Latin America Peripheral Intravenous Catheters Market

The size of the Latin America Peripheral Intravenous Catheters market was around USD 0.24 Billion in 2022. It is expected to grow at a CAGR of 5.8% to reach USD 0.32 Billion by 2027. It captures 5% of the global market.

A peripheral intravenous catheter is a small tube placed into a vein and delivered directly into the bloodstream. Modern peripheral intravenous (IV) catheters incorporate additional safety measures to reduce needlestick accidents. Growing attention on minimizing needle-stick injuries, high healthcare spending, and increased acceptance of these devices in emerging countries will likely generate significant growth.

The growing popularity of integrated/closed peripheral intravenous catheters among Latin Americans is expected to boost the growth of the peripheral intravenous (IV) catheter in this region. The increased prevalence of sickness and infection is one of the primary causes driving catheterization demand in hospitals, healthcare centers, ambulatory surgery centers, clinics, and home healthcare units.  As disease outbreaks become more common, demand for peripheral intravenous catheters for patient evaluation, diagnosis, and treatment is predicted to skyrocket. As a result, this catheter is projected to have a more significant percentage of PIVCs than other catheters. Most importantly, increased healthcare spending and infrastructural upgrades promote market expansion. Additionally, the implementation of PIVC technology will boost sales even more.

The increased capacity to afford costly medical treatments like catheterization will fuel market expansion. Compared to its equivalents, another factor that makes peripheral intravenous catheters a popular choice among physicians and patients is their user-friendly material composition. The PIVC is ideal for delivering antibiotics, IVs, analgesics, and psycoleptics, among other things, conveniently and directly. In addition, it plays a critical role in preventing blood-borne pathogen infections. In Latin America, these qualities are currently driving the demand for peripheral intravenous catheters.

Costly catheterization procedures may hamper PIVC adoption in Latin America's developing markets. Traditional PIVC sales are expected to fall dramatically due to harsh regulatory constraints connected to medical devices in various locations. However, the high cost of peripheral intravenous catheters and the different complications are projected to limit the market's growth. In contrast, a lack of training for the use of peripheral catheters and painful insertion is also expected to hinder the market's growth.

This research report on the Latin American peripheral intravenous catheters market has been segmented and sub-segmented into the following categories:

• By Product: Short PIVC (Ported Peripheral Intravenous Catheter and Non-ported Peripheral Intravenous Catheter) and Integrated/Closed PIVC   
• By Type: Integrated/Closed catheters and Peripheral insertion catheters     
• By End User: Hospitals, Clinics, Ambulatory Surgery Centers (ASCs), Home Use and Others   
• By Technology: Conventional Peripheral Intravenous Catheter and Safety Peripheral Intravenous Catheter
• By Country: Brazil, Mexico, Argentina, Chile, and Rest of Latin America

Geographically, Latin America had a moderate share of the worldwide market in 2020. However, technical developments in catheterization procedures are expected to boost demand for peripheral intravenous catheters in this region during the forecast period. Furthermore, increasing the use of non-irritant, non-toxic, and user-friendly ingredients in PIVC production may reduce related adverse effects and hazards, hence increasing PIVC availability. Additionally, manufacturers have already begun to improve PIVC design to avoid the issues that plagued previous iterations. This is regarded to be a significant geographical factor in market expansion.

Furthermore, nations with the most significant population pools in the region, such as Mexico and Brazil, will see an increase in the patient population in the near future due to their high older people.

KEY MARKET PLAYERS:

Smith Medical, Terumo Corporation, C. R. Bard, Inc., Becton Dickinson and Company, B. Braun Melsungen AG, Tangent Medical, and Vygon Group are a few companies playing a notable role in the market.