The size of the Latin America Advanced Infusion Systems Market is estimated to grow at a steady rate between 2022 to 2027.
Factors such as rising chronic disease prevalence due to the rapidly growing geriatric population, increased use of infusion products in-home care with favorable reimbursement coverage, and technological advancements in infusion systems are a few of the significant factors promoting the advanced infusion systems market growth in the Latin American region. The rising demand for insulin systems and ambulatory infusion systems is driven by an increase in diabetes and cancer patients. In addition, infusion systems, such as disposable systems and chemotherapy systems, allow patients to move around during their treatment, which is why they are becoming more popular in-home care settings. The above factor is expected to favor the market during the forecast period to grow further.
In addition, highly developed technology in infusion systems that minimizes user-related dangers, greater bioavailability, safety, therapeutic effectiveness, and an increase in healthcare spending are a few of the factors supporting the market's growth rate. Furthermore, during the forecast period, the rising prevalence of diabetes, combined with the growing need for insulin systems for at-home insulin administration, is also likely to propel this market forward.
On the other hand, a highly trained intelligent system is required to operate the automated infusion systems. If this system is not adequately taught, it may result in a higher morbidity and mortality rate, limiting the market's growth. Additionally, factors such as the recent economic recession, strict product approval rules, medication errors associated with infusion systems, and related product recalls may limit the growth of the Latin America advanced infusion system market during the forecast period.
This research report on the Latin American Advanced Infusion Systems Market is segmented & sub-segmented into the following categories:
By Application Type:
By Product Type:
Geographically, Latin America accounted for a moderate share in the global advanced infusion systems market in 2020. Mexico and Brazil are expected to provide significant growth opportunities for market players in the Latin American region in the forecast period. This is mainly due to these countries' large patient populations and rapidly aging populations and their high disease incidence, rising per capita income, and improving healthcare infrastructure. Several chronic diseases are becoming more prevalent at an alarming rate. According to the National Health Council, chronic diseases afflict over 13 million Americans or more than 40% of the country's entire population. Around 17 million Americans are thought to suffer chronic diseases, with 11 million having multiple conditions. The rapid adoption of home healthcare infusion system therapies may also impact the market's current expansion. All of the government's measures increase hospital purchases of these systems and accessories.
The highest share of the Latin American infusion system market was held by Brazil, followed by Mexico and Argentina in 2020. The high prevalence of chronic diseases, expanding penetration of smart systems, and strong adoption of well-established healthcare equipment in the region are all factors contributing to Brazil's substantial market share.
KEY MARKET PLAYERS:
Hospira, Inc. is a market leader in infusion technologies globally. The major players in these markets are AngioDynamics, Inc., Medtronic, Inc., Terumo Corporation, Johnson & Johnson, CareFusion Corporation, Animas Corporation, Baxter International, Inc., B. Braun Melsungen AG, I-Flow Corporation, and F. Hoffmann-La Roche Ltd.
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