery in August 2021, around 600 and 1,300 cardiac surgeries were performed yearly, of which 20% to 30% are done as Minimally Invasive Cardiovascular Surgeries (MICS) at the major cardiovascular surgical centers in Colombia.

Furthermore, key players such as Medtronic, Boston Scientific Corporation, and Abbott have been focusing on partnerships and collaborations to strengthen their presence in the market.

MARKET DYNAMICS

MARKET DRIVERS

Rising Healthcare Expenditure on Medical Devices by Government Agencies to Propel Market Growth

The prevalence of chronic disorders is high among the population in Colombia. Moreover, the geriatric population suffering from debilitating conditions such as diabetes, cancer, and Chronic Obstructive Pulmonary Disease (COPD) is increasing nationwide.

Thus, several government agencies are now focusing on the development of Colombia's healthcare infrastructure, and supply of such devices across the healthcare centers. Similarly, several government bodies are also focusing on organic strategies such as rising healthcare expenditure on the production and deployment of these devices across the country.

• For instance, as per the data published by the International Trade Administration in 2023, Colombia has the third-largest medical device market. Medical equipment accounts for 5% of the total health expenditure in the country.

Thus, rising healthcare expenditure on medical devices across the country and growing government initiatives such as health promotion, Free Trade Agreements (FTA) with international economies, and emphasis on extensive distribution channels for supply of medical equipment will further augment the Colombia medical device market growth.

• For instance, according to the World Bank data, in Colombia, healthcare spending accounted for 7.69% of its Gross Domestic Product (GDP) in 2023, whereas this proportion was 7.57% in 2022.

MARKET RESTRAINTS

Limited Medical Device Production by Key Players to Restrain Market Growth

The Colombia medical device market is highly dependent on import of medical equipment in Colombia from developed economies such as the U.S., Canada, and Germany. Similarly, the country highly emphasizes the procurement of technologically advanced products such as surgical instruments, diagnostic imaging equipment, and orthopedic & prosthetic devices.

• According to an article published by the International Trade Organization (ITA) in 2022, the device imports by Colombia accounted for about 83.0% of the medical device market in 2021.

The domestic manufacturers in the country primarily focus on limited production of medical consumables and low-technology devices. Moreover, lack of technologically advanced infrastructure for the manufacturing of such devices further limits its production in the country.

Thus, small-scale domestic production of medical products by market players and high reliance on imports from other developed countries may hamper the market growth.

MARKET OPPORTUNITIES

Growing Focus of Market Players on R&D for New Product Launches Creates Lucrative Opportunity

Market players have been focusing on R&D for the development and launch of effective and advanced equipment in the country.

• For instance, Viatris Inc. initiated a phase 3 clinical trial in August 2021 to study the efficacy of Selatogrel when self-administered through prefilled syringes among patients with symptoms of acute myocardial infarction (AMI). The study was completed in August 2025. The study is being conducted at 490 locations, including Colombia.

The strong emphasis of the market players on conducting clinical trials in the country is expected to create awareness regarding these products, thereby fueling the market growth during the forecast period. 

MARKET CHALLENGES

High Dependency on Import of Medical Equipment Acts as a Challenge for Growing Product Adoption

Heavy reliance on foreign equipment makes the market vulnerable to currency fluctuations, trade delays, and cost inflation, thereby limiting the adoption of devices in the country.

Stringent Regulatory Scenarios Limits Market Growth

The Colombian regulatory authority for medical equipment requires adherence to strict documentation, classification, and safety standards, which can slow time-to-market for new entrants.

Gaps in Accessibility of Medical Equipment Deters Market Growth

While urban regions have access to advanced devices, rural and underserved areas often lack infrastructure and funding, limiting the penetration of high-end technologies.

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COLOMBIA MEDICAL DEVICES MARKET TRENDS

High Emphasis by Government on In-Vitro Diagnostic Tests across the Country is an Emerging Market Trend

After the COVID-19 pandemic, the Colombian government focused on increasing the routine diagnostic tests and its availability across the country due to rising prevalence of infectious diseases among the population. Moreover, the country's healthcare agencies emphasized increasing the number and presence of in-vitro diagnostic test laboratories across several healthcare settings. Also, rising awareness of infectious diseases among the population led to a surge in patient visits across hospitals and diagnostic centers.

As per WHO estimates, in 2020, Colombia had the capacity to process 28,204.0 PCR tests daily in a network of 94 laboratories distributed across 30 departments of the country.

Moreover, several public health agencies, such as World Health Organization (WHO)/Pan American Health Organization (PAHO), entered into collaborations with the Colombian government to help access and expand the presence of in-vitro laboratories and diagnostic test capacity across the country.

• According to an article published by NCBI in 2022, Colombia reached a national maximum test capacity of 92,070 PCR samples per day in 2022.

Other Trends

Increasing Infrastructure Development to Enhance Treatment Facilities

Government investment in public hospitals and clinics across major cities and rural areas is increasing the demand for modern medical technologies.

Growing Digital Expansion to Augment Market Expansion

There is a growing adoption of telemedicine, AI-driven diagnostics, wearable monitoring devices, and minimally invasive tools as part of Colombia's digital health transformation.

SEGMENTATION ANALYSIS

By Type

Increased Demand For Convenient Self-Administration Insulin Devices To Boost Diabetes Care Segment Growth

Based on type, the market is segmented into orthopedic devices, cardiovascular devices, diagnostic imaging, in-vitro diagnostics, minimally invasive surgery (MIS), wound management, diabetes care, ophthalmic, dental, and others.

The diabetes care segment is expected to grow at the fastest CAGR during the forecast period. The segment’s growth is attributed to the growing burden of diabetes, which has been fueling the demand for convenient self-administration insulin devices.

• According to the World Bank statistics, the diabetes prevalence among individuals aged 20-79 years in Colombia was reported at 8.3% in 2021.

The diagnostic imaging segment is projected to register a significant CAGR owing to the rising number of routine diagnostic screening tests among the population and growing adoption of imaging devices across healthcare settings, further propelling the segment growth.

• According to Organization for Economic Co-operation and Development (OECD) statistics in 2021, an average 6.0 computed Tomography (CT) scans were performed per one million inhabitants in Colombia.
• According to data published by Latin America Data Hospital Data 2022, a total of 1,574.0 X-ray equipment are available in Colombia.

Also, the orthopedic devices and cardiovascular devices segments are anticipated to grow significantly due to rising burden of cardiac-related and orthopedic disorders amongst the Colombian population.

• According to an article published by NCBI in 2022, the pooled incidence of Rheumatoid Arthritis is estimated to be 11.0% per year in Colombia.

The other segment accounted for the largest market share in 2024. This dominance is attributed to domestic players' rising production of medical products and growing emphasis on medical device approval by regulatory authorities in Colombia. Moreover, increasing investments in the R&D of technologically advanced devices by key players will augment the production of these devices in the country, further propelling the segment share.

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By End User

Rising Number of Hospitals & Ambulatory Surgery Centers (ASCs) to Propel Segment Growth

Based on end user, the market is segmented into hospitals & Ambulatory Surgery Centers (ASCs,) clinics, and others.

The hospitals & Ambulatory Surgery Centers (ASCs) segment accounted for the highest Colombia Medical Device market share in 2024. The increasing patient population suffering from chronic conditions, and the rising hospitalization rate in Colombia propelled the segment growth. Moreover, rising emphasis on public-private partnerships for developing modernized hospital infrastructure, such as hospitals and ASCs among private players and government bodies, are primarily responsible for the growing demand and adoption of healthcare devices in these settings.

• For instance, according to Hospiscope 2022 data, Colombia's total number of hospitals was 3,464 in 2022.

The others segment is projected to grow at a substantial CAGR during the forecast period. The rising number of patient visits to healthcare centers, such as nursing homes and long-term care centers, in Colombia leads to the segment growth. These centers offer treatment for different diseases and are expected to drive the growth of the others segment during the forecast period.

COMPETITIVE LANDSCAPE

KEY INDUSTRY PLAYERS

Collaborations among Market Players to Propel Market Development

Colombia is the third largest medical device market in Latin America after Brazil and Mexico. The market is fragmented, with leading players such as Medtronic, Boston Scientific Corporation, and Abbott. These market players are adopting strategies such as collaborations and partnerships to develop technologically advanced devices for patients suffering from chronic diseases. Thus, such initiatives of market players coupled with a rising emphasis on distribution networks to expand access to existing product portfolios will propel market growth.

• In March 2023, Medtronic plc and NVIDIA Corporation announced their partnership to accelerate the development of AI in the healthcare system and bring new artificial intelligence (AI)-based solutions into patient care.

Other prominent market players are Siemens Healthineers, GE Healthcare, PAVmed Inc., and Stryker. A significant rise in the prevalence of chronic diseases, rising market authorizations by regulatory agencies, and favorable reimbursement scenario for high-end consumables in Colombia are projected to boost the market growth.

LIST OF KEY COLOMBIA MEDICAL DEVICE COMPANIES PROFILED

• Medtronic (Ireland)
• Abbott (U.S.)
• Johnson & Johnson (U.S.)
• Stryker (U.S.)
• BD (U.S.)
• Boston Scientific Corporation (U.S.)
• Siemens Healthineers GmbH (Germany)
• F. Hoffmann-La Roche Ltd (Switzerland)
• PAVmed Inc. (U.S.)
• Fresenius SE & Co. KGaA (Germany)

KEY INDUSTRY DEVELOPMENTS

• July 2025 – Medtronic announced its partnership with Koninklijke Philips N.V. to expand access to patient monitoring technology globally.
• August 2024 – Abbott announced its partnership with Medtronic for the integration of Abbott’s FreeStyle Libre technology with Medtronic’s automated insulin delivery (AID) and smart insulin pen systems for the development of an advanced continuous glucose monitoring (CGM) system.
• January 2023 - Abbott announced the U.S. Food and Drug Administration (FDA) approval for the company's latest-generation Transcatheter Aortic Valve Implantation (TAVI) system, Navitor, to treat people with severe aortic stenosis who are at high or extreme risk for open-heart surgery.
• February 2023 - Siemens Healthineers AG and Unilabs (a leading diagnostic services provider) announced a multi-year agreement. Unilabs invested in Siemens Healthineers top-notch technology and will acquire more than 400 laboratory analyzers to improve its laboratory infrastructure further to offer unparalleled service to its customers.
• January 2022 - Stryker entered into an agreement to acquire Vocera Communications, a leading platform in the digital care coordination and communication category, to expand its medical division.

REPORT COVERAGE

The Colombia medical device market forecast research report provides a detailed market analysis and focuses on crucial aspects such as medical device manufacturers, products, and end users. Additionally, it offers insights into market trends, key industry developments such as mergers, partnerships, and acquisitions. In addition to the factors mentioned above, the report includes the factors that have contributed to the market's growth in recent years with a regional analysis of different segments.

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Report Scope & Segmentation