South America Patient Monitoring Market Size (2024 - 2029)

The South America Patient Monitoring Market is projected to experience significant growth over the forecast period, driven by an increasing prevalence of chronic diseases linked to lifestyle changes and a growing preference for home and remote monitoring solutions. This expansion is attributed to the ability of patient monitoring technologies to detect subtle changes in physiological data, facilitating self-monitoring and reducing hospital readmissions, unnecessary doctor visits, and travel expenses. These factors collectively contribute to the anticipated increase in the market's scale and scope during the forecast period.

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Market Size of South America Patient Monitoring Industry

Market Snapshot1
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

South America Patient Monitoring Market 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 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
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South America Patient Monitoring Market Size Summary

The South America Patient Monitoring Market is poised for substantial growth, driven by the increasing prevalence of chronic diseases linked to lifestyle changes and a rising demand for home and remote monitoring solutions. The market is characterized by its focus on technologies that enable the early detection of physiological changes, thereby promoting self-monitoring and reducing the need for hospital readmissions and unnecessary medical visits. This shift towards more efficient and cost-effective healthcare delivery is particularly relevant in countries like Colombia and Chile, where cardiovascular diseases are prevalent. The market's expansion is further supported by the growing interest in non-invasive monitoring systems and the potential for significant advancements in emerging economies such as Brazil.

The competitive landscape of the South American patient monitoring market is consolidated, with key players like Koninklijke Philips NV, Boston Scientific Corporation, GE Healthcare, Siemens Healthcare GmbH, and Abbott Laboratories actively engaging in strategic initiatives such as mergers, acquisitions, and new product launches. These efforts are aimed at enhancing their market presence and capitalizing on the lucrative opportunities presented by the increasing demand for patient monitoring devices outside traditional hospital settings. As the market continues to evolve, it is expected to experience robust growth, driven by both technological advancements and the expanding need for effective chronic disease management solutions.

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South America Patient Monitoring Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Rising Burden of Chronic Diseases due to Lifestyle Changes

      2. 1.2.2 Growing Preference for Home and Remote Monitoring

    3. 1.3 Market Restraints

      1. 1.3.1 Resistance from Healthcare Industry Professionals Toward the Adoption of Patient Monitoring Systems

      2. 1.3.2 High Cost of Technology

    4. 1.4 Porter's Five Force Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type of Device

      1. 2.1.1 Hemodynamic Monitoring Devices

      2. 2.1.2 Neuromonitoring Devices

      3. 2.1.3 Cardiac Monitoring Devices

      4. 2.1.4 Multi-parameter Monitors

      5. 2.1.5 Respiratory Monitoring Devices

      6. 2.1.6 Remote Patient Monitoring Devices

      7. 2.1.7 Other Types of Devices

    2. 2.2 By Application

      1. 2.2.1 Cardiology

      2. 2.2.2 Neurology

      3. 2.2.3 Respiratory

      4. 2.2.4 Fetal and Neonatal

      5. 2.2.5 Weight Management and Fitness Monitoring

      6. 2.2.6 Other Applications

    3. 2.3 By End Users

      1. 2.3.1 Home Healthcare

      2. 2.3.2 Hospitals and Clinics

      3. 2.3.3 Other End Users

    4. 2.4 Geography

      1. 2.4.1 South America

        1. 2.4.1.1 Brazil

        2. 2.4.1.2 Argentina

        3. 2.4.1.3 Rest of South America

South America Patient Monitoring Market Size FAQs

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.

In 2024, the South America Patient Monitoring Market size is expected to reach USD 2.34 billion.

South America Patient Monitoring Report Snapshots

South America Patient Monitoring Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)