Market Introduction
This research report provides insights into the South & Central America Medical Devices market. A medical device can be a machine, instrument, apparatus, an article that is used to diagnose, monitor, and therapeutic purposes. A medical device plays an essential role, such as detection, measurement, restoration, and modification of the structure or a function of the body due to health problems or chronic medical conditions. There are various types of medical devices, which include glasses, pacemakers, wheelchairs, X-ray machines, MRI, CT scans, and many more.
Market Overview and Dynamics
The South & Central America Medical Devices is expected to reach US$ 24,642.7 million in 2027 from US$ 17,612.3 million in 2019; it is estimated to grow at a CAGR of 4.4% from 2020 to 2027. South and Central America (SCAM) region consists of Brazil and Rest of SCAM. Brazil is expected to have the major market share in this region. Also, it is projected to grow with highest growth rate. Aging population coupled with increasing demand for advanced medical technologies are expected to accelerate growth of the Medical Devices Market. Argentina is one of the largest country in the region. The country has a vital role to play in the medical equipment industry. The country has to experience development in the private and public healthcare sectors. Further, Argentina is strengthening its human resources with highly skilled professionals across all the healthcare sectors. Argentina offers high-quality health services, which are considered among the best in Latin America. In cities, Buenos Aires, Córdoba, or Mendoza, hospitals, and clinics have advanced infrastructure with competent medical staff. Thus, it is expected that the country owes significant growth opportunities for the market.
Key Market Segments
In terms of product type, the In Vitro Diagnostics (IVD) segment held the largest share of the market in 2019; However, neurology devices is estimated to register the highest CAGR of 7.1% in the market during the forecast period. The growing hospital incidences of hospital acquired infections and new developments by the market players is likely to drive the market growth. In terms of function, the Diagnostic and Monitoring segment held a larger share of the market in 2019 and surgical segment is estimated to register a higher market share in the market during the forecast period. In terms of end use, the hospital segment held a larger share of the market in 2019 and also is estimated to register a higher market share in the market during the forecast period.
Major Sources and Companies Listed
The World Health Organization (WHO), Federal Economic Development Agency for Southern Ontario, Scientific Institutes for Research, Hospitalization, and Care, are some of the major primary and secondary sources for the South & Central America Medical Devices market included in the report.
Reasons to buy the report
- To understand the South & Central America Medical Devices market landscape and identify market segments that are most likely to guarantee a strong return
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- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form the South & Central America Medical Devices market
- Obtain market revenue forecast for market by various segments from 2019 to 2027 in the region
South & Central America Medical Devices Market Segmentation
- In Vitro Diagnostics (IVD)
- Surgical Device
- Minimally invasive surgery instruments
- Electrosurgical Generators
- Ultrasonic Surgical Generators
- Others
- General Medical devices
- Cardivascular devices
- Orthopedic
- Infection control devices
- Ophthalmology
- Endoscopy
- Neurology
- Others
- Diagnostic and Monitoring
- Surgical
- Therapeutics
- Others
By End Use
- Hospital
- Ambulatory Care
- Homecare
- Others
Company Profiles
- Medtronic
- Abbott
- Boston Scientific Corporation
- Braun Melsungen AG
- 3M
- General Electric Company
- Stryker Corporation
- Koninklijke Philips N.V.
- Siemens AG;
- Johnson and Johnson Services, Inc.