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Pulished Date July, 2021
ID: 11866
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Latin America IoT Healthcare Market Research Report – Segmented By Component, Application, End-User & Country (Mexico, Brazil, Argentina, Chile and Rest of Latin America) – Industry Analysis on Size, Share, Trends & Growth Forecast (2021 to 2026)

Pulished: July, 2021
ID: 11866
Pages: 100

Latin America IoT Healthcare Market Size (2021 to 2026)

The size of the Latin American IoT Healthcare market is forecasted to register healthy CAGR from 2021 to 2026.

The growth of the IoT market in the Latin American region is primarily driven by the increasing technological advancements and the increased penetration of the Internet. In addition, the demand for wearable technologies has increased exponentially due to the pandemic. In addition, the increased investment in the introduction of emerging innovations in healthcare facilities and the advent of network therapy are key factors in the growth of the market.

The wide adoption of electronic medical records (EHRs) has been the main driver of market growth. In addition, increased investment by large global IT companies in healthcare and increased healthcare spending are among the major drivers of the market. Additionally, the increasing geriatric population is creating a demand for remote monitoring and EHR applications.

However, with the outdated infrastructure that is holding back the digital growth of the medical industry, internet disruptions that target the robust performance of IoT devices are more likely to hamper the growth of IoT in the healthcare market. In addition, the high expenditure for IoT system adoption, data privacy concerns, lack of knowledge due to less awareness, and shortage of skilled workers in developing countries are the main factors that are expected to hamper the growth of IoT in the healthcare market in Latin America.

Additionally, increasing attack surfaces with an increase in IoT devices due to data security limitations, assimilation of multiple devices and protocols leading to overwork and data accuracy, and cost of technology call into question the growth of the IoT healthcare market in the years to come.

Impact of COVID-19 on the Latin American IoT Healthcare Market:

The recent COVID-19 outbreak has prompted IoT healthcare solution providers to quickly develop solutions to tackle the growing demand for high-quality services for virus protection. The rapid spread of COVID-19 has engulfed the entire healthcare ecosystem, from pharmaceutical companies, drug makers, COVID-19 vaccine developers to health insurers and hospitals. Applications such as telemedicine, remote patient monitoring, interactive medicine, and hospital monitoring are expected to gain traction during this global crisis time.

This research report on the Latin American IoT Healthcare market has been segmented into the following categories:

By Component:

  • Medical Device
  • Systems & Software
  • Service
  • Connectivity Technology

By Application:

  • Telemedicine
  • Workflow Management
  • Connected Imaging
  • Medication Management

By End-User:

  • Hospitals
  • Surgical Centers and Clinics
  • Clinical Research Organizations (CRO)
  • Government and Defense Institutions
  • Research and Diagnostic Laboratories Energy

By Country:

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

Geographically, the Brazilian IoT healthcare market dominated the Latin American market in 2020, owing to growth is attributed to increasing adoption of IT solutions in healthcare, presence of key companies, legislative initiatives such as the HITECH Act of 2009, and the availability of an IT infrastructure for sophisticated healthcare in this region. Brazil also accounted for the largest share of revenue in Latin America and is expected to maintain its dominance over the forecast period. Technological advancements and various government initiatives promoting the adoption of digital platforms in the life sciences industry are the key factors contributing to the highest revenue share. In addition, several initiatives are underway to develop e-health and clinical interoperability, which is also driving the market.

Argentina is expected to become the fastest-growing regional market. Improving healthcare IT infrastructure, increasing initiatives to promote connected healthcare services, and gradually increasing adoption of advanced technologies, such as smart wearable devices, are key engines of growth in the region. In addition, increased investment by pharmaceutical and medical device companies in this region is also expected to drive demand for IoT healthcare technologies.

Growing demand for IoT in other major Latin American countries such as Mexico, Columbia, and Ecuador are expected to show a huge base amid the COVID-19 outbreak. The COVID-19 epidemic has slowed down most economies, including Mexico, Peru, Chile, and west Latin America. However, technological advancements and digitization in regions such as Mexico and Columbia will maintain demand for IoT in sectors like healthcare and utilities. These factors are expected to impact the market during the forecast period positively.

KEY MARKET PLAYERS:

SAP SE, Koninklijke Philips N.V., CISCO Systems Inc., IBM Corporation, GE Healthcare, Microsoft, Qualcomm Life, Inc., Honeywell Life Care Solutions, Diabetizer Gmbh & Co. Kg, Proteus Digital Health, Adheretech Inc., Apple Inc. are a few of the prominent companies operating in the Latin American IoT Healthcare market.

