Argentina Endoscopy Devices Market Size

Argentina Endoscopy Devices Market Analysis

The Argentina Endoscopy Devices Market is expected to register a CAGR of 6.10% during the forecast period(2024-2029).

• COVID-19 had a profound impact on the endoscopy devices market in its initial phases owing to the cancellations of elective procedures, including gastrointestinal endoscopies. COVID-19 has substantially reduced gastrointestinal, ENT surgical, and other procedure endoscopies, creating a backlog of procedures in the country. 
• However, the market recovered in the last two years since the restrictions were lifted. The high import of medical devices, including endoscopes, was observed in the country during the later phase of the pandemic. For instance, as per the International Trade Administration August 2022 update, the Argentine medical equipment and device market is dominated by imports, which account for around 70-85% of the total market. The same source reported that imports are anticipated to continue recovering throughout 2022. Hence, the market is gradually recovering and is expected to show stable growth during the forecast period owing to the resumption of endoscopy procedures.
• In addition, the increasing adoption of endoscopy for treatment and diagnosis, growing preference for minimally invasive surgeries, and technological advancements leading to enhanced applications are actively affecting the growth of the studied market.
• Gastric cancer is one of the major causes of healthcare burden in Argentina. According to the data published by the Globocan 2020 report, about 4,003 new stomach cancer cases were reported in the country in 2020. The same report projected that the cases of stomach cancer are expected to reach 4,404 by 2025. With the rising prevalence of gastric cancer in the country, the demand for gastroendoscopes is increasing to effectively diagnose and treat the condition. This is likely to fuel the market growth over the forecast period.
• According to the United Nations Population Fund's World Population Dashboard 2021's data in Argentina, a large proportion of the population was aged between 15-64 years and accounted for 64.2%, and 11.5% of the population of the country was 65 years and above age. Endoscopy allows both operations on more fragile patients, notably the elderly, and the treatment of more complex diseases, such as cancer. Other benefits of endoscopy include reduced post-operative pain and risks of complications, rapid healing, lighter anesthesia, and a shorter period of hospital stay. Since the elderly population has an increased risk of chronic diseases, the demand for endoscopy procedures is expected to increase in the forecast period.
• Furthermore, as per the article published by the National Institute of Health in 2022, the prevalence of chronic obstructive pulmonary disease (COPD) in the general population older than 35 years in Argentina was 8.9% in 2021. The prevalence in men was 13.7% and in women 6.7%. The prevalence in smokers and ex-smokers was 24.3%. The data suggest that the burden of COPD across the country is on the rise. Hence, with the rising COPD disease, it is believed that there will be a growing endoscopy procedure, which in turn is expected to boost the demand for endoscopy devices in the market.
• Therefore, owing to the aforementioned factors, such as the high prevalence of chronic diseases in the country and the advantages of endoscopy devices. The studied market is anticipated to witness growth over the analysis period. However, the lack of skilled technicians and infections caused by few endoscopes are expected to restrain the market growth.