The Latin America IV Equipment Market Size is valued at USD 0.67 billion in 2023 and is estimated to grow at a CAGR of 5%, reaching USD 0.85 billion by 2028 from 2023 to 2028.
One of the most critical factors driving IV catheter growth is the growing need for short closed peripheral IV catheters, which are capable of reducing problems during intravenous treatments. Furthermore, closed IV catheter systems protect against the dangers of needle-stick injuries.
In addition, a rise in the number of surgeries in Latin America is a significant driver of market growth. The All India Institute of Medical Science (AIIMS) said that it performed 1.94 lakh procedures in 2020, making it the institute with the most surgeries performed globally during that year.
Another critical aspect is the prevalence of various chronic diseases requiring vascular access treatment has increased. Cancer, kidney failure, and heart disease are among the disorders, as are different lifestyle conditions such as hypertension, diabetes, obesity, and depression, all of which require essential care while in the hospital. The surge in chronic diseases is fueling the market's expansion.
The advent of ambulatory infusion pumps, as well as different advancements and discoveries in the healthcare field to integrate technology, are other indirect intravenous (IV) equipment market growth variables.
The treatment's high costs will operate as a market growth stumbling block. The market's growth rate will be further slowed by medication errors caused by infusion pumps, resulting in product recalls. Market constraints would be exacerbated by unfavorable reimbursement practices, particularly in developing markets, as well as stringent regulatory requirements and compliances.
This research report on the Latin America IV Equipment Market has been segmented and sub-segmented into the following categories.
By End User:
Geographically, the Latin America IV Equipment Market has a moderate portion of the market globally and will further continue to grow over the forecast period.
The Brazil IV Equipment Market is expected to grow significantly due to the growth of medical tourism, more significant investment in healthcare infrastructure, and rising personal disposable income, the growth rate throughout the forecast period would be higher.
Other indirect intravenous (IV) equipment market growth determinants include the appearance of ambulatory infusion pumps and the rising advent of various technologies and investigations in healthcare to integrate technology in countries like Mexico and Brazil.
The Mexico IV Equipment Market is estimated to reach a decent CAGR due to the government's expanding measures to raise awareness, particularly in developing economies, which are accompanied by an increase in cases of lifestyle change in Mexico.
Blood transfusions have grown increasingly popular in the medical and healthcare industries, owing to the rising prevalence of disorders that cause blood loss. Because intravenous therapies are so important in blood transfusion procedures, the demand for IV equipment in Latin America is expected to soar to unprecedented heights.
Furthermore, people with severe diseases and disorders frequently have difficulty swallowing food, pills, or liquids. In such instances, IV equipment aids in administering the proper pharmaceutical doses to the patients.
KEY MARKET PLAYERS
Noteworthy Companies leading the Latin America IV Equipment Market are Moog, Inc. (U.S.), ICU Medical, Inc. (U.S.), Smiths Medical (U.K.), Becton, Dickinson, and Company (U.S.), Baxter International Inc. (U.S.), Fresenius SE & Co. KGaA (Germany), B. Braun Melsungen AG (Germany), Terumo Corporation (Japan.), C. R. Bard, Inc. (U.S.).,
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