Orthopedic Devices - Argentina | Statista Market Forecast

The Orthopedic Devices market market in Argentina is forecasted to achieve a revenue of US$552.10m in 2024.
It is expected that the revenue will experience an annual growth rate (CAGR 2024-2029) of 3.35%, leading to a market volume of US$651.10m by 2029.
When compared globally, the United States is projected to generate the highest revenue, with a staggering amount of US$16.02bn in 2024.
Argentina's orthopedic device market is experiencing significant growth due to an aging population and an increase in sports-related injuries.

Definition:
The Orthopedic Devices market contains medical equipment and accessories used to treat orthopedic disorders, including joint reconstruction, spinal devices, trauma fixation devices, arthroscopic devices, etc.

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: Johnson & Johnson, Zimmer Biomet, Stryker, Medtronic. Further information on the key players can be found in the Market Shares boxes.

Joint reconstruction implants
Spinal devices
Trauma fixation devices
Arthroscopy devices

Orthopedic pharmaceuticals
Orthopedic supplements

The Orthopedic Devices market in Argentina is experiencing significant growth due to various factors such as changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Orthopedic Devices market in Argentina are evolving, with a growing demand for technologically advanced and innovative products. Customers are increasingly seeking orthopedic devices that are more comfortable, durable, and provide better mobility. They are also looking for devices that are customized to their specific needs and preferences. This shift in customer preferences is driving manufacturers to develop and introduce new products that cater to these demands. Trends in the Orthopedic Devices market in Argentina are also contributing to its development. One of the key trends is the increasing adoption of minimally invasive surgical procedures. These procedures offer several benefits such as reduced pain, shorter hospital stays, and faster recovery times. As a result, there is a growing demand for orthopedic devices that are specifically designed for minimally invasive surgeries. Manufacturers are focusing on developing devices that are smaller, more precise, and easier to handle during these procedures. Another trend in the market is the rising prevalence of orthopedic conditions such as osteoarthritis, osteoporosis, and fractures. The aging population in Argentina is particularly susceptible to these conditions, leading to a higher demand for orthopedic devices. This trend is expected to continue as the population continues to age, driving the growth of the market. Local special circumstances in Argentina also play a role in the development of the Orthopedic Devices market. The country has a well-established healthcare system with a high level of accessibility to healthcare services. This enables patients to seek timely medical intervention and treatment for orthopedic conditions, increasing the demand for orthopedic devices. Additionally, Argentina has a growing medical tourism industry, with patients from neighboring countries seeking orthopedic treatments and surgeries. This further contributes to the demand for orthopedic devices in the country. Underlying macroeconomic factors also have an impact on the Orthopedic Devices market in Argentina. The country has been experiencing economic growth in recent years, leading to an increase in disposable income and healthcare expenditure. This allows individuals to afford orthopedic devices and treatments, driving the market growth. Furthermore, the government has been investing in the healthcare sector, including orthopedic care, which further supports the growth of the market. In conclusion, the Orthopedic Devices market in Argentina is developing due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The demand for technologically advanced and innovative products, the increasing adoption of minimally invasive surgical procedures, the rising prevalence of orthopedic conditions, the well-established healthcare system, the growing medical tourism industry, economic growth, and government investments in the healthcare sector are all contributing to the growth of the market.

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.