Cardiology Devices - Argentina | Statista Market Forecast

In Argentina, the Cardiology Devices market market is forecasted to achieve a revenue of US$863.70m in the year 2024.
Looking ahead, the market is anticipated to experience a steady annual growth rate (CAGR 2024-2029) of 5.72%, leading to a market volume of US$1.14bn by 2029.
It is worth noting that in a global context, the United States is expected to generate the highest revenue in the Cardiology Devices market market, amounting to US$25.77bn in 2024.
Cardiovascular disease prevalence in Argentina drives demand for advanced cardiology devices in the country's medical technology market.

Definition:
The Cardiology Devices market includes diagnostic, monitoring, and surgical devices that are used to treat heart diseases and heart-related problems.

Additional information:
Market values represent revenues paid to primary vendors at manufacturer price level either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Revenues are allocated to the country where the money is spent.

Company examples: Medtronic, Abbott Laboratories, Boston Scientific, Edwards Lifesciences.
Further information on the key players can be found in the Market Shares boxes.

Cardiology diagnostic & monitoring devices
Cardiology surgical devices
Implants such as pacemakers

Cardiology drugs
Cardiology supplements

The Cardiology Devices market in Argentina has been experiencing steady growth in recent years. Customer preferences for advanced and innovative cardiology devices, coupled with local special circumstances and underlying macroeconomic factors, have contributed to the positive development of the market. Customer preferences in Argentina have shifted towards more advanced and innovative cardiology devices. Patients and healthcare professionals are increasingly seeking devices that offer improved accuracy, reliability, and ease of use. This has led to a growing demand for technologically advanced devices such as implantable cardioverter-defibrillators (ICDs), pacemakers, and cardiac monitors. The preference for these devices is driven by the desire for better patient outcomes and the need for more efficient and effective cardiac care. Trends in the market reflect the global advancements in cardiology devices. The market in Argentina has witnessed an increase in the adoption of minimally invasive procedures, which require specialized devices such as catheters and stents. These procedures offer several advantages over traditional open-heart surgeries, including shorter recovery times, reduced risk of complications, and improved patient comfort. As a result, there has been a growing demand for devices used in minimally invasive procedures, driving the growth of the cardiology devices market in Argentina. Local special circumstances also contribute to the development of the cardiology devices market in Argentina. The country has a high prevalence of cardiovascular diseases, including hypertension, coronary artery disease, and heart failure. This creates a significant demand for cardiology devices to diagnose and treat these conditions. Additionally, the aging population in Argentina further fuels the demand for cardiology devices, as the elderly are more susceptible to cardiovascular diseases and require ongoing cardiac care. Underlying macroeconomic factors have also played a role in the growth of the cardiology devices market in Argentina. The country has experienced steady economic growth in recent years, which has increased the affordability of cardiology devices for both healthcare providers and patients. Additionally, the government has implemented healthcare reforms aimed at improving access to healthcare services, including cardiology care. This has further contributed to the growth of the market by increasing the number of patients seeking cardiac care and the demand for cardiology devices. In conclusion, the Cardiology Devices market in Argentina is developing due to customer preferences for advanced and innovative devices, trends in the market towards minimally invasive procedures, local special circumstances such as the high prevalence of cardiovascular diseases and an aging population, and underlying macroeconomic factors including economic growth and healthcare reforms. These factors collectively contribute to the positive growth and development of the cardiology devices market in Argentina.

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

Medical technology plays a role in the lives of everyone. It includes most of all, medical devices which simplify the prevention, diagnosis, and treatment of diseases and illnesses. The most well-known medical technology products are, among others, pacemakers, imaging instruments, dialysis machines, and implants. The global medical technology industry was worth over 567 billion U.S. dollars annually. Established centers of this industry include North America and Western Europe. The United States is home to the world’s largest medical technology companies. As of 2022, Abbott Laboratories had the largest global revenue at over 31.2 billion U.S. dollars. The main focus of devices manufactured by the Chicago-based company are diagnostics, cardiovascular, and diabetes care. Two other medtech companies that round off the top three largest companies –Medtronic and Johnson & Johnson – are both based in the United States. Although, industry trends show that Asia, and in particular China, is about to play a more prominent role in the years to come.