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MARKET OUTLOOK

Triton Market Research, in its report, suggests that the medical lighting technologies market in Latin America is estimated to advance at a CAGR of 4.18% through the evaluated period 2021-2028. Brazil, Mexico, and Rest of Latin America together form the market in this region.

Medical tourism has gained significant traction in Argentina. This is mainly owing to low costs, highly skilled medical professionals, post-op care, and well-maintained medical facilities. Moreover, several tourists enter the country to seek treatments relating to joint replacement, facelift, liposuction, and other surgeries. Additionally, the government announced plans to develop its healthcare infrastructure. Therefore, this growth in medical tourism is likely to develop the healthcare sector, increasing the demand for medical lighting products. Hence, all these factors play a crucial role in boosting the medical lighting technologies market on a positive path. 

Furthermore, numerous companies are striving to develop healthcare facilities across Brazilian cities. Moreover, the country is anticipated to witness growth in its GDP, which will enhance the healthcare sector in the country. Other than this, the surge in the geriatric population has surged the need for advanced medical facilities to treat various conditions. Such developments are estimated to upscale the demand for medical lighting solutions across multiple verticals in the healthcare sector, thereby supplementing the growth of the medical lighting technologies market within Brazil. 

COMPETITIVE OUTLOOK

The leading companies in the medical lighting technologies market include Eaton Corporation Plc, Daray Medical, Integra Lifesciences Holdings Corporation, GE Healthcare, Cree Inc, A-Dec Inc, Brandon Medical Co Ltd, and Stryker Corporation.