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Other Medical Devices - South America

South America

The revenue in South America's Other Medical Devices market market is estimated to reach US$9.37bn by 2024.
This projection indicates a steady annual growth rate (CAGR 2024-2029) of 5.25%, which would result in a market volume of US$12.10bn by 2029.
In a global context, the United States is expected to generate the highest revenue, amounting to US$72,780.00m in 2024.
South America is experiencing a rising demand for advanced medical equipment, particularly in the field of other medical devices.

Key regions: United Kingdom, China, Netherlands, Europe, Italy

Market

Region

Region comparison

Currency

Analyst Opinion

The Other Medical Devices market in South America is experiencing significant growth and development due to various factors. Customer preferences in the South American market for Other Medical Devices are driven by the need for advanced healthcare solutions and the increasing demand for non-invasive medical procedures. Customers in this region are increasingly opting for minimally invasive surgeries and treatments, which require the use of specialized medical devices. Additionally, there is a growing awareness among customers about the importance of early detection and prevention of diseases, leading to an increased demand for diagnostic devices. Trends in the South American market for Other Medical Devices include the adoption of innovative technologies and the increasing focus on research and development. Market players are investing heavily in research and development to develop advanced medical devices that cater to the specific needs of the South American population. For example, there is a growing demand for devices that can effectively diagnose and treat diseases such as cardiovascular conditions, diabetes, and cancer, which are prevalent in the region. Additionally, there is a trend towards the development of portable and user-friendly medical devices that can be easily used by healthcare professionals in remote areas. Local special circumstances in South America, such as the presence of a large aging population and the increasing prevalence of chronic diseases, are driving the growth of the Other Medical Devices market. The aging population in South America is more prone to chronic diseases and requires specialized medical devices for their treatment and management. Additionally, the region has a high prevalence of diseases such as diabetes and cardiovascular conditions, which require continuous monitoring and treatment. These local circumstances create a strong demand for Other Medical Devices in the region. Underlying macroeconomic factors, such as the increasing healthcare expenditure and the improving healthcare infrastructure, are also contributing to the growth of the Other Medical Devices market in South America. Governments in the region are increasing their healthcare budgets to provide better healthcare services to their population, which includes the procurement of advanced medical devices. Additionally, the improving healthcare infrastructure in the region, including the establishment of specialized hospitals and clinics, is creating a favorable environment for the growth of the Other Medical Devices market. Overall, the Other Medical Devices market in South America is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The market is expected to continue growing in the coming years as the demand for advanced healthcare solutions and non-invasive medical procedures increases in the region.

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.