The Latin American digital health market is progressing at a healthy CAGR during the forecast period. The Latin American digital healthcare market is majorly driven by the growing elder people population, rising obesity rate, and increasing usage of health apps for smartphones, tablets, and laptops for online consultation with doctors. Increasing awareness among people using mobile health apps and growing internet usage is propelling the market. New and advanced features mHealth apps and physical fitness apps are bolstering the market. Also, growing perforation for 3G and 4G networks and increasing a wide range of application areas support the digital healthcare market of this region.
In Latin America, the Brazilian digital health market is playing a dominating role. The usage of smartphones and tablets, particularly medical and health apps, is significantly growing in Brazil, majorly driving the market growth. Increasing implementation of IT sectors with a variety of software fuels digital technology in the healthcare market. Brazil's government takes the initiative to decrease the chronic disease burden by raising awareness through online services and digital technology in the medical sector. Private hospitals in the Latin American region are increasing rapidly, and medical tourism for cancer treatment bolsters the market revenue. Remote monitoring services for patients and the availability of telemedicine, telehealth, and eHealth services are fuelling the market share.
Data protection issues are rising rapidly in this region, which is expected to impede market growth to some extent. Furthermore, high maintenance, high expenditure, and high-security concern are further impacting the market growth.
This research report on the Latin American Digital Health Market has been segmented and sub-segmented into the following categories:
By Technology:
By Component:
By Country:
Regional Analysis:
The Brazilian digital health market is presently leading the Latin American market and is predicted to reach USD 580 million by 2020. According to WHO, 68% of the Brazilian population having access to the digital health system. A rising 28% share in Electronic Data Recording solutions and mobile health solutions is witnessed for market growth. Expanding access to healthcare services is also propelling the demand of the market. Digital therapeutic wearable devices and apps are playing an essential role in fueling the need of the market. Rising collaboration between IT sectors and biopharmaceutical companies is lavishing the growth rate of market growth. Increasing venture capital funding in the telehealthcare market is additionally leveling up the growth rate of the digital healthcare market. New startups provide mobile solution access with 1000 people in Brazil supports the android software digital healthcare segment with a $3 million market size. In Latin America, 47% of the market share accounted for by Brazil's digital healthcare market, and the health technology market is rising with a 5.8% CAGR during the forecast period.
Mexico region implements digital healthcare with mobile apps, medical robotics, medical 3D printing devices, telemedicine services, and medical machine learning services. Ischaemic heart disease, breast cancer, and diabetes disorders therapies fuel market growth. In Mexico, the COFEPRIS authority shows the market growth of the software segment with the approval rate. According to this authority, online consultation is rising rapidly; 35% of online consultations are pending each day. According to ISSSTE and IMSS authority, increasing demand for eHealth solutions boosts the growth rate of the digital healthcare market. Digital medical roots contribute significant revenue in the market.
In Argentina, the ministry of health established new guidelines for digital healthcare information maintained as state policy. 59% of people go with telemedicine services in the Argentina region with a USD 6 billion market size. 6% of Argentina respondents connect health devices.
The Chilean region has prominent shares in the coming years due to the rising geriatric population and growing incidences of chronic diseases. IT sectors support the growth of the digital healthcare market.
Leading companies in the LATAM digital health market profiled in this report are Apple Inc., AirStrip Technologies, Google Inc., Orange, Allscripts Healthcare, LLC, Mckesson Corporation, Athenahealth Inc., At&T Inc., Biotelemetry, Inc., Cerner Corporation, Cisco Systems, Inc., Koninklijke Philips Nv, Eclinicalworks, Ihealth Lab, Inc. and General Electric Company.
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