(PharmaNewsWire.Com, August 09, 2017 ) The Latin America Hospital Supplies Market was worth $1.95 billion in 2016 and estimated to be growing at a CAGR of 10.40%, to reach $3.19 billion by 2021. Hospital medical equipment and supplies denote the various devices, instruments and medical consumables that are utilized in hospitals and healthcare institutions.
Top players in the hospital supplies market are launching technically innovative products to help doctors better manage their patients.
The growth of the Latin America Hospital Supplies Market is majorly driven by factors such as rising number of hospitals, aging population, increasing occurrences of communal diseases, and methods such as frequent glove swapping and double gloving during procedures. Improved economic situation of the developing countries in this region is another major factor boosting the growth of the market. However, advent of home care services, strict regulatory structure, and advance of personalized medicine are the major restraints hindering the growth of the market.
The Latin America Hospital Supplies Market is segmented on the basis of product type into Operating Room Equipment, Sterilization & Disinfectant Equipment, Syringes & Needles, Patient Examination Devices, Mobility Aids & Transportation Equipment, and Disposable Hospital Supplies. Disposable hospital supplies lead the market with a market share of 46% followed by syringes and needle segment with a market share of 23%.
Latin America market region includes countries such as Brazil, Mexico, Argentina, and remaining countries of South America. Brazil accounts for the major part of the Hospital Supplies market in this region followed by Argentina. Other significant markets in this region are Uruguay, Paraguay, Colombia, Chile, and Bolivia.
Some of the major companies dominating this market are Advanced Sterilization Products Services Inc., Dickinson and Company, Cardinal Health, Inc., Kimberly-Clark Corporation, Becton, 3M Health Care, and B. Braun Melsungen AG.
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