Thursday 24 June 2021

Costa Rica’s medical devices cluster is in excellent health, despite cold economy

Medical devices sector represents almost a third of the value of exports. Companies have increased capacity, personnel, and profits in recent months.

The manufacturing cluster of medical devices in Costa Rica is enjoying excellent health, just when the rest of the economy is catching a cold.

“We can be proud that Costa Rica is one of the most important clusters in the world in medical devices,” said Juan José Chacón-Quirós, CEO of Establishment Labs.

Over the last three months, there have been announcements of extensions of production lines, hiring of new staff, and company, by a sector that represents one third of Costa Rica’s exports, amounting to US$3.25 billion last year, an increase of 19% over the previous year, reports La Republica (in Spanish).

- Advertisement -

Medtronic, the world’s leading company in technology, solutions, and medical services, was the last to announce its expansion, with the inauguration of its plant in the Coyol Free Zone, in Alajuela. The company opened operations in Costa Rica in 2015; Since then, it has tripled its operations to 500 employees.

Boston Scientific is another that expanded its operations; with the hiring of 600 in June, bringing its current workforce in Costa Rica close to 5,000, becoming the largest local employer in the medical device sector.

The list of companies in the sector includes Thermo Fisher Scientific, which opened a new 1,400 square meter distribution center last May, increasing capacity by 52%. The company is dedicated to the storage and distribution of laboratory supplies, protective equipment for cleanrooms and chemicals and hazardous materials.

The announcement of investments in higher production capacity is added to earnings, as is the case of Establishment Labs, a local company dedicated to the manufacture and export of breast implants, reported an annual growth of 58.2%, on the Nasdaq Stock Exchange.

- Advertisement -

Currently, the cluster of medical devices is made up of 92 companies, which totaled 24,600 jobs at the end of 2018.

The United States, Belgium, Canada, and Japan are the main customers for the purchase of these products made in Costa Rica.

- Advertisement -

We strive for accuracy in its reports. But if you see something that doesn’t look right, send us an email. The Q reviews and updates its content regularly to ensure it’s accuracy.

Related Articles

First five months of the year reflect recovery of Costa Rican exports

QCOSTARICA - The value of Costa Rica exports increased by 23%...

Services, medical industry and teleworking cushioned the fall in foreign investment

QCOSTARICA - In a pandemic year where global value chains were...


Today 50 years ago: Costa Rica and Panama entered into conflict over air routes

TODAY COSTA RICA - Original text published in La Nacion on June 23, 1971 - A conflict over air routes, has been unleashed between...

New tax exemptions would be the hook to attract high-tech and science companies

QCOSTARICA - Strengthen the attraction of Costa Rica to attract high-tech, innovative, and science companies to invest, is an initiative that stands out in...

Preventive operations to protect tourists visiting the Guanacaste Conservation Area

QCOSTARICA - The Ministry of Public Security (MSP) and the National System of Conservation Areas (SINAC) joined forces to prioritize ecological operations, which aim...

Today’s Vehicle Restriction June 18: 9 & 0 CANNOT circulate

Today, Friday, June 18, vehicles with plates ending 9 & 0 CANNOT circulate The measure is countrywide and applied between 5:00 am and 9:00 pm,...

Full court decides not to investigate or dismiss Emilia Navas

QCOSTARICA - Emilia Navas will not be removed from her position as attorney general, after calls for her to step down due to her...

New trends in coffee consumption challenge sector

QCOSTARICA - Changes in consumption habits in terms of times, types of preparation and specialties challenge the coffee sector. Most of the consumers in Costa...

First five months of the year reflect recovery of Costa Rican exports

QCOSTARICA - The value of Costa Rica exports increased by 23% in the first five months of the year, being the highest growth in...

Flight paralysis from Canada hits Costa Rica’s tourism

QCOSTARICA - The paralysis of flights from Canada last January hit Costa Rica's tourism sector, as Canada was the second source market for tourists...

The Best Sports To Play On A Beach

Costa Rica has some of the best beaches in the world. The coastline is blessed with golden sand, beautiful palm trees, and perfect blue...


Get our daily newsletter with the latest posts directly in your mailbox. Click on the subscribe and fill out the form. It's that simple!

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.