Biochemistry Analyzers Market, by Product Type (Capnographs and Disposables), by Application (Procedural Sedation, Anesthetics, Diagnosis and Monitoring of Patients, Others), by End User (Hospitals, Ambulatory Surgical Centers, others), and by Country (Brazil, Mexico, Argentina, Rest of Latin America) is estimated to be valued at US$ 39.7 Million in 2023 and is expected to exhibit a CAGR of 17.0% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
The number of Intensive care units (ICUs) is increasing in the region which will lead to more usage of capnography equipment in the ICUs and that will drive the growth of the market during the forecast period. For instance, in April 2022, according to an article published in Rev Bras Ter Intensiva, The Buenos Aires and Centro regions of Argentina have higher structural complexity and a noticeable number of critical care beds for both adult and pediatric intensive care units.
Latin America Capnography Equipment Market – Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdowns in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.
However, the COVID-19 pandemic had a positive impact on the Latin America capnography equipment market, as the usage of capnography equipment has increased.
Latin America Capnography Equipment Market: Key Developments
Increasing initiatives by non-profit organizations to improve the healthcare system in Argentina is expected to boost the market growth in the region over the forecast period. For instance, according to Osteoporosis Journal, in September 2022, Fundación Trauma (FT), an Argentina-based research organization, joined forces with Fundación Navarro Viola (FNV), and the Argentinian Network of Hip Fracture in the Elderly (RAFCA, for its Spanish name) to establish the first national hip fracture registry (HFR). Hip fracture/replacement surgery is one of the most common anesthesia procedures performed worldwide.
Browse 25 Market Data Tables and 27 Figures spread through 110 Pages and in-depth TOC on “Latin America Capnography Equipment Market”- Forecast to 2030, Latin America Capnography Equipment Market, Product Type (Capnographs and Disposables), by Application (Procedural Sedation, Anesthetics, Diagnosis and Monitoring of Patients, Others), by End User (Hospitals, Ambulatory Surgical Centers, others), and by Country (Brazil, Mexico, Argentina, Rest of Latin America)
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Moreover, increasing number of agreements by market players in the region is expected to drive the growth of the market during the forecast period. For instance, in April 2022, PAION AG, a specialty pharmaceutical company, signed an agreement with Cristália Produtos Quimicos Farmaceuticos Ltd, a Brazil-based manufacturer and distributor of pharmaceutical products, for the development and commercialization of remimazolam in Latin America. Remimazolam will be marketed by Cristália for procedural sedation and general anesthesia, and the company expects market approval for both indications (sedation and general anesthesia) in Brazil by 2024. This will lead to more usage of capnography equipment during procedures such as anesthesia, procedural sedation, etc.
Key Takeaways of the Latin America Capnography Equipment Market:
- The Latin America Capnography Equipment Market is expected to exhibit a CAGR of 5.9% during the forecast period due to an increase in collaborations by market players for the development of surgery centers as capnographs can be used in the monitoring during surgeries. For instance, in June 2022, the International Institute of Metabolic Medicine (IIMM) in Tijuana, Mexico, announced a cross-border medical collaboration with the University of California (UC) San Diego Health, in the U.S., to improve safety and standards of care in both countries. IIMM is a new three-story hospital in Tijuana, Mexico's northern border city. It specializes in weight reduction surgery and is currently collaborating with the UC San Diego Health weight-loss surgery clinic.
- Major players operating in the Latin America Capnography Equipment Market include Dragerwerk AG & Co. KGaA, Masimo Corporation, Medtronic, Inc., Nihon Kohden Corporation, Nonin Medical, Inc., Philips Healthcare, Smiths Medical, and Welch Allyn, Inc.