Accessing the Latin American Market: the challenge for small Biotech and Medtech companies

December 30, 2019

Latin America is an attractive market for the life science and healthcare industry, given its growing and diverse economy. This region comprises 27 countries and a potential market of almost 700 million people.

Nevertheless, the different legal and institutional frameworks make market access for small and medium companies difficult and expensive. Also, understanding such a diverse regional markets is a challenge for any company that seeks to enter in Latin America.

Interestingly, cultural, language and idiosyncratic differences are important when dealing with regional authorities. Hence, understanding these local differences marks the distinction between a successful and a tedious process for entering the market.

 

Knowing and understanding the regional markets is the key for success

A considerable amount of Latin American professionals in the fields of medicine, biology and pharmacy have gained experience in Europe and USA. These creative scientists are used to deliver high impact results as independent and proactive project managers.

Many of them have returned to their countries, establishing a robust network in diverse fields. They know how to approach and engage reliable academic, governmental and business partners to achieve long-term and competitive strategies. They have the skills to inspire and empower entrepreneurs and innovators in Latin America, because they are entrepreneurs themselves.

Then, specialised consulting firms are surging with a full knowledge of the regional markets and a strong scientific background. For the benefit of local patients, these talented advisors are able to guide innovative companies, developing successful business strategy and high impact clinical research.

 

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