Share on

Latin America Respiratory devices Market Research Report - Segmented By drugs Type, End User, and Country (Brazil, Argentina, Chile, Mexico and Rest of Latin America) - Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast | 2022 to 2027

Published: January, 2022
ID: 675
Pages: 132
Formats: report pdf report excel report power bi report ppt

Latin America Respiratory Devices Market Size (2022 to 2027)

The size of the Respiratory Devices Market in Latin America was worth USD 2.06 billion in 2022 and estimated to be growing at a CAGR of 8.74%, to reach USD 3.12 billion by 2027.

Respiratory devices are medical devices that are used to aid patients who are suffering from respiratory problems and cannot attain sufficient oxygen levels to sustain life.

Respiratory care devices are used for diagnosis, monitoring, and treatment of respiratory diseases such as chronic obstructive pulmonary disease (COPD), asthma, tuberculosis, and pneumonia.

The Latin America respiratory devices market involves the increased use of respiratory such as gas analyzers, pulse oximeters, spirometers, and polysomnography, etc. The market is mainly driven by the increased incidences of various acute or chronic respiratory disorders. Over the past several decades, there is an increase in the number of cases of patients with respiratory disorders chronic obstructive pulmonary disease, tuberculosis, asthma, etc., the high incidence rate is driving the market growth. Chronic respiratory disease affects more than a billion people worldwide, according to the Global Asthma Report, 2018. Asthma is a major contributor to this figure and affects children, adults, and the elderly. In addition, around 40 million patients have been affected by asthma. In Latin America, deaths from COPD have increased by 66.9%, and morbidity and mortality rates from COPD and lung cancer are increasing at a rapid rate. Thus, the increasing incidence of respiratory diseases has increased the demand for early diagnosis, which will have a positive impact on the sales of respiratory devices in Latin America.

Respiratory devices such as ventilators, oximeters, etc. have been in high demand due to the COVID-19 outbreak. Ventilators are mainly used in intensive care medicine, home care, and emergency medicine, as well as in anesthesia, to assist in artificial breathing. The pandemic has created a need for ventilators, especially in hospitals, for therapeutic assistance.

The increasing rate of newborns and geriatric populations is expected to boost the Latin America respiratory devices market in the near future. In addition, increasing the adoption of respirators in emerging economies such as Chile, Peru, and others will create new opportunities for the market. There is also an increased risk of infection in the general population due to the high rate of air pollution in urban cities, which is resulting in the rapid increase in acute respiratory diseases such as bronchitis, allergic rhinitis, and others resulting from air contaminants, this will drive the demand respiratory devices in Latin America. Due to the high demand, many companies in the market are increasingly launching smart respiratory devices which as smart and automatic to diagnose and monitor a number of respiratory diseases. In addition, according to the OECD, in 2018, in Chile there were approximately 34,000 hospital discharges due to asthma, compared with 30,000 hospital discharges in the year 2017. These numbers are expected to increase during the projected period. Hence, all these factors are expected to boost the Latin American respiratory devices market.

However, certain factors such as price increase, low healthcare expenditure, refurbished device use, and lack of favorable reimbursement policies are likely to hamper the growth of this market.

This research report on the Latin America Respiratory Devices Market has been segmented and sub-segmented into the following categories:

By Type: 

  • Therapeutic Devices

  • Diagnostic & Monitoring Devices

  • Disposables

By End User: 

  • Hospitals

  • Homecare

By Country: 

  • Brazil

  • Mexico

  • Argentina

  • Chile

  • Rest of Latin America

In 2020, The Latin America respiratory devices market is dominated by Brazil due to developed healthcare/medical facilities and the availability of technological advancements. Moreover, the prevalence of smoking and increasing pollution levels are the major reasons for the increase in respiratory disease in the region. Brazil is anticipated to hold the majority of the Latin American respiratory devices market during the projected period, followed by Argentina.

Argentina is expected to experience faster growth at a CAGR of 3.9% during the analysis period, owing to rapid population growth, increased consumer awareness, supportive government policies, rising pollution levels, and an increased medical tourism industry in the region. Other Latin American countries such as Peru, Chile, Ecuador, and Columbia are also projected to have a healthy growth owing to the development of efficient and advanced respiratory devices, the growing rate of chronic respiratory diseases such as asthma and COPD, the increased awareness about respiratory diseases, the increase in government initiatives across these regions.

Companies playing a promising role in the Latin America Respiratory Devices Market profiled in the report are Masimo Corporation, ResMed, Inc., Fisher and Paykel Healthcare Limited, Philips Healthcare, Covidien plc, and CareFusion Corporation.

Please wait. . . . Your request is being processed

Related Reports

Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2000

Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM

Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!

REACH OUT TO US

Call us on: +1 888 702 9696 (U.S Toll Free)

Write to us: sales@marketdataforecast.com

Click for Request Sample