Market Trends of South America Respiratory Monitoring Industry
Pulse Oximeter Segment is Expected to Witness High Growth Over the Forecast Period
- A pulse oximeter is a non-invasive medical device that measures an individual's blood oxygen saturation by attaching a sensor to a finger, toe, or earlobe and using spectrophotometry to calculate the percentage of oxygenated hemoglobin pulsating through a network of blood capillaries. The increasing prevalence of respiratory diseases, the growing geriatric population, and the rising need for portable monitoring devices are expected to drive the market for pulse oximeters in the region. According to the World Bank World Population Prospects: 2022 Revision, the population aged 65 and above in Latin America and the Caribbean was 58.84 million in 2021 and 57.21 million in 2020.
- In addition, the need for pulse oximeters increased to monitor hypoxia due to the COVID-19 pandemic and the rise in the prevalence of respiratory diseases. For instance, in January 2021, the Stavros Niarchos Foundation (SNF), as part of its global COVID-19 relief initiative, partnered with Lifebox to provide hundreds of pulse oximeters to healthcare providers working on the frontline during the COVID-19 pandemic in Asia, Africa, and Latin America. Furthermore, pulse oximetry's ease of use and low cost is anticipated to propel the segment's growth over the forecast period.
- Thus, the pulse oximeters segment is anticipated to have considerable demand over the forecast period due to the abovementioned factors.
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Brazil is Expected to Dominate the South America Respiratory Monitoring Market
- Chronic diseases, including chronic obstructive pulmonary disease (COPD) and tuberculosis, are leading diseases in morbidity and mortality in Brazil. Smoking is also contributing to the growth of the respiratory devices market. According to the OECD statistics, the percentage of the population aged 15+ years who smoke daily in Brazil was 9.1% in 2021. Significant tobacco usage as cigarette smoking increases the risk of respiratory diseases like asthma and COPD. As per the World Health Organization (WHO) Global Tuberculosis Report published in October 2022, the incidence of tuberculosis in Brazil was reported to be about 48 per 100,000 people in 2021. Thus, a high prevalence of smoking and an increased incidence of tuberculosis are anticipated to drive the market in Brazil over the forecast period.
- Furthermore, a high incidence of acute respiratory diseases is also anticipated to drive the market in the country. For instance, according to a research article published in Frontiers in Microbiology in July 2022, 2,740,272 patients were hospitalized due to severe acute respiratory infection (SARI) in Brazil. Thus, Brazil is anticipated to dominate the South American respiratory monitoring market.
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