Latin America Digital Patient Monitoring Devices Market Size & Outlook
Latin America digital patient monitoring devices market, 2018-2030 (US$M)
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Latin America digital patient monitoring devices market highlights
- The Latin America digital patient monitoring devices market generated a revenue of USD 9,441.7 million in 2023.
- The market is expected to grow at a CAGR of 25.7% from 2024 to 2030.
- In terms of segment, wearable devices was the largest revenue generating type in 2023.
- MHealth is the most lucrative type segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 9,441.7 million |
| Market revenue in 2030 | USD 46,823.2 million |
| Growth rate | 25.7% (CAGR from 2023 to 2030) |
| Largest segment | Wearable devices |
| Fastest growing segment | MHealth |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Wireless Sensor Technology, MHealth, Telehealth, Wearable Devices, Remote Patient Monitoring |
| Key market players worldwide | GE HealthCare Technologies Inc Common Stock, AT&T, Athenahealth, Abbott Laboratories, Koninklijke Philips NV, Hill-Rom, Medtronic PLC, OMRON Corp, Fitbit, Garmin Ltd, ResMed Inc, Siren |
Other key industry trends
- In terms of revenue, Latin America region accounted for 6.7% of the global digital patient monitoring devices market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 126,721.1 million by 2030.
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Digital Patient Monitoring Devices Market Scope
Digital Patient Monitoring Devices Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America digital patient monitoring devices market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to digital patient monitoring devices market will help companies and investors design strategic landscapes.
Wearable devices was the largest segment with a revenue share of 31.3% in 2023. Horizon Databook has segmented the Latin America digital patient monitoring devices market based on wireless sensor technology, mhealth, telehealth, wearable devices, remote patient monitoring covering the revenue growth of each sub-segment from 2018 to 2030.
Latin America’s digital patient monitoring devices market is primarily driven by Brazil, Mexico, Argentina, and Colombia. Growing investments by market players in the region, proximity to North America, freetrade agreements with major countries such as the U.S., Canada, Japan, & several European countries are factors anticipated to boost the Latin American market during the forecast period.
Supportive government regulations to commercialize medical devices in the country are expected to propel market growth. For instance, most of the Latin American countries only require the U.S. FDA or CE mark approval for filing of marketing approvals.
Brazil dominated the Latin American market in 2020 and is expected to maintain its position during the forecast period. Major investments by key market players in the emerging economy, presence of a large target population, and well-equipped hospitals are factors expected to drive the market in Brazil.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America digital patient monitoring devices market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America digital patient monitoring devices market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America digital patient monitoring devices market size, by country, 2018-2030 (US$M)
Latin America Digital Patient Monitoring Devices Market Outlook Share, 2023 & 2030 (US$M)
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