Latin America electroceuticals market is expected to grow at a CAGR of around 4% during the forecast period. Latin America registers the significant growth owing to major contribution of the countries including Brazil, Mexico among others. The growing prevalence of ischemic heart disease, age-related and other hearing loss, and epilepsy is creating demand for electroceuticals, thereby, driving the growth of Latin America electroceuticals market. For instance, According to WHO, hearing loss is highest in Sub-Saharan, Latin America, and Caribbean region. The values for the prevalence of age-related and other hearing loss in 2012 was 84.6 million people, which increased up to 96.4 million in 2017. As per the Institute for Health Metrics and Evaluation, in 2017, around 0.4 million fatalities occurred in Latin America due to ischemic heart disease. This noticeable prevalence of diseases is expected to drive the industry growth.
Growing prevalence of spinal cord injuries, age-related and other hearing losses, and ischemic heart disease is anticipated to create demand for electroceuticals in Brazil and CVD, CHD, stroke, heart failure, atrial fibrillation, and other heart diseases are the leading causes of fatalities in Mexico is driving the growth of Latin America electroceuticals market. The market is segmented on the basis of product and end-user. On the basis of product, the market is segmented into cardioverter defibrillators and cardiac pacemaker, deep brain stimulators (DBS), spinal cord stimulators (SCS), vagus nerve stimulators, hearing aids, and cochlear implants, and others such as sacral nerve stimulators, and transcutaneous electrical nerve stimulators. By end-user segment, the market is segmented into hospitals & clinics and homecare and other.
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Latin America Electroceuticals Market Segmentation
By Product and its Application
- Cardioverter Defibrillators and Cardiac Pacemaker
- Arrhythmias
- Deep Brain Stimulators
- Parkinson’s Disease
- Depression
- Spinal Cord Stimulators
- Failed Back Syndrome
- Ischemia
- Vagus Nerve Stimulators
- Epilepsy
- Cochlear Implants
- Sensorineural Hearing Loss
- Others (Sacral Nerve Stimulators, Transcutaneous Electrical Nerve Stimulators)
- Urinary Incontinence
- Treatment-Resistant Depression
By End-User
- Hospitals and Clinics
- Homecare and Other
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Company Profiles
- Abbott Laboratories, Inc.
- Advanced Bionics AG
- Boston Scientific Corp.
- Cochlear, Ltd.
- Demant A/S
- Edwards Lifesciences Corp.
- Getinge AB
- GlaxoSmithKline PLC
- Medtronic PLC
- Sonova Holding AG
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