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Brazil dominates the pulse oximeter market in Latin America: Actual Market Research
Jun, 24
2021

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Brazil dominates the pulse oximeter market in Latin America: Actual Market Research

 

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Latin America region is still in the developing phase, given its poor economic conditions. However, the region poses as one of the most potential markets given the increasing prevalence of chronic diseases, especially in the newborn. Globally, the region is the least contributing region, valued at USD 0.08 Billion in the year 2015. The region has 20 countries including, Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Cuba, The Dominican Republic, etc. Brazil dominates the pulse oximeter market in this region; it holds the largest market share in the region since 2015. The research report titled Latin America Pulse Oximeter Market Outlook, 2026 by Actual Market Research categorizes the market to forecast the revenues and analyze the trends in each of the following segments: based on product type, based on end-users, based on countries & major companies.

Growing usage of advanced medical devices and pulse oximeters in clinical practices, in monitoring and treatment procedures of sportspersons and athletes, are expected to boost the market growth in the region. In the forecasted period, the market of the fingertip oximeter segment is expected to grow over 10% CAGR. The cases of chronic respiratory diseases are increasing at an alarming rate due to tobacco smoking, biomass fuel air pollution, and high exposure to dust in the region, which is to influence the growth of pulse oximeter. 

Latin America has a huge pulse oximeter market for hospitals and other healthcare. This is because people in many countries of this region are not much educated; they have less awareness and don?€™t have as much money. But there is a major shift in the educated people and awareness about such products in recent years which has caused an increase in the demand for oximeters for homecare. 

Few countries which have economic power in the region are Chile, Brazil, and Argentina. Because of poor economic conditions, the countries do not have proper education and awareness about medical devices, which impacts the pulse oximeter market in this region. But slowly and steadily the education rate is growing and more and more people are becoming aware of Diseases like COPD, asthma, pneumonia, etc. which affect the blood oxygen levels in the human body and need regular monitoring. Coronavirus is also one of the reasons there has been an increase in the demand for oximeters in hospitals and among people. Mexico lacks any norms for newborn screening. The country is one of the largest medical device exporters, having India as its main importer. This implies that Mexico can be a potential market for pulse oximeters since there are no strict manufacturing regulations in Mexico in the projected period.