Latin America Surgical Retractors Market 2022-2028

Latin America Surgical Retractors Market 2022-2028

MARKET OUTLOOK

A report by Triton Market Research highlights that the Latin America surgical retractors market is expected to depict growth at a CAGR of 6.20% during the forecast period 2022-2028. Brazil, Mexico and Rest of Latin America are studied across the market in this region.

Argentina has one of the highest healthcare expenditure rates, amounting to 9% of its GDP. The country is highly dependent on imports of surgical equipment and devices. As per industry sources, it has around 5178 hospitals and conducts approximately 2.3 million surgical procedures annually. With the help of Universal Healthcare Coverage (CUS), the Government of Argentina emphasizes efficient spending, accessibility, and modernization in the healthcare market. Thus, such factors are anticipated to aid the country’s market growth.

In Chile, the annual healthcare expenditure amounts to almost 5% of its GDP. By the end of 2021, spending on public healthcare had risen by 8.9%, amounting to $13.5 billion. Spending on secondary and tertiary health treatments was $8.7 million in 2021. Further, 3,814 public and private healthcare facilities have been established in the country over the past ten years, including hospitals and outpatient facilities. Furthermore, the production of medical equipment in Chile is limited. While domestic manufacturing is restricted to disposable medical instruments, its demands are filled by imports for more cutting-edge equipment. Thus, a high number of medical facilities (customer base) and limited in-house production of medical equipment are the factors expected to boost the country’s market growth.

Argentina and Chile are the countries covered in Rest of Latin America.

COMPETITIVE OUTLOOK

Stryker Corporation, Mediflex, Medtronic Plc, B Braun Holding GmbH & Co KG, Teleflex Inc and Integra Life Sciences are established players in the surgical retractors market.