LATIN AMERICA MEDICAL DEVICES MARKET

INTRODUCTION

Brazil has the largest medical device market by volume in Latin America, followed by those in Mexico, Venezuela, and Colombia. While the domestic sector in Brazil is robust and flourishing, imports of devices remain a need in the majority of Latin American countries.

While much high-tech medical equipment is imported into nations like Chile, Argentina, and Brazil, more consumable medical devices are imported into nations like Venezuela, Mexico, and Peru.

Despite the potential, only a small number of international medical device makers have taken the initiative to prioritize Latin America. As a result, the sector is often held together by a small number of competitors in a highly concentrated market.

Due to a lack of local R&D and a tendency to manufacture only second-generation items, there is a high risk of intellectual property theft.

LATIN AMERICA MEDICAL DEVICES MARKET SIZE AND FORECAST

The Latin America Medical Devices Market accounted for $XX Billion in 2023 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.

LATIN AMERICA MEDICAL DEVICES MARKETNEW PRODUCT LAUNCH

In nations that recognize the CE mark, Roche announced the release of the cobas 5800 System, a new molecular laboratory tool. Testing is one of the first lines of defense to safeguard a patient's overall health and is crucial in directing their therapy as soon as possible.

The cobas 5800 System offers rapid and accurate findings while assisting laboratories in addressing issues including the rise in patient testing, complicated reimbursement processes, and the requirement for a wider range of testing options.

The cobas 5800 System is a real-time PCR molecular testing tool with a small footprint that offers high performance and increased functionality.

The cobas 5800 System offers automation, consolidation, integration, and standardization, making it a scalable, affordable option for smaller laboratories looking for big lab performance or for bigger labs looking for small lab agility.

The system is designed to provide a completely automated workflow that includes sample supply, transport, and preparation, as well as amplifying and detecting results and delivering them to the lab information system (LIS).

The single module allows for a walkway duration of up to eight hours, which requires less hands-on time and can increase productivity, decrease the chance of error, and increase turnaround times.

LATIN AMERICA MEDICAL DEVICES MARKET DYNAMICS

IRRAS AB has announced that it has achieved a distribution deal with Anade SA, a reputable distributor of top neurosurgery medical products and technologies throughout Latin America, for the exclusive sale of its IRRAflow device.

Cervision, an upper-extremity patient positioning tool for cervical spine surgery, was introduced in Brazil by Spinologics Inc. and Importek. Since the product's domestic premiere, this launch represents the first expansion of its overseas sales.

Clients in Canada have been well served by the product, and the company is prepared to serve new customers internationally. For the Brazilian market, Importek has been chosen as the distributor. Their primary area of business is spine surgery. The cervical spine implants that Importek currently carries, in particular, are complemented by Cervision.

The Federal Commission for the Protection against Sanitary Risk (COFEPRIS) has given AliveCor, the pioneer of AI-based, personal ECG technology and a provider of enterprise cardiology solutions, permission to introduce KardiaMobile in Mexico. 

COVID-19 IMPACT ON LATIN AMERICA MEDICAL DEVICES MARKET

The COVID-19 pandemic hasexposedstructuralflawsin the region's health systems andprovidedtheimpetusfor rethinking development. It hasalso exposedthe vulnerability of global supply chainsdueto import restrictions and alackof medicalsuppliesandtechnological advancementsto meetsharpincreases in demand.

The Pan American Health Organization (PAHO) and the Economic Commission for Latin America and the Caribbean (ECLAC) organised a discussion between the region's health, business, and science and technology sectors with the goal of preventing interruptions in medical product supplies during future health emergencies.

Health, science, and technology, as well as industry, must collaborate to provide fair access to medicines and other important technologies not only in peacetime but also during future emergencies. The scarcity of medical items can disrupt health care and put health and life at danger.

