Costa Rican Medical Devices Cluster

By IDEAS

Medical devices sector companies have joined forces to strengthen and promote research and development, via creation of the Costa Rican Medical Devices Cluster. With support from CINDE, the initiative will act as one more mechanism to attract investment and position Costa Rica globally in the industry.

The Costa Rican Medical Devices Cluster provides support for previous efforts that sector companies had, for years, already been carrying out. The companies’ association, as a joint effort, is also enhanced by Costa Rica’s strategic vision, which declares the Life Sciences and Wellness industry, including the medical industry, to be of public interest under Decree No. 42334 S -COMEX-MCSP.

“This cluster’s formation will take advantage of the country's talent and capacity to take the sector to the next level. Our mission will also be to position Costa Rica as a leading nation, not only in manufacturing, but also in design, research, and innovation, all at a global level.

“Costa Rica is distinguished for its quality of human talent and, thanks to this, medical devices are the country's main export product. Additionally, Costa Rica’s experience has enabled the industry’s productivity per employee to increase by 58% since 1999, reaching $119,000 per employee,” explained Federico Rivera, president of the Costa Rican Medical Devices Cluster.

This cluster brings together the sector’s main companies, which in 2021 dominated 36% of exports in Costa Rica, with $5.2 billion. They also create 43,637 formal jobs in the country. Their formation takes a comprehensive development approach under the pentagram model, which involves strengthening five key sectors in the ecosystem: companies, academia, government, entrepreneurs (startups), and capital investors.