Latin America’s minimal invasive surgery market witnesses significant transformation
The minimal invasive surgery market is rapidly growing and is a widely accepted medical technology, which offers benefits such as minimal threat of infection, shorter length of scars and reduced hospital stay over conventional surgery. Thanks to these advantages, the Latin American minimally invasive surgery (MIS) equipments market is witnessing significant transformation in the recent years and is expected to gain rapid acceptance among physicians in the future. The factors contributing to the growth of the global MIS industry include innovation, expanding population base of aging people and rising demand for reduction in healthcare disbursement. Similarly, the rapidly expanding population base and demand for cost-effective products are some others reasons due to which the MIS industry is witnessing lucrative growth in the Latin American region. Among several segments of MIS technique, ablation devices reported the largest share, in terms of revenue in 2013 owing to their large-scale use for treatment of various types of cancer. The market for cosmetic surgeries and orthopedic surgeries is expected to register highest and second highest growth rate respectively over 2014-2020 in the region. Geographically, Brazil and Mexico capture almost half of the total market in Latin America.