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Latin America Infusion Pump Market | Growing Prevalence of Chronic Diseases to Drive Market Growth

The latin america infusion pump market is expected to be valued at USD 487.3 Million in 2016. This latin america infusion pump market is expected to grow at a CAGR of 6.6% during the forecast period (2016–2021) to reach USD 671.9 Million by 2021.

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.
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On the basis of products, the infusion pumps and accessories market is segmented into infusion pumps (devices) and infusion pump accessories. Infusion pump accessories (comprising dedicated and non-dedicated disposables) accounted for the largest share of the latin america infusion pump market in 2015. This segment is expected to grow at the highest CAGR 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.
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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