Healthcare expenditures in Argentina traditionally account for approximately 9 to 10 percent of GDP, among the highest in the region. However, the current administration’s focus on fiscal austerity measures may result in cuts to the public healthcare budget.
The Argentine medical equipment and device market mostly relies on imports, which account for around 80 percent of the total market. According to industry sources*, imports of medical devices amounted to approximately $750 million between June 2023 to June 2024. The total market for medical devices was approximately $902 million in 2023. For this report, medical devices include consumables, diagnostic imaging, dental, orthopedics and implants, patient aids, and other devices.
Imports grew consistently after COVID-19 and may continue to grow beyond 2024 with a projected economic recovery throughout 2025.
The United States is traditionally a leading supplier of imported medical products, with an import market share of 18 percent in 2023, second to China, with a 24 percent market share. The U.S. leads in market share for high-end technology products, while China leads in standard products.
Leading Sub-Sectors
The U.S. is a leading supplier of suturing materials, imaging parts and accessories, orthopedic prosthetics, and patient aids. Potential also exists for stents, cardiac valves, pacemakers, and other specialized disposables.
Opportunities
The Argentine government, with international loans from multilateral development banks, will continue to provide funding to support government programs particularly concentrated on primary care, maternal care, communicable and immuno-preventable diseases, and healthcare infrastructure under a national universal healthcare coverage plan. This plan emphasizes efficiency, accessibility, and modernization through e-health technologies.
Medical products and technology developed and produced in the United States are highly regarded in Argentina. This is particularly relevant for U.S. exporters that offer high-quality products at competitive prices. In this competitive market, much of the demand for mass-market technologies is already being met.
All imports of medical products need to be carried out by an appointed registered medical equipment importer, with the Argentine food, drug, and medical equipment regulatory agency, ANMAT, the Argentine equivalent of the FDA. Companies should partner with a local company to participate in procurement tenders.
Resources
National Administration of Medicine, Food, and Medical Technology - ANMAT (Spanish)
* Source: Argentine Chamber of Medical Technology - CADIEM (Spanish)
For additional information on this industry, including market analysis, trade events, contacts, and the products and services that the U.S. Commercial Service can provide to help you succeed in the Argentine market, please contact our Healthcare Industry Specialist Liliana Paz