Latin America Medical Devices Market 2022-2027

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    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.

     

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    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 2021 and is anticipated to reach $XX Billion by 2026, registering a CAGR of XX% from 2022 to 2027.

     

    NEW 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 has exposed structural flaws in the region’s health systems and provided the impetus for rethinking development. It has also exposed the vulnerability of global supply chains due to import restrictions and a lack of medical supplies and technological advancements to meet sharp increases 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.

     

    RECENT 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.

     

    COMPANY PROFILE

     

    THIS REPORT WILL ANSWER FOLLOWING QUESTIONS

    1. What is the average cost per Latin America Medical Devices Market right now and how will it change in next 5-6 years?
    2. Average cost to set up a Medical Devices Market in Latin America?
    3. How many Latin America Medical Devices Market are 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 a Latin America Medical Devices Market and key vendor selection criteria
    6. Where is the Latin America Medical Devices Market manufactured? What is the average margin per equipment?
    7. Market share of Latin America Medical Devices Market manufacturers and their upcoming products
    8. The most important planned Latin America Medical Devices Market in next 2 years
    9. Details on network of major Latin America Medical Devices Market and pricing plans
    10. Cost advantage for OEMs who manufacture Latin America Medical Devices Market in-house
    11. 5 key predictions for next 5 years in Latin America Medical Devices Market
    12. Average B-2-B Latin America Medical Devices Market price in all segments
    13. Latest trends in Latin America Medical Devices Market, by every market segment
    14. The market size (both volume and value) of Latin America Medical Devices Market in 2022-2027 and every year in between?
    15. Global production breakup of Latin America Medical Devices Market, by suppliers and their OEM relationship
    Sl no Topic
    1 Market Segmentation
    2 Scope of the report
    3 Abbreviations
    4 Research Methodology
    5 Executive Summary
    6 Introduction
    7 Insights from Industry stakeholders
    8 Cost breakdown of Product by sub-components and average profit margin
    9 Disruptive innovation in the Industry
    10 Technology trends in the Industry
    11 Consumer trends in the industry
    12 Recent Production Milestones
    13 Component Manufacturing in US, EU and China
    14 COVID-19 impact on overall market
    15 COVID-19 impact on Production of components
    16 COVID-19 impact on Point of sale
    17 Market Segmentation, Dynamics and Forecast by Geography, 2022-2027
    18 Market Segmentation, Dynamics and Forecast by Product Type, 2022-2027
    19 Market Segmentation, Dynamics and Forecast by Application, 2022-2027
    20 Market Segmentation, Dynamics and Forecast by End use, 2022-2027
    21 Product installation rate by OEM, 2022
    22 Incline/Decline in Average B-2-B selling price in past 5 years
    23 Competition from substitute products
    24 Gross margin and average profitability of suppliers
    25 New product development in past 12 months
    26 M&A in past 12 months
    27 Growth strategy of leading players
    28 Market share of vendors, 2022
    29 Company Profiles
    30 Unmet needs and opportunity for new suppliers
    31 Conclusion
    32 Appendix

     

     

     

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