Market Trends of South America Cardiac Monitoring Industry
This section covers the major market trends shaping the South America Cardiac Monitoring Market according to our research experts:
Hospitals and Clinics is Expected to Witness Growth Over the Forecast Period
The majority of cardiovascular diseases are treated in hospitals and clinics. The ECG Monitors, event recorders, implantable cardiac loop recorders, pacemakers, defibrillators, cardiac resynchronization therapy (CRT) devices, and smart wearables are generally used in hospitals and clinics for recovering patients suffering from cardiovascular diseases.
The outbreak of the pandemic has increased the in-hospital mortality of patients suffering from cardiac arrest, especially among patients who have suffered from COVID-19. According to the study titled, 'A Multicenter Evaluation of Survival After In-Hospital Cardiac Arrest in Coronavirus Disease 2019 Patients' published in May 2021, in-hospital cardiac arrest survival among COVID-19 patients has been reported to range from 0.0% to 12.0% in South America. Similarly, according to the study titled, 'Effects of COVID-19 on in-hospital Cardiac Arrest: Incidence, Causes, and Outcome - a Retrospective Cohort Study' published in February 2021, hospital admissions declined during the pandemic, but a higher incidence of in-hospital cardiac arrest was observed. It also reported that in-hospital cardiac arrest in patients with COVID-19 was a common phenomenon compared to patients with non-COVID-19-related respiratory failure.
Therefore, increasing in-hospital cardiac arrest cases in South America is anticipated to increase the demand for cardiac monitoring devices, as these are one of the essential requirements for recovering patients from cardiovascular diseases, thereby considerable segment growth is expected over the forecast period.
Brazil is Expected to Dominate the South America Cardiac Monitoring Market Over the Forecast Period
Brazil is expected to dominate the overall South America cardiac monitoring market, over the forecast period. The growth is due to factors such as the rising cases of cardiovascular diseases, diabetes, and hypertension. For instance, as per the study titled, "Characterization of Brazilian hospital admissions due to cardiovascular diseases: a longitudinal study" published in June 2020, it is estimated that around three-quarters of all deaths related to cardiovascular diseases occur in low and middle-income countries such as Brazil. It also stated that cardiovascular diseases were responsible for more than 10.0% of all hospital admissions in Brazil.
Furthermore, as per the PLOS journal published in September 2021, cardiovascular diseases represent a significant public health problem, as they are the leading cause of death and disability affecting adults of full working age, accounting for about 27.7% of deaths in Brazil. Similarly, as per the report published by the International Diabetes Federation in 2021, the number of people living with diabetes per 1,000 population in Brazil was around 15,733.6 in 2021.
Therefore, due to the abovementioned factors, the market is anticipated to witness considerable growth over the forecast period.
