Dental Devices - LATAM

LATAM

Highlights

Revenue in the Dental Devices market market in LATAM is projected to reach US$667.30m in 2024.
Revenue is expected to exhibit an annual growth rate (CAGR 2024-2029) of 8.59%, leading to a market volume of US$1.01bn by 2029.
In a global context, the majority of revenue will be generated the United States, amounting to US$7.40bn in 2024.
The dental devices market in Brazil is increasingly adopting advanced digital technologies, enhancing patient care and streamlining dental practices across the country.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Dental Devices Market in LATAM is experiencing considerable growth, fueled by factors such as increasing dental awareness, advancements in technology, and the rising demand for cosmetic procedures, enhancing overall oral health and patient care accessibility.

Customer preferences: Consumers in the LATAM Dental Devices Market are increasingly prioritizing preventive care and aesthetic enhancements, reflecting a cultural shift towards oral health as a vital component of overall well-being. This trend is driven by rising disposable incomes and a growing middle class, which fuels demand for advanced dental technologies, such as 3D imaging and orthodontic solutions. Additionally, the influence of social media is prompting individuals to seek cosmetic dental procedures, emphasizing the importance of a healthy, attractive smile in personal and professional spheres.

Trends in the market: In the LATAM Dental Devices Market, there is a notable surge in the adoption of cutting-edge technologies such as teledentistry, which enhances accessibility to oral care, especially in remote areas. Additionally, a growing emphasis on minimally invasive procedures is reshaping treatment approaches, aligning patient preferences with advancements in dental devices. The rise of cosmetic dentistry driven by social media influences is also significant, as it encourages individuals to invest in their smiles. These trends indicate a shift towards patient-centric care, presenting opportunities for industry stakeholders to innovate and expand their offerings in response to evolving consumer demands.

Local special circumstances: In LATAM, the Dental Devices Market is influenced by diverse geographical and cultural factors that shape consumer behavior and industry dynamics. Countries with vast rural areas, such as Peru and Bolivia, witness a rise in teledentistry solutions that bridge the gap in oral care access. Additionally, cultural attitudes towards aesthetics and oral health are shifting, particularly in urban centers like Mexico City, where social media drives interest in cosmetic dentistry. Regulatory frameworks vary significantly across nations, impacting the approval processes for new dental technologies and affecting market entry strategies for international players.

Underlying macroeconomic factors: The Dental Devices Market in LATAM is significantly influenced by macroeconomic factors such as variations in national economic health, healthcare spending, and investment in medical technology. Economic stability in countries like Brazil and Chile fosters a conducive environment for dental device innovation and adoption, while fluctuations in currency and inflation in others can hinder market growth. Fiscal policies promoting healthcare accessibility and investment in dental infrastructure are crucial for expanding services, particularly in underserved rural areas. Furthermore, the rising middle class and increased awareness of oral health are driving demand for advanced dental technologies, aligning with global trends in aesthetic and preventive care.

Methodology

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.

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Medical technology industry - statistics & facts

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.