According to the report Latin America Respiratory Devices Market, published by Market Data Forecast, the Latin American market is projected to reach USD 2.4 billion by 2021, at a CAGR of 8.74% from 2016 to 2021.
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. The devices are used in chronic obstructive pulmonary diseases (COPD), a deteriorating lung disease which mainly includes chronic bronchitis, and emphysema. There are two main categories: the air-purifying respirator which forces contaminated air through a filtering element, and the air-supplied respirator in which an alternate supply of fresh air is delivered. Within each category, different techniques are employed to reduce or eliminate noxious airborne contaminants. Other than this, medical respirators are used to assist asthma patients in breathing.
A common type of respiratory device found in hospitals is a medical ventilator. A medical ventilator (or simply ventilator in context) is a machine designed to move breathable air into and out of the lungs, to provide breathing for a patient who is physically unable to breathe, or breathing insufficiently.
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Latin America Respiratory Devices Market: Drivers & Restraints
Latin America Respiratory Devices market is mainly driven by factors such as rise in the number of reported cases of lung disorders such as asthma and COPD. The deteriorating air quality has boosted the disease prevalence and this in turn has boosted the industry. Other factors include increase in the disposable income and rising aging population. However, the industry continues to be hampered by poor accessibility to proper health care, especially in developing and underdeveloped nations. The excessive costs associated with the purchase and operation of such devices only further slows down the market growth.
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Latin America Respiratory Devices Market: Segmentation
By Device Type
- Therapeutic Devices
- BI-PAP Devices
- CPAP Devices
- Oxygen Concentrators
- Diagnostic and Monitoring Devices
- Sleep Test Devices
- Pulse Oximeter
- Peak Flow Meters
- Breathing Circuits
By End Users
- Home Care
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Latin America Respiratory Devices Market: Overview
The Latin American market for respiratory devices is also witnessing some key trends that are likely to impact the market in the coming years. Technology is expanding by leaps and bounds in the healthcare industry and leading players in the Latin American respiratory devices market are looking to provide novel and advanced lab testing and portable wearable medical devices to facilitate ease of use and enhance patient care. Wearable medical devices are also anticipated to play a huge role in the diagnosis and monitoring of disorders. Additionally, portable oxygen concentrators are being adopted as the best devices by choice owing to features such as small shape and easy portability.
Stationary oxygen concentrators adopting pulse flow technology and rechargeable batteries are the future of the respiratory devices ecosystem and are being widely adopted by healthcare practitioners and patients alike. Key players are focussing on pushing the use of portable respiratory devices such as oxygen concentrators, mechanical ventilators, and nebulisers
Latin America Respiratory Devices Market: Region-wise Outlook
Latin American Respiratory Devices Market is segmented into Argentina, Brazil, Mexico and rest of Latin America. Brazil is the top marketplace for Latin America Respiratory Devices followed by Argentina. Mexico is expected to show the fastest growth rate among the nations in the forecast period, with Brazil following closely behind. Other markets included in the rest of Latin America include Uruguay, Paraguay, Colombia, Chile and Bolivia.
Key Questions Answered
- What is the current and future Respiratory Devices market outlook in Latin America? What trends are affecting the Latin American market?
- What is the competitive landscape and market share of major players in the Respiratory Devices market space in Latin America?
- What are the key, high growth markets that Respiratory Devices manufacturers should expand into? Which market segments are growing the fastest?
- What are the unmet needs with the Respiratory Devices currently on the market? How will emerging technologies fulfil these unmet needs?
- What is physician perception and market outlook of Respiratory Devices?
- What are the challenges and barriers that have hindered widespread adoption of Respiratory Devices?
Latin America Respiratory Devices Market: Key Players
Respiratory Devices with several brand names are being manufactured in various parts of the world. The Latin American market for Respiratory devices has a lot of scope with customized design and feasible products Some of the major companies dominating this market are Masimo Corporation, ResMed, Inc., Fisher and Paykel Healthcare Limited, Philips Healthcare, Covidien plc, and CareFusion Corporation.
Reasons to buy Latin America Respiratory Devices Market Report:
- Regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
- Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y 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 macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses
- A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), 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
- Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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