Latin America Infusion Pump Market

Latin America Infusion Pump Market Size (2022 to 2027)

The infusion pump market in the Latin American region is estimated to grow at a CAGR of 7.8% during the forecast period.

Y-O-Y growth in the prevalence of infusion pumps in Latin America is one of the primary factors driving the Latin American infusion pump market. Diabetes has become a dangerous epidemic that must be controlled to avoid dangerous consequences. Advances in technology, increased disposable income of people, growing awareness of healthy lifestyles, and increased healthcare expenditure have led to a growth in demand for insulin pumps, which is also expected to drive the infusion pumps market in Latin America.

The growth of the infusion pump market in Latin America is further attributed to such circumstances as the increasing prevalence of chronic disorders due to the rapid growth of the geriatric population, the increasing use of infusion products in-home care, and technological improvements in retirement homes.

The increasing prevalence of chronic diseases due to the growing geriatric population, the increasing demand for ambulatory infusion pumps, and the increasing demand for smart infusion pumps in hospitals and day surgery centers support this market boom. Product innovations that focus on improving the safety features of infusion pumps are at the heart of the research and development (R&D) efforts.

Circumstances such as the economic downturn, strict regulations for product approval, medication errors associated with infusion pumps, and recalls of similar products in the recent past may restrain the growth of the Latin American infusion market during the forecast period.

The high cost of infusion pumps is a major factor expected to slow the growth of the global infusion pumps market. Besides pump-related issues such as software glitches, alarm errors, the improper user interface is another factor that is expected to impede the growth of the Latin American infusion pump market.

Impact of COVID-19 on the Latin American Infusion Pump Market:

Infusion pumps have become essential in the treatment regimen for covid 19 during this pandemic. The pandemic is positively impacting the growth of the infusion pump market in Latin America and is expected to grow steadily during the forecast period. The rise in the number of infections caused by covid has dramatically impacted healthcare industries, and the infusion pump shortage is declining relative to patient demand and the decline in pump manufacturing due to blockades and travel bans. Hence, the future for the infusion pump market in the Latin American region is expected to brighten.

This market research report on the Latin America Infusion pump market has been segmented and sub-segmented into the following categories.

 By Type:

• Accessories and Consumables
• Devices

By Product:

• Volumetric infusion pumps
• Insulin infusion pumps
• Enteral infusion pumps
• Ambulatory infusion pumps
• Syringe infusion pumps
• Patient-controlled analgesia (PCA) pumps
• Implantable infusion pumps

By Application:

• Chemotherapy/oncology
• Diabetes
• Gastroenterology
• Analgesia/pain management
• Pediatrics/neonatology
• Hematology
• Other applications

By End-User:

• Hospitals
• Home care settings
• Ambulatory care settings
• Academic and research institutes

By Country:

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

Geographically, in 2020, Brazil estimated the largest share of the infusion pump market in Latin America, followed by Mexico and Argentina. In Latin America, the Brazilian infusion pump market played a leading role for the past few years and is estimated to continue its dominance throughout the forecast period. The strong growth in emerging countries is mainly due to the increasing prevalence of chronic diseases, the increased use of ambulatory pumps such as chemotherapy and disposable pumps in the management of chronic diseases, the improvement of health care infrastructure, and the increase in the disposable income of middle-class populations in several Latin American countries.

The large share of the Brazilian market can be attributed to the high prevalence of chronic disorders, the increasing penetration of smart pumps, the high adoption of ambulatory pumps in chronic disease management, and a well-established healthcare base in the region.

Mexico is following Brazil in performing well in the Latin American infusion pump market. Growing expenditure in healthcare and the rising number of people with various diseases are major factors for growing in this country.

Argentina, Colombia, and Chile are expected to provide significant growth opportunities for market players during the projection period due to the large patient population, increasing incidence of chronic diseases with changing lifestyles, improving accessibility to cutting-edge products, developing health facilities, and increasing disposable income of the middle-class population.

KEY MARKET PARTICIPANTS:

Companies such as Becton, Dickinson, and Company, Smiths Medical, Baxter International, Inc., Hospira, Inc., and New Era Pump Systems, Inc. play a significant role in the Latin American infusion pump market.