Endoscopic Devices - LATAM

  • LATAM
  • Revenue in the Endoscopic Devices market market in LATAM is projected to reach US$2.12bn in 2024.
  • Revenue in in Latin America is expected to show an annual growth rate (CAGR 2024-2029) of 7.33%, resulting in a market volume of US$3.02bn by 2029.
  • In global comparison, most revenue will be generated the United States, with a figure of US$10,390.00m in 2024.
  • The LATAM region is witnessing a growing demand for endoscopic devices, driven by increasing healthcare investments and a rising prevalence of gastrointestinal diseases.

Key regions: Italy, United Kingdom, Netherlands, Germany, Japan

 
Market
 
Region
 
Region comparison
 
Currency
 

Analyst Opinion

The Endoscopic Devices Market in LATAM is witnessing moderate growth, influenced by factors like technological advancements, increasing prevalence of chronic diseases, and a rising demand for minimally invasive procedures, alongside regulatory challenges and economic fluctuations.

Customer preferences:
In LATAM, there is a growing consumer preference for less invasive medical procedures, reflecting a cultural shift towards prioritizing quick recovery and minimal discomfort. Patients are increasingly aware of the benefits of endoscopic procedures, which align with their desire for efficient healthcare solutions. Additionally, with an aging population and a rise in chronic diseases, there’s a heightened demand for advanced endoscopic devices that offer precision and enhance patient outcomes. This trend is further supported by an increasing inclination towards preventive healthcare, influencing purchasing decisions in the medical devices market.

Trends in the market:
In LATAM, the Endoscopic Devices Market is experiencing a surge in demand due to the increasing preference for minimally invasive surgical techniques. This trend is driven by patients seeking quicker recovery times and reduced post-operative pain, which aligns with the broader cultural shift towards patient-centric care. Furthermore, the aging population and the rise of chronic conditions are prompting healthcare providers to adopt advanced endoscopic technologies that enhance diagnostic accuracy and treatment efficacy. As awareness of these benefits grows, industry stakeholders must adapt their strategies to meet evolving consumer expectations, invest in innovative solutions, and emphasize education on the advantages of endoscopic procedures.

Local special circumstances:
In LATAM, the Endoscopic Devices Market is shaped by diverse geographical and cultural factors that influence healthcare delivery. Countries like Brazil and Mexico are witnessing urbanization, which enhances access to advanced medical facilities, while rural areas face challenges in obtaining specialized care. Cultural attitudes towards surgery, emphasizing traditional methods, can delay the adoption of endoscopic techniques. Additionally, regulatory frameworks vary significantly across the region, impacting the speed of product approvals and market entry for innovative endoscopic technologies, ultimately affecting market growth and competition.

Underlying macroeconomic factors:
The Endoscopic Devices Market in LATAM is significantly influenced by macroeconomic factors such as economic stability, healthcare spending, and demographic trends. Countries experiencing robust GDP growth, such as Brazil and Chile, are investing more in healthcare infrastructure, facilitating the adoption of advanced endoscopic technologies. Conversely, nations facing economic challenges may struggle with funding for medical innovations. Additionally, the increasing prevalence of gastrointestinal disorders and the aging population drive demand for minimally invasive procedures. Variations in healthcare policies and reimbursement frameworks across the region further impact market dynamics, influencing the adoption and accessibility of endoscopic devices.

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.

Overview

  • Revenue
  • Analyst Opinion
  • Global Comparison
  • Methodology
Please wait

Contact

Get in touch with us. We are happy to help.
Statista Locations
Contact Meredith Alda
Meredith Alda
Sales Manager– Contact (United States)

Mon - Fri, 9am - 6pm (EST)

Contact Yolanda Mega
Yolanda Mega
Operations Manager– Contact (Asia)

Mon - Fri, 9am - 5pm (SGT)

Contact Ayana Mizuno
Ayana Mizuno
Junior Business Development Manager– Contact (Asia)

Mon - Fri, 10:00am - 6:00pm (JST)

Contact Lodovica Biagi
Lodovica Biagi
Director of Operations– Contact (Europe)

Mon - Fri, 9:30am - 5pm (GMT)

Contact Carolina Dulin
Carolina Dulin
Group Director - LATAM– Contact (Latin America)

Mon - Fri, 9am - 6pm (EST)