Latin America Procedure Trays Market Size & Outlook
Latin America procedure trays market, 2017-2030 (US$M)
Related Markets
Latin America procedure trays market highlights
- The Latin America procedure trays market generated a revenue of USD 890.4 million in 2023.
- The market is expected to grow at a CAGR of 8.6% from 2024 to 2030.
- In terms of segment, or was the largest revenue generating product in 2023.
- OR is the most lucrative product 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 890.4 million |
| Market revenue in 2030 | USD 1,581.2 million |
| Growth rate | 8.6% (CAGR from 2023 to 2030) |
| Largest segment | Or |
| Fastest growing segment | OR |
| Historical data covered | 2017 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | OR, Angiography, Ophthalmic |
| Key market players worldwide | Owens & Minor Inc, Cardinal Health Inc, 3M Co, Teleflex Inc, B. Braun, BD, Merit Medical Systems Inc, Mölnlycke Health Care, Hartmann Holdings, Medtronic PLC, CPT Medical |
Other key industry trends
- In terms of revenue, Latin America region accounted for 4.6% of the global procedure trays market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Europe is the fastest growing regional market and is projected to reach USD 13,583.6 million by 2030.
Or was the largest segment with a revenue share of 58.58% in 2023. Horizon Databook has segmented the Latin America procedure trays market based on or, angiography, ophthalmic covering the revenue growth of each sub-segment from 2017 to 2030.
Availability of newer technologies and increasing incidence of chronic conditions are some of the major factors that can be attributed to growth of the market. Prevalence of osteoporosis, although lower than Europe and North America, is quite high in this region. According to International Osteoporosis Foundation, the economic burden of hip fractures will be around USD 13 billion by 2050.
Furthermore, trade agreements, such as North America Free Trade Agreement (NAFTA), facilitate market access in the region and connect the U.S. with Mexico, Brazil, Canada, and other Latin American countries. Supportive government regulations for commercialization of medical devices in the country are also anticipated to support growth of the market.
For instance, most of the Latin American countries only require the U.S. FDA or CE mark approval for filing of premarket approval. According to Mexico’s new Health Accord in 2010, medical equipment that has been approved in the U.S. or Canada can be approved on a fast-track basis in Mexico.
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Procedure Trays Market Scope
Procedure Trays Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America procedure trays market size, by country, 2017-2030 (US$M)
Latin America Procedure Trays Market Outlook Share, 2023 & 2030 (US$M)
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