South & Central America Medical Cables Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis
No. of Pages: 133 | Report Code: BMIRE00031889 | Category: Life Sciences
No. of Pages: 133 | Report Code: BMIRE00031889 | Category: Life Sciences
The South & Central America medical cables market size is expected to reach US$ 993.74 million by 2031 from US$ 674.70 million in 2023. The market is estimated to record a CAGR of 5.0% from 2023 to 2031.
The medical cable market in South and Central America is experiencing steady growth, driven by advancements in healthcare infrastructure and increasing demand for medical devices. As the region sees improvements in healthcare services, the adoption of medical equipment requiring specialized cables, such as diagnostic machines, imaging devices, and patient monitoring systems, is rising. Key drivers of market growth include the expansion of healthcare facilities, rising incidences of chronic diseases, and a growing focus on medical technology innovations. Countries like Brazil, Mexico, and Argentina are leading the way in terms of market demand, owing to their large population and healthcare investments. Additionally, the increasing preference for minimally invasive surgeries and advanced diagnostic equipment is fostering the growth of high-quality medical cables, which are critical for device connectivity, durability, and safety. The market faces challenges related to regulatory compliance, but continued investment and demand suggest a positive outlook for the sector.
Key segments that contributed to the derivation of the medical cables market analysis are type, application, and end user.
As healthcare becomes more patient-centric and accessible, patients are highly opting for home healthcare solutions. This has increased the adoption of home healthcare devices such as wearable health devices, remote monitoring systems, and others, which depend on high-quality medical cables for smooth functioning. The surging prevalence of chronic disorders, such as diabetes, cardiovascular disorders, and respiratory disorders, is generating the demand for home healthcare solutions. As per WHO, chronic disorders account for ~70% of global deaths every year and have led to a greater push toward managing such conditions at home. For instance, diabetes patients use continuous glucose monitoring systems that need specialized cables for sending real-time data from sensors to devices for insulin-level monitoring and adjusting. This surge in at-home monitoring devices creates a particular need for medical cables for the transmission of data reliably and uninterruptedly.
Wearable health devices, such as smartwatches, ECG monitors, and blood pressure cuffs, are contributing to the surging demand for medical cables. These devices allow continuous monitoring of vital signs, helping in early disease diagnosis. These wearable devices rely on strong and ultra-reliable cables to provide stable power and data connectivity to allow patients and healthcare professionals direct access to the most accurate real-time health information. Therefore, the increasing demand for home healthcare solutions is fueling demand for remote monitoring solutions and driving the growth of the medical cables market.
Based on country, the South & Central America medical cables market comprises Brazil, Argentina, and the Rest of South & Central America. Brazil held the largest share in 2023.
Chronic diseases are prevalent among the geriatric population in Brazil. According to the Pan American Health Organization, Brazil had more than 30 million older adults aged 60 and above as of 2022, indicative of 13% of the country’s population. By 2030, the number of people from this age group will reach nearly 50 million, which will be 24% of its total population. The World Health Organization (WHO) and the Brazilian Institute of Geography and Statistics reported that the geriatric population in Brazil (aged ≥ 60 years) is expected to reach ~55 million by 2040. Brazil’s aging population increases the need for medical diagnostics and treatments, particularly for conditions such as cardiovascular diseases and diabetes, boosting the demand for medical cables used in diagnostic equipment.
There is an increasing prevalence of chronic diseases, such as cancer and diabetes, in the country. Diabetes is one of the most prominent chronic diseases, and the number of people with diabetes has more than doubled over the past three decades. For instance, The International Diabetes Federation (IDF) Diabetes Atlas 2021 estimated that 15.7 million people aged 20–79 had diabetes in Brazil. The number is expected to reach 23.2 million by 2045. The growing prevalence of chronic diseases such as diabetes has spurred demand for medical equipment, including imaging systems and patient monitoring devices, all of which rely heavily on medical cables. Medical cables play a crucial role in managing diabetes patients. They connect continuous glucose monitors that provide real-time glucose readings, enabling better blood sugar management. Cables are also essential for insulin pumps, delivering precise doses of insulin based on the patient's needs.
The rise of the private healthcare sector and healthcare services supports a strong demand for advanced medical technologies and cables. Together, these factors create a promising environment for the medical cables market in Brazil.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 674.70 Million |
| Market Size by 2031 | US$ 993.74 Million |
| Global CAGR (2023 - 2031) | 5.0% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | South and Central America
|
| Market leaders and key company profiles |
Some of the key players operating in the market include TE Connectivity Ltd; Shenzhen Yong Qiang Fu Industry Co., Ltd; Spacelabs Healthcare; Ametek Inc; ATL Technology; Amphenol Alden Products; Molex LLC; and New V-Key Technology Co., Ltd among others. These players are adopting various strategies such as expansion, product innovation, and mergers and acquisitions to provide innovative products to their consumers and increase their market share.
The following methodology has been followed for the collection and analysis of data presented in this report:
The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:
Note: All financial data included in the Company Profiles section has been standardized to USD. For companies reporting in other currencies, figures have been converted to USD using the relevant exchange rates for the corresponding year.
Business Market Insights’ conducts a significant number of primary interviews each year with industry stakeholders and experts to validate its data analysis, and gain valuable insights. These research interviews are designed to:
Primary research is conducted via email interactions and telephone interviews, encompassing various markets, categories, segments, and sub-segments across different regions. Participants typically include:
The South & Central America Medical Cables Market is valued at US$ 674.70 Million in 2023, it is projected to reach US$ 993.74 Million by 2031.
As per our report South & Central America Medical Cables Market, the market size is valued at US$ 674.70 Million in 2023, projecting it to reach US$ 993.74 Million by 2031. This translates to a CAGR of approximately 5.0% during the forecast period.
The South & Central America Medical Cables Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South & Central America Medical Cables Market report:
The South & Central America Medical Cables Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South & Central America Medical Cables Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South & Central America Medical Cables Market value chain can benefit from the information contained in a comprehensive market report.
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