According to the Latin America Metabolic Testing Market Forecast Report, the market is valued at USD 24.73 million in 2022 and estimated to grow at a CAGR of 7%, to reach USD 34.68 million by 2027 during the forecast period 2022 to 2027.
Metabolism is a chemical reaction & physical process that involves the maintenance of the living state, like breathing, blood circulation, muscle contraction, digestion of food and nutrients, elimination of wastes such as urine, control of body temperature, and the functioning of the organism's brain and nerves.
Metabolic testing equipment screens organ functioning in diabetes, liver disease, and kidney illness. It also assesses the body's maximum oxygen consumption capacity to maintain physical fitness. In addition, it assists physicians and exercise physiologists in detecting the risk of lifestyle problems early on. It is also a weight control option for athlete performance testing.
The market growth is driven by the factors such as the increasing prevalence of lifestyle-related diseases such as diabetes and other cardiovascular diseases. Also, technological improvements in the healthcare sector are expected to support market growth.
Other factors such as growing healthcare awareness, increasing healthcare expenditure, and government initiatives through medical tourism across the region uplift the market growth.
In addition, technological advancements in healthcare sectors and the growing adoption of innovative equipment ensure market expansion—for instance, the introduction of digital metabolic rate testing equipment.
Increasing investments and funding by the government and non-government organizations for research and development activities and advancing healthcare infrastructure are encouraging market growth.
However, the high cost of equipment and software is expected to hinder the market growth. Also, the unfavorable reimbursement policies and stringent government regulations restrict the market growth.
This research report on the Latin America Metabolic Testing Market has been segmented and sub-segmented into the following categories.
By End User:
Geographically, the Latin America Metabolic Testing Market is anticipated to account for a substantial share in the market during the period due to the proliferation of chronic diseases, improving healthcare infrastructure, and technological advancements. In addition, the presence of crucial market players and the implementation of key market strategies are strengthening the market growth. Furthermore, emerging countries such as Mexico, Brazil, and Argentina contribute to regional market growth.
The Brazil Metabolic Testing Market accounted for the highest share of the market, and it is expected to record a significant share during the forecast period. The factors such as the growing demand for quality healthcare services, increasing standard of living, and high healthcare spending propels market growth.
The Mexico Metabolic Testing Market is one of the critical markets for Latin American regional market expansion due to the Favourable government initiatives, a growing geriatric population, and increasing patient awareness levels boost the market growth.
The Argentina Metabolic Testing Market is likely to witness a considerable share in the market during the forecast period. The growing prevalence of lifestyle disorders, demand for metabolic testing, increasing investments, and supportive government policies are fuelling the market growth.
KEY MARKET PLAYERS
Prominent companies leading in the Latin America Metabolic Testing Market profiled in the report are Geratherm Medical AG (Germany), General Electric Company (U.S.), OSI Systems, Inc. (U.S.), CareFusion Corporation (U.S.), MGC Diagnostics Corporation (U.S.), COSMED (Italy), CORTEX Biophysik GmbH (Germany), KORR Medical Technologies, Inc. (U.S.), AEI Technologies, Inc. (U.S.), Parvo Medics (U.S.), and Microlife Medical Home Solutions, Inc. (U.S.).,
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