Latin America Portable Medical Devices Market Size & Outlook
Latin America portable medical devices market, 2018-2030 (US$M)
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Latin America portable medical devices market highlights
- The Latin America portable medical devices market generated a revenue of USD 4,568.4 million in 2023.
- The market is expected to grow at a CAGR of 12.6% from 2024 to 2030.
- In terms of segment, monitoring devices was the largest revenue generating product in 2023.
- Smart Wearable Medical Devices 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 4,568.4 million |
| Market revenue in 2030 | USD 10,455.2 million |
| Growth rate | 12.6% (CAGR from 2023 to 2030) |
| Largest segment | Monitoring devices |
| Fastest growing segment | Smart Wearable Medical Devices |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Smart Wearable Medical Devices, Diagnostic Imaging, Therapeutics, Monitoring Devices |
| Key market players worldwide | GE Aerospace, OMRON Corp, Vyaire Medical, Samsung BioLogics, Koninklijke Philips NV, Medtronic PLC, Roche Holding AG, Nox Medical |
Other key industry trends
- In terms of revenue, Latin America region accounted for 6.6% of the global portable medical devices market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Latin America is the fastest growing regional market and is projected to reach USD 10,455.2 million by 2030.
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Portable Medical Devices Market Scope
Portable Medical Devices Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America portable medical 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 portable medical devices market will help companies and investors design strategic landscapes.
Monitoring devices was the largest segment with a revenue share of 47.85% in 2023. Horizon Databook has segmented the Latin America portable medical devices market based on smart wearable medical devices, diagnostic imaging, therapeutics, monitoring devices covering the revenue growth of each sub-segment from 2018 to 2030.
Latin America portable medical devices market is primarily driven by Brazil, Mexico, Argentina, and Colombia. Growing investments by market players in the region, proximity to North America, and freetrade agreements with major countries such as the U.S., Canada, Japan, & several European countries are among the factors anticipated to boost the Latin America market during the forecast period.
Government regulations encouraging the commercialization of medical devices in the country are also anticipated to contribute to market expansion. For example, the majority of Latin American nations only require FDA or CE mark approval for marketing approvals. Brazil dominated the Latin American market in 2022 and is expected to maintain its position during the forecast period.
Major investments by key market players in the emerging economy and presence of a large target population are factors expected to drive market growth. However, low affordability of advanced technologies by end users may hinder market growth in the region.
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Our clientele includes a mix of portable medical 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 portable medical devices market, including forecasts for subscribers. This continent databook contains high-level insights into Latin America portable medical devices market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America portable medical devices market size, by country, 2018-2030 (US$M)
Latin America Portable Medical Devices Market Share, 2023 & 2030 (US$M)
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