Endoscopic Devices - Argentina | Statista Market Forecast

Revenue in the Endoscopic Devices market market in Argentina is projected to reach US$316.60m in 2024.
Revenue in this sector is anticipated to exhibit an annual growth rate (CAGR 2024-2029) of 6.52%, leading to a market volume of US$434.20m by 2029.
In a global context, the majority of revenue will be generated the United States, which is expected to reach US$10.39bn in 2024.
In Argentina, the rising demand for minimally invasive surgical procedures is significantly driving the growth of the endoscopic devices market within the medical technology sector.

Definition:
The Endoscopic Devices market, a medical technology market, includes the sale of endoscopic devices. Endoscopy involves the use of an endoscope to examine the inside of a hollow organ or body cavity. The market includes various types of endoscopes, such as gastroscopes, laparoscopes, bronchoscopes, and colonoscopes.

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), and governments (B2G). Revenues are allocated to the country where the money is spent.

Key players in the market include Olympus Corporation, Boston Scientific Corporation, and Stryker Corporation. Further information on the key players can be found in the Market Shares boxes.

Endoscopic devices
Implants such as stents

pharmaceuticals for endoscopic procedure

The Endoscopic Devices Market in Argentina is experiencing moderate growth, influenced by factors such as increasing demand for minimally invasive procedures, advancements in technology, and heightened awareness of gastrointestinal health among the population.

Customer preferences: Consumers in Argentina are increasingly prioritizing health and wellness, driving a notable shift towards endoscopic devices that facilitate minimally invasive procedures. This trend is especially pronounced among the aging population, who seek less painful and quicker recovery options for gastrointestinal issues. Additionally, urbanization and rising healthcare awareness have led to greater acceptance of advanced medical technologies. As lifestyle factors evolve, individuals are now more inclined to choose procedures that promise efficiency and reduced hospital stays, significantly influencing market dynamics.

Trends in the market: In Argentina, the Endoscopic Devices Market is experiencing a surge fueled by the increasing demand for minimally invasive surgical options. Patients, particularly the elderly, are gravitating towards procedures that offer less discomfort and faster recovery times, reshaping surgical practices. Furthermore, the rise of urbanization and heightened health awareness is fostering greater acceptance of advanced endoscopic technologies among healthcare providers. This trend not only enhances patient outcomes but also compels industry stakeholders to innovate and adapt their offerings, ensuring they meet the evolving preferences of a more health-conscious population.

Local special circumstances: In Argentina, the Endoscopic Devices Market is being shaped by a combination of local factors, including a diverse healthcare landscape and a focus on cost-effective medical solutions. The country's unique geographical challenges, such as remote areas with limited access to specialized healthcare, drive the demand for portable and user-friendly endoscopic devices. Culturally, there is a strong emphasis on family health, prompting patients to seek less invasive procedures. Regulatory support for innovative medical technologies further encourages market growth, fostering collaboration between domestic and international manufacturers to enhance healthcare delivery.

Underlying macroeconomic factors: The Endoscopic Devices Market in Argentina is significantly influenced by macroeconomic factors such as healthcare expenditure, inflation rates, and foreign investment. A growing middle class is increasing healthcare spending, while inflation poses challenges to affordability and purchasing power. Government initiatives aimed at improving healthcare access and efficiency, alongside favorable fiscal policies, are encouraging investments in medical technologies. Additionally, the rising burden of chronic diseases in the population is driving demand for minimally invasive surgical options. These factors collectively shape a dynamic environment for the growth of endoscopic devices within the medical technology sector.

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.