Market revenue in 2023 | USD 15.6 million |
Market revenue in 2030 | USD 24.3 million |
Growth rate | 6.5% (CAGR from 2023 to 2030) |
Largest segment | Cardiac |
Fastest growing segment | Dermatology |
Historical data covered | 2018 - 2022 |
Base year for estimation | 2023 |
Forecast period covered | 2024 - 2030 |
Quantitative units | Revenue in USD million |
Market segmentation | Cardiac, Dermatology, Nasal |
Key market players worldwide | Medtronic PLC, Becton Dickinson & Co, Edwards Lifesciences Corp, LivaNova PLC, Smiths Group PLC, Boston Scientific Corp |
Cardiac was the largest segment with a revenue share of 46.79% in 2023. Horizon Databook has segmented the Latin America cannula market based on cardiac, dermatology, nasal covering the revenue growth of each sub-segment from 2018 to 2030.
Brazil is expected to majorly drive growth of Latin America cannula market. Healthcare spending in Brazil and other Latin American countries is increasing. Brazil’s per capita healthcare spending in 2015. In addition, government initiatives, such as partnerships or collaborations, health insurance programs, and enhancing primary care access in various Latin American countries, are expected to create growth opportunities for market players during the forecast period. Furthermore, rapid economic development and high prevalence of target diseases in the region are expected to propel the market growth.
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