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Latin America Wearable Medical Devices Market Research Report - Segmented By Type, Application, Country (Brazil, Mexico, Argentina & Rest of Latin America) – Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast (2022 to 2027)

Published: January, 2022
ID: 53
Pages: 136

LATAM Wearable Medical Devices Market Size (2022 to 2027)

The Wearable Medical Devices Market size in Latin America is estimated to value USD 1700.47 million by 2027 from USD 777.26 million in 2022, growing at a CAGR of 16.95% during the forecast period.

Wearable medical devices feature wireless data transmission, real-time feedback, alerting mechanisms, and easy and timely sensing abilities. The data generated by wearable medical devices is further analyzed and is used by customers for better health management. Wearable medical devices monitor various health conditions like glucose levels, insulin levels, heart diseases, blood pressure ingestion, pain relief, brain activity, hydration, work rates, temperature, sleep, etc.

Increasing expenditure of R&D by firms brought in technological innovations, which in turn increased the multi-functionality, ease of use, and accessibility of wearable devices, resulting in the market's overall growth. Furthermore, an increase in the incidence of chronic diseases and the demographics of this region made Latin America a lucrative market. Nevertheless, the Wearable medical devices market faces challenges mainly in allocating cost-effective monitoring to patients in under-developed countries. Furthermore, lack of awareness can also be cited as another reason leading to the low adoption rate of technology. These factors act as growth hurdles for wearable technology in this region. 

Further, the privacy concerns concerning transmitting sensitive patient information and the need for miniaturized devices with long battery life are a few challenges the industry faces in the current scenario.

This research report on the Latin American Wearable Medical Devices Market segmented and sub-segmented into the following categories:

By Type: 

  • Wearable Electro-Cardiographs 
  • Wearable Sleep Monitoring devices
  • Heart Rate Monitors
  • Blood Pressure Monitors
  • Activity Monitors
  • Electro Encephalogram

By Therapeutic Wearable Devices: 

  • Pain Management Devices
  • Glucose/Insulin Monitoring Devices
  • Respiratory Therapy Devices

By Application:

  • Sports and Fitness
  • Home Healthcare
  • Patient Monitoring

By Country: 

  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America

The wearable medical devices market in the Latin American region is expected to account for a substantial share in the global market during the forecast period. The development of different chronic diseases such as diabetes, cancer, and cardiovascular problems across the region fuels the regional market growth. Further, the growing demand for smartphones and tablets is allowing wearable devices to be integrated with smartphones. Consequently, the wristwear category dominates the market and is expected to continue to do so during the projected period.  Also, smartwatches from firms like Samsung, Sony, and Nike have increased this industry. Furthermore, Latin America accounted for a major portion of the market, owing to advances in the region's sensor technology.

The Brazilian wearable medical devices market dominated the Latin American market in the recent past, accounting for a significant share—availability of advanced technology, increasing healthcare spending, and penetration of smartwatches, smartphones, and tablets. In addition, favorable reimbursement policies and strategies, including partnerships and acquisitions, further propels the market growth.

The Mexican wearable medical devices market is projected to record a promising share in the Latin American market during the forecast period. The factors such as the Growing geriatric population, surge in healthcare spending, and availability of accessible technology are propelling the market growth.

KEY MARKET PLAYERS:

A few of the leading companies operating in the LATAM Wearable Medical Devices Market profiled in this report are Fitbit, Garmin, Jawbone, Polar Electro, Vital connect, Withings SAS, Zephyr Corporation, Basis Science, Omron Corporation, Drager, Lifewatch AG, Sotera Wireless, Abbott Laboratories, and Nuubo.

1.Introduction                        

                1.1 Market Definition            

                1.2 Study Deliverables           

                1.3 Base Currency, Base Year and Forecast Periods             

                1.4 General Study Assumptions            

2. Research Methodology                      

                2.1 Introduction     

                2.2 Analysis Design

                2.3 Research Phases              

                                2.3.1 Secondary Research

                                2.3.2 Primary Research

                                2.3.3 Econometric Modelling

                                2.3.4 Expert Validation

                2.4 Study Timeline 

3. Overview                            

                3.1 Executive Summary         

                3.2 Key Inferences 

                3.3 New Developments         

4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)               

