The Latin America Ablation Technologies Market size was valued at USD 423.70 Million in 2024 and is projected to reach USD 756.77 Million by 2029, growing at a CAGR of 12.3% between 2024 to 2029.
The growing incidence of cancer and the high demand for effective treatment options are the major growth factors in the market. According to Cancer Research, the cancer incidence rate is estimated to increase by 60% from 2018 to 2040. According to the IARC, there were 9.55 million cancer deaths and 17.56 million new cancer cases in 2018 worldwide. In addition, the number of cancer cases is expected to reach 27.55 million and 16.38 million cancer deaths by 2040. According to canceratlas.org, there were an estimated 1.38 million cancer cases in Latin America. The leading cancer cases are reported in breast (15.5%), prostate (14.0%), colorectal (10.23%), lung (7.5%), stomach (5.5%), cervix (4.3%), thyroid (4.12%), and other cancers (42.56%). On the same website, it was also stated that there were an estimated 666,600 cancer deaths in the region, including the Caribbean.
The growing demand for advanced medical technologies for minimally invasive procedures, coupled with improved funding capacities of healthcare facilities, is anticipated to increase the need for this technology to treat tumors during the prognosis period. People who underwent ablation had a rapid recovery, more comfort, and shorter response time when compared to conventional surgical procedures. This has also reduced the overall medical costs and hospital stays. In addition, integrating tumor ablation devices with efficient interventional imaging modalities, like ultrasound, MRI, and computed tomography will revolutionize outpatient ablation procedures.
Supporting government initiatives such as cancer screening programs, awareness campaigns, and programs for various types of cancer will increase the number of cancer patients. Most of these programs aim for early detection and limiting the spread of tumors and their complications, thereby improving the prognosis rate.
However, adverse regulatory conditions and the high cost of ablation technologies with poor reimbursement policies may restrain the growth of the Latin American ablation technologies market during the forecast period.
This research report on the Latin American ablation technologies market has been segmented and sub-segmented into the following categories.
By Product:
By Type:
By Application:
By Country:
Brazil was the largest consumer of ablation technology due to the introduction of ablation technology than in other Latin American regions. The increased awareness of ablation technologies has contributed significantly to the market's growth. Other factors driving the market include increasing healthcare spending, a growing senior population, a high number of ablation and surgery centers, and awareness of ablation procedures.
The regional market in Mexico is anticipated to be the fastest-growing regional market due to the availability of a large patient pool, easy availability of FDA-approved ablation devices from North America, higher patient spending capacity, and preference for minimally invasive procedures. As a result, the size of the Latin American medical tourism market is estimated to go over USD 20.51 billion by 2028, with an impressive CAGR of 18.9%. This will result in popularizing the region for medical procedures, which will drive the studied market.
Other Latin American regions such as Peru, Chile, Argentina, Columbia, and Ecuador will also have a steady market growth. These regions are experiencing market expansion by key market players and increased government investment to develop the healthcare sector throughout the forecast period.
KEY MARKET PLAYERS:
Some of the noteworthy companies operating in the Latin America Ablation Technologies Market Profiled in the Report are Biosense Webster, Inc., St. Jude Medical, Inc., Boston Scientific Corporation, AngioDynamics, Inc., AtriCure, Inc., Smith & Nephew plc, Galil Medical Inc., CONMED Corporation, Olympus Corporation, Covidien PLC, Medtronic, Inc., and BSD Medical Corporation.
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