Latin America Ventilator Market

Latin America Ventilator Market Size (2023 to 2028)

As per our analysis report, the Latin American ventilator market size is estimated to be growing at a healthy CAGR between 2023 to 2028.

The growth of the Latin American ventilator market is driven by the outbreak of the COVID-19 pandemic, the high prevalence of respiratory diseases, the rapid growth of the geriatric population, the increasing number of premature births, and the growing number of intensive care beds. The increasing number of surgeries, the growth of the medical tourism and hospitality sector, the people's unhealthy lifestyles, the emerging public and private partnerships, the increase in government assistance, and the development of medical infrastructure are further promoting the ventilator market growth over the forecast period.

Growing aging population across various Latin American regions is anticipated to increase the demand levels for the ventilators during the forecast period. According to the United Nations, the global geriatric population was around 810.4 million in 2019, and by 2050 it is expected to more than double to an estimated population of over 2,010 million. The geriatric population is associated with many serious respiratory disorders that require continuous long-term ventilation.

Some of the significant factors that are expected to boost market growth include an increase in COPD incidence, the growth of the geriatric population, technological innovations, and advancements in portability and supporting government funding and design. According to the World Health Organization (WHO), 68 million people suffer from moderate to severe COPD in 2019, resulting in 4 million deaths. COPD is the third deadliest disease in the world. The increase in COPD, bronchitis, and asthma is due to the increase in the levels of air pollution. WHO data indicates that 9 out of 10 people breathe air containing a high concentration of pollutants. The high prevalence of premature babies has also resulted in the market growing steadily.

However, factors such as budget constraints faced by ventilator manufacturers and healthcare providers and the risks associated with mechanical ventilation procedures, such as bacteria entering the lungs through the endotracheal tube causing pneumonia or lung injury, are expected to limit the growth of the Latin American ventilators market. Many patients depend on reimbursement for their treatment. Various health insurance companies consider ventilators to fall under the “Frequent and Important Maintenance” paid category. Therefore, payment in this category is paid on a monthly rental basis, and patients medically require the equipment for a long time. However, insurance companies do not cover any payment for the purchase and other necessary accessories for ventilators, such as humidifiers.

Impact of COVID-19 on the Latin American Ventilator Market:

The coronavirus has spread to 215 countries and territories and has affected more than 35.6 million people, with nearly 1 million deaths. Due to the COVID-19 outbreak, we estimate that the share of the infectious disease segment has increased and is expected to increase significantly during the forecast period. COVID-19 has given the ventilator market a boost. As a result, this market is expected to experience significant growth from 2022 to 2025.

The increase in ICU admissions due to COVID-19 and readmissions in developed countries and appropriate reimbursement are also responsible for the growth of the intensive care ventilator segment.

In 2020, Brazilian hospitals registered more than 26 ventilators per 100,000 inhabitants. This compares to only 5.15 fans per 100,000 inhabitants in Peru. In 2020, these two nations were most affected by the epidemic of the novel coronavirus disease (COVID-19) in Latin America.

This research report on the Latin American ventilator market has been segmented & sub-segmented into the following categories.

By Type of Interface:

• Invasive ventilation
• Non-Invasive ventilation

By End-users:

• Hospitals and clinics
• Ambulances
• Home care
• Emergency Medical Services

By Mobility:

• Intensive care
• Portable ventilators

By Country:

• Brazil
• Mexico
• Argentina
• Chile
• Rest of Latin America

Geographically, in Latin America, the Brazilian ventilators market is expected to have the highest growth share during the forecast period, owing to the large population and better healthcare infrastructure. The Brazilian government is also focusing on producing new fans through coordination with Brazilian national companies. These factors are expected to drive demand for medical ventilators in Latin America during the forecast period. In addition, Brazil bought about 17,000 fans from other countries.

The Mexican ventilators market is estimated to grow at a lucrative CAGR during the forecast period. Mexico received approximately 251 machines from the United States due to an agreement with its neighboring countries. In addition, the Mexican Medical Device Association has increased local production of ventilators to meet the growing demand for ventilators in hospitals. In addition, Mexico has also ordered 5,500 ventilators from China.

Other Latin American countries such as Argentina, Chile, and Peru are also expected to show healthy growth during the forecast period.

KEY MANUFACTURERS:

Philips, Resmed, Medtronic, Becton, Dickinson and Company, Getinge, Dräger, Smiths Group, Hamilton Medical, GE Healthcare, Fisher & Paykel, Air Liquide, Asahi Kasei, and Allied Healthcare Products are some of the notable ventilator manufacturers in the Latin American market.