Argentina General Surgical Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Argentina General Surgical Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Argentina's general surgical devices market is expected to register a CAGR of 5.2% over the forecast period.

The pandemic has had ramifications on the methods of performing various surgical procedures. There were strict guidelines specific to each specialty that were to be implemented and followed by all surgeons to be able to provide safe and effective care to their patients during the COVID-19 pandemic. The volume of surgeries had significantly declined during the pandemic, owing to the stringent guidelines by the regulatory authorities to avoid all non-emergent surgeries. As per the study published in October 2021 titled "Concerns and reflections on the second wave of COVID-19 in Argentina: A perspective by general surgery residents", in Argentina, the occupancy of beds in intensive care by patients with COVID-19 was higher, so some institutions opted to operate only low-risk patients and surgeries of medium and low complexity, with the aim that hospital discharge was the same day of the procedure. Thus, the ideal time for elective surgeries remained controversial and depended on each case and the hospital center. Thus, owing to such circumstances, the market for general surgical devices was greatly hampered amid the outbreak, however, the resumption of elective procedures and growing complications associated with COVID-19 patients in the latter phase of the pandemic augmented the growth of the market, in turn boosting it to attain its pre-pandemic levels.

The key factors propelling the growth of the market include the rising use of minimally invasive devices; a surge in chronic diseases; and increasing healthcare expenditure. For instance, as per the study published in April 2021, titled "Impact, incidence and prevalence of musculoskeletal injuries in senior amateur male rugby: an epidemiological study", in the National Library of Medicine, 250 players, and 180 injuries were assessed in the study in Argentina. The study concluded that the injury prevalence was 52.4%. The incidence rate per match and training was 30.9/1000 player-match-hours and 0.77/1000 player-training-hours, respectively. Such an increased prevalence of musculoskeletal injuries may further lead to surgical procedures, ultimately boosting the demand for surgical devices.

Moreover, several factors may potentially explain the rapid rise of services obtained by the elderly as hospital inpatients; changes in demographic composition; an increased physician-to-population ratio; technological changes; increased post-discharge complications as a consequence of decreased length-of-stay; and changes in insurance coverage.

Likewise, as per the World Data Atlas 2021, the population aged 65 years and above for Argentina was 11.5%. The population aged 65 years and above in Argentina increased from 7.2% in 1972 to 11.5% in 2021, growing at an average annual rate of 0.95% in 2021. This increase in the geriatric population is likely to propel the demand for general surgery devices as this age group is more prone to chronic and lifestyle diseases.

Thus, the aforementioned factors are altogether contributing to the growth of the market. However, stringent government regulations and improper reimbursement for surgical devices are expected to hinder the growth of the market over the forecast period.

Key Market TrendsHandheld Device Segment is Expected to Dominate Argentina's General Surgical Devices Market During the Forecast Period

Handheld surgical devices are becoming increasingly popular among practitioners. The development of advanced devices, such as robotic handheld surgical devices for laparoscopic interventions, enhances a surgeon’s dexterity. Many innovations have been made due to the need for high reliability, accuracy, and patient safety.

Needle holders are very similar in shape to hemostats, featuring jaws and handles. Needle holders allow the needle to be locked into place for sutures in a variety of tissue types. Surgical operations demand surgeons to frequently engage in hand-intensive activities, including suturing. The market segment is growing due to the rise in minimally invasive surgical procedures and an increase in outpatient surgeries. As per the study published in January 2021, titled "Optimizing the use of cesarean section in Argentina: design and methodology of a formative research for the development of interventions", the study was implemented in seven provinces of Argentina where hospitals that have more than 1,000 births each year had a cesarean section rate higher than 27%. Moreover, according to World Health Organization (WHO) updates from June 2021, cesarean section use continues to rise globally, accounting for more than 1 in 5 (21%) childbirths. If this trend continues, by 2030, the highest rates are likely to be 54% in Latin America and the Caribbean. Thus, the segment is expected to witness significant growth over the forecast period due to the abovementioned factors.

Moreover, the key players are focused on strategic partnerships, mergers, and acquisitions to launch innovative and technologically advanced products to fuel the market demand.

Thus, all the aforementioned factors are expected to boost the segment over the forecast period.

Competitive Landscape

The Argentina general surgical devices market is fragmented and competitive due to the presence of several international and domestic players in the country. Some of the major players in the market are B. Braun Melsungen AG, Boston Scientific Corporation, Cadence Inc., Conmed Corporation, and Johnson & Johnson, among others.

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