Costa Rica’s economy has seen a strong push from its medical device industry this year, which now stands as the country’s primary export category. Data from the Foreign Trade Promoter (Procomer) shows that goods exports totaled $19.028 million through October, a 16% rise compared to last year. Medical devices led this expansion with a 30% increase, making up 48% of the total.
This sector includes products like needles, catheters, and prosthetics, which companies manufacture here and ship worldwide. Sales in precision and medical equipment reached $9.199 million by October, highlighting how these items have overtaken traditional exports such as agricultural goods. For instance, pineapple, once a key player, now represents just 6% of exports.
The growth started early in the year. From January to July, the sector expanded by 34%, according to Procomer reports. This momentum carried through the third quarter, where medical devices generated $2.211 million, followed by hybrid integrated circuits at $703 million and prosthetic articles at $293 million. Analysts point to steady demand from major markets like the United States, which takes in the bulk of these products.
Several multinational firms fuel this success. Boston Scientific tops the list of exporters, with operations that employ thousands. Other key players include Abbott Medical, Edwards Lifesciences, Hologic Surgical Products, and Baxter. Together, the top 10 companies in this field produced over $8.600 million in exports by mid-year. These businesses operate under the free trade zone regime, which offers tax benefits and draws foreign investment.
Costa Rica ranks as the second-largest exporter of medical devices in Latin America, behind Mexico. It also serves as the fifth-largest supplier to the U.S. market. More than 90 multinational companies in the medtech space call the country home, including 13 of the world’s top 20 original equipment manufacturers. This concentration has created over 54,500 jobs, a 216% jump over the past decade. The industry contributes 13% to the gross domestic product and accounts for 43% of national exports.
Government officials and trade experts credit strategic policies for this position. Our country has built a solid industrial base over decades, starting with early entrants like Baxter in the 1980s. Recent efforts focus on expanding markets and improving supply chains. In September, Procomer highlighted how the sector’s performance helped offset slower growth in other areas, such as electronics.
Exports to North America grew by 24%, driven by medical devices alongside tires and sugar. Shipments to Europe increased by 16%, with these products playing a central role. Asia saw a 19% uptick, also tied to medtech demand. Overall, Procomer projects total exports of goods and services to hit a record $34,000 million for 2025, with medical devices at the forefront.
Challenges remain, though. Global supply chain issues and potential U.S. tariffs have prompted calls for exemptions. Leaders in the sector, including those from Boston Scientific and Philips, emphasize the need for stable trade relations to sustain growth. Despite these hurdles, the industry’s trajectory points to continued dominance.
Local communities benefit from the jobs and economic activity. In areas like Alajuela and Cartago, where many factories operate, residents find opportunities in manufacturing and related services. Training programs from institutions like the National Learning Institute prepare workers for roles in assembly, quality control, and engineering.
As the year closes, Costa Rica’s medtech sector shows no signs of slowing. It has transformed our nation’s trade profile, moving beyond coffee and bananas to high-tech health solutions. This shift underscores the country’s ability to adapt and compete on the global stage.
