Report : South and Central America Hypodermic Needles Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Safety Needles, and Non-safety Needles), Application (Drug Delivery, Vaccination, and Blood Specimen Collection), End-Users (Diagnostic Centers, Hospitals and Clinics, and Home Health Care), and Usage (Disposable, and Reusable)

Safety Needles Segment has the Largest Share of Type in the South & Central America Hypodermic Needles Market during 2021–2028

According to our latest study on “South & Central America Hypodermic Needles Market Forecast to 2028 – COVID-19 Impact and Analysis – by Type, Application, End User, and Usage,” the market is projected to reach US$ 331.8 million by 2028 from US$ 234.0 million in 2021; it is expected to grow at a CAGR of 5.1% from 2021 to 2028. The report highlights trends prevailing in the market, and the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as the increasing prevalence of chronic diseases, and surge in demand for vaccines. However, availability of alternatives is hampering the growth of the market to a certain extent.

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 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.

Based on type, the South & Central America hypodermic needles market is bifurcated into safety needles and non-safety needles. In 2021, the safety needles segment is estimated to account for the largest market share of the type segment in the South & Central America hypodermic needles market. The growth of these segments is attributed to increasing prevalence of chronic disease, increasing needle stick injuries, and increasing regulation to reduce disease transmission through syringes.

Terumo Corporation, BD, B. Braun Melsungen AG, Catalent Inc., Cardinal Health Inc., RETRACTABLE TECHNOLOGIES, INC., Vygon, and Barber of Sheffield are among the leading companies in the South & Central America hypodermic needles market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.

The market for hypodermic needles market is segmented into type, application, end user, and usage. Based on type, the South & Central America hypodermic needles market is segmented into safety needles, and non-safety needles. Based on application, the hypodermic needles market is segmented into drug delivery, vaccination, and blood specimen collection. Based on end user, the hypodermic needles market is segmented into diagnostic centers, hospitals and clinics, and home health care. Based on usage, the hypodermic needles market is segmented into disposable, and reusable. Geographically, the hypodermic needles market is segmented into South & Central America (Brazil, Argentina, Rest of South & Central America).

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