                4.1 Market Drivers 

                4.2 Market Restraints            

                4.3 Key Challenges 

                4.4 Current Opportunities in the Market              

5. Market Segmentation                       

                5.1 By Diagnostic Wearable Devices       

                                5.1.1 Wearable Electro Cardiographs

                                5.1.2 Wearable Sleep  Monitering devices

                                5.1.3 Heart Rate Monitors

                                5.1.4 Blood Pressure Monitors

                                5.1.5 Activity Monitors

                                5.1.6 Electro Encephalographs

                5.2 By Therapeutic Wearable Devices   

                                5.2.1 Pain Management Devices

                                5.2.2 Glucose/Insulin Monitoring Devices

                                5.2.3 Respiratory Therapy Devices

                5.3 By Application  

                                5.3.1 Sports and Fitness

                                5.3.2 Home Healthcare

                                5.3.3 Patient Monitoring

6. Geographical Analysis                       

                6.4.1 Introduction  

                6.4.2 Brazil             

                6.4.3 Argentina      

                6.4.4 Mexico          

7.Strategic Analysis               

                7.1 PESTLE analysis

                                7.1.1 Political

                                7.1.2 Economic

                                7.1.3 Social

                                7.1.4 Technological

                                7.1.5 Legal

                                7.1.6 Environmental

                7.2 Porter’s Five analysis       

                                7.2.1 Bargaining Power of Suppliers

                                7.2.2 Bargaining Power of Consumers

                                7.2.3 Threat of New Entrants

                                7.2.4 Threat of Substitute Products and Services

                                7.2.5 Competitive Rivalry within the Industry

8.Market Leaders' Analysis                   

                8.1 Fitbit

                                8.1.1 Overview

                                8.1.2 Product Analysis

                                8.1.3 Strategic Evaluation and Operations

                                8.1.4 Financial analysis

                                8.1.5 Legal issues

                                8.1.6 Recent Developments

                                8.1.7 SWOT analysis

                                8.1.8 Analyst View

                8.2 Garmin             

                8.3 Jawbone           

                8.4 Polar Electro    

                8.5 Vital connect    

                8.6 Withings SAS   

                8.7 Zephyr Corporation          

                8.8 Basis Science   

                8.9 Omron Corporation          

                8.10 Drager            

                8.11 Lifewatch AG  

                8.12 Sotera Wireless             

                8.13 Abbott Laboratories      

                8.14 Nuubo            

9.Competitive Landscape                      

                9.1 Market share analysis     

                9.2 Merger and Acquisition Analysis     

                9.3 Agreements, collaborations and Joint Ventures             

                9.4 New Product Launches    

10.Expert Opinions                

                10.1 Market Outlook              

                10.2 Investment Opportunities             

Appendix                

                a) List of Tables      

                b) List of Figures    

  1. Latin America Wearable Medical Devices Market, By Region, From 2022 - 2027 (USD Billion)
  2. Latin America Wearable Medical Devices Market, By Diagnostic Wearable Devices, From 2022 - 2027 (USD Billion)
  3. Latin America Wearable Electro Cardiographs Market, By Region, From 2022 - 2027 (USD Billion)
  4. Latin America Wearable Sleep Monitoring Devices Market, By Region, From 2022 - 2027 (USD Billion)
  5. Latin America Heart Rate Monitors Market, By Region, From 2022 - 2027 (USD Billion)
  6. Latin America Blood Pressure Monitors Market, By Region, From 2022 - 2027 (USD Billion)
  7. Latin America Activity Monitors Market, By Region, From 2022 - 2027 (USD Billion)
  8. Latin America Electro Encephalographs Market, By Region, From 2022 - 2027 (USD Billion)
  9. Latin America Wearable Medical Devices Market, By Therapeutic Wearable Devices, From 2022 - 2027 (USD Billion)
  10. Latin America Pain Management Devices Market, By Region, From 2022 - 2027 (USD Billion)
  11. Latin America Glucose/Insulin Monitoring Devices Market, By Region, From 2022 - 2027 (USD Billion)
  12. Latin America Respiratory Therapy Devices Market, By Region, From 2022 - 2027 (USD Billion)
  13. Latin America Wearable Medical Devices Market, By Application, From 2022 - 2027 (USD Billion)
  14. Latin America Sports and Fitness Market, By Region, From 2022 - 2027 (USD Billion)
  15. Latin America Home Healthcare Market, By Region, From 2022 - 2027 (USD Billion)
  16. Latin America Patient Monitoring Market, By Region, From 2022 - 2027 (USD Billion)
  17. Brazil Wearable Medical Devices Market, By Diagnostic Wearable Devices, From 2022 - 2027 (USD Billion)
  18. Brazil Wearable Medical Devices Market, By Therapeutic Wearable Devices, From 2022 - 2027 (USD Billion)
  19. Brazil Wearable Medical Devices Market, By Application, From 2022 - 2027 (USD Billion)
  20. Argentina Wearable Medical Devices Market, By Diagnostic Wearable Devices, From 2022 - 2027 (USD Billion)
  21. Argentina Wearable Medical Devices Market, By Therapeutic Wearable Devices, From 2022 - 2027 (USD Billion)
  22. Argentina Wearable Medical Devices Market, By Application, From 2022 - 2027 (USD Billion)
  23. Mexico Wearable Medical Devices Market, By Diagnostic Wearable Devices, From 2022 - 2027 (USD Billion)
  24. Mexico Wearable Medical Devices Market, By Therapeutic Wearable Devices, From 2022 - 2027 (USD Billion)
  25. Mexico Wearable Medical Devices Market, By Application, From 2022 - 2027 (USD Billion)

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