How US-Cuban Political Relations Will Impact The Medical Device Market Under New Figureheads

• Fitch Solutions expects that Biden is likely to loosen US sanctions on Cuba, albeit in the medium term as domestic issues have taken the president’s immediate interest.
• The medical device market in Cuba will be heavily reliant upon improved US relations going forward. Limited global trade and waning public health infrastructure could see improvements if diplomatic relations between Cuba and the US are restored.
• Following the announcement that Raúl Castro stepped down as head of Cuba’s Communist Party in April 2021, Biden has an opportunity to commune with a more favorable head Miguel Díaz-Canel, that has begun reforms that would match the political ideology of the Biden administration.
• The agency believes that improving relations with the US would open Cuba’s economy for growth and represent better prospects for its healthcare markets, especially following the exit of Raúl Castro; which could represent the beginning of an era of improved Cuba-US relations under Díaz-Canel.

(Source: Fitch Solutions)