How Is Adoption of Advanced Products Strengthening Fracture Management Market in LATAM?

The Latin American (LATAM) fracture management market will progress at a CAGR of 5.1% during the forecast period (2020–2030), on account of the surging prevalence of osteoporosis, burgeoning aging population, increasing incidence of road crashes, and soaring number of knee and hip replacement surgeries, in the region. Additionally, the mounting healthcare expenditure and escalating awareness about fracture management products will also aid the market size to grow from $592.0 million in 2019 to $1,002.9 million by 2030.

Receive Sample Pages of this Report: https://www.psmarketresearch.com/market-analysis/latin-america-fracture-management-market-forecast/report-sample

Another growth driver for the LATAM fracture management market is the booming elderly population in the region. For instance, the World Bank estimates that nearly 11%, 10%, 12%, 9%, 8%, 8%, and 9% population of Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, and Peru, respectively, were aged 65 years and above in 2020. A high risk of fractures is highly visible among the elderly because aging reduces bone mineral density, thereby making them extremely vulnerable.

Make an Enquiry Before Purchase: https://www.psmarketresearch.com/send-enquiry?enquiry-url=latin-america-fracture-management-market-forecast

The material segment of the LATAM fracture management industry is classified into bioabsorbable, synthetic, metallic, and plaster of Paris (POP). Among these, the metallic category accounted for the largest market share in 2019, as surgical steel and stainless metals are the primary materials used in the production of screws, hip plates, plating systems, and other plating system accessories. The usage of metallic materials in fracture management helps in returning lost rigidity and physical strength of the body.

According to P&S Intelligence, Brazil held the largest share in the LATAM fracture management market in 2019. The country market is also expected to demonstrate the fastest growth throughout the forecast period. This can be ascribed to the increasing prevalence of osteoporosis and other orthopedic ailments, escalating healthcare expenditure, soaring cases of sports injuries, and burgeoning geriatric population, in the country. For instance, the Organization for Economic Co-operation and Development (OECD) forecasts that the population of people aged 65 years and over will reach 30,448,865 by 2030 in Brazil.

Thus, the increasing cases of osteoporosis and the soaring geriatric population will drive the demand for fracture management products in LATAM.

About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

Contact:
P&S Intelligence
Toll-free: +1-888-778-7886 (USA/Canada)
International: +1-347-960-6455
Email: enquiry@psmarketresearch.com

This release was published on openPR.