Latin America and the Caribbean: Syringe Market 2024

Syringe Market Size in Latin America and the Caribbean

The Latin American syringe market was finally on the rise to reach $X in 2022, after two years of decline. The total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2022 and is likely to see steady growth in the near future.

Syringe Production in Latin America and the Caribbean

In value terms, syringe production rose sharply to $X in 2022 estimated in export price. In general, production recorded a mild reduction. The most prominent rate of growth was recorded in 2015 when the production volume increased by 29% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

Syringe Exports

Exports in Latin America and the Caribbean

After two years of growth, overseas shipments of syringes, with or without needles decreased by -7.3% to X units in 2022. Overall, exports showed a mild decline. The growth pace was the most rapid in 2021 with an increase of 31% against the previous year. The volume of export peaked at X units in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, syringe exports surged to $X in 2022. Over the period under review, exports saw a relatively flat trend pattern. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Mexico was the major exporting country with an export of around X units, which reached 63% of total exports. It was distantly followed by Paraguay (X units), making up a 26% share of total exports. The Dominican Republic (X units), Colombia (X units), Brazil (X units) and Costa Rica (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to syringe exports from Mexico stood at -4.3%. At the same time, the Dominican Republic (+18.3%), Paraguay (+15.3%) and Costa Rica (+13.6%) displayed positive paces of growth. Moreover, the Dominican Republic emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +18.3% from 2012-2022. By contrast, Colombia (-4.4%) and Brazil (-8.9%) illustrated a downward trend over the same period. While the share of Paraguay (+21 p.p.) and the Dominican Republic (+2.6 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Brazil (-2.8 p.p.) and Mexico (-20.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest syringe supplier in Latin America and the Caribbean, comprising 76% of total exports. The second position in the ranking was held by Costa Rica ($X), with a 7.8% share of total exports. It was followed by Paraguay, with a 7.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Mexico stood at -1.9%. In the other countries, the average annual rates were as follows: Costa Rica (+11.6% per year) and Paraguay (+10.4% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2022, picking up by 36% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. The level of export peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Costa Rica ($X per unit), while Paraguay (less than $X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Dominican Republic (+5.4%), while the other leaders experienced more modest paces of growth.

Syringe Imports

Imports in Latin America and the Caribbean

In 2022, purchases abroad of syringes, with or without needles increased by 18% to X units, rising for the sixth consecutive year after three years of decline. Total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +72.2% against 2016 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, syringe imports rose significantly to $X in 2022. Total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +76.1% against 2016 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 30%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

Brazil represented the key importer of syringes, with or without needles in Latin America and the Caribbean, with the volume of imports resulting at X units, which was approx. 42% of total imports in 2022. It was distantly followed by Mexico (X units), Chile (X units) and Colombia (X units), together generating a 29% share of total imports. Peru (X units), Guatemala (X units), Venezuela (X units), Ecuador (X units), Argentina (X units), the Dominican Republic (X units), Costa Rica (X units), El Salvador (X units) and Honduras (X units) followed a long way behind the leaders.

Brazil was also the fastest-growing in terms of the syringes, with or without needles imports, with a CAGR of +13.0% from 2012 to 2022. At the same time, Chile (+7.8%), Ecuador (+6.4%), Honduras (+5.7%), Peru (+3.9%), El Salvador (+3.5%), Costa Rica (+2.7%), the Dominican Republic (+2.7%), Guatemala (+2.3%), Mexico (+1.6%) and Argentina (+1.2%) displayed positive paces of growth. Colombia experienced a relatively flat trend pattern. By contrast, Venezuela (-7.8%) illustrated a downward trend over the same period. Brazil (+22 p.p.) and Chile (+2.2 p.p.) significantly strengthened its position in terms of the total imports, while Colombia, Mexico and Venezuela saw its share reduced by -2.9%, -5.5% and -7.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest syringe importing markets in Latin America and the Caribbean were Mexico ($X), Brazil ($X) and Chile ($X), together accounting for 62% of total imports.

In terms of the main importing countries, Mexico, with a CAGR of +11.7%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per thousand units in 2022, falling by -8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. The growth pace was the most rapid in 2021 when the import price increased by 12%. As a result, import price reached the peak level of $X per thousand units, and then fell in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Argentina ($X per thousand units), while Honduras ($X per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+9.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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