The South America medical oxygen concentrators market is valued at US$ 275.18 Mn in 2018 and is expected to grow at a CAGR of 7.2% over the forecast period to reach a US$ yy Mn by 2026.
Brazil and Argentina are the two largest markets for medical oxygen concentrators in the region, Rest of the countries in the regions cumulatively accounted for less than 40% of the South American market value for medical oxygen concentrators in 2018. Relatively advanced healthcare infrastructure, healthcare spending and high population density in Brazil compared to other South American countries is the primary factor for the dominant share of the respiratory equipment market in the region.
The market for respiratory equipment is untapped in many South American countries due to low healthcare access and low disease awareness. For instance, Argentina represents a potential market for respiratory equipment with more than 300,000 health professionals and 5000+ hospitals in the country. The development of medical tourism in South America in recent years has been very profitable for destination country economies. Over 1.4 million Americans visited South America for medical cases in 2016. In search of lower costs and greater efficiencies, governments are consolidating their tender processes. Selling to the government can represent up to 70% of a company’s sales. These initiatives are encouraging local medical manufacturers and distributors. High adoption of portable oxygen concentrators and liquid oxygen devices has increased the market growth in countries such as Brazil, Argentina and Peru.
The development of portable oxygen concentrators and the emergence of oxygen therapy for homecare for better patient compliance will drive the future market growth. Companies are focusing on broadening their product portfolio by partnering with or acquiring smaller companies or by launching new products. Vendors are focusing on manufacturing quiet, energy-efficient, and lightweight oxygen concentrators to increase their share in the homecare customer segment.
In developed countries such as Brazil and Argentina, vendors are focusing on launching portable oxygen concentrators that can be used at hospitals as well as at home. With the advent of oxygen concentrators, the adoption of oxygen cylinders has decreased in the South America market.
Market Dynamics
Drivers
- Increasing Number Of ICU Cases
- Ease Of Use
- Increasing Number Of Asthma and COPD In Geriatric Population
Restraints
- High Cost Of Devices
Increasing Number Of ICU Cases
Increasing number of ICU cases are fueling the South America oxygen concentrators market. In critical care, the monitoring is essential to the daily care of ICU patients, the decisive endpoint is the supply of oxygen to tissues according to their metabolic needs in order to fuel mitochondrial respiration, therefore enhanced and purified oxygen supply is required in intensive care units.
According to Brazilian Critical Care Society in 2016, there were approximately 36,000 ICU beds in Brazil which is one of the largest number of ICU beds in the world per population. These ICU require oxygen concentrators to deliver purified oxygen. There were 25 ICU beds per 100,000 inhabitants 7.6 public ICU beds per 100,000 inhabitants
According to Brazilian Intensive Care units (ICUs) and Association of ICU, the incidence, prevalence and mortality of ICU-treated sepsis is high in Brazil and 420 000 ICU-treated sepsis are being registered annually which requires purified oxygen during the treatment More than 230,000 adults die from sepsis in ICUs every year 55.7 percent of sepsis cases in ICUs end in death
According to Brazilian National Health System in 2017, by 2030 coronary artery disease hospitalizations are estimated to reach 5 to 8% of adults aged above 40 years and require highly purified oxygen for faster recovery
According to Education and Training Program of the Brazilian Society of Cardiovascular Surgery in 2017, 100,000 cardiac surgical procedure are performed annually and among these surgeries, the highest percentage is represented by coronary artery bypass grafting, followed by valve surgery, pacemaker or implantable cardioverter/defibrillator, congenital, aortic procedures, heart transplantation which highly require purified oxygen to the patient during the procedure.
Geographical Analysis
Brazil oxygen concentrators market is valued at USD 86.82 Mn in 2018 and is estimated to grow at a CAGR of 7.9% over the forecast period to reach a USD yy Mn by 2026. Brazil medical oxygen concentrators market holds 31.5% of market share in 2018, and is expected to increase by 33.1% by 2026, for South America medical oxygen concentrators market. The collective revenue of Brazil oxygen concentrators is expected to generate USD 986.8 Mn by 2026.
The number of surgeries, ICU cases are increasing in Brazil that require oxygen concentrators during these procedures. For instance, The Brazilian Critical Care Society and National Health Surveillance Agency are focusing on implementing various supportive care measures in ICUs and emergency departments. Key vendors are planning to strengthen their market position in Brazil through formation of co-marketing or distribution partnerships with local vendors.
Health care companies are taking advantage of the foreign exchange bargain and poison themselves for maximum advantage by acquiring and investing in Brazil, for instance, UnitedHealth Group in Brazil acquiring the local companies
Brazilian government recently opened the healthcare market’s doors to foreign investors, and addition of 13,000 hospital beds by 2017 reinvigorated demand for devices and hospital equipment
Kare Medical and Analytical Devices Ltd. Co are leading distributor partnered with oxygen concentrators manufacturers like Hikoneb, PureBreath, EcoAspir and distributes the devices in Brazil
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