Latin America Orthopedic Devices Market Size & Outlook
Latin America orthopedic devices market, 2018-2030 (US$M)
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Latin America orthopedic devices market highlights
- The Latin America orthopedic devices market generated a revenue of USD 4,976.0 million in 2023.
- The market is expected to grow at a CAGR of 5% from 2024 to 2030.
- In terms of segment, joint replacement/ orthopedic implants was the largest revenue generating product in 2023.
- Trauma is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Mexico is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 4,976.0 million |
| Market revenue in 2030 | USD 7,012.5 million |
| Growth rate | 5% (CAGR from 2023 to 2030) |
| Largest segment | Joint replacement/ orthopedic implants |
| Fastest growing segment | Trauma |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Joint Replacement/ Orthopedic Implants, Trauma, Sports Medicine, Orthobiologics |
| Key market players worldwide | Medtronic PLC, Stryker Corp, Zimmer Biomet Holdings Inc, DePuy Synthes, Smith & Nephew PLC, Aesculap, Conmed Corp, NuVasive, Enovis Corp |
Other key industry trends
- In terms of revenue, Latin America region accounted for 8.2% of the global orthopedic 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 16,853.3 million by 2030.
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Orthopedic Devices Market Scope
Orthopedic Devices Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America orthopedic 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 orthopedic devices market will help companies and investors design strategic landscapes.
Joint replacement/ orthopedic implants was the largest segment with a revenue share of 41.55% in 2023. Horizon Databook has segmented the Latin America orthopedic devices market based on joint replacement/ orthopedic implants, trauma, sports medicine, orthobiologics covering the revenue growth of each sub-segment from 2018 to 2030.
Latin America is popular for sports such as football or soccer, which is a major reason for all sportsrelated injuries in the region. Injuries sustained during high-contact sports such as football cause tendon ruptures and tears, often requiring surgical interventions for athletes who need to be professionally fit for games.
The economic development in the countries has also contributed to the growth of orthopedic devices market. Opening of new hospitals and improvement in availability of healthcare services are key contributors to the growth of this market. According to an article published in Healio Rheumatology, Latin America’s rheumatoid arthritis prevalence was the highest in the world.
More than a third of indigenous people in Latin America have some form of musculoskeletal disorder. In 2018, the prevalence of osteoarthritis was 9.7%. Although the region’s geriatric population is well below 8%, there is high prevalence of bone-related disorders, which acts as a key driver for growth of the market.
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Our clientele includes a mix of orthopedic devices market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America orthopedic devices market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America orthopedic devices market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America orthopedic devices market size, by country, 2018-2030 (US$M)
Latin America Orthopedic Devices Market Outlook Share, 2023 & 2030 (US$M)
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