Why Will Demand For Fracture Management Solutions Soar In Brazil In Future?

By Author: Pramod Kumar
Total Articles: 97
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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.

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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 country’s total gross domestic product (GDP) in 2000.

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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.

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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 P&S 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.

Pramod has around 7 years of experience in market research and consulting services for healthcare industry. He holds varied experience in market sizing and forecasting with varied models, competition landscape, consumer behavior analysis, opportunity analysis, product/company benchmarking, data mining and others. He has successfully delivered multiple projects on go-to-market strategies, pricing strategy, price point analysis, Business Expansion, market entry and exit, share analysis and others. Prior to joining P&S Intelligence, he worked with different research companies, including Transparency Market Research and MarketsandMarkets Pvt Ltd. Some of the projects delivered by him include Scar Treatment Market, Skin Replacement and Substitutes Market, and Energy-Based Aesthetic Devices Market.