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.
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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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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.
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.
