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)
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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.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product Type, Function, End Use and Country
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Brazil, Argentina
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Medical Devices Market – By Product Type
1.3.2 Medical Devices Market – By Function
1.3.3 Medical Devices Market – By End User
1.3.4 SCAM Medical Devices Market – By Geography
2. Medical Devices Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Medical Devices Market – Market Landscape
4.1 Overview
4.1.1 South and Central America
4.2 Expert Opinion
5. Medical Devices Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Medical Device Industry
5.1.2 Rising Chronic Disease Prevalence
5.2 Market Restraints
5.2.1 Challenges in Medical Device Industry
5.3 Market Opportunities
5.3.1 Long Term Benefits Associated with Medical Devices
5.4 Future Trends
5.4.1 Smart Medical Devices Revolutionising Medical Device Industry
5.5 Impact Analysis
6. Medical Device Market Analysis – By Product Type
6.1 Overview
6.2 Medical Devices Market Share, by Product Type, 2019 and 2027 (%)
6.3 Surgical Devices
6.3.1 Overview
6.3.2 Surgical Devices: Medical Devices Market– Revenue and Forecast to 2027 (US$ Million)
6.3.3 Electrosurgical Generators
6.3.3.1 Overview
6.3.3.2 Electrosurgical Generators: Medical Devices Market– Revenue and Forecast to 2027 (US$ Million)
6.3.4 Ultrasonic Surgical Generators
6.3.4.1 Overview
6.3.4.2 Ultrasonic Surgical Generators: Medical Devices Market– Revenue and Forecast to 2027 (US$ Million)
6.3.5 Minimally Invasive Surgery Instruments
6.3.5.1 Overview
6.3.5.2 Minimally Invasive Surgery Instruments: Medical Devices Market– Revenue and Forecast to 2027 (US$ Million)
6.3.6 Others
6.3.6.1 Overview
6.3.6.2 Others: Medical Devices Market– Revenue and Forecast to 2027 (US$ Million)
6.4 Infection Control Devices
6.4.1 Overview
6.4.2 Infection Control Devices: Medical Devices Market– Revenue and Forecast to 2027 (US$ Million)
6.5 General Medical Devices
6.5.1 Overview
6.5.2 General Medical Devices: Medical Devices Market– Revenue and Forecast to 2027 (US$ Million)
6.6 Cardiovascular Devices
6.6.1 Overview
6.6.2 Cardiovascular Devices: Medical Devices Market– Revenue and Forecast to 2027 (US$ Million)
6.7 Neurological Devices
6.7.1 Overview
6.7.2 Neurological Devices: Medical Devices Market – Revenue and Forecast to 2027 (US$ Million)
6.8 Ophthalmology Devices
6.8.1 Overview
6.8.2 Ophthalmology Devices: Medical Devices Market – Revenue and Forecast to 2027 (US$ Million)
6.9 Orthopedic Devices
6.9.1 Overview
6.9.2 Orthopedic Devices: Medical Devices Market – Revenue and Forecast to 2027 (US$ Million)
6.10 In-vitro Diagnostic Devices
6.10.1 Overview
6.10.2 In-vitro Diagnostic Devices: Medical Devices Market – Revenue and Forecast to 2027 (US$ Million)
6.11 Endoscopy Devices
6.11.1 Overview
6.11.2 Endoscopy Devices: Medical Devices Market – Revenue and Forecast to 2027 (US$ Million)
6.12 Others
6.12.1 Overview
6.12.2 Others: Medical Devices Market – Revenue and Forecast to 2027 (US$ Million)
7. Medical Devices Market– By Function
7.1 Overview
7.2 Medical Devices Market Share, by Function, 2019 and 2027 (%)
7.3 Diagnostic and Monitoring
7.3.1 Overview
7.3.2 Diagnostic and Monitoring: Medical Devices Market– Revenue and Forecast to 2027 (USD Million)
7.4 Therapeutics
