MARKETS

Major Global manufacturers of HiTech products in the  Aerospace, Medical Device, and Pharmaceutical industries choose Costa Rica for several reasons:

  • geographical location (Central Standard Time Zone with direct flights to many cities in the US and Europe)

  • political stability (Costa Rica is the most stable Constitutional Democracy in Latin America)

  • favorable business climate (many trade agreements and government incentives for manufacturers to locate in Costa Rica)

  • education and literacy (with a focus on education, Costa Rica maintains a literacy rate of 98%)

  • and human resources (a well educated labor force and strong work ethic with low employ turnover)

  • Aerospace

    The Costa Rica Aerospace Cluster has nearly 40 member companies focused on Aerospace products. The industry has seen tremendous growth over the past 7 years since the formation of the Cluster, with annual growth exceeding 8% on average. The typical Costa Rica manufacturer is focused on high quality, high mix / low volume opportunities. Having a highly educated workforce, Costa Rica’s Aerospace industry includes expertise in software and hardware, supporting 1st and 2nd tier Global Aerospace Primes and Subs in the USA, Latin America and Europe.

  • Medical Devices

    With over 100 Global manufacturers of health care products and medical devices, Costa Rica’s Medical Device manufacturing base represents a significant potential market for Environmental Test and related thermal equipment. Major manufacturers include such companies as Baxter, Boston Scientific, Cooper Medical, Hologic, Medtronics and many more. Medical Device manufacturing accounts for over $5B in annual production (as of 2021). Costa Rica is second only to Mexico in Latin America in terms of Medical device manufacturing.

  • Pharmaceuticals

    Many Global leaders in Pharmaceutical products have established manufacturing in Costa Rica, including Abbott Laboratories, Bayer, Ferring, GlaxoSmithKline, Menarini Group, Merck, Novartis and Roche, among others. The demand for pharmaceuticals is expected to grow significantly as global population increases and new products are approved for production. Costa Rica is a major manufacturing hub and expects to see more global manufacturers opening facilities in Costa Rica to support the growing global demand.