At 2.2% CAGR, South & Central America Pectus Bar Market is Projected to be Worth US$ 2,332.64 Thousand by 2031, says Business Market Insights

According to Business Market Insights' research, the South & Central America pectus bar market was valued at US$ 1,954.32 thousand in 2023 and is expected to reach US$ 2,332.64 thousand by 2031, registering a CAGR of 2.2% from 2023 to 2031. Use of multiple pectus bars to support chest and growing preference for minimally invasive procedures are among the critical factors attributed to drive the South & Central America pectus bar market growth.

Generally, single-bar insertion applies a dynamic force on the vicinity of the bar, only correcting the deformity around it and not at distal regions. Therefore, the use of additional bars should be considered to exert force on multiple sites of the thorax, allowing the coverage of multiple rib levels. With pectus bar displacement being one of the most common post-surgical complications, several ongoing studies suggest the use of multiple pectus bars to ensure proper placement of the bar for a longer duration. Currently, three known surgical techniques are used in the multiple bar insertion approach: the parallel bar insertion technique, the XI bar insertion technique, and the crossbar insertion technique. According to the study "The effectiveness of double-bar correction for pectus excavatum: A comparison between the parallel bar and cross bar techniques," published by NLM in September 2020, parallel bars and cross bars are both used on a certain number of patients to check the effectiveness of these techniques. As per the study, both parallel bar and crossbar insertion techniques were more effective than single pectus bar; however, the crossbar technique is superior to the parallel bar technique for correcting complex and wide range of chest wall deformities. Moreover, various ongoing studies reveal that the multiple bar techniques can easily avoid complications associated with the use of a single bar. As per one such study "Modification of the Nuss procedure: the crossed bar technique for new subtypes of pectus excavatum," published by Springer in March 2023, about 99% of patients reported satisfaction with the crossbar technique after six months post-surgery. Thus, the increasing inclination toward the use of multiple pectus bars instead of a single bar for the treatment can act as a trend for fueling the growth of the South & Central America pectus bar market in the upcoming years.

On the contrary, post surgical complications hamper the growth of South & Central America pectus bar market.

Based on type, the South & Central America pectus bar market is bifurcated into titanium and stainless steel. The titanium segment held 61.8% market share in 2023, amassing US$ 1,207.46 thousand. It is projected to garner US$ 1,463.60 thousand by 2031 to register 2.4% CAGR during 2023-2031.

By end user, the South & Central America pectus bar market is segmented into hospitals, specialty clinics, and others. The hospitals segment held 62.1% share of South & Central America pectus bar market in 2023, amassing US$ 1,213.53 thousand. It is anticipated to garner US$ 1,462.98 thousand by 2031 to expand at 2.4% CAGR during 2023-2031.

By country, the South & Central America pectus bar market is segmented into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 56.6% share of South & Central America pectus bar market in 2023. It was assessed at US$ 1105.47 thousand in 2023 and is likely to hit US$ 1,335.37 thousand by 2031, registering a CAGR of 2.4% during 2023-2031.

Key players operating in the South & Central America pectus bar market are KLS Martin Group, IDEAR SRL, Biotech GmbH, Zimmer Biomet Holdings Inc, and Ventura Medical Technologies, among others.

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