Market Trends of Argentina Endoscopy Devices Industry
Endoscopes Segment is Expected to Hold Significant Market Share Over The Forecast Period
- Endoscopes are used in most surgical endoscopic applications and enable endoscopists to visualize the surface of organs, their vessels, or pathological changes without large incisions of the body and deliver a view even more clearly than with the naked eye. The growing preference for minimally invasive surgeries is a significant factor that is leading to the growth of the segment during the forecast period.
- The major factor attributing to the segment growth is the increasing number of surgeries for cancer in the nation. For instance, according to the Breast Centres Network update in May 2022, Breast-Clinica de la Mama, a breast-specialized medical center in Argentina, performs an average of more than 500 surgeries annually. Thus, the high number of breast cancer surgeries in the country increases the demand for endoscopes to visualize the area, thereby boosting market growth carefully.
- In addition, using endoscopes to visualize the brain and spine through minimally invasive approaches further propels the market growth. For instance, as stated by the Alzheimer's Association, during the year 2021, Alzheimer's was one of the leading causes of death in Argentina, affecting more than 300 thousand people in 2021. The high prevalence of neurological disorders, like Alzheimer's disease, is expected to boost the demand for surgical procedures and lead to market growth.
- Therefore, owing to factors such as the high burden of cancer leading to high surgeries wherein endoscopes are widely used as well as the high burden of neurological diseases such as Alzheimer's disease, the segment is expected to register significant growth during the forecast period.
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Cardiology Segment is Expected to Hold a Significant Market Share Over The Forecast Period
- Cardiology endoscopes are used to diagnose and treat various heart diseases. The endoscopy is performed similarly to the procedure of cardiac catheterization. Cardiology has developed and expanded at a greater rate than any other acute major medical specialty over the past few years.
- According to an article published in the International Journal of Stroke in April 2021, it has been observed that the adjusted prevalence of stroke was higher in men (26.3%) as compared to women (13.2%) in Argentina.
- In addition, as per the same source, the prevalence of ischemic stroke, intracranial hemorrhage, and transient ischemic attack were 15.8%, 2.93%, and 2.93%, respectively. Also, obstructive sleep apnea, hypertension, and dyslipidemia were the most common vascular risk factors among stroke survivors. Thus, the high prevalence of stroke among the population, especially in men, increases the risk of heart failure. This fuels the demand for heart surgery, boosting the demand for endoscopic devices and technologically advanced endoscopes during surgical procedures. This is expected to increase the growth of the segment in the country over the forecast period.
- Furthermore, people with diabetes are at risk of developing heart disease or stroke, which is expected to propel the market growth for early diagnoses. For instance, as per the data from the International Diabetes Federation, there were around 1.8 million people in Argentina having diabetes as of February 2022. The prevalence of diabetes in the country was 6.1% in 2022. With the rising burden of diabetes in the country, it is believed that there will be a growing demand for endoscopy devices. Hence, the rising burden of diabetes is expected to increase cardiovascular complications, which is further expected to contribute largely to market growth.
