South America Patient Monitoring Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 2.34 Billion |
| Market Size (2029) | USD 3.02 Billion |
| CAGR (2024 - 2029) | 5.12 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
South America Patient Monitoring Market Analysis
The South America Patient Monitoring Market size is estimated at USD 2.34 billion in 2024, and is expected to reach USD 3.02 billion by 2029, growing at a CAGR of 5.12% during the forecast period (2024-2029).
The major factors driving the growth of the market include the growing burden of chronic diseases due to lifestyle changes and the rising preference for home and remote monitoring.
According to the Organisation for Economic Co-operation and Development (OECD), in 2017, in Colombia, 176 deaths (per 100,000 population) were caused due to heart attacks and other ischemic heart diseases, in Chile 82 deaths (per 100,000 population), respectively. Therefore with the high burden of these chronic diseases, the patient monitoring technologies come into play and identify small changes in the patient's physiological data, hence promoting self-monitoring. In addition, it also reduces readmissions, and prevents avoidable hospitalizations, decreases the number of unnecessary trips to the doctor's office, and reduces travel-related expenses. Thus, owing to the above-mentioned factors it is expected to show significant growth over the forecast period.
South America Patient Monitoring Market Trends
This section covers the major market trends shaping the South America Patient Monitoring Market according to our research experts:
Hemodynamic Monitoring Devices Segment is Expected to Grow Fastest Over the Forecast Period
The major factors driving the growth of this segment include the rising burden of chronic diseases due to lifestyle changes and the growing demand for home-based and non-invasive monitoring systems. According to the International Diabetes Federation in 2019, the healthcare spending on diabetes in Argentina was around USD 2.15 billion which is forecasted to reach USD 2.72 billion by 2045. Therefore with the increasing burden of cardiovascular diseases and diabetes, which is expected to show a positive impact on the market.
In addition, the growing demand for patient monitoring devices in non-hospital settings and the emerging economies such as Brazil are expected to offer lucrative growth opportunities for market players in the patient monitoring market. Thus, owing to the above-mentioned factors it is expected to show significant growth over the forecast period.
South America Patient Monitoring Industry Overview
The South American patient monitoring market is consolidated competitive. The companies are implementing certain strategic initiatives, such as mergers, new product launches, acquisitions, and partnerships that help them in strengthening their market position. Some of the market players are Koninklijke Philips NV, Boston Scientific Corporation, GE Healthcare (GE Company), Siemens Healthcare GmbH, Abbott Laboratories, Becton, Dickinson and Company, and others.
South America Patient Monitoring Market Leaders
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Koninklijke Philips NV
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Boston Scientific Corporation
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GE Healthcare (GE Company)
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Siemens Healthcare GmbH
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Abbott Laboratories
*Disclaimer: Major Players sorted in no particular order
South America Patient Monitoring Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Rising Burden of Chronic Diseases due to Lifestyle Changes
- 4.2.2 Growing Preference for Home and Remote Monitoring
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4.3 Market Restraints
- 4.3.1 Resistance from Healthcare Industry Professionals Toward the Adoption of Patient Monitoring Systems
- 4.3.2 High Cost of Technology
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4.4 Porter's Five Force Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 By Type of Device
- 5.1.1 Hemodynamic Monitoring Devices
- 5.1.2 Neuromonitoring Devices
- 5.1.3 Cardiac Monitoring Devices
- 5.1.4 Multi-parameter Monitors
- 5.1.5 Respiratory Monitoring Devices
- 5.1.6 Remote Patient Monitoring Devices
- 5.1.7 Other Types of Devices
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5.2 By Application
- 5.2.1 Cardiology
- 5.2.2 Neurology
- 5.2.3 Respiratory
- 5.2.4 Fetal and Neonatal
- 5.2.5 Weight Management and Fitness Monitoring
- 5.2.6 Other Applications
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5.3 By End Users
- 5.3.1 Home Healthcare
- 5.3.2 Hospitals and Clinics
- 5.3.3 Other End Users
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5.4 Geography
- 5.4.1 South America
- 5.4.1.1 Brazil
- 5.4.1.2 Argentina
- 5.4.1.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Koninklijke Philips NV
- 6.1.2 Boston Scientific Corporation
- 6.1.3 GE Healthcare (GE Company)
- 6.1.4 Siemens Healthcare GmbH
- 6.1.5 Abbott Laboratories
- 6.1.6 Baxter International Inc.
- 6.1.7 Becton, Dickinson and Company
- 6.1.8 Johnson & Johnson
- 6.1.9 Masimo Corporation
- 6.1.10 Omron Corporation
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablitySouth America Patient Monitoring Industry Segmentation
As per the scope of this report, patient monitoring devices are the monitoring devices that continuously monitor the patient's vital parameters, like blood pressure and heart rates, by using a medical monitor and collecting medical (and other) data from individuals. The South America Patient Monitoring Market is segmented by Type of Device, Application (Cardiology, Neurology, Respiratory, Fetal and Neonatal, Weight Management and Fitness Monitoring, and Other Applications), End-User, and Geography.
| By Type of Device | Hemodynamic Monitoring Devices | |
| Neuromonitoring Devices | ||
| Cardiac Monitoring Devices | ||
| Multi-parameter Monitors | ||
| Respiratory Monitoring Devices | ||
| Remote Patient Monitoring Devices | ||
| Other Types of Devices | ||
| By Application | Cardiology | |
| Neurology | ||
| Respiratory | ||
| Fetal and Neonatal | ||
| Weight Management and Fitness Monitoring | ||
| Other Applications | ||
| By End Users | Home Healthcare | |
| Hospitals and Clinics | ||
| Other End Users | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
South America Patient Monitoring Market Research FAQs
How big is the South America Patient Monitoring Market?
The South America Patient Monitoring Market size is expected to reach USD 2.34 billion in 2024 and grow at a CAGR of 5.12% to reach USD 3.02 billion by 2029.
What is the current South America Patient Monitoring Market size?
In 2024, the South America Patient Monitoring Market size is expected to reach USD 2.34 billion.
Who are the key players in South America Patient Monitoring Market?
Koninklijke Philips NV, Boston Scientific Corporation, GE Healthcare (GE Company), Siemens Healthcare GmbH and Abbott Laboratories are the major companies operating in the South America Patient Monitoring Market.
What years does this South America Patient Monitoring Market cover, and what was the market size in 2023?
In 2023, the South America Patient Monitoring Market size was estimated at USD 2.23 billion. The report covers the South America Patient Monitoring Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the South America Patient Monitoring Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
South America Patient Monitoring Industry Report
Statistics for the 2024 South America Patient Monitoring market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. South America Patient Monitoring analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
