Innovation, education and thirst for knowledge are embedded in our DNA… So much so, that over 250 high-tech manufacturing companies, more than 60 of which are medical device producers, have made Costa Rica their hub for creating a competitive, solid business operation.
"Costa Rica has emerged as a leading location globally, outside of Europe, for MedTech investment, attracting 47 MedTech projects over a five-year period including 18 in 2012, and ranking 7th globally in terms of the number of manufacturing projects ahead of the Netherlands, Brazil and Mexico, between 2008 and 2012." (MEDTECH REPORT 2014 – Oxford Intelligence)
The country has evolved over the years from producing Class I to Class III medical devices including aesthetics, cardiovascular, dental, endoscopy, medication delivery systems, neuro-endovascular, neuro-modulation, optics, orthopedics/sport medicine/ENT & surgical/diagnostics components; which now serve markets in America, Europe, Asia and Oceania. Costa Rica is now the second largest exporter of Medical Devices in Latin America and among the top 7 suppliers to the US market.
The Life Sciences sector has continued to experienced incredible dynamism in Costa Rica, growing to represent 23% of the country´s total exports in 2013. Medical device exports specifically have grown over 190% in the last decade and are expected to become the #1 export product by 2015.