Brazil led infusion pumps & accessories market in Latin America in 2015
The Latin American infusion pumps and accessories market is projected to reach USD 671.9 million by 2021, at a CAGR of 6.6% during the forecast period 2016-2021. Several key factors such as increasing prevalence of chronic diseases owing to the rising geriatric population, increasing prevalence of chronic diseases, increasing demand for ambulatory infusion pumps and technological improvements in infusion pumps are driving the growth of the market. Brazil had held the largest share of the Latin American infusion pumps and accessories market, followed by Mexico and Argentina in 2015. Countries like Brazil and Mexico are likely to grow at lower CAGRs as compared to the Colombian market, which is predicted to grow at the highest CAGR during the forecast period 2016-2021. Rapidly aging population, increasing prevalence of chronic diseases, increasing healthcare expenditure and increasing disposable income of the middle-class population are the major driving factors for the growth of the Colombian market.
(Image Courtesy: Hospira)