Latin America Active Implantable Medical Devices Market

Latin America Active Implantable Medical Devices Market Size (2022 to 2027)

The size of the Latin America Active Implantable Medical Devices market is anticipated to grow USD 4.02 billion by 2027 from USD 2.77 billion in 2022, showcasing a CAGR of 7.76% between 2022 to 2027.

The aging population, rising prevalence of cardiovascular and neurological diseases, investments and funds to develop technologically advanced products, expanded applications of neurostimulators, and favorable reimbursement scenarios for medical procedures in Latin America are the primary growth drivers for the active implantable medical devices market in this region.

The rising prevalence of cardiovascular disorders, the development of technologically advanced devices, and the growing demand for these devices in emerging countries are further estimated to favor the Active Implantable Medical Devices Market in Latin America. A large number of new manufacturers are eager to invest in new technologies that allow them to provide better diagnostic and treatment alternatives. The rising prevalence of cardiovascular and neurological illnesses and investments and funding to develop technologically sophisticated goods are driving market expansion. The other key factors driving market expansion are the high obesity rate and favorable reimbursement situations. Congestive heart failure affects around 5.7 million persons in Mexico, according to the Latin American Heart Association.

However, complications with employing such devices, such as device failure and network security, may stifle market growth during the forecast period. The expensive cost of implantable medical devices and their unfavorable compensation practices are significant roadblocks to adopting active implantable medical device solutions in Latin America. In addition, adverse healthcare reforms in Mexico and problems surrounding the use of implantable medical devices and the high cost of implants may limit the market's growth. As a result, the market is expected to be hampered by increased demand for non-invasive procedures, difficulties with implantable devices, and the high cost of the devices and affected the market.

This research report on the Latin America active implantable medical devices market has been segmented and sub-segmented into the following categories:

By Product: 

• Implantable Cardioverter Defibrillators
  • Transvenous Implantable Cardioverter Defibrillators
  • Subcutaneous Implantable Cardioverter Defibrillator
• Implantable Cardiac Pacemakers
• Ventricular Assist Devices
• Implantable Heart Monitors/Insertable Loop Recorders
• Neurostimulators
• Implantable Hearing Devices

By Country: 

• Mexico
• Brazil
• Argentina
• Chile
• Rest of Latin America

Geographically, the Latin American market is projected to account for a moderate share in the global active implantable medical devices market during the forecast period. The market growth is attributed to the proliferation of neurological disorders, increasing healthcare spending, and favorable reimbursement policies. In addition, improving healthcare infrastructure, technological advancements, and the presence of key market players are propelling the market growth. Furthermore, the emerging countries in the region, such as Brazil, Mexico, and Argentina, are significantly expanding the regional market growth with an exponential market share.

Brazil dominates the Latin American Active implantable medical devices market over the forecast period. However, the market is projected to record a prominent share in the coming years. The expanding aging population and rising prevalence of cardiovascular greater accessibility to sophisticated technology boost market growth.

Similarly, Mexico is more likely to account for a significant share in the active implantable medical devices market during the forecast period. Increased production of innovative and technologically advanced products, healthcare reforms for infrastructural development, and supportive government policies contribute to market growth. In addition, congestive heart failure affects around 5.7 million persons in Mexico.

On the other hand, Argentina is projected to showcase a promising share in the market over the forecast period. Immense healthcare market potential, the well-established healthcare sector, and the growing prevalence of chronic disorders drive market growth. 

KEY MARKET PLAYERS:

Some of the prominent companies leading the Latin America Active Implantable Medical Devices Market profiled in the report are Medtronic plc, Abbott Laboratories, Boston Scientific Corporation, BIOTRONIK SE & Co. KG, LivaNova PLC., Cochlear Limited, MED-EL, Sonova Holding AG, William Demant Holding A/S, and Nurotron Biotechnology Co. Ltd.