Latin America Hypodermic Syringes & Needles Market is estimated to depict a positive trajectory during 2023-2032, owing to the increasing number of surgeries taking place in the Latin American economies. As per reports, there were more than 4 million hospitalizations for surgical procedures in the Brazilian PHS in 2020.
Constantly rising geriatric population has been witnessing a growing demand for surgical procedures to improve the quality of life. Besides, technological innovations have favored the evolution of surgical procedures that incorporate safe, sterile, and less invasive needles in treating related ailments.
Overall, the Latin America Hypodermic Syringes & Needles industry is segmented in terms of type, usability, application, end-use and region.
Based on type, the syringes segment will demonstrate growth during 2023-2032 owing to the increasing awareness regarding administering medications using syringes. Besides, the key players operating in the healthcare business space are gaining huge traction owing to several safety guidelines imposed by various LATAM governments regarding the use of sterile single-use syringes.
By usability, the reusable segment will gain huge prominence over the next decade owing to the multiple advantages offered by reusable hypodermic syringes and needles such as affordability, high quality, tensile strength, and a cleaner environmental footprint. In addition, product benefits such as environment-friendly supplies and less waste creation will spur the segment growth by 2032.
In terms of application, the blood collection segment will exhibit over 3.5% CAGR through 2032. Significant improvement in blood donations & platelet transfusion campaigns in the Latin America region will positively influence the segmental outlook.
Considering the end-use, the diagnostic centers segment will be valued at over USD 94 billion by 2032. Increasing incidences of respiratory disorders, blood-related diseases, diabetes, and hypertension will spur the demand for such centers over the coming years. The increased blood & specimen collection volume due to rising cases of chronic illnesses is further set to benefit these facilities in the coming years.
Country-wise, the Mexico hypodermic syringes & needles market will record substantial growth during the forecast spell. Factors such as increasing modern technologies, rising healthcare expenditures, and a rapidly ageing population will influence the regional revenue share. Besides, the increasing number of healthcare facilities, diagnostic therapy, and chronic diseases will boost the country growth.