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(Medical-NewsWire.com, January 13, 2018 ) The Latin America Prefilled Syringes Market was worth $0.45 billion in 2016 and estimated to be growing at a CAGR of 7 %, to reach $0.6 billion by 2021. A “prefilled syringe” is a syringe filled with a fixed quantity of a therapeutic drug.
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It is more accurate, affordable, convenient, sterile, safe and accessible as compared to traditional drug delivery methods in which vials were used for storage of pharmaceutical drugs. These vials were prone to dosing errors and contamination while prefilled syringes have no such drawbacks This format of parenteral drug delivery system is being adopted by growing number of healthcare facilities.
The growth of the Latin America Prefilled Syringes Market is mainly driven by factors such as increasing prevalence of chronic diseases, steadily rising patient population base, and its superior performance in drug delivery at affordable price.
The Latin America Prefilled Syringes market is segmented into five broad categories: materials, type, design, application and distribution channel. Material is further sub-segmented into glass prefilled syringes and plastic prefilled syringes. By type the market is divided into conventional prefilled syringes and safety prefilled syringes. Design is further segmented into single-chamber, dual-chamber and customized prefilled syringes. Vaccines and monoclonal antibodies are major categories under application. On the basis of distribution channel, the prefilled syringes market is segmented into hospitals, ambulatory surgical centres, and mail order pharmacies.
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Latin America market region includes countries such as Brazil, Mexico, Argentina, and remaining countries of South America.
This market is extremely disjointed with numerous big and developing players operating in the business. The major companies dominating the Prefilled Syringes market in this region are Agfa HealthCare, Medviso AB, Aquilab, Bruker Corporation, Carestream Health Inc., Esaote S.p.A, GE Healthcare, Spacelabs Healthcare, Merge Healthcare Inc., Xinapse Systems Ltd., MIM Software Inc., Philips Healthcare, Claron Technologies, Siemens Healthcare, and Toshiba Medical Systems Corporation.
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