Latin America Implantable Medical Devices Market to Reach US$ 12.6 Billion by 2032, Spurred by Increasing Prevalence of Medical Conditions

July 25, 2023 | Healthcare

According to the latest report by IMARC Group, titled "Latin America Implantable Medical Devices Market Report by Product (Orthopedic Implants, Dental Implants, Facial Implants, Breast Implants, Cardiovascular Implants, and Others), Material (Polymers, Metals, Ceramics, Biologics), End User (Hospitals, Ambulatory Surgery Centers (ASCs), Clinics), and Country 2024-2032," the Latin America implantable medical devices market size reached US$ 7.4 Billion in 2023. Implantable medical devices (IMDs) are designed to be surgically implanted into the human body to diagnose, monitor, or treat various medical conditions. They comprise coronary stents, implantable cardiac defibrillators (ICDs), hip implants, insulin pumps, interocular lenses, and pacemakers. They are made of biocompatible materials and intended to interact with the issues, organs, or physiological processes of the body. They are biocompatible and corrosion resistant and used for orthopedics, pacemakers, cardiovascular stents, defibrillators, and neural prosthetics.

Latin America Implantable Medical Devices Market Trends:

The surging prevalence of severe medical conditions, such as heart failure, arrhythmias, Parkinson's disease, essential tremor, and dystonia, represents one of the key factors driving the demand for IMDs in Latin America. Moreover, the increasing aging population, which is more prone to such ailments like cancer and diabetes, is augmenting the market growth in the region. In addition, the rising awareness among patients and healthcare providers about the benefits and potential applications of IMDs is favoring the growth of the market in the region. Apart from this, the growing cases of heart failure due to sedentary lifestyles, unhealthy dietary patterns, high-stress levels, and obesity among the masses are influencing the market positively in the region. Furthermore, the increasing preferences for minimally invasive surgeries (MIS) among healthcare professionals and patients on account of their associated benefits are strengthening the growth of the market in the region. Looking forward, the market value is projected to reach US$ 12.6 Billion by 2032, expanding at a CAGR of 5.94% during 2024-2032.

Market Summary:

  • On the basis of the product, the market has been segmented into orthopedic, dental, facial, breast, cardiovascular, and other implants. Presently, orthopedic implants hold the largest market share.
  • Based on the material, the market has been classified into polymers, metals, ceramics, and biologics. Polymers currently account for the biggest market share.
  • On the basis of the end user, the market has been segregated into hospitals, ambulatory surgery centers (ASCS), and clinics. At present, hospitals dominate the market.
  • Based on the country, the market has been divided into Brazil, Mexico, Argentina, Colombia, Chile, Peru, and others. Amongst these, Brazil enjoys the leading position in the market.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Product, Material, End User, Country
Countries Covered Brazil, Mexico, Argentina, Colombia, Chile, Peru, Others
Customization Scope 10% Free Customization
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Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Latin America Implantable Medical Devices Market to Reach US$ 12.6 Billion by 2032, Spurred by Increasing Prevalence of Medical Conditions
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