The size of the Latin America Operating Room Equipment Market was worth USD 3.41 billion in 2022. It is forecasted to exhibit a CAGR of 4.2 % and worth USD 4.19 billion by 2027.
The operating room is a facility where all the operations are performed to treat different pathological and physiological conditions in a sterile environment. Operating rooms are also known as the operating suite or operation theatre. An operating room is prepared with technically advanced equipment that offers enhanced operational efficiency by enabling surgeons and other healthcare professionals with greater flexibility and ease of handling.
During the projected period, the Latin America Operating Room Equipment Market is expected to develop at a 7.4 percent CAGR (2018 - 2024). An operating room with advanced equipment aids doctors by providing more flexibility during surgical procedures and, as a result, improves operational efficiency.
The growing popularity of minimally invasive procedures due to benefits such as minimal trauma, shorter hospital stays, and lower costs are driving the growth of Latin American operating room equipment market throughout the forecast period.
Governments worldwide are likely to increase their investment, which will help the market develop even more. In addition, the market is expected to be driven by improving healthcare infrastructure in emerging nations, rising interest from multinational hospital chains in expanding their networks in these markets, and growing collaborations between hospitals and foreign investors.
The Brazilian government passed a new law in 2015 that permits foreign investors to participate in healthcare corporations, hospitals, and specialty clinics. One of the contributing causes to the market's rise is the increased popularity of minimally invasive procedures due to associated benefits such as less trauma, shorter hospital stays, and lower costs. Increased government investment across Latin America is also propelling the LATAM operating room equipment market. The Latin American growth is also being fueled by rising demand for minimally invasive surgeries and increased use of technological advancements.
However, In the last several months, almost every firm on the globe has suffered a setback. As a result of numerous precautionary measures and other limitations imposed by regulatory bodies across Latin America, severe disruptions in their respective production and supply-chain activities have occurred. The same may be stated for Latin American operating room equipment market.
Furthermore, as most people's economic situation has worsened due to the epidemic, consumer demand has declined as individuals have become more focused on removing non-essential costs from their budgets. The above factors are projected to have an impact on the Latin America Operating Room Equipment market revenue over the forecast period.
This research report on the Latin America Operating Room Equipment Market has been segmented and sub-segmented into the following categories:
Multi-Parameter Patient Monitors
Surgical Imaging Devices
Operating Room Lights
General Operating Tables
Specialty Operating Tables
By End User:
Rest of Latin America
Geographically, The Latin America operating room equipment market is projected to witness a significant share in the market. The rising frequency of chronic diseases in the region and the region's huge elderly population, advanced healthcare infrastructure, and growing number of ambulatory surgery centers are all major factors that are fuelling the market growth. Furthermore, the region's growth is likely to be aided by the growing trend of medical tourism in Latin American countries. Mexico, Brazil, and Argentina are some of the most popular medical tourist destinations in Latin America, as these countries in the region contribute the majority of the share. In addition, many international investors are attracted to rising markets such as Mexico, Brazil, and Argentina because of the vast population base and significant unmet demands in the region.
Brazil is projected to augment the largest share of the LATAM operating room equipment market during the forecast period. The market growth is expected to be driven by the factors such as Treatment affordability, ease of access, government assistance, and the advent of new medical tourism locations in the country.
Furthermore, the Mexican Operating Room Equipment market is likely to register a considerable share during the forecast period. Governing authorities begin to lift these enforced measures. The increasing prevalence of chronic diseases, improving healthcare facilities, and growing healthcare spending in the country is propelling the growth of the Latin America operating room equipment market.
Companies playing a prominent role in the Latin American Operating Room Equipment Market profiled in this report are STERIS Corporation, Stryker Corporation, Drägerwerk AG & Co. KGaA, Getinge Group, Medtronic, Inc., Hill-Rom Holdings, Inc., Mizuho OSI, GE Healthcare, Philips Healthcare, and KARL STORZ GmbH & Co. KG.
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