7.4.1 Overview
7.4.2 Therapeutics: Medical Devices Market– Revenue and Forecast to 2027 (USD Million)
7.5 Surgical
7.5.1 Overview
7.5.2 Surgical: Medical Devices Market– Revenue and Forecast to 2027 (USD Million)
7.6 Others
7.6.1 Overview
7.6.2 Others: Medical Devices Market– Revenue and Forecast to 2027 (USD Million)
8. Medical Device Market Analysis – By End User
8.1 Overview
8.2 Medical Device Market Share, by End User, 2019 and 2027, (%)
8.3 Hospitals
8.3.1 Overview
8.3.2 Hospitals: Medical Device Market – Revenue and Forecast to 2027 (US$ Million)
8.4 Homecare
8.4.1 Overview
8.4.2 Homecare: Medical Device Market – Revenue and Forecast to 2027 (US$ Million)
8.5 Ambulatory Care
8.5.1 Overview
8.5.2 Ambulatory Care: Medical Device Market – Revenue and Forecast to 2027 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.2 Others: Medical Device Market – Revenue and Forecast to 2027 (US$ Million)
9. Medical Devices Market – Geographic Analysis
9.1 South and Central America: Medical Devices Market
9.1.1 Overview
9.1.2 South and Central America: Medical Devices Market – Revenue and Forecast to 2027 (USD Million)
9.1.3 South and Central America Medical Devices Market, by Product Type – Revenue and Forecast to 2027 (USD Million)
9.1.3.1 South and Central America Medical Devices Market, by Surgical Device – Revenue and Forecast to 2027 (USD Million)
9.1.4 South and Central America Medical Devices Market, by Function – Revenue and Forecast to 2027 (USD Million)
9.1.5 South and Central America Medical Devices Market, by End User – Revenue and Forecast to 2027 (USD Million)
9.1.6 South and Central America: Medical Devices Market, by Country, 2019 & 2027 (%)
9.1.6.1 Brazil: Medical Devices Market – Revenue and Forecast to 2027 (USD Million)
9.1.6.2 Brazil: Medical Devices Market – Revenue and Forecast to 2027 (USD Million)
9.1.6.3 Brazil Medical Devices Market, by Product Type – Revenue and Forecast to 2027 (USD Million)
9.1.6.3.1 Brazil Medical Devices Market, by Surgical Device – Revenue and Forecast to 2027 (USD Million)
9.1.6.4 Brazil Medical Devices Market, by Function – Revenue and Forecast to 2027 (USD Million)
9.1.6.5 Brazil Medical Devices Market, by End User – Revenue and Forecast to 2027 (USD Million)
9.1.6.6 Argentina: Medical Devices Market – Revenue and Forecast to 2027 (USD Million)
9.1.6.6.1 Argentina: Medical Devices Market – Revenue and Forecast to 2027 (USD Million)
9.1.6.6.2 Argentina Medical Devices Market, by Product Type – Revenue and Forecast to 2027 (USD Million)
9.1.6.6.2.1 Argentina Medical Devices Market, by Surgical Device – Revenue and Forecast to 2027 (USD Million)
9.1.6.6.3 Argentina Medical Devices Market, by Function – Revenue and Forecast to 2027 (USD Million)
9.1.6.6.4 Argentina Medical Devices Market, by End User – Revenue and Forecast to 2027 (USD Million)
10. Impact Of COVID-19 Pandemic On SCAM Medical Devices Market
10.1 SCAM: Impact Assessment of COVID-19 Pandemic
11. COMPANY PROFILES
11.1 Medtronic
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Abbott
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Boston Scientific Corporation
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Braun Melsungen AG
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 3M
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 General Electric Company
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Stryker Corporation
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Koninklijke Philips N.V.
