Market Trends of South America Remote Patient Monitoring Systems Industry
This section covers the major market trends shaping the South America Remote Patient Monitoring System Market according to our research experts:
Heart Monitors Segment is Expected to Hold a Significant Market Share Over the Forecast Period
A cardiac monitor, also known as a heart monitor, is a device that allows for the continuous monitoring of the heart's activity through electrocardiography. Heart monitors are used more frequently these days as only electrocardiogram is not able to detect the irregularities in the heart rhythm because they are hooked up to the machine for only a short time. Moreover, a heart monitor may be able to detect irregularities in the heart rhythm that an electrocardiogram can't detect. The rising advantages of heart monitors and the rising prevalence of cardiac monitors coupled with the rising geriatric population are expected to boost segment growth during the forecast period of the study.
The rising prevalence of cardiovascular diseases is the major factor driving the segment's growth. For instance, according to an article published by PubMed Central in October 2022, Argentina has a very high burden of cardiovascular diseases (CVDs), and the prevalence of CVD is increasing. The prevalence of hypertension and dyslipidemia associated with cardiovascular diseases is reported to be one of the highest in Argentina across Latin America. The article further stated that healthcare provision in Argentina had been impacted by the increased healthcare expenditure burden in the country due to the exponential growth and aging of the population.
Furthermore, according to an article published by the European Heart Journal in March 2022, a study was conducted in Brazil, Argentina, Colombia, and Peru, which showed that the incidence of cardiovascular diseases (CVDs) per 1000 people was 3.86 in Brazil and 3.07 in Argentina, and men had a higher incidence of CVDs when compared to women. The article also stated that for CVD the largest population-attributable fractions were due to hypertension (18.7%), abdominal obesity (15.4%), tobacco use (13.5%), low strength (5.6%), and diabetes (5.3%). Thus, the high prevalence of cardiovascular diseases in the region, coupled with the rising geriatric population, is expected to boost segment growth.
Therefore, the aforementioned factors, such as the increasing prevalence of cardiovascular diseases and the growing geriatric population, are expected to boost segment growth.
Brazil is Expected to Hold a Significant Market Share Over the Forecast Period
Brazil is expected to hold a significant market share in the remote patient monitoring systems market due to the rising burden of diseases such as cancer, diabetes, and cardiovascular diseases coupled with the rising geriatric population.
The rising prevalence of cancer in the country is a major factor in the rising adoption of remote patient monitoring systems. For instance, according to an article published by PubMed Central in November 2022, breast cancer has been a major public health problem, and it was estimated that in the 2021-2022 period, there would be about 66 thousand new cases in the country.
Moreover, the rising prevalence of cardiovascular diseases in the country is also expected to boost the market growth in the country. For instance, according to an article published by PLOS One in December 2022, Brazil has a high burden of cardiovascular diseases. The article also stated that Brazilians were going through gradual changes in eating patterns, which included excessive consumption of nutrients linked to the causes of non-communicable diseases (NCD), such as sodium, sugars, and fats. An increase in the consumption of ultra-processed foods (UPF) by the Brazilian population has been observed, which is often associated with cardiovascular diseases. Thus, the burden of cardiovascular diseases in the country, alongside the increased consumption of ultra-processed foods, is expected to boost market growth.
Therefore, the aforementioned factors, such as the increasing prevalence of chronic diseases such as cancer, cardiovascular diseases, and diabetes and the growing geriatric population, are expected to boost the market growth in Brazil.
