Latin America Hypodermic Syringes and Needles Market

An Overview of Latin America Hypodermic Syringes and Needles Market

Latin America hypodermic syringes and needles market size is likely to reach US$ 207.25 million in 2023 and is projected to be worth US$ 360.78 million by 2033. The market is likely to expand at a CAGR of 5.9% from 2023 to 2033.

Factors that Drive the Latin America Hypodermic Syringes and Needles Market

• Novel advancements and increasing funds for healthcare enable people to opt for medical procedures.
• 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 shots.
• Food allergies from seafood and milk along with nasal allergies are a few common allergies in the population. The increasing prevalence of these allergies is estimated to grow the market considerably.
• Increase in the volume of surgeries, the growing demand for syringes in mass vaccination, and the surge in chronic disorders.
• Hypodermic syringes are favored as compared to after-filled syringes as they provide fixed dosages of the drug and ease in usability.
• The global hypodermic syringes market is anticipated to fuel under the backdrop of the global pharmaceutical industry during the projection period.
• Medication errors and reduced dosing are also among the key factors increasing the demand for hypodermic syringes.
• The conventional syringes were developed with the use of glass barrels and glass rods which were relatively costly as compared to plastic-based hypodermic syringes increasing the global sales of hypodermic syringes.
• Increasing trend of people getting vaccinated outside hospitals such as in pharmacies, airport booths, schools as well as community centers.
• During the pandemic, COVID-19 patients needed to opt for blood sampling.

Latin America Hypodermic Syringes and Needles Market Historical Analysis (2018 to 2022) Vs. Forecast Outlook (2023 to 2033)

Latin America hypodermic syringes and needles market yielded US$ 196.07 million in 2022 and is expected to reach US$ 360.78 million in 2033. The syringes segment was the leading segment in the year 2022 because of the growing adoption rate and high cost compared to needles.

Government initiatives and dosing errors linked with syringes have increased the sales of hypodermic syringes in healthcare markets. Aggressive price ranges and new schemes work as key aspects to accelerate industry growth. For instance, countries in Latin America were hardest hit during the pandemic, therefore the region collaborated with ECLAC (Economic Commission for Latin America and the Caribbean) to prepare a ‘Plan for Self-sufficiency’. Through this initiative, the government aims to strengthen its science and technology capabilities.

An increase in the efforts by government organizations such as the United Nations and the WHO to create awareness about safe drug delivery practices and reduce the spread of diseases is predicted to lead to the growth of the industry. Several initiatives are taken by these organizations for safe drug delivery.

Rising competition enhancing businesses to adapt as well as explore according to the recent trends and dynamics is also projected to flourish the hypodermic syringes market.

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.

Sabyasachi Ghosh

Principal Consultant

Talk to Analyst

Find your sweet spots for generating winning opportunities in this market.

Talk to Analyst

Category-wise Insights

Based on type, the syringes segment recorded a high revenue share in 2022 by dominating the market due to the rising adoption of syringes in different procedures and increasing surgery numbers. Moreover, soaring chronic diseases like diabetes are bolstering the growth of the hypodermic syringes and needles market.

Increase the release of novel products by the leading players to fulfill the rising demand, strengthen their position and expand the product portfolio. However, the needles segment is projected to witness maximum growth capturing a high CAGR rate during the forthcoming years. An increase in the use of needles for delivering vaccines and drugs to patients and collecting blood samples is predicted to push sales of needles.

Country-wise Insights

Brazil recorded a high revenue share in 2022. The country witnessed high growth due to the factors such as the increase in hospitals and the rising prevalence of different diseases including Zika virus, TB, malaria, and typhoid. The expansion in patients getting hospitalized is projected to propel the demand for hypodermic needles and syringes. In order to get further treatment for these diseases, pathogenic testing, as well as blood sampling is required.

The continuous prevalence of diseases that can be managed through only vaccination is estimated to fuel Venezuela's market growth during the forecast period. For example, more than 7,300 measles cases have been recorded since June 2017 in the country, counting nearly 64 deaths and 5,500 confirmed cases in September 2018 according to the Pan American Health Organization. This outburst has spread in this region’s all other countries, recording more than 10,000 alleged cases of measles in Brazil. It calls for the increasing demand for hypodermic syringes and needles in the region for vaccination during the estimation period.

Surging cases of influenza and COVID-19 again in the region have considerably increased the demand for hypodermic syringes and needles.

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.

A few of the leading players operating in the Latin America hypodermic syringes and needles market are given below

• B. Braun Medical, Inc.
• Cardinal Health
• Smiths Medical
• Nipro Corporation
• Terumo Corporation
• EXELINT International, Co.
• Vitrex Medical A/S
• Lifelong Meditech Private Limited
• Retractable Technologies

Report Scope

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