Latin America Hypodermic Syringes and Needles Market
The Latin America hypodermic syringes and needles market is projected to achieve a market size of approximately US$ 207.25 million in 2023, with expectations to expand to US$ 360.78 million by 2033. This growth trajectory indicates a robust CAGR of 5.9% from 2023 to 2033, reflecting the increasing demand for these essential medical devices across the region.
The expansion of the hypodermic syringes and needles market can be attributed to several key factors, including the rising healthcare needs driven by population growth, the increasing prevalence of chronic diseases, and the growing emphasis on immunization and preventive healthcare measures. Additionally, advancements in syringe and needle technologies, such as safety-engineered devices, are further propelling market growth by enhancing patient safety and compliance.
As healthcare infrastructure improves and access to medical services expands in Latin America, the demand for hypodermic syringes and needles is expected to rise significantly. This market growth reflects the ongoing efforts to enhance healthcare delivery systems and improve patient outcomes across the region.
Increasing Diabetic Patients is Estimated to Drive the Latin America Hypodermic Syringes and Needles Market
Diabetes is one of the leading causes of death caused due to a chronic non-communicable illness. It presents a main health crisis in several countries of Latin America. If compared with other western countries, there is an uneven surge of diabetes in Latin America. It may be because of the environmental, genetic, and socioeconomic predisposition of the population of this region for different risk factors of type 2 diabetes mellitus including obesity, insulin resistance, and other metabolic disorders.
People suffering from diabetes might increase by 48% and is anticipated to reach 49 billion by 2045 according to the International Diabetes Federation’s 2021 statistics. It indicates that there is an increasing prevalence of diabetes by 25%. As increasing diabetic patients is anticipated to fuel Latin America hypodermic syringes and needles market growth.
Competitive Analysis with Key Market Share Insights
Key players in the market focus on getting a competitive edge in the market with the adoption of effective strategies. These players aim at taking different strategic initiatives including novel product releases, mergers, collaboration, and acquisitions. These initiatives allow key players to reinforce their market position. Along with key players, manufacturers also aim at making investments in expanding their manufacturing capabilities to meet the rising demand for types and obtain a high revenue share in the market.
The key players upsurge the call to another height through marketing strategies. Implementation of advanced technologies and government initiatives upsurges the market expansion further.
Lifelong Meditech Private Limited: The Lifelong group expanded into manufacturing as well as the marketing of medical disposables and devices in 2005. It is specialized in manufacturing Sterile Hypodermic Single Use Syringes and Sterile Hypodermic Single Use Needles.
Cardinal Health: Cardinal Health is specialized in providing safety syringes and needles such as Monoject™ Magellan™ Hypodermic Safety Needles and Monoject™ Magellan™ Insulin and Tuberculin Safety Syringes.
- Monoject™ Magellan™ Hypodermic Safety Needles are made with a strong safety shield covering the complete needle tip and cannula.
- The Monoject™ Magellan™ insulin and tuberculin safety syringes are vital needle-based protection solutions that advance clinician efficiency as well as increase protection.
- BD introduced a next-generation glass Prefillable Syringe (PFS) in September 2022, which provides new as well as strong criteria for processability, contamination, cosmetics, and integrity.
- Nipro Corporation has introduced its new set of hypodermic syringes called hypodermic needle-pro devices, which have an array of clinical applications fueling the demand for hypodermic syringes.
- Terumo Corporation has launched its hypodermic syringes with a needle that has an integrated plunger stop which helps in preventing the plunger from being pulled out.
Key Companies Profiled
- B. Braun Medical, Inc.
- Cardinal Health
- Smiths Medical
- Nipro Corporation
- Terumo Corporation
- EXELINT International, Co.
- Vitrex Medical A/S
- Lifelong Meditech Private Limited
- Retractable Tenologies
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
- Uruguay
- Venezuela
- Colombia
- Bolivia
- Peru
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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.
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