Biomedical sensors market of Latin America may reach up to USD 650 million by 2018
According to a report published by Research and Markets, the biomedical sensors market of Latin America is expected to reach up to USD 650 million by 2018. It is anticipated to grow at a CAGR of 2.04% over 2014-2020. The factors driving the increased demand for the sensors include health problems due to harmful environmental conditions, better life expectancy of people suffering from chronic diseases such as diabetes and cardiac disorders and embedded monitoring of patients. Nano and micro technology-based sensors can play an important role in early detection of health irregularities contributing to better health standards. Biomedical sensors face major challenges such as effect of strong electromagnetic effects on patients’ safety and comfort, conveying external energy to internal body parts with high efficiency, limited computation and data storage. Mexico is the leading market among all Latin American markets of biomedical sensors. Brazil follows Mexico with a little margin, which is expected to be covered during the forecast period and thus Brazil will topple Mexico from top position in near future.