South and Central America Hypodermic Needles Market

Market Introduction

The safety needles market is anticipated to grow in the forecast period owing to driving factors such as high prevalence of blood-borne disease, active government participation to implement stringent regulations, increase in demand for injectable drugs & vaccines and untapped potential in the emerging economies. Nevertheless, high cost of safety needles and alternative drug delivery options are expected to hamper the market growth during the forecast period.

Moreover, the surge in demand for vaccines is expected to bolster the market growth during the forecast period.

Brazil's syringe manufacturers supplied 30 million syringes and needles for the country's COVID-19 vaccination program after the government said it would requisition surplus supplies. Executives of the three main manufacturers met with President Jair Bolsonaro at the Health Ministry, and it was agreed that each would supply 10 million syringes to cover the initial stages of the vaccination plan. In March 2020, the Argentinian authorities temporarily suspended the definitive duty imposed on imports of hypodermic syringes originating in China. The suspension was introduced following the COVID-19 pandemic. In July 2020, Argentina's government agreed to purchase 20 million doses of COVID-19 vaccinations from Pfizer Inc (PFE.N), a US pharmaceutical company, to be delivered this year, according to Health Minister Carla Vizzotti. The deal comes after Argentina changed the rules governing the acquisition of COVID-19 vaccinations earlier the month to allow access to doses produced by US businesses. Under earlier laws, many companies were hesitant to sign with the South American country. Thus, the market is positively impacted due to COVID-19.

Market Overview and Dynamics

The South & Central America hypodermic needles market is expected to reach US$ 331.8 million by 2028 from US$ 234.0 million in 2021. The market is estimated to grow at a CAGR of 5.1% from 2021–2028. Diabetes is another life-threatening chronic disease with no functional cure. Diabetes of all types can lead to various complications in different parts of the body and increase the overall risk of premature death. Heart attack, stroke, kidney failure, leg amputation, vision loss, and nerve damage are the major complications associated with diabetes. In diabetic patients, the exogenous insulin is usually administered through a subcutaneous route of administration for diabetes management. The wide acceptance of hypodermic needles for insulin delivery, enabling self-administration and accurate dosing, is driving the hypodermic needles market significantly. Also, most biotherapeutics are injected using a hypodermic needle injection as they provide a low-cost, rapid, and direct way to deliver almost any type of molecule into the body. Hence, the adoption of the hypodermic needle is increasing, leading to high South & Central America market growth.

Key Market Segments

In terms of type, the safety needles segment accounted for the largest share of the South & Central America hypodermic needles market in 2020. In terms of application, the drug delivery segment accounted for the largest share of the South & Central America hypodermic needles market in 2020. In terms of end user, the hospital segment accounted for the largest share of the South & Central America hypodermic needles market in 2020. Further, based on usage, the disposable segment held the largest market share in 2020.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the hypodermic needles market in South & Central America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Terumo Corporation, BD, B. Braun Melsungen AG, Catalent Inc., Cardinal Health Inc., RETRACTABLE TECHNOLOGIES, INC., Vygon, and Barber of Sheffield.

Reasons to Buy Report

• To understand the South & Central America hypodermic needles market landscape and identify market segments that are likely to guarantee a strong return
• To comprehend the ever-changing market landscape and stay ahead in competition
• To efficiently plan merger and acquisition, and partnership deals in the South & Central America hypodermic needles market by identifying segments with the most promising probable sales
• To make knowledgeable business decisions from perceptive and comprehensive analysis of the market performance of various segments
• To obtain market revenue forecast of the South & Central America hypodermic needles market based on various segments for the period 2021–2028

SOUTH & CENTRAL AMERICA HYPODERMIC NEEDLES MARKET SEGMENTATION

By Type

• Safety Needles
  • Retractable Needles
  • Non-retractable Needles

• Non-safety Needles

By Application

• Drug Delivery
• Vaccination
• Blood Specimen Collection

By End User

• Hospitals and Clinics
• Diagnostic Centers
• Home Health Care

By Usage

• Disposable
• Reusable

By Country

• South & Central America

• • • • Brazil
      • Argentina
      • Rest of South & Central America

Companies Mentioned

1. Terumo Corporation
2. BD
3. B. Braun Melsungen AG
4. Catalent Inc
5. Cardinal Health Inc
6. Vygon
7. Barber of Sheffield
8. RETRACTABLE TECHNOLOGIES, INC.

South and Central America Hypodermic Needles Strategic Insights

Strategic insights for the South and Central America Hypodermic Needles provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

South and Central America Hypodermic Needles Report Scope

South and Central America Hypodermic Needles Regional Insights

The geographic scope of the South and Central America Hypodermic Needles refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.