Costa Rica is emerging as a pivotal player in the global medical technology landscape, even as worldwide investment in life sciences wanes. According to Marianela Urgellés, managing director of CINDE, the country is advancing beyond traditional manufacturing into areas like AI-driven healthcare and advanced R&D.
As the medical technology sector undergoes a transformation, Costa Rica has positioned itself as a hub for innovation. With over US$10 billion in medical device exports, the nation has become the largest per capita exporter of medical devices globally. Urgellés highlighted that more than 100 multinational firms are now operating within its borders, including 18 of the top 35 medtech companies. This growth marks a significant shift from the early days of the industry in Costa Rica, which saw only 70 medtech companies and US$2 billion in exports a decade ago.
Despite a 25% decline in global medtech foreign direct investment, Costa Rica continues to attract both new investments and reinvestments. In 2025, the country saw 48 reinvestment projects, indicating a trend where established firms are expanding their operations rather than exiting. This commitment from existing companies underscores the country's stable political environment and robust regulatory framework, which includes compliance with FDA and EC standards.
Looking forward, Urgellés emphasized that the future of Costa Rica's medtech industry will hinge on applied research, biotechnology, and the integration of AI in healthcare. With the global medtech market expected to surpass $800 billion by the mid-2030s, Costa Rica is poised to play a significant role in this growth. The ongoing Life Sciences Forum 2026 will further explore these themes, including supply chain resilience and the impact of AI in healthcare, solidifying Costa Rica's position as a key player in the evolving landscape of life sciences.