The Latin America Safety Syringes Market is estimated at USD 554 million in 2016 and is predicted to reach USD 890 million by 2021, Growing at a CAGR of 9.93%. Injection practices worldwide and especially in low- and middle-income countries (LMICs) include multiple, avoidable unsafe practices that ultimately lead to large scale transmission of blood-borne viruses among patients, health-care providers and the community at large. Safety syringes are specifically designed to protect healthcare workers and others from accidental needle-stick injuries, which will subsequently protect the hospital professions from healthcare-acquired infections.
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Of late, governments in the Latin America region have issued legislation to ensure compulsory use of safety syringes to reduce needle stick injuries and also prevent needle re-use. With the introduction of these legislations there has been an increased use of safety syringes than conventional syringes in recent times. Further, increase in the frequency of needle stick injuries, growing injectables market and rising demand for safety mechanisms in syringes are thrusting the growth of Latin America safety syringe market. However, availability of alternate drug delivery methods and high cost of safety syringes are few factors limiting the growth of Latin America market. In emerging countries, the safety syringes are being ignored due to lack of awareness about healthcare and safety issues.
The Latin America safety syringes market can be categorized on the basis of technology into Retractable and Non-Retractable safety syringes. The retractable syringes market is sub-segmented into Automatic or Manual syringes. And the non-retractable safety syringes are sub-segmented into sliding needle cover syringes, sheathing tube syringes, and hinged needle cover syringes. Non-retractable safety syringes hold the major share of sales in the Asia-Pacific regions while the retractable safety syringes segment is anticipated to rise at a higher CAGR within the forecast period. Furthermore, on the basis of therapy, the safety syringes market can be categorized under Insulin, Tuberculosis, Glucagon-like peptide-1 (GLP-1) and Growth Hormones. Moreover, taking into account end users, the Latin America safety syringe market is branded under hospitals and home care segments.
Geographically, the Latin America safety syringe market is segmented and analysed various regions namely Brazil, Argentina and Mexico. The Latin American countries are expected to show significant growth rate owing to the changing economic policies and growing importance for healthcare. Brazil, being one of the world’s top 10 largest economy is set to offer an incredible market for safety syringes which is followed by Argentina.
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Some of the major companies operating in the Latin America safety syringes market are Retractable Technologies, Inc, Becton, Dickinson & Company, Terumo Corporation, Unilife Corporation, Covidien plc, Revolutions Medical Corporation, Smiths Medical, Axel Bio Corporation, Sol-Millennum and Ultimed, Inc.
Some Points From Table Of Content :
Market Segmentation :
Retractable safety syringes
Automatic retractable safety syringes
Manual retractable safety syringes
Non-Retractable safety syringes
Sheathing tube syringes
Sliding needle cover syringes
Hinged needle cover syringes
Glucagon-like peptide-1 (glp-1)
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