Latin America’s Healthtech Transformation is on the Way

Image Credits: Holon IQ

Announcement

With the new era of digitalization, the proliferation of smartphones and AI has significantly impacted our health, leading to transformations in the healthcare sector. The unification of advanced technologies like big data, AI, and telemedicine is empowering healthcare to expand to the massive population who are in need of emergency advanced treatments and provide access, innovation, and efficiency on time. In this changing healthtech era, Latin America is poised to be the backbone of the healthcare sector. The recent healthtech developments seem to be an interesting factor. There are many examples proving Latin America’s healthcare innovation strategy and involving many regions in the investment and funding initiative.

Latin America’s Healthcare Market’s Growth and Improvement

The estimated rise of the Latin American digital health market in last year 2024 was 37.6% with the value by the end of the year being US$35 billion. Alongside the growth of AI in the startups of Latin America between 2022 and 2024 is around 6%. The overall percentage of treatment, prevention, and diagnosis-based healthcare startups is 52% and the startups in Mexico or Brazil are 78%. With this growth, Latin America is accelerating in innovation and healthtech. Many innovations are lined up from the end of Mexico and Brazil. For instance, Colombia, Argentina, and Chile have contributed 6%, 6% and 8% respectively.

Successful Endeavor

The Unima, based out of Mexico, is a healthtech startup focused on delivering low-cost and quick medical diagnostic services to rural areas of Mexico, with seamless access to labs.  Further, the plan is to expand its medical reach. This startup has managed to reach more 6than 500,000 patients to date. The Brazilian company Mevo has introduced a digital prescription platform. In 2024, the company gained US$20 million in venture funding that helped Mevo to develop and enable its services to an end number of Brazilians. The Pura Mente and 1DOC3 companies have also contributed largely to the healthtech market. 1DOC3 has already explored this robust telemedicine platform.

The TRAINFES' successful take on the electrostimulation therapy for rehabilitation for various neurological disorders is commendable. In the clinic, TRAINFES enables patients to attend remote therapy sessions, eliminating the need to travel to a rehabilitation center. This has helped around 10,000 patients to date. Other challenges in Latin America’s healthtech market stand as a chance to improve and discover new developments in the market with full potential.