Market data and industry facts

Colombia’s biggest part of retail trade was generated with food: 15.9 billion US$. Pharmaceutical and

cosmetics products made up 2.8 billion US$. Bogotá is the biotech cluster of Colombia: With great

availability of human talent, a high amount of universities, research establishments and technology

centers. Food industry, food processing and packaging machinery


The pharma market
A rising burden of non-communicable diseases, an ageing population and improving rural access has

resulted in a hiking demand for medical treatment in Colombia which will continue to grow over the long

term. In 2014, Colombia·s healthcare market was valued at 27 billion US$. This figure is forecasted to

rise to 50 billion US$ until 2024, equating to a compound annual growth rate of 6.4%. Colombia’s

pharmaceutical sales are forecasted to rise from 4.4 billion US$ in 2014 to 6.2 billion US$ in 2024 while

the per capita spending for pharmaceutical products will increase from 90 US$ in 2014 to 113 US$ by 2024.


The cosmetic market
Colombia is rich of natural ingredients for the cosmetics and pharmacy industry. The country has been

recognized to be one of the main cosmetics and hygiene product supplier in the region. 

There is a growing demand for luxury goods such as cosmetics due to a growing per-capita income.

A lot of international companies produce in Colombia and need imported high quality machinery for their

production.


Laboratory technology
As a result of a growing demand for pharmacy and cosmetics there is also a growing demand for laboratory

technology. Colombia is an import market for laboratory technology as the domestic production is very limited.

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