UNOPS is supporting Mexico's COVID-19 response and assisting to strengthen the provision of health services through the delivery of specialist equipment in collaboration with the Ministry of Foreign Affairs of Mexico and funds from the government of Japan.

Japan's government has provided funding for the purchase of medical supplies and ambulances in seven nations in Latin America and the Caribbean, including Belize, Brazil, Costa Rica, Guyana, Mexico, Suriname, and Trinidad & Tobago, as part of its response to the pandemic.

LATIN AMERICA MEDICAL DEVICES MARKETRECENT ACQUISITION

Macatt Medica, a distribution business with offices in Lima, Peru, has been bought by Vygon, a corporation that specializes in single-use medical equipment. Most of Vygon's goods, including a variety of enteral nutrition products, are distributed by the company in Peru.

The agreement's financial details have not been made public. This acquisition will increase Vygon's position in South America by making Macatt Medica a fully owned subsidiary. This will make it possible for Vygon to increase their market share for active medical devices.

This product line will supplement the one they have created in conjunction with their Colombian office in the area of single-use "consumable" products, allowing them to provide a wide choice of goods to their South American clientele.

The largest clinical diagnostic companies in Brazil, Alka Tecnologia and Hemogram Industria e Comercio, have been acquired by Adavium Medical, making the company the largest medical equipment and diagnostics company in Brazil based on sales and the number of clients it serves in both disciplines.

The business has two divisions: clinical diagnostics, which provides clinical laboratories with equipment and reagents, and medical devices, which is focused on aesthetics, dermatology, plastic surgery, vascular surgery, and gynaecology.

With the acquisition of Elbrus Assistência Técnica Em Raio X Ltda, Simon Hegele Healthcare Solutions, an internationally engaged and highly specialised service partner for OEMs of large-scale medical equipment, is expanding into South America.

A reputable OEM service partner with a base in Curitiba, Brazil, is Elbrus. The business is renowned for its expertise and top-notch service, which ranges from minor medical device installation and maintenance to cutting-edge major therapy goods.

The merging of the two businesses through Simon Hegele's acquisition is a fantastic chance to increase services for the benefit of clients. Employees in Brazil who are a part of Simon Hegele will continue to install and maintain cutting-edge medical technology in hospitals and clinics at the highest standard while also having tremendous opportunities for personal and professional advancement.

LATIN AMERICA MEDICAL DEVICES MARKETCOMPANY PROFILE

• Engimplan
• Scitech
• Bionnovation
• Cremer
• Fanem
• Dabi Atlante
• Gnatus
• DePuy
• Fresenius
• Siemens Healthcare
• Medtronic
• Roche

THIS REPORT WILL ANSWER FOLLOWING QUESTIONS OFLATIN AMERICA MEDICAL DEVICES MARKET

1. What is the average cost perLatin America Medical Devices Marketright now and how will it change in next 5-6 years?
2. Average cost to set up aMedical Devices MarketinLatin America?
3. How manyLatin America Medical Devices Marketare manufactured per annum globally? Who are the sub-component suppliers in different regions?
4. What is happening in the overall public, globally?
5. Cost breakup of aLatin America Medical Devices Marketand key vendor selection criteria
6. Where is theLatin America Medical Devices Marketmanufactured? What is the average margin per equipment?
7. Market share ofLatin America Medical Devices Marketmanufacturers and their upcoming products
8. The most important plannedLatin America Medical Devices Marketin next 2 years
9. Details on network of majorLatin America Medical Devices Marketand pricing plans
10. Cost advantage for OEMs who manufactureLatin America Medical Devices Marketin-house
11. 5 key predictions for next 5 years inLatin America Medical Devices Market
12. Average B-2-BLatin America Medical Devices Marketprice in all segments
13. Latest trends inLatin America Medical Devices Market, by every market segment
14. The market size (both volume and value) ofLatin America Medical Devices Marketin 2024-2030 and every year in between?
15. Global production breakup ofLatin America Medical Devices Market, by suppliers and their OEM relationship