Latin America Extracellular Matrix Patches Market Size & Outlook
Latin America extracellular matrix patches market, 2018-2030 (US$M)
Latin America extracellular matrix patches market highlights
- The Latin America extracellular matrix patches market generated a revenue of USD 1.2 million in 2023.
- The market is expected to grow at a CAGR of 8.3% from 2024 to 2030.
- In terms of segment, cardiac repair was the largest revenue generating application in 2023.
- Cardiac Repair is the most lucrative application segment registering the fastest growth during the forecast period.
Latin America data book summary
| Market revenue in 2023 | USD 1.2 million |
| Market revenue in 2030 | USD 2.1 million |
| Growth rate | 8.3% (CAGR from 2023 to 2030) |
| Largest segment | Cardiac repair |
| Fastest growing segment | Cardiac Repair |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Cardiac Repair |
| Key market players worldwide | Cook Group, Coloplast A/S ADR, Smith & Nephew PLC, Koninklijke Philips NV, MTF Biologics, Boston Scientific Corp, Medtronic PLC, Baxter International Inc |
Other key industry trends
- In terms of revenue, Latin America region accounted for 3.9% of the global extracellular matrix patches 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 9.0 million by 2030.
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Extracellular Matrix Patches Market Scope
Extracellular Matrix Patches Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America extracellular matrix patches 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 extracellular matrix patches market will help companies and investors design strategic landscapes.
Cardiac repair was the largest segment with a revenue share of 100% in 2023. Horizon Databook has segmented the Latin America extracellular matrix patches market based on cardiac repair covering the revenue growth of each sub-segment from 2018 to 2030.
Latin America is one of the emerging markets with high growth potential and improving healthcare sector. Latin America is the preferred destination for medical tourism due to its proximity to the U.S. The cost of healthcare services in this region is comparatively lower than their home countries, which drives the growth of Latin America’s healthcare sector.
Some countries preferred in this region for medical tourism are Mexico, Brazil, Chile, and Costa Rica. Growing medical tourism in this region is expected to increase the number of surgical procedures being performed, which in turn is expected to propel the growth of ECM patches market over the forecast period.
According to Pan American Health Organization (PAHO), the Latin America and the Caribbean (LAC) spent about 6.7% of regions GDP on healthcare expenditure in 2011. Such higher healthcare expenditure by Latin American countries is expected to increase the adoption of technologically advanced ECM patches for various surgical procedures such as cardiac repair, vascular repair, pericardial repair, dural repair, soft tissue repair, and wound healing procedures.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America extracellular matrix patches market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America extracellular matrix patches market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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