Other Medical Devices - Argentina

In Argentina, the revenue of the Other Medical Devices market market is forecasted to reach US$1.85bn in 2024.
It is expected to exhibit an annual growth rate (CAGR 2024-2029) of 3.67%, leading to a market volume of US$2.22bn by 2029.
When compared globally, the United States is projected to generate the highest revenue of US$58.90bn in 2024.
Argentina is experiencing a surge in demand for innovative medical devices to improve healthcare outcomes.

Definition:
The market Other Medical Devices covers revenues for areas that are not specifically mentioned in the other submarkets, such as endoscopy, drug delivery, dental medicine, wound management, diabetes care, nephrology, neurology, and ENT.

Drug delivery
Wound management

Medical devices covered in other markets
Pharmaceuticals
Services (i.e., treatment expenses)
Consumer technologies, e.g., fitness trackers
Blood and transplants derived from the human body

The Other Medical Devices market in Argentina is experiencing significant growth and development in recent years. Customer preferences in the Other Medical Devices market in Argentina are driven by a number of factors. Firstly, there is a growing demand for advanced medical devices that can improve patient outcomes and enhance the quality of healthcare services. This has led to an increased focus on innovative and technologically advanced products in the market. Additionally, there is a growing awareness among consumers about the importance of preventive healthcare and self-monitoring, which has resulted in an increased demand for home-use medical devices. Trends in the market include the increasing adoption of digital health technologies and the rise of telemedicine. These trends are driven by the need to improve access to healthcare services, especially in remote areas, and to enhance the efficiency and effectiveness of healthcare delivery. Additionally, there is a growing trend towards personalized medicine, which requires the use of specialized medical devices for diagnostics and treatment. Local special circumstances in Argentina also contribute to the development of the Other Medical Devices market. One such circumstance is the country's aging population, which is driving the demand for medical devices that cater to the needs of elderly patients. Another special circumstance is the increasing prevalence of chronic diseases, such as diabetes and cardiovascular diseases, which require the use of medical devices for monitoring and management. Underlying macroeconomic factors also play a role in the development of the Other Medical Devices market in Argentina. The country's improving economic conditions and rising disposable incomes have resulted in an increased ability and willingness to spend on healthcare products and services. Additionally, government initiatives to improve healthcare infrastructure and access to medical devices have also contributed to the growth of the market. In conclusion, the Other Medical Devices market in Argentina is experiencing growth and development due to customer preferences for advanced and innovative medical devices, the adoption of digital health technologies, local special circumstances such as an aging population and increasing prevalence of chronic diseases, and underlying macroeconomic factors such as improving economic conditions and government initiatives.

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.