Costa Rica is blossoming into a premier region for medical technology. As of March 2024, more than 80 companies are producing health care and bio-pharma products throughout the country. The medical device and technology industry now accounts for $5.2 billion and 36 percent of the nation's overall trade percentage, according to the Costa Rican Medical Device Cluster.
So why do companies from around the world keep moving their facilities — or opening new ones — on this relatively small Central American country? A few common themes have come up throughout 2024, but one idea remains with absolute consistency: companies love Costa Rica's skilled work force.
With only 5 million people living in Costa Rica itself, the nation has come a long way from its former reliance on crops like coffee, fruit and sugar. The flourishing medical market attracts major names in the rubber industry, which creates more jobs for skilled manufacturing workers, which in turn creates a greater demand for more of those workers.
This cycle has transformed Costa Rica into a powerhouse in the medical device scene. Five companies made their moves in 2024, with more major firms sure to follow suit in 2025 and beyond.