Latin America Healthcare IT Market

Latin America Healthcare IT Market Size and Growth Rate:

The Latin American market for healthcare IT was valued at USD 12,950 million in 2018 and It is expected to reach USD 38,776.3 million by 2025, growing at a CAGR of 17.50% during the forecast period 2018 – 2025

According to Research Cosmos Global Healthcare IT Market expected to reach 477,771.9 Million USD by 2025, growing with a CAGR of 16.81%.

Chronic diseases requiring healthcare innovations are on the increase in the Latin American region, along with a booming medical tourism industry that’s growing at nearly 19% per year. A moving demographic change in Latin America will rapidly increase the elderly population to 130 million by 2055, which will result in the growth of regional healthcare IT market.

Growth Drivers, Challenges, and Opportunities:

The healthcare division from a consumer’s perspective is observing boundless transformation owing to several reasons. An important rise in fitness and health programs, sensors in treatment-based processes and integration of smart devices, and provision of professional healthcare services that involve use of modern devices are some of the key reasons that have been originally driving the healthcare IT market in recent times in this region.

High demand for mobile healthcare devices is also responsible for the healthcare IT market to indent to notable pace. A quick rise in prominence of big data analytics in digital healthcare is expected to fuel this market in the future too. The rising predominance of chronic diseases such as cardiovascular ailments, diabetes, kidney disorders, and blood pressure has caused a surge in demand for highly reliable and accurate diagnosis and treatment measures. Of an overall perspective, the healthcare IT market is undergoing large-scale growth due to the prevalence of the above-mentioned diseases.

But large costs required to set up procurement of IT technologies for healthcare purposes, as well as carrying out expensive research and development activities for the same is greatly hampering the market. Some requirement for qualified professionals in backward and remote areas needed to manufacture devices for monitoring and diagnosis of health is another significant factor hindering the Latin American healthcare IT market. Many service providers firms are gradually introducing cost-effective technologies for utilization in various medical sectors. Therefore, a sale of such affordable things will overtake the market restraints.

Geographical Insights of Latin America Healthcare IT Market

Regionally, the market is held by Latin America by owing to the quick adoption of the advanced technologies and launch of various products in favor to the medical sector. IT sector is a boom for the healthcare centers as it made many changes in delivering effective results for the patients and also made the tasks simple and convenient for physicians. In Latin America, increasing construction of the hospitals with new equipment is boosting up the demand of this market. Rise in the investments on the IT solutions by the government is propelling the demand of the market. In addition, the market is fueled by rising in the awareness towards the cloud-based platforms and growing utilization of big data. The demand to lower the costs for the treatment procedures with the latest applications is also to accelerate the growth of the market in this region. Changes in the policies and launch of reimbursement schemes by the government in favor of the public are to escalate the demand of the market to the extent. Furthermore, the increasing concern towards patient safety and rising efficiency of the services with new updates in the software is greatly influencing the growth of the market in the coming years.

Prominent Companies Dominating the Market analyzed in this report are:

• Omron Healthcare Inc.
• Phillips Healthcare
• Medtronic Inc., F.
• Hoffmann-La Roche Ltd
• Praxair Technologies Inc.
• Teleflex Corporation
• Bayer Healthcare
• ResMed Inc.
• GE Healthcare
• Cardinal Health
• Gentiva Health Services Inc.
• Invacare Corporation
• Johnson & Johnson
• Abbott Laboratories

This research report includes following segmentation for the Latin America Healthcare IT Market size and forecast 2018 -2025

Latin America Healthcare IT Market - By Application

• Telemarketing
• Telehealth

Latin America Healthcare IT Market – By Region

• Brazil
• Argentina
• Mexico 

Browse Other Regional Reports:

North America Healthcare IT Market

Europe Healthcare IT Market

Asia Pacific Healthcare IT Market

Middle East and Africa Healthcare IT Market