TORONTO, Nov. 12, 2013 /PRNewswire/ -- According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, the Latin American peripheral vascular (PV) device market will grow strongly through 2022. The rapidly expanding economies in the Latin American countries, mirrored by investment in health care, and coupled with increasing disease prevalence, are boosting both the accessibility of health care as well as the patient pool in the region. These factors will spur market growth at about eight percent annually through 2022.
The drug-coated balloon (DCB) market represents an area of fast growth within the PV space. These products have gained popularity because they offer advantages over stenting or PV bypass, particularly in the lower extremities. They are also seen as a cost-saving measure; DCBs are less likely to require bail-out stenting of the vessel compared to standard balloons, and this results in overall lower procedure costs for facilities. DCB uptake will be particularly favorable in Argentina, where physicians are keen adopters of new technology, and in Colombia, where the lower cost of these products relative to other countries will spur faster acceptance. Penetration of these products will be slower in Brazil, where their cost is much closer to a stent and significantly higher than a standard balloon. In Mexico, DCB use will be hindered by the fact that many procedures are paid for out-of-pocket, and in those cases, patients will tend to opt for the lowest-cost procedures.
"The Latin American PV device market will be limited by strong competition from low-cost local manufacturers," said MRG Analyst Roald Dho
SOURCE Millennium Research Group
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