At 4.1% CAGR, South & Central America Pediatric Masks Market is Projected to be Worth US$ 46.14 Million by 2031, says Business Market Insights

According to Business Market Insights research, the South & Central America pediatric masks market was valued at US$ 33.42 million in 2023 and is expected to reach US$ 46.14 million by 2031, registering a CAGR of 4.1% from 2023 to 2031. Increasing research and development activities and growing investments in healthcare and growing demand for single-use pediatric masks are among the critical factors attributed to drive the South & Central America pediatric masks market growth.

Research and development of medical devices are considered to be highly capital-intensive and carry huge risks. R&D is a crucial step, after which the best ideas are transformed into the finest products by prototyping, validation, and testing. MedTech companies are highly investing in R&D to produce innovative products. For instance, in 2023, ResMed invested US$ 307.52 million in research and development activities, representing 6.6% of its net revenues. With a continued focus on developing and commercializing new, innovative products and solutions, the company strives to improve patient outcomes, assist physicians and providers in managing chronic diseases, and reduce healthcare costs. Therefore, increasing R&D investments for the development of new products and surging government funds to enhance pediatric healthcare are expected to contribute to the growth of the pediatric market in the coming years.

On the contrary, lack of reimbursement policies in emerging economies hamper the growth of South & Central America pediatric masks market.

By product type, the South & Central America pediatric masks market is segmented into oxygen mask, nasal cannula, sleep apnea mask, and others. The oxygen mask held 52.9% share of South & Central America pediatric masks market share in 2023, amassing US$ 17.68 million. It is projected to garner US$ 24.95 million by 2031 to register 4.4% CAGR during 2023–2031.

In terms of modality, the South & Central America pediatric masks market is bifurcated into disposable and reusable. The disposable held 86.8% share of South & Central America pediatric masks market share in 2023, amassing US$ 29.02 million. It is projected to garner US$ 40.63 million by 2031 to register 4.3% CAGR during 2023–2031.

By end users, the South & Central America pediatric masks market is segmented into hospital, specialty clinics, ambulatory surgical centers, diagnostic centers, and others. The hospital segment held 46.7% share of South & Central America pediatric masks market share in 2023, amassing US$ 15.61 million. It is projected to garner US$ 22.02 million by 2031 to register 4.4% CAGR during 2023–2031.

Based on country, the South & Central America pediatric masks market is categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 52.1% share of South & Central America pediatric masks market in 2023. It was assessed at US$ 17.40 million in 2023 and is likely to hit US$ 24.95 million by 2031, registering a CAGR of 4.6% during 2023–2031.

Key players operating in the pediatric masks market are Ambu AS, Armstrong Medical Ltd, Besmed Health Business Corp, BLS Systems Limited, Circadiance, Dragerwerk AG & Co KGaA, Dynarex Corp, Fisher & Paykel Healthcare Corp Ltd, Flexicare (Group) Limited, Intersurgical Ltd, Koninklijke Philips NV, ResMed Inc, Sleepnet Corporation, and SunMed Group Holdings LLC (AirLife), among others.

• In May 2023, SunMed acquired Vyaire Medical’s (“Vyaire”) business unit that manufactures and markets respiratory and anesthesia consumables. Through the combination, SunMed is creating a leading manufacturer wholly dedicated to airway management and operative care with a more comprehensive offering for practitioners, serving as a one-stop source for the highest-quality consumable respiratory and anesthesia medical products that support the best outcomes for patients.

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