South & Central America Medical Devices Market to Grow at a CAGR of 4.4% to reach US$ 24,642.7 Million from 2020 to 2027

The South & Central America Medical Devices is expected to reach US$ 24,642.7 million in 2027 from US$ 17,612.3 million in 2019; it is estimated to grow at a CAGR of 4.4% from 2020 to 2027.

Brazil is the fifth largest country in the world both by area and by population and experiencing the fastest demographic aging worldwide. In Brazil, the aging population is at a rapid pace and in a context of regional and historical socioeconomic inequalities. According to the study conducted in Brazil, the community of women estimated at the vast majority with 16.9 million (56%) of elderly persons, whereas older adults estimated approx. 13.3 million (44%). The growing aging population leads to several chronic conditions such as cancer, orthopedic conditions, neurodegenerative disorders, and diabetes amongst others. Such growing conditions are likely to drive the adoption of medical devices, which will eventually drive the Brazil medical devices market during the forecast period.

Market players in the country are focusing on South & Central America Medical Devices market entry with the help of partnerships and collaborations. For instance, in February 2019, joimax, a Germany-based endoscopes offering company expanded its business operations in Brazil with the help of distribution partner. The company entered into strategic partnership with Brazilian CT Group with an aim to establish brand in Brazil. Further, growing number of product launches are anticipated to offer significant opportunity for market growth. For instance, in July 2018, Novosanis got approval for its Colli-Pee, a non-invasive self-sampling device for urine from ANVISA, Brazilian Health Regulatory authority. Such strategic events are driving the Brazil medical devices market by 2027.

Brazil Medical Devices Market Revenue and Forecast to 2027 (US$ Million)

SOUTH & CENTRAL AMERICA MEDICAL DEVICES – MARKET SEGMENTATION

By Product Type

• In Vitro Diagnostics (IVD)
• Surgical Device
  • Minimally invasive surgery instruments
  • Electrosurgical Generators
  • Ultrasonic Surgical Generators
  • Others
• General Medical devices
• Cardivascular devices
• Orthopedic
• Infection control devices
• Ophthalmology
• Endoscopy
• Neurology
• Others

By Function

• Diagnostic and Monitoring
• Surgical
• Therapeutics
• Others

By End Use

• Hospital
• Ambulatory Care
• Homecare
• Others

By Country

• Brazil
• Argentina
• Rest of SCAM

Company Profiles

• Medtronic
• Abbott
• Boston Scientific Corporation
• Braun Melsungen AG
• 3M
• General Electric Company
• Stryker Corporation
• Koninklijke Philips N.V.
• Siemens AG;
• Johnson and Johnson Services, Inc.

South & Central America Medical Devices Report Scope