The South America Patient Monitoring Market size is estimated at USD 2.34 billion in 2024, and is expected to reach USD 3.02 billion by 2029, growing at a CAGR of 5.12% during the forecast period (2024-2029).
The major factors driving the growth of the market include the growing burden of chronic diseases due to lifestyle changes and the rising preference for home and remote monitoring.
According to the Organisation for Economic Co-operation and Development (OECD), in 2017, in Colombia, 176 deaths (per 100,000 population) were caused due to heart attacks and other ischemic heart diseases, in Chile 82 deaths (per 100,000 population), respectively. Therefore with the high burden of these chronic diseases, the patient monitoring technologies come into play and identify small changes in the patient's physiological data, hence promoting self-monitoring. In addition, it also reduces readmissions, and prevents avoidable hospitalizations, decreases the number of unnecessary trips to the doctor's office, and reduces travel-related expenses. Thus, owing to the above-mentioned factors it is expected to show significant growth over the forecast period.
In addition, the growing demand for patient monitoring devices in non-hospital settings and the emerging economies such as Brazil are expected to offer lucrative growth opportunities for market players in the patient monitoring market. Thus, owing to the above-mentioned factors it is expected to show significant growth over the forecast period.
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The major factors driving the growth of the market include the growing burden of chronic diseases due to lifestyle changes and the rising preference for home and remote monitoring.
According to the Organisation for Economic Co-operation and Development (OECD), in 2017, in Colombia, 176 deaths (per 100,000 population) were caused due to heart attacks and other ischemic heart diseases, in Chile 82 deaths (per 100,000 population), respectively. Therefore with the high burden of these chronic diseases, the patient monitoring technologies come into play and identify small changes in the patient's physiological data, hence promoting self-monitoring. In addition, it also reduces readmissions, and prevents avoidable hospitalizations, decreases the number of unnecessary trips to the doctor's office, and reduces travel-related expenses. Thus, owing to the above-mentioned factors it is expected to show significant growth over the forecast period.
South America Patient Monitoring Market Trends
Hemodynamic Monitoring Devices Segment is Expected to Grow Fastest Over the Forecast Period
The major factors driving the growth of this segment include the rising burden of chronic diseases due to lifestyle changes and the growing demand for home-based and non-invasive monitoring systems. According to the International Diabetes Federation in 2019, the healthcare spending on diabetes in Argentina was around USD 2.15 billion which is forecasted to reach USD 2.72 billion by 2045. Therefore with the increasing burden of cardiovascular diseases and diabetes, which is expected to show a positive impact on the market.In addition, the growing demand for patient monitoring devices in non-hospital settings and the emerging economies such as Brazil are expected to offer lucrative growth opportunities for market players in the patient monitoring market. Thus, owing to the above-mentioned factors it is expected to show significant growth over the forecast period.
South America Patient Monitoring Industry Overview
The South American patient monitoring market is consolidated competitive. The companies are implementing certain strategic initiatives, such as mergers, new product launches, acquisitions, and partnerships that help them in strengthening their market position. Some of the market players are Koninklijke Philips NV, Boston Scientific Corporation, GE Healthcare (GE Company), Siemens Healthcare GmbH, Abbott Laboratories, Becton, Dickinson and Company, and others.Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
This product will be delivered within 2 business days.
Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Koninklijke Philips NV
- Boston Scientific Corporation
- GE Healthcare (GE Company)
- Siemens Healthcare GmbH
- Abbott Laboratories
- Baxter International Inc.
- Becton, Dickinson and Company
- Johnson & Johnson
- Masimo Corporation
- Omron Corporation
Methodology
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