Market Intelligence
Medical Devices Peru

Peru Medical Devices

U.S. suppliers of diagnostic imaging and emergency room equipment are encouraged to explore the Peruvian medical device market. 

The government’s attempt (pre-COVID-19) to develop the health sector has been reflected in its spending. Peru’s 2019 budget included $5.4 billion for the health sector, a 13.7 percent increase from the $4.8 billion allotted in 2018. Recent developments have proven this to be gravely inadequate and the sector remains poorly resourced. Its health budget is one of the lowest in South America; the average investment in health is only 4 percent of GDP.

As of this report, Peru is proportionately the most affected by COVID-19 of all Latin America and led the world in deaths per capita despite being one of the first countries in the region to implement strict measures such as closing country´s borders and all airports, mandating a quarantine and continuing to restrict travel.

Peru’s health system has five main entities: 1) The Ministry of Health (MINSA) is the main publicly-funded healthcare provider, serving 60 percent of the population through a network of public hospitals and clinics. MINSA offers Seguro Integral de Salud (SIS), the main public insurance, 2) EsSalud, the national social security program, is funded by payroll taxes and provides services to 30 percent of all Peruvians. The remaining 10 percent of the population receives services from the 3) Armed Forces, 4) National Police, and 5) the private sector.

Market Entry

  • Since the United States - Peru Trade Promotion Agreement (PTPA) came into force in 2009, most of the medical devices/equipment and pharmaceuticals enter Peru duty-free, provided a U.S. certificate of origin is presented to Peruvian customs.
  • U.S. companies must register their products in Peru by partnering with a local distributor who has the ability to register through the Dirección General de Medicamentos, Drogas e Insumos (DIGEMID).
  • Aside from obligatory registration, working with a local distributor is beneficial due to Peruvian preferences to buy locally from someone who can provide after-sales services.
  • To succeed in the Peruvian market, U.S. firms should offer competitive pricing. Peruvian buyers recognize the value added and prefer modern technology with strong post-sales technical and parts support. All marketing materials and product information should be provided in Spanish.

Over the past few years, Peru has made some progress in improving healthcare infrastructure, expanding access to care, and modernizing public institutions, with the stated goal of universal coverage by 2021. However, the COVID-19 pandemic has laid bare the severe inadequacies and shortfalls of the Peruvian healthcare system which has been completely overwhelmed. There remains a dire need for facilities and trained personnel to improve equality of health outcomes in rural and urban areas where disparate quality of access and care is pronounced. Ernst & Young Peru estimates demand for 5,000 additional hospital beds, more with the COVID-19 pandemic. Mobile and temporary clinics, chatbots, ventilators, oxygen, specialized treatment medicines, and personal protective equipment is also needed to pave the way for a quick and comprehensive response to COVID-19 in Peru.

A growing middle class is increasingly turning to the private sector for healthcare and has higher expectations of healthcare providers. About 2 million people, 6.5 percent of the total population in Peru are aged 65 or older, demands for quality elder care and treatment for cancer, cardiovascular diseases, and diabetes exist. In stark contrast to the public system, the private healthcare sector has been particularly dynamic, having experienced significant growth in the past five years, buoyed by rising insurance penetration rates. Private investment in the sector has recently peaked, reaching $400 million and adding approximately 1,100 hospital beds. The government is expecting to add 7,000 new hospital beds, and rehabilitate, construct, and outfit 206 primary care centers, 170 provincial hospitals, 23 regional hospitals and 13 national hospitals.

The government’s prioritization of the country’s healthcare system and the interest of private companies to invest more in specialized equipment, will yield opportunities for foreign medical device manufacturers. These opportunities are augmented by the country’s low export profile, where local manufacturing is limited to consumables, basic electro diagnostics, and hospital furniture.

Digitalisation and telemedicine, or telehealth, are also priorities for officials in the health sector. In February 2019 MINSA approved a new telehealth framework to promote the modernisation of health benefits through ICT. The framework aims to bring all health institutions – private and public – under standardised norms and allow health professionals to receive information remotely. As of October 2018 some 250 health facilities were already connected to the telehealth network.

Best prospects include diagnostic imaging equipment as the country invests in its radiology infrastructure. Other prospects include emergency room equipment and products, orthopedics, patient aids and dental products.

Key Industry Events Tecnosalud: International trade show of goods and services related to the healthcare sector.

Date: To Be Determined. Organized by the Lima Chamber of Commerce.

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