Industry Forecast: Medical Devices Forecast

摘要

Key View: Near-term economic weakness poses downside risks to our forecast CAGR in local currency terms. We project that the medical device market will register a 2021-2026 CAGR of 31.2% and -2.0% in US dollar terms, which will take the value to ARS205.0bn (USD502. Imn) by 2026. The market was supported in 2022 when Argentina's economy slightly improved, but in 2023 the economy is set to drop from 1.7% to 1.5% real GDP growth. This is due to elevated inflation, tightening fiscal and monetary policy, and recent shocks to confidence will cause growth to slow sharply over the coming months.