Latin American Trauma Device and Reconstructive Joint Implant Market Will Grow to $1.75 Billion by 2022

July 8, 2014

Improving Health Care and Mandatory Accident Insurance in Some Countries Will Drive Procedure Volumes, According to Findings from Decision Resources Group

BURLINGTON, Mass., July 8, 2014 /PRNewswire/ — Decision Resources Group finds that the market for trauma devices and reconstructive joint implants in Argentina, Brazil, Colombia and Mexico will be driven by favorable demographics, high numbers of motor vehicle accidents and improving access to health care, which will allow more patients to undergo these procedures. However, limited health care facility budgets will continue to hinder market growth to some extent. As a result, the market will expand moderately through 2022 to reach a value of approximately $1.75 billion.


Other key findings from Decision Resources Group’s coverage of the Latin American trauma device and reconstructive joint implant market:

    --  Health care: Improving insurance coverage throughout Latin America and
        the introduction of universal health care in Mexico and Colombia will
        contribute to growing numbers of procedures being performed because
        patients will be better able to afford them.
    --  Declining prices: Limited health care budgets and reimbursement that
        does not cover premium-priced products will continue to drive preference
        for lower-cost domestic devices. As a result, aggregate product prices
        will decline slightly through 2022.
    --  Vehicle accidents: Trauma currently represents about 65 percent of total
        procedures. Latin America has some of the highest motor vehicle accident
        rates in the world, which drives demand for internal and external
        fixation devices. In particular, Argentina and Colombia have introduced
        mandatory accident insurance that covers traffic accident-related
        medical costs, which will drive market growth in those countries.
        However, road safety campaigns dedicated to preventing road traffic
        accidents have launched in a number of countries, which may lower the
        number of traffic accidents somewhat.

Comments from Decision Resources Group Analyst Yulia Privolnev:

    --  "The competitive landscape is dominated by large international companies
        like DePuy Synthes, Zimmer and Stryker. These competitors frequently
        rely on distributors to navigate the Latin American markets for various
        reasons, including local knowledge and networks. But there are some
        signs that the tides are changing; more companies are choosing to
        operate directly--either by opening local offices or by buying their
    --  "In Argentina and Brazil, government policies are in place to protect
        the domestic industry. These protectionist policies impose strict
        regulations and import quotas, making it more difficult for
        international companies to compete effectively and allowing domestic
        competitors, such as Industrias Medicas San Pedro and Ortosintese, to
        gain some foothold in these countries. However, these markets are still
        dominated by international competitors."

Additional Resources:

    --  Yulia Privolnev has written a Medtech 360 report on this subject
        entitled Latin American Markets for Trauma Devices and Reconstructive
        Joint Implants 2014.

About Decision Resources Group

Decision Resources Group offers best-in-class, high-value information and insights on critical issues within the healthcare industry. Clients rely on this analysis and data to make informed decisions. Find out more at www.DecisionResourcesGroup.com.

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For more information, contact:

Decision Resources Group

Christopher Comfort



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