Report : South & Central America Occupational Health Market Forecast to 2030 - Regional Analysis - by Offering (Product, Solution, and Service), Category (Safety, Chemicals, Biological, Physical & Environmental, Ergonomics, Vaccination & immunizations, and Others), Employee Type (Remote, Hybrid, and Physical Presence), Site Location (On-Site, Off-Site, and Shared-Site), Type (Physical Wellbeing and Social & Mental Wellbeing), and Industry [Automobile, Chemical, Engineering, Government (including Federal), Manufacturing, Mining, Oil & Gas, Pharmaceutical, Ports, and Others]
At 3.9% CAGR, the South & Central America Occupational Health Market is speculated to be worth US$ 244.27 million by 2030, says Business Market Insights
According to Business Market Insights’ research, the South & Central America occupational health market was valued at US$ 180.34 million in 2022 and is expected to reach US$ 244.27 million by 2030, registering a CAGR of 3.9% from 2022 to 2030. Government initiatives to promote occupational health and incorporation of robotics for enhancing occupational health are among the critical factors attributed to the South & Central America occupational health market expansion.
The availability of relatively inexpensive robots capable of performing in a shared environment with human workers has driven a new robotic era. For instance, human workers are equipped with performance-enhancing robotic devices, such as exoskeletons and capacity-enhancing prostheses. Collaborative robots are designed for direct interaction with humans; they can be of three types—industrial, professional, and personal service. Implementing robotics in the workplace would protect workers from exposure to hazardous substances, environments, and physical agents. For example, robotics is deployed for handling radioactive materials and working in high-dust exposure environments, resulting in health and safety benefits, production efficiency, and quality improvements.
Additionally, several remote wireless sensors are now employed for monitoring worksites and facilities. Similarly, risk assessment of new technologies quickly determines workers' safety and health issues. Thus, robotics-led automation of tasks will start a new diverse trend in the South & Central America occupational health market.
On the contrary, health associated risks at the workplace hamper the South & Central America occupational health market.
Based on offerings, the South & Central America occupational health market is segmented into products, solutions, and services. The services segment held 80.7% share of South & Central America occupational health market in 2022, amassing US$ 145.49 million. It is projected to garner US$ 199.64 million by 2030 to expand at 4.0% CAGR during 2022–2030.
Based on category, the South & Central America occupational health market is segmented into safety, chemicals, biological, physical & environment, ergonomic, vaccination & immunizations, and others. The physical & environment segment held 33.3% share of South & Central America occupational health market in 2022, amassing US$ 60.06 million. It is projected to garner US$ 77.86 million by 2030 to expand at 3.3% CAGR during 2022–2030.
Based on employee type, the South & Central America occupational health market is segmented into remote, hybrid, and physical presence. The remote segment held 47.1% share of South & Central America occupational health market in 2022, amassing US$ 84.94 million. It is projected to garner US$ 117.39 million by 2030 to expand at 4.1% CAGR during 2022–2030.
Based on site location, the South & Central America occupational health market is segmented into on-site, off-site, and shared-site. The off-site segment held 48.8% share of South & Central America occupational health market in 2022, amassing US$ 87.96 million. It is projected to garner US$ 124.01 million by 2030 to expand at 4.4% CAGR during 2022–2030.
Based on type, the South & Central America occupational health market is segmented into physical wellbeing and social & mental wellbeing. The physical wellbeing segment held 71.8% share of South & Central America occupational health market in 2022, amassing US$ 129.46 million. It is projected to garner US$ 170.49 million by 2030 to expand at 3.5% CAGR during 2022–2030.
Based on industry, the South & Central America occupational health market is segmented into automobile, chemical, engineering, government (including federal), manufacturing, mining, oil & gas, pharmaceutical, ports, others. The government segment held 39.7% share of South & Central America occupational health market in 2022, amassing US$ 71.67 million. It is projected to garner US$ 96.69 million by 2030 to expand at 3.8% CAGR during 2022–2030.
Based on country, the South & Central America occupational health market has been categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that the Rest of South & Central America captured 38.0% share of South & Central America occupational health market in 2022. It was assessed at US$ 68.58 million in 2022 and is likely to hit US$ 90.55 million by 2030, exhibiting a CAGR of 3.5% during 2022–2030.
Key players operating in the South & Central America occupational health market are Axa SA, Nexo CS, SGS Société Générale de Surveillance SA, and UL Solutions Inc, among others.
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