Latin America Electroceuticals Market

Latin America registers the significant growth of the electroceutical market during the forecast period especially in the countries including Brazil, Mexico among others, attributing to various driving factors. The growing prevalence of ischemic heart disease, age-related and other hearing loss, and epilepsy is creating demand for electroceuticals, thereby, anticipated to drive the growth of electroceuticals market in Latin America. As per the Institute for Health Metrics and Evaluation, in 2017, around 0.4 million fatalities occurred in Latin America due to ischemic heart disease. According to WHO, hearing loss is highest in Sub-Saharan, Latin America, and Caribbean region. The values for the prevalence of age-related and other hearing loss in 2012 was 84.6 million people, which increased up to 96.4 million in 2017.

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Brazil is the largest healthcare market in Latin America and spends 9.7% of its GDP on healthcare. Brazil is anticipated to drive strong growth among the other countries of Latin America, owing to the increasing government initiatives to enhance the healthcare facilities. The government of Brazil has decentralized the health care sector in every Brazilian state and given them the autonomy to attract foreign investments in the country. Growing prevalence of spinal cord injuries, age-related and other hearing losses, and ischemic heart disease is anticipated to create demand for electroceuticals in Brazil.

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Whereas, Mexico has made considerable advancement in healthcare systems in the Latin American region and provides quality healthcare to the citizens at marginally higher prices. CVD, CHD, stroke, heart failure, atrial fibrillation, and other heart diseases are the leading causes of fatalities in Mexico. According to the WHO, high blood pressure, hypertension, obesity, CVD, CHD, and stroke are more prevalent in Mexico; and, depression, excessive consumption of alcohol, excessive smoking, hypertension, diabetes, obesity, and poor diet are the major factors for heart diseases, which are prevalent in Mexico.

Market Segmentation

Latin America Electroceuticals Market by Product and its Application

· Cardioverter Defibrillators and Cardiac Pacemaker

· Arrhythmias

· Parkinson’s Disease

· Depression

· Spinal Cord Stimulators

· Failed Back Syndrome

· Ischemia

· Vagus Nerve Stimulators

· Epilepsy

· Cochlear Implants

· Sensorineural Hearing Loss

· Others (Sacral Nerve Stimulators, Transcutaneous Electrical Nerve Stimulators)

· Urinary Incontinence

· Treatment-Resistant Depression

Latin America Electroceuticals Market by End-Users

· Hospitals and Clinics

· Research Institutes

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