  1. Introduction                                 
    1. Market Definition                    
    2. Study Deliverables                  
    3. Base Currency, Base Year and Forecast Periods                          
    4. General Study Assumptions                
  2. Research Methodology                                           
    1. Introduction                               
    2. Research Phases                      
      1. Secondary Research           
      2. Primary Research 
      3. Econometric Modelling      
      4. Expert Validation  
    3. Analysis Design                         
    4. Study Timeline                          
  3. Overview                                       
    1. Executive Summary                
    2. Key Inferences                         
    3. Epidemology                              
  4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)                                    
    1. Market Drivers                          
    2. Market Restraints                    
    3. Key Challenges                         
    4. Current Opportunities in the Market                              
  5. Market Segmentation                                              
    1. Component                
      1. Introduction           
      2. Medical Device      
      3. Systems & Software           
      4. Service      
      5. Connectivity Technology   
      6. Y-o-Y Growth Analysis, By Component       
      7. Market Attractiveness Analysis, By Component     
      8. Market Share Analysis, By Component       
    2. Application                 
      1. Introduction           
      2. Telemedicine         
      3. Work Flow Management  
      4. Connected Imaging             
      5. Medication Management 
      6. Y-o-Y Growth Analysis, By Application         
      7. Market Attractiveness Analysis, By Application       
      8. Market Share Analysis, By Application        
    3. End User                      
      1. Introduction           
      2. Hospitals  
      3. Surgical Centers and Clinics              
      4. Clinical Research Organizations (CRO)         
      5. Government and Defense Institutions       
      6. Research and Diagnostic Laboratories Energy          
      7. Y-o-Y Growth Analysis, By End User            
      8. Market Attractiveness Analysis, By End User           
      9. Market Share Analysis, By End User             
  6. Geographical Analysis                                              
    1. Introduction                               
      1. Regional Trends    
      2. Impact Analysis     
      3. Y-o-Y Growth Analysis        
        1. By Geographical Area
        2. By Component
        3. By Application
        4. By End User
      4. Market Attractiveness Analysis     
        1. By Geographical Area
        2. By Component
        3. By Application
        4. By End User
      5. Market Share Analysis      
        1. By Geographical Area
        2. By Component
        3. By Application
        4. By End User
    2. Latin America
      1. Introduction           
      2. Mexico
      3. Brazil
      4. Argentina
      5. Chile
      6. Rest of Latin America
  7. Strategic Analysis                                       
    1. PESTLE analysis                         
      1. Political     
      2. Economic 
      3. Social         
      4. Technological         
      5. Legal          
      6. Environmental       
    2. Porter’s Five analysis                              
      1. Bargaining Power of Suppliers        
      2. Bargaining Power of Consumers    
      3. Threat of New Entrants     
      4. Threat of Substitute Products and Services              
      5. Competitive Rivalry within the Industry     
  8. Market Leaders' Analysis                                        
    1. SAP SE
      1. Overview 
      2. Product Analysis   
      3. Financial analysis  
      4. Recent Developments       
      5. SWOT analysis       
      6. Analyst View          
    2. Koninklijke Philips N.V.
    3. CISCO Systems Inc.
    4. IBM Corporation
    5. GE Healthcare
    6. Microsoft
    7. Qualcomm Life, Inc.
    8. Honeywell Life Care Solutions
    9. Diabetizer Gmbh & Co. Kg
    10. Proteus Digital Health
    11. Adheretech Inc.
    12. Apple Inc.
  9. Competitive Landscape                                           
    1. Market share analysis                            
    2. Merger and Acquisition Analysis                       
    3. Agreements, Collaborations and Joint Ventures                         
    4. New Product Launches                         
  10. Market Outlook and Investment Opportunities                                         
  11. Appendix                                           
    1. List of Tables       
    2. List of Figures                
  • Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and also identify the regions that are still untapped.
  • The segment-level analysis in terms of by component, by application, by region, along with market size forecasts and estimations to detect key areas of industry growth in detail.
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics.
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis.
  • Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development.
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis, and analyst overview to study and sustain the market environment.
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies, and recent developments in the market by the major companies.
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions.
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market.

Latin American IoT Healthcare Market

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