The latin america hypodermic syringes and needles market is on a promising growth trajectory, with market valuation projected to rise from USD 207.25 million in 2023 to USD 360.78 million by 2033, reflecting a robust CAGR of 5.9% over the forecast period.
This growth is driven by several key factors:
- Rising Incidences of Chronic Disorders: The prevalence of chronic diseases such as diabetes, cardiovascular conditions, and cancer is increasing across Latin America, fueling the demand for hypodermic syringes and needles for effective treatment and medication delivery.
- Government Initiatives: Supportive health policies and campaigns to promote vaccination and preventive healthcare are bolstering the adoption of these medical devices.
- Expanding Applications in Infusion and Injection Therapies: Innovations in medical treatments requiring precise drug delivery through syringes and needles are driving market expansion.
- Growing Demand for Injectable Vaccines and Drugs: The heightened need for vaccines, including those targeting infectious diseases and emerging health threats, underscores the critical role of syringes and needles in public health strategies.
Market Outlook:
As healthcare infrastructure continues to advance across Latin America, the hypodermic syringes and needles market is set to capitalize on emerging opportunities. The increasing focus on patient safety and the demand for disposable syringes to minimize infection risks are additional growth accelerators.
Industry stakeholders, including manufacturers and distributors, are encouraged to leverage these favorable market dynamics and invest in research, innovation, and partnerships to stay competitive in this burgeoning sector.
Notable Takeaways from Latin America Hypodermic Syringes and Needles Market:
- In 2022, the syringes segment accounted for the high market share by dominating the market owing to high prices as compared to needles and the rising adoption rate.
- Brazil captured a notable market share in 2022 compared to other countries because of the increasing patient pool in the country, and well accessibility of healthcare facilities than the other countries
- Venezuela is predicted to record maximum growth in the market owing to the increase in outbreaks of diseases, over the projection period.
- The combination segment is the second-leading, in terms of share, in the year 2022 owing to the growing adoption of products to direct insulin.
Accelerated Market Demand: Find Comprehensive Insights and Trends in Our Full Report!
Competitive Analysis:
- The competitive landscape Latin America hypodermic syringes and needles industry is marked by several leading players. Notable companies in the market are adopting expansion tactics such as partnerships, mergers, and acquisitions, and launching new products to obtain a competitive edge over other players
Key Development:
- Becton, Dickinson, and Company:
A global medical technology company that develops, manufactures, and sells a range of medical devices and diagnostic products, including hypodermic syringes and needles. The company’s products are widely used in healthcare facilities across Latin America.
- Covidien Ltd.
A subsidiary of Medtronic, Covidien is a leading provider of healthcare products and services, including hypodermic syringes and needles. The company offers a range of products, including conventional and safety-engineered syringes and needles.
- Terumo Corporation:
A global medical device company that develops and manufactures a range of products, including hypodermic syringes and needles. The company’s products are used in a variety of medical settings, including hospitals, clinics, and home healthcare.
- Nipro Corporation:
A Japanese company that develops, manufactures, and sells a range of medical devices and equipment, including hypodermic syringes and needles. The company has a significant presence in Latin America and offers a range of products, including conventional and safety-engineered devices.
A few of the leading players operating in the Latin America hypodermic syringes and needles market are given below:
- Braun Medical, Inc.
- Cardinal Health
- Smiths Medical
- Nipro Corporation
- Terumo Corporation
- EXELINT International, Co.
- Vitrex Medical A/S
- Lifelong Meditech Private Limited
- Retractable Technologies
Market Segmentation:
Needles:
- 16-18G
- 19-21G
- 22-25G
- 26-29G
- 30-32G
Syringes:
- 1 to 5 ml
- 6 to 10 ml
- 11 to 15 ml
- 16 to 20 ml
- 21 to 25 ml
- 26 to 30 ml
- 31 to 35 ml
- 36 to 40 ml
- 41 to 45 ml
- 46 to 50 ml
By Region:
- Latin America
- Mexico
- Argentina
- Brazil
- Chile
- Ecuador
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube