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Huge Markets For Devices Emerging In Brazil, Latin America

Nearly stalled Western economies have driven corporations of all stripes to ponder the market potential promised by the so-called BRIC countries (Brazil, Russia, India and China). The medical device industry is no exception. The BRIC nations present a challenging but lucrative opportunity for companies willing to deviate from traditional markets to access economies with GDPs that place them in the top 15 economies in the world. Of the BRIC nations, China has become the number one destination for health care technology companies in the minds of CEOs of commercial-stage medical device companies. But executives staring only on China might be missing another compelling opportunity that literally rests under their noses: Latin America.

Slow, nearly stalled, Western economies have driven corporations of all stripes to ponder the market potential promised by the so-called BRIC countries (Brazil, Russia, India and China). The medical device industry is no exception. The BRIC nations present a challenging but lucrative opportunity for companies willing to look beyond traditional markets to find lesser known economies that place among the top 15 in the world. The medical device industry is no exception. Globally, the $250 billion-plus medical device industry has grown roughly 4% over the last decade. Compare that to China and Latin America, each with an $8 billion-plus device market that has been growing 10% per year over the same time period, dwarfing established markets like the United States, Germany, and Japan. (See Exhibit 1.)

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