Growth in latin america infusion pump market can mainly be attributed to factors such as increasing prevalence of chronic diseases owing to the rapidly growing geriatric population, increasing use of infusion products in homecare, and technological advancements in infusion pumps. On the other hand, factors such as the economic slowdown, stringent regulations for product approval, and medication errors associated with infusion pumps as well as related product recalls in the recent past may restrain the growth of the latin america infusion pump market during the forecast period.
The latin america infusion pump market is further segmented into volumetric pumps, syringe pumps, insulin pumps, enteral pumps, ambulatory pumps, patient-controlled analgesia pumps, and implantable pumps. The increasing demand for insulin pumps and ambulatory infusion pumps are driving the demand for these pumps mainly due to the increasing prevalence of diabetes, cancer, and chronic diseases in this region. Ambulatory infusion pumps, such as disposable pumps and chemotherapy pumps, enable mobility of patients during their treatment, owing to which they are increasing being preferred in home care applications.
Brazil accounted for the largest share of the latin america infusion pump market, followed by Mexico and Argentina. The large share of the Brazilian market can be attributed to the high prevalence of chronic diseases, rising penetration of smart pumps, high adoption of ambulatory pumps in the management of chronic diseases, and well-established healthcare infrastructure in the region. Argentina, Colombia, and Chile are expected to offer significant growth opportunities for market players in the forecast period owing to the large patient population, increasing incidence of chronic diseases with changing lifestyles, increasing accessibility to advanced products, improving healthcare facilities, and increasing disposable income of the middle-class population.
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The major players in the latin america infusion pump market are Becton, Dickinson and Company (U.S.), Baxter International, Inc. (U.S.), Hospira, Inc. (U.S.), B. Braun Melsungen AG (Germany), Fresenius SE & CO. KGaA (Germany), Medtronic, Inc. (U.S.), Smiths Medical (U.S.), Terumo Corporation (Japan), Moog, Inc. (U.S.), and Johnson & Johnson (U.S.).
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