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 Siemens AG
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
11.10 Johnson and Johnson Services, Inc.
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Products and Services
11.10.4 Financial Overview
11.10.5 SWOT Analysis
11.10.6 Key Developments
12. Appendix
12.1 Glossary of Terms
LIST OF TABLES
Table 1. South and Central America Medical Devices Market, by Product Type – Revenue and Forecast to 2027 (USD Million)
Table 2. South and Central America Medical Devices Market, by Surgical Device – Revenue and Forecast to 2027 (USD Million)
Table 3. South and Central America Medical Devices Market, by Function – Revenue and Forecast to 2027 (USD Million)
Table 4. South and Central America Medical Devices Market, by End User – Revenue and Forecast to 2027 (USD Million)
Table 5. Brazil Medical Devices Market, by Product Type – Revenue and Forecast to 2027 (USD Million)
Table 6. Brazil Medical Devices Market, by Surgical Device – Revenue and Forecast to 2027 (USD Million)
Table 7. Brazil Medical Devices Market, by Function – Revenue and Forecast to 2027 (USD Million)
Table 8. Brazil Medical Devices Market, by End User – Revenue and Forecast to 2027 (USD Million)
Table 9. Argentina Medical Devices Market, by Product Type – Revenue and Forecast to 2027 (USD Million)
Table 10. Argentina Medical Devices Market, by Surgical Device – Revenue and Forecast to 2027 (USD Million)
Table 11. Argentina Medical Devices Market, by Function – Revenue and Forecast to 2027 (USD Million)
Table 12. Argentina Medical Devices Market, by End User – Revenue and Forecast to 2027 (USD Million)
Table 13. Glossary of Terms, Medical Devices Market
LIST OF FIGURES
Figure 1. Medical Devices Market Segmentation
Figure 2. Medical Devices Market – By Geography
Figure 3. Medical Devices Market Overview
Figure 4. In Vitro Diagnostics (IVD) Segment Held Largest Share of Medical Devices Market in 2019
Figure 5. Medical Devices Market in Asia Pacific Region to Show Remarkable Growth During Forecast Period
Figure 6. SCAM Medical Devices Market, Industry Landscape
Figure 7. South and Central America PEST Analysis
Figure 8. Expert Opinion
Figure 9. Medical Devices Market Impact Analysis of Driver and Restraints
Figure 10. Medical devices market Share, by Product Type, 2019 and 2027 (%)
Figure 11. Surgical Devices: Medical Devices Market– Revenue and Forecast to 2027 (US$ Million)
Figure 12. Electrosurgical Generators: Medical Devices Market– Revenue and Forecast to 2027 (US$ Million)
Figure 13. Ultrasonic Surgical Generators: Medical Devices Market– Revenue and Forecast to 2027 (US$ Million)
Figure 14. Minimally Invasive Surgery Instruments: Medical Devices Market– Revenue and Forecast to 2027 (US$ Million)
Figure 15. Others: Medical Devices Market– Revenue and Forecast to 2027 (US$ Million)
Figure 16. Infection Control Devices: Medical Devices Market– Revenue and Forecast to 2027 (US$ Million)
Figure 17. General Medical Devices: Medical Devices Market– Revenue and Forecast to 2027 (US$ Million)
Figure 18. Cardiovascular Devices: Medical Devices Market – Revenue and Forecast to 2027 (US$ Million)
Figure 19. Neurological Devices: Medical Devices Market – Revenue and Forecast to 2027 (US$ Million)
Figure 20. Ophthalmology Devices: Medical Devices Market – Revenue and Forecast to 2027 (US$ Million)
Figure 21. Orthopedic Devices: Medical Devices Market – Revenue and Forecast to 2027 (US$ Million)
Figure 22. Invitro Diagnostic Devices: Medical Devices Market – Revenue and Forecast to 2027 (US$ Million)
Figure 23. Endoscopy Devices: Medical Devices Market – Revenue and Forecast to 2027 (US$ Million)
Figure 24. Others: Medical Devices Market – Revenue and Forecast to 2027 (US$ Million)
Figure 25. Medical Devices Market Share, by Function, 2019 and 2027 (%)
Figure 26. Diagnostic and Monitoring: Medical Devices Market– Revenue and Forecast to 2027 (USD Million)
Figure 27. Therapeutics: Medical Devices Market– Revenue and Forecast to 2027 (USD Million)
Figure 28. Surgical: Medical Devices Market– Revenue and Forecast to 2027 (USD Million)
Figure 29. Others: Medical Devices Market– Revenue and Forecast to 2027 (USD Million)
Figure 30. Medical Device Market Share, by End User, 2019 and 2027 (%)
Figure 31. Hospitals: Medical Device Market – Revenue and Forecast to 2027 (US$ Million)
Figure 32. Homecare: Medical Device Market – Revenue and Forecast to 2027 (US$ Million)
Figure 33. Ambulatory Care: Medical Device Market – Revenue and Forecast to 2027 (US$ Million)
Figure 34. Others: Medical Device Market – Revenue and Forecast to 2027 (US$ Million)
Figure 35. South and Central America: Medical Devices Market, by Key Country – Revenue (2019) (USD Million)
Figure 36. South and Central America Medical Devices Market Revenue and Forecast to 2027 (USD Million)
Figure 37. South and Central America: Medical Devices Market, by Country, 2019 & 2027 (%)
Figure 38. Brazil: Medical Devices Market – Revenue and Forecast to 2027 (USD Million)
Figure 39. Argentina: Medical Devices Market – Revenue and Forecast to 2027 (USD Million)
Figure 40. Impact Of COVID-19 Pandemic In SCAM Market
- 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.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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