Argentina Cardiovascular Devices Market to be Dominated by the Diagnostic and Monitoring Segment through 2028
The increasing incidences of health diseases
due to sedentary lifestyles are expected to drive the growth of Argentina cardiovascular
devices market in the forecast period, 2024-2028.
According to
TechSci Research report, “Argentina Cardiovascular Devices Market - By
Region, Competition, Forecast and Opportunities, 2028”, the Argentina cardiovascular
devices market is anticipated to grow at an impressive rate in the forecast
period, 2024-2028. This can be ascribed to the rising demand for
cardiovascular devices with medical benefits, such as the new wearable
technology for people facing blood pressure related issues across the region.
Additionally, rapid advances in science and technology, increasing healthcare
expenditure, changes in lifestyle patterns, burgeoning aging population, and rising
interest in attaining wellness for all will escalate the growth of Argentina cardiovascular
devices market in coming years. Besides, emergence of new devices, such as
pacemakers, implantable cardioverter defibrillators, and cardiac monitors is
expected to support the Argentina cardiovascular devices market growth.
However, the regulation of dietary supplements in Argentina can be
complex and there is time-consuming registration process involving multiple
regulatory bodies, including the National Administration of Drugs and Food and
Medical Technology (ANMAT). It can take several months or even years to
complete which can slow down the growth of Argentina cardiovascular devices
market in the forecast period. Similarly, there are a lot of price limitations
on medical goods, especially cardiovascular devices, in Argentina, which may
reduce the potential profitability of businesses operating in this industry. This
may hamper the Argentina cardiovascular devices market growth during the
forecast period. Also, companies operating in the Argentina cardiovascular
device market may face cultural and language barriers, which can impact their
ability to effectively market and sell their devices in the country. This can
further restrict the growth of Argentina cardiovascular devices market.
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The Argentina cardiovascular
devices market can be segmented by type, application, end user, source, and
region.
Based on type, the
Argentina cardiovascular devices market can be segmented into diagnostic &
monitoring devices and surgical devices. The diagnostics & monitoring
devices segment dominated the market in 2022 and is expected to continue
maintaining its dominance throughout the forecast period. Diagnostic and
monitoring devices include electrocardiography (ECG) machines, blood pressure
monitors, and cardiac event monitors. These are used to diagnose and monitor
cardiovascular diseases. These devices are typically less invasive and less expensive,
making them more accessible to a broader range of patients across the region.
Based on application,
the market can be segmented into coronary artery disease, cardiac arrhythmia,
heart failure, and others. The coronary artery disease segment is expected to
dominate during the forecast period on account of high prevalence of coronary
artery disease in Argentina and the increasing adoption of minimally invasive
procedures for its treatment, which require the use of cardiovascular devices
such as stents and catheters.
Major companies
operating in Argentina cardiovascular devices market are:
- Boston Scientific
Corporation
- Medtronic, Inc.
- Abbott
Laboratories
- Biotronik SE
& Co. KG
- Edwards
Lifesciences Corporation
- Terumo
Corporation
- Microport
Scientific Corporation
- Cardinal Health,
Inc.
- Cook Medical
LLC/Argentina
In 2018, Abbott
Laboratories acquired St. Jude Medical, Inc., which develops and manufactures
cardiovascular devices, such as pacemakers, defibrillators, and heart valves.
The acquisition expanded Abbott's portfolio of cardiovascular devices and
strengthened its position in the global medical device market.
In 2017, Edwards
Lifesciences acquired Valtech Cardio Ltd., a company that develops and
manufactures devices for the treatment of heart valve diseases. The acquisition
expanded Edwards Lifesciences' portfolio of cardiovascular devices and
strengthened its position in the global medical device market.
In 2019, Boston
Scientific acquired the privately held company BTG plc, which develops and
manufactures minimally invasive therapies for cancer and other diseases. The
acquisition expanded Boston Scientific's portfolio of minimally invasive
technologies and strengthened its position in the global medical device market.
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“Argentina cardiovascular
devices market is expected to dominate during the forecast period due to the
rising demand for diagnosis devices with medical benefits along with growing
preference for wearable technology across the region. Furthermore, trend of wearable
technology is growing, particularly among individuals with ischemic heart
disease medical conditions, where generic treatment is reliant on lifestyle
changes, medications, and cardiac rehabilitation which will further contribute
to demand for Argentina cardiovascular devices market during the forecast
period. Besides, increasing concerns about healthy lifestyles and increasing
expenditure on health and wellness is further expected to create lucrative
opportunities for the market growth” said Mr. Karan Chechi, Research Director
with TechSci Research, a research based global management consulting firm.
“Argentina
Cardiovascular Devices Market, By Type (Diagnostic & Monitoring Devices, Surgical Devices),
By Application (Coronary Artery Disease, Cardiac Arrhythmia, Heart Failure, and
Others), By End User (Hospitals & Clinics, Diagnostic Centers, and Others),
By Source (Domestic, Import), By Region, Competition, Forecast and Opportunities, 2028”, has evaluated the future growth potential of Argentina cardiovascular
devices market and provides statistics & information on market size,
structure, and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Argentina cardiovascular
devices market.
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