Enter telemedicine, a growing technology that closes the gap between facilities for the patients who need the care the most. In a nutshell, telemedicine allows doctors, often specialists such as cardiologists, oncologists and the like, to examine patients in other facilities remotely. This might involve hospitals in big cities like Mexico City or Buenos Aires partnering with smaller towns around the country. Or hospitals in the U.S. and Europe can also take part in order to help these smaller communities.

It’s a novel, cutting-edge idea that’s not only a great partnership for medical facilities, but also a vital tool for the health and well-being of patients.

Many healthcare providers and institutions have caught on to this. As a result, the Latin American telemedicine market’s value is projected to grow with a CAGR of 17.2% between now and 2020 to reach US$2.5 billion—more than double its 2015 value of US$1.13 billion.

The growth of telemedicine is not altogether surprising given that many other high-tech sectors of LatAm healthcare are also expanding, including devices and electronic medical records (EMR).

Taking Advantage of the Telemedicine Boom in LatAm

For manufacturers that provide telemedicine equipment and devices, it’s easy to determine what areas might be interested in your goods and services. Global Health Intelligence provides a rich database of hospitals and other medical centers throughout Latin America that either presently use telemedicine or have the need for telemedicine equipment.

And this opportunity is not simply a good one for manufacturers of the equipment. If hospitals in the U.S. or other parts of the world are interested in partnering with a Latin American facility, for example, the GHI database can help with this, as well. Many facilities have telemedicine equipment but are lacking in good partnerships, so this is a great opportunity for North American or European hospitals to get involved.

Finally, once a facility has telemedicine, they may be interested in other high-tech equipment such as PACs (picture archiving and communication systems), PET scanners and other devices to provide their patients with the best care possible. This is yet another sales opportunity for equipment manufacturers.

Explore More

Contact GHI today for a free demo of HospiScope, our Latin American hospitals database, which covers nearly 90% of the region.

A quick tour will let you see how to take advantage of the telemedicine trend to identify a wide array of new prospects among institutions that are likely to need high-tech equipment.

While interest is high in health care-related products across the board, some are certainly stronger performers than others. Here’s what the latest projections show to be the most in-demand health products in Latin America.

Capnography Equipment

Capnography devices are used to monitor breathing during medical procedures in hospitals and medical centers. And as Latin American facilities strive to modernize, this type of equipment is in major demand. Currently, sales of the devices in Latin America are around $10 million annually, but this is projected to grow to over $30 million by 2021.

Insulin Delivery Devices

There’s no question that diabetes is a problem in Latin America, and many facilities are struggling to keep up with the demand for insulin delivery equipment. The result is a rapidly evolving market, with sales projected to grow to almost $1.2 billion in 2020 from just $760 million in 2015.

Ultrasound

Ultrasound is another critical imaging device that many Latin American markets have major need for. And this one could be a major boon for sales representative with ultrasound equipment to offer. This market is projected to grow to an astounding $804 billion by 2021.

MRI Machines

Like ultrasound, magnetic resonance imaging (MRI), is another cutting edge diagnostic tool that is seeing big gains in the Latin American market. By 2021, the MRI market should reach $1.3 billion according to recent projections.

Radiopharmaceuticals

Radiopharmaceuticals, also known as nuclear medicine, represents a category of cutting-edge treatments for cancer, heart disease and other illnesses that offer advantages when traditional methods of treatment fail. And there is certainly strong demand for the advancements in the Latin American market. Radiopharmaceutical growth is projected to almost double in the next 5 years to over $1 billion by 2020.

Sales Opportunities

If you’re interested in seeing how to strategize your Latin American sales opportunities, get in touch with Global Health Intelligence. Their comprehensive LatAm hospitals database provides specifically targeted data to help you find precise needs and market directly to the hospitals first.