Market Size of South America Patient Monitoring Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 2.34 Billion |
| Market Size (2029) | USD 3.02 Billion |
| CAGR (2024 - 2029) | 5.12 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
South America Patient Monitoring Market Analysis
The South America Patient Monitoring Market size is estimated at USD 2.34 billion in 2024, and is expected to reach USD 3.02 billion by 2029, growing at a CAGR of 5.12% during the forecast period (2024-2029).
The major factors driving the growth of the market include the growing burden of chronic diseases due to lifestyle changes and the rising preference for home and remote monitoring.
According to the Organisation for Economic Co-operation and Development (OECD), in 2017, in Colombia, 176 deaths (per 100,000 population) were caused due to heart attacks and other ischemic heart diseases, in Chile 82 deaths (per 100,000 population), respectively. Therefore with the high burden of these chronic diseases, the patient monitoring technologies come into play and identify small changes in the patient's physiological data, hence promoting self-monitoring. In addition, it also reduces readmissions, and prevents avoidable hospitalizations, decreases the number of unnecessary trips to the doctor's office, and reduces travel-related expenses. Thus, owing to the above-mentioned factors it is expected to show significant growth over the forecast period.
