Key View: Argentina's medical devices market will record double-digit growth in local currency terms over the 2021-2026 period. However, the market will register a contraction in US dollar terms due to the increasingly depreciatory trend of the Argentine peso. 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. Market fundamentals which will remain strong include large population with a sizeable elderly group, the incidence of chronic diseases and a well-developed healthcare system.
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