Latin America Fracture Management Market Research Report 2030

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LATAM Fracture Management Industry Analysis and
Future Scope
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The LATAM fracture management industry revenue
stood at 592.0 million in 2019, and it is set to
rise to 1,002.9 million by 2030, exhibiting a
CAGR of 5.1 during the forecast period
(20202030). With the growing prevalence of
osteoporosis, the demand for fracture management
services is rising sharply in Latin America.
Osteoporosis is basically a bone disease which
causes the loss of bone density. It massively
augments the risk of fractures and is responsible
for the high occurrence rate of fractures in the
Latin American countries. According to the
International Osteoporosis Foundation (IOF), as
many as 655,648 hip fractures would be reported
in the region by 2050. Besides the
aforementioned factor, the surging population of
geriatric people is also pushing up the
requirement for fracture management services in
the Latin American region. Older people are
highly vulnerable to various fractures, on
account of the lower mineral density of their
bones than younger persons. Moreover, the
occurrence rate of fractures is very high among
post-menopausal women. This when combined with
the already existing issues of vision and
unsteady balance propels the prevalence of
fractures.
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Another major factor fueling the requirement for
fracture management services is the soaring
healthcare expenditure in the various Latin
American countries. The surging healthcare
spending is propelling the adoption of
patient-friendly and technologically innovative
and advanced products in various healthcare
settings such as clinics and hospitals. As per
the findings of the World Bank, in Brazil, the
total healthcare spending of Brazil was as much
as 8.3 of the countrys total gross domestic
product (GDP) in 2000. Furthermore, this share
grew to 9.5 in 2017. Other countries such as
Argentina, Colombia, and Mexico also saw a
significant rise in healthcare spending over the
last few years. Due to these factors, the
requirement for fracture management services and
solutions is growing rapidly in the Latin
American region. This is driving the progress of
the Latin American (LATAM) fracture management
market. The market valuation is predicted to grow
from 592.0 million in 2019 to 1,002.9 million
by 2030. Download sample pages of this report
https//www.psmarketresearch.com/market-analysis/l
atin-america-fracture-management-market-forecast/r
eport-sample Furthermore, the market will
progress at a CAGR of 5.1 between 2020 and 2030.
Depending on type, the LATAM fracture management
market is divided into internal and external
categories. Of these, the internal category will
exhibit faster growth in the market in the
future, because of the growing prevalence of road
injuries and severe bone fractures in the region.
Additionally, the high costs of internal fracture
management materials such as screws and plates,
are fueling the advancement of the category.
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The LATAM fracture management market recorded the
highest growth in Brazil during the past few
years and this trend will continue in the
forthcoming years, as per the estimates of PS
Intelligence, a market research firm based in
India. The factors propelling the progress of the
market in this region are the presence of a
rapidly improving healthcare and medical
infrastructure, the high cost-effectiveness of
knee and hip replacement surgeries, and the
increasing incidence of accident and
sports-related injuries. Hence, it can be said
with full surety that the demand for fracture
management services will soar in Latin America in
the future years, mainly because of the rising
incidence of fractures and osteoporosis and the
surging healthcare expenditure in the region.
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