Columbian Medical Market - Global Sales Mentor | Zach Selch

25 Apr 2020 · 2 min

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1:44

In this presentation Zach Selch outlines the Colombian medical market, beginning with macro‑level demographics: a population of roughly 50 million, a $700 billion GDP and a per‑capita GDP of about $14 K. He emphasizes the stark income split, with a sizable upper‑middle‑class and wealthy segment resembling European markets, alongside a large low‑income population. This socioeconomic divide is reflected in health outcomes: 21‑23 % of children suffer from malnutrition, communicable diseases are prevalent, and violence ranks among the top causes of death for working‑age adults. Despite these challenges, Colombia hosts some of the region’s best hospitals—half of Latin America’s top facilities are located there—and offers very high‑quality care. The high‑end segment is driven largely by medical tourism, especially in affluent cities such as Bogotá, Medellín, and Cartagena. Selch positions the market as both complex and promising for international sales expansion.

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So the Colombian medical market is really one of those very interesting markets. Let's look at the country. About 50 million people, about $700 billion GDP, which brings us to a per capita GDP of about $14K. And you got to keep in mind that that's sort of split. So you have a chunk of people who are upper middle class and and rich and who are much more like you would see in Europe or the richer countries. And then you also have a lot of people who are poor. And then you're gonna see that reflected in the healthcare. So when you see what people die from here, you have about 21%— 21 to 23% of the kids in the country have malnutrition. There are a lot of communicable diseases. 1 in 5 people, the 5th highest cause of death for working age Age people in Colombia's age. Violence is a major killer here. So on the one hand, you have that. On the other hand, you have some of the best hospitals in the world, and you have very, very high levels of healthcare. So it's a very, very interesting market. Let's take a look in general. So you have several markets, several cities in Colombia that are large, healthy, Very affluent, like Bogotá, like Medellín, Cartagena, places like that. What really drives the high end of the medical market here in Colombia is the medical tourism. Okay, half of the best hospitals in Latin America are in Colombia.
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