Report : South and Central America Healthcare Satellite Connectivity Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component (Medical Device, System and Software, and Services); Application (eHealth, and Others); Connectivity (Mobile Satellite Services, and Fixed Satellite Services); End Users (Clinical Research Organization, Hospitals and Clinics, Research and Diagnostic Laboratories, and Others)
System and Software Segment has the Largest Share of Component in the South and Central America Healthcare Satellite Connectivity Market during 2021–2028
According to a new market research study on “South and Central America Healthcare Satellite Connectivity Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Component, Application, Connectivity, and End User” is expected to reach US$ 401.2 million by 2028 from US$ 280.0 million in 2021. The market is estimated to grow at a CAGR of 5.3% from 2021 to 2028. The report provides trends prevailing in the South and Central America Healthcare satellite connectivity market along with the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as the government initiatives for promotion and development of satellite connectivity-based solutions in healthcare and rising adoption of eHealth are the key factors driving the market growth. However, the market is expected experiencing slow growth during the forecast period owing to the concerns regarding data privacy.
South and Central America have been witnessing a growing number of COVID-19 cases since its outbreak. The COVID-19 pandemic presented numerous impacts on health systems, social life, and human behavior worldwide. It remains a challenge for local communities. In Brazil, an increase in the Healthcare Satellite Connectivity Market was observed despite efforts to keep the treatment routine as normal as possible. South and Central America are facing significantly challenging situations due to COVID 19 pandemic. The number of growing COVID-19 cases has been reported. Governments in the region have announced massive relief packages to fight against coronavirus pandemic. The pandemic has positively impacted the growth of the telemedicine market. However, the crisis, demand for glucose monitoring, coagulation monitoring, urinalysis, cardiometabolic monitoring, cancer markers, haematology has been affected. However, governments are taking measures to help the ill person in some emergencies, as in-person doctor’s appointments are now being conducted over a phone call or video consultations. Thus, the factor mentioned above is likely to hamper the significant growth of the telemedicine market.
The market for healthcare satellite connectivity market is segmented into component, application, connectivity, and end user. Based on component, in 2021, system and software segment are estimated to account for the largest market share in the South and Central America healthcare satellite connectivity market. The growth of this segment is attributed to the growing demand for data analytics in healthcare and the rapid implementation of technology in medical services. Furthermore, lack of proper infrastructure in rural areas, and growing demand for real-time distance learning, telemedicine, and video services of higher quality are some of the other factors contributing to the growing adoption of satellite technology in healthcare.
Inmarsat Global Limited, Hughes Network Systems, SES S.A., Globalstar, EUTELSAT COMMUNICATIONS SA, AT&T Intellectual Property, X2nSat, and DISH Network L.L.C. are among the leading companies in the South and Central America healthcare satellite connectivity market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in July 2021, Globalstar, Inc. announced a partnership with FocusPoint International Inc. to provide crisis assistance services under the Global Overwatch & Rescue Plan to Globalstar customers worworldwide.
The market for healthcare satellite connectivity market is segmented into component, application, connectivity, and end user. Based on component, the healthcare satellite connectivity market is segmented into medical device, system and software, and services. Based on application, the healthcare satellite connectivity market is segmented into ehealth, and others. Based on connectivity, the healthcare satellite connectivity market is segmented into mobile satellite services, and fixed satellite services. Based on end user, the healthcare satellite connectivity market is segmented into clinical research organization, hospitals and clinics, research and diagnostic laboratories, and others. Geographically, the healthcare satellite connectivity market is segmented into South and Central America (Brazil, Argentina, Rest of South and Central America).
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