Latin American infusion pumps market to reach USD 671.9 Million by 2021

According to a market research report published by Markets and Markets, the Latin American infusion pumps and accessories market is expected to generate revenue worth USD 487.3 Million in 2016, and the market is expected to reach USD 671.9 million in 2021. The key aspects driving the growth of the market include increasing number of cases of chronic diseases owing to the rapidly growing elderly population, rising use of infusion products at homeand technological advancements in infusion pumps. However, economic stagnancy, strict regulations for product approval and medication errors associated with infusion pumps as well as product recalls may slow down the growth of the market. Brazil accounted for the largest share of the Latin American infusion pumps and accessories market in 2015, followed by Mexico and Argentina.Argentina, Colombia, and Chile are likelyto offer significant growth opportunities for market players owing to the large patient population, increasing chances of chronic diseases with changing lifestyles, increasing accessibility to advanced products, improving healthcare facilities and increasing disposable income of the middle-class population.