The South & Central America autotransfusion devices market is expected to reach US$ 100.64 million by 2027 from US$ 82.53 million in 2019; it is anticipated to grow at a CAGR of 2.6% from 2020 to 2027.
The South & Central America autotransfusion devices market growth is attributed to the involvement of rare blood groups, surge in adoption of transplant procedures, and increase in prevalence of chronic diseases. However, risks associated with autotransfusion restrain the growth of the market.
Organ transplantation is generally done for the heart, liver, and kidney when the organ stops functioning. However, the rising cases of chronic diseases are leading to the need for transplantation of other organs such as lung, pancreases, cornea, and vascular tissues. Organ transplantation is considered one of the advanced surgeries in modern medicine. These procedures generally take hours for completion and may cause excessive blood loss. Autotransfusion devices help prevent blood loss as the lost blood is retransfued to the patient body after filtration. According to the publication by the Journal of Brazil in 2018, chronic kidney disease (CKD) is considered as a major public health problem in Brazil and worldwide, with an increasing number of cases during recent years. Approximately 40% of Brazilians are of African descent, which ranks Brazil as the county with the second-highest percentage of African descendants worldwide (following Nigeria).
A survey by the Brazil Government portal displays that the number of organ donors is rising exponentially. The data collected from the Brazilian Organ Transplant Association (ABTO) showed that the country is experiencing the best donation scenario in the last 20 years. In 2016, 25,000 transplants were conducted; in 2017, this figure was reached around 27,000. The statistics show that after a few years of downturn and small advances, the number of transplants is growing again. Thus, the rising need for organ transplantation is among the key factors driving the South & Central America autotransfusion devices market.
The COVID-19 outbreak is becoming the most significant challenge in North America. Latin America is hit by the pandemic, and thus has profound humanitarian, economic, and political consequences. South and Central America are reporting a rising number of COVID-19 cases. As per the data of Worldometer, as of October 20, 2020, Brazil reported 5,251,127 COVID-19 cases, and Argentina recorded 1,002,662 instances. Deaths reported in Brazil were 154,226, and the death toll was 26,716 in Argentina. Governments across the region are closing borders to control the spread of the virus, and imposing quarantine and lockdown measures to keep people confined at home. The impact of the COVID-19 pandemic on the South & Central America autotransfusion devices market is moderate.
Based on type, the South & Central America autotransfusion devices market is bifurcated into products and accessories. The products segment held a larger share of the market in 2019. However, the accessories segment is estimated to register a higher CAGR in the market from 2020 to 2027.
The South & Central America autotransfusion devices market, by application, is segmented into cardiac surgeries, orthopaedic surgeries, organ transplantation, trauma procedures, and others. The cardiac surgeries segment held the largest market share in 2019, whereas the organ transplantation segment is estimated to register the highest CAGR in the market during the forecast period.
Based on end user, the autotransfusion devices market in South & Central America is segmented into hospitals, specialty clinics, and ambulatory surgical centers. The hospitals segment held the largest share of the market in 2019, and it is expected to register the highest CAGR in the market during 2020–2027.
A few of the primary and secondary sources referred to while preparing this report on the South & Central America autotransfusion devices market are the World Health Organization (WHO), Centers for Disease Control and Prevention (CDC), and American Health Association.