The Latin America, Middle East and Africa Intravenous Equipment Market would witness market growth of 8.4% CAGR during the forecast period (2023-2030).
Developing nations are expected to drive the market due to improved healthcare infrastructure, rising unmet healthcare demands, and an increased prevalence of noncommunicable diseases, in particular diabetes and cardiovascular disease. Additionally, the desire for better healthcare services, significant government investments in enhancing the infrastructure for healthcare, and the growth of the medical tourism sector in emerging nations all contribute to the substantial growth in the healthcare sector in developing countries. The size of the market is also influenced by governments in many nations investing in healthcare infrastructure and encouraging the use of cutting-edge intravenous technology.
Additionally, ambulatory care environments, such as clinics, outpatient facilities, and ambulatory surgical centres, are expanding significantly. Intravenous therapy is often provided in these settings, which offer healthcare services without the requirement for overnight hospital stays. Since healthcare providers need dependable and effective equipment to give intravenous therapy in these settings, the growth of ambulatory care settings contributes to the demand for intravenous equipment.
According to the United Nations Industrial Development Organization’s “The Business of Health in Africa” report, despite having 11% of the world's population and 24% of the world's diseases, the region receives less than 1% of global health spending. These differences served as a catalyst for the beginning of numerous significant international financial support projects. Aid given to the region has also risen overall. Over the past ten years, Sub-Saharan Africa has received around $8 billion in aid from bilateral and multilateral donors combined. According to the information above, there will be a substantial market in the LAMEA region.
The Brazil market dominated the LAMEA Intravenous Equipment Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $406.6 Million by 2030. The Argentina market is showcasing a CAGR of 9% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 8.1% during (2023 - 2030).
Based on Product Type, the market is segmented into IV catheters, Infusion Pumps, Administration Sets, Needleless Connectors, and Others. Based on End User, the market is segmented into Hospitals & Clinics, Homecare Settings and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Intravenous Equipment Market is Projected to reach USD 21.9 Billion by 2030, at a CAGR of 5.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include AngioDynamics, Inc., B. Braun Melsungen AG, ICU Medical, Inc., 3M Company, Teleflex, Inc., Terumo Corporation, Baxter International, Inc., Becton, Dickinson and Company, Vygon and Poly Medicure Limited
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