A growing length of diabetic and asthma patients is one of the crucial market driving factors to flourish market at a significant rate. Healthcare experts generally use hypodermic needles but sometimes a few diabetic patients use them to take insulin
Latin America Hypodermic Syringes and Needles Market Size is likely to value at US$ 207.25million in 2023 and is anticipated to be worth US$360.78 million in 2033, securing a CAGR of 5.9% during the forecast period 2023 to 2033.
Increasing incidences of chronic disorder, government initiatives, increasing application of infusion and injection therapies, and the growing demand for injectable vaccines and drugs are some key factors estimated to drive the Latin America Hypodermic Syringes and Needles market.
One of the significant factors bringing lucrative opportunities for market growth is the emerging cases of type one diabetics, which increase the demand for Hypodermic Syringes and Needles.
An increase in surgeries is one of the top factors bolstering the Latin America Hypodermic Syringes and Needles market. According to Worldbank Data, 13,940 surgeries were performed in 2015 in Brazil.
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Needles usually work through two mechanisms namely safety and non-safety needles. Needles are employed to inject drugs into the body and take fluids from the body for examination.
Huge efforts by the World Health Organization and the United Nations greatly contribute toward increasing consciousness about safe drug delivery practices and decreasing the transmission of diseases is a significant factor projected to impel the growth of the industry.
These organizations have also commenced many initiatives for secure drug delivery. These organizations conducted a few effective programs such as needle & syringe programs; targeted information; education & communication for injecting drug users and their sexual partners; and education & communication for injecting drug users and sexual partners.
Notable Takeaways from Latin America Hypodermic Syringes and Needles Market
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Competitive Analysis
Key Development:
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.
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.
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.
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.
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Market Segmentation
Needles:
Syringes:
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Jul 07, 2023