Nanomedicine, which at this point in its development focuses primarily on biosensors, is by far the highest valued segment in the medical technology market in Latin America, growing strongly with an annual revenue forecasted to double by 2024. Respiratory monitoring devices, active implantable medical devices, and diabetes care devices follow nanomedicine at only a fraction of its market value, though all three segments have likewise been forecasted for consistent growth. The outbreak of COVID-19, however, is likely to have a major impact on the industry, with the sudden and exceedingly high demand for respiratory devices around the globe.
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