A new analysis of the medical devices sector confirms that Costa Rica has emerged as one of the world's most dynamic, innovative and competitive hubs for the manufacturing and export of medical technology. According to The World's Health Is Made in Costa Rica, a study conducted by the Trade & Investment Promotion Agency of Costa Rica (PROCOMER), the country recorded an average annual growth rate of 22 per cent in medical device exports between 2020 and 2024, reaching $8.675 billion and consolidating its position as the 10th largest exporter globally and the world's leading exporter on a per-capita basis.
Costa Rica also accounts for 52 per cent of all new investment in the medical devices industry in Latin America and has become the third-largest global recipient of foreign direct investment (FDI) projects in this sector. Today, more than 100 companies from the United States, Germany, Ireland, Sweden, Japan, Spain and other markets operate in the country, covering specialised areas such as endoscopy, cardiology, orthopaedics, ophthalmology, diagnostics and advanced surgical solutions.
This performance reflects Costa Rica's transition toward an economy driven by innovation, advanced manufacturing and high-value-added production. Medical devices now represent 48 per cent of the country's total goods exports and are shipped to markets across the Americas, Europe and Asia.
PROCOMER data show that, as of October this year, exports from the sector reached $9.199 billion, representing 30 per cent year-on-year growth and already surpassing the total value exported throughout 2024.
"Costa Rica exports diversity—of talent, capabilities and solutions that improve lives around the world. This industry proves that our ability to innovate and deliver cutting-edge technology knows no borders. Costa Rica not only attracts specialised investment; it manufactures and exports products with exceptionally high value added, supported by a unique value proposition that combines stability, skilled talent and a strong commitment to quality," said Laura López, CEO of PROCOMER.
Currently, Costa Rica exports 164 different medical device products to 88 markets, with key categories including needles, catheters and cannulas (41.5 per cent), other medical devices (30.8 per cent) and medical prostheses (14.5 per cent). The United States remains the main destination, accounting for 66.5 per cent of exports, followed by the Netherlands and Belgium.
The country's local supply chain has also strengthened significantly, supported by specialised providers in tooling, metalworking, plastics, sterilisation, contract manufacturing, clean rooms and precision assembly. This ecosystem enables efficient operations while fostering knowledge transfer and raising industry standards among domestic suppliers nationwide.
