Why Latin America Needs a Country-by-Country MedTech Strategy

For MedTech leaders, Latin America is often discussed as if it were a single expansion decision: enter or do not enter. In this episode, Julio Martinez-Clark speaks with Lloyd Diamond, who was President and CEO of Precise Light Surgical when the episode was recorded, about why that framing leads to weak strategy. The conversation is most useful when you read it as an operating guide for commercialization, not just a regional overview.

Diamond draws on work across Mexico, Brazil, Costa Rica, Panama, Colombia, and Venezuela. His message is simple but demanding: companies need to match their market-entry model, regulatory plan, and commercial support to the maturity of each country rather than applying one LATAM playbook to all of them.

Latin America is a portfolio of markets, not one market

Diamond pushes back on a common shortcut in boardroom planning. As he puts it, "I think we need to look at Latin America, country by country." That idea matters because it changes how a company allocates resources.

In his view, Mexico and Brazil stand out as more mature medical markets, while other countries may offer different kinds of opportunity, whether in infrastructure, development funding, or speed of entry. That means the right first move is not to ask whether Latin America is attractive in the abstract. The better question is which country fits your current stage.

A company with a product that needs sophisticated commercialization support may prioritize Mexico or Brazil. A company looking for a more flexible path for development activity may see promise elsewhere. The practical lesson is that regional strategy starts with segmentation. If a leadership team cannot explain why one country comes first and another comes later, it probably does not yet have a real plan.

A beachhead works, but opportunism is no longer enough

One of Diamond's more useful observations is that a strong first market can become a commercial beachhead for the rest of the region. In his experience, Mexico often played that role. Early on, companies could build a foothold there, meet physicians and distributors at trade shows, and then expand outward as interest arrived from other countries.

But he is clear that this older, more opportunistic pattern has limits now. "You have to have a very deliberate and targeted strategy." He says that especially about Mexico and Brazil, where regulatory demands and operating requirements make casual market entry risky.

That shift has consequences for founders and commercial leaders. It is no longer enough to wait for distributor interest and assume demand will organize itself. Before entering a market, companies need to decide how local they must be in sales support, what regulatory work is required, and whether the channel should be distributor-led, direct, or some mix of both.

The same point applies to pricing. Diamond agrees the region is generally price sensitive, but he also argues that some markets are showing greater appreciation for value, especially when a technology can improve outcomes or lower healthcare costs. So deliberate strategy is not just about approvals. It is also about proving why a premium product deserves a place in a cost-conscious market.

Distributor management should change as the market matures

Diamond's most concrete commercial advice may be his description of distributor strategy. "The approach is a continuum," he says, and that phrase captures a lot. Too many companies treat distributor selection as a one-time decision. He treats it as a structure that should evolve with adoption.

At the beginning, a company may rely heavily on a local distributor with limited direct presence from the manufacturer. Over time, that setup often becomes more involved. Distributors identify key opinion leaders, those physicians are trained and exposed to peers, and clinical advocacy starts to build. As penetration grows, the manufacturer may add a local country manager, then field and marketing support, and eventually a larger direct footprint in the most important markets.

That model is especially relevant for disruptive technologies. Diamond notes that when a company is introducing a product category that does not yet have an established market, it cannot simply hand off the product and hope demand appears. Clinician education, local training environments, presentations at professional meetings, and publication activity all help create the conditions for adoption.

His method for choosing distributors is equally practical. He starts with physicians and asks who provides the best service. Then he studies the distributor's portfolio and, for capital equipment, their service infrastructure. The lesson is straightforward: distributor diligence should be based on customer reputation and operating capability, not just enthusiasm at a trade show.

Regulation and development are creating a different map

Diamond describes a region that is changing on two tracks at once. In larger markets, regulation is becoming more demanding. He points to Brazil as an example of a system that used to be relatively straightforward but has become more stringent, with greater scrutiny and more documentation.

At the same time, he sees opportunity in harmonization efforts and in countries trying to make themselves more attractive for research and development. He mentions the Pacific Alliance and the possibility that one application may eventually open access to several countries that once required separate filings. For smaller companies, that kind of regulatory convergence can change the economics of entry.

Just as important, Diamond argues that Latin America should not be viewed only as a place to sell finished products. He sees the region as a growing option for clinical trials, product development, and early-stage innovation support. Costa Rica is his example of a government trying to attract research and development investment, including support for incubators and device development.

That is why his closing advice goes beyond commercialization: "Don't only think about Europe and the US ... but give the Latin American region serious consideration." For companies rethinking where to run studies, build evidence, or explore development talent, that is a strategic prompt worth taking seriously.

Listen to the full episode

For the full conversation with Lloyd Diamond and more detail on commercialization, regulation, and distributor strategy, listen on the episode page.

About Global Trial Accelerators™

Global Trial Accelerators™ is the podcast for MedTech, Biopharma and Radiopharma founders navigating first-in-human clinical trials. It is hosted by Jesús E. Moreno and produced by bioaccess®, a CRO purpose-built for first-in-human trials across the Americas.