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2020
Syringes Market

Syringes Market

by Product (General Syringes, Specialized Syringes, and Others), Usage (Reusable and Disposable Syringes), Material (Glass and Polymer), and End Use (Hospitals, Diagnostic Centers, Speciality Centers, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027
Update Available On-Demand

Report Code: A07514
Pages: 254
Dec 2020 | 4417 Views
Author(s) : Vishal Bhardwaj , Onkar Sumant
Tables: 140
Charts: 51
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Syringes Market Statistics 2030

The global syringes market size was valued at $15,340 Million in 2019, and is projected to reach $32,394.74 Million by 2027, registering a CAGR of 9.6 % from 2020 to 2027. Syringe is a medical instrument used for the extraction of fluids from the body or to inject fluids into the body. Syringes are available in various shapes and types, including general syringe, specialized syringes (insulin syringe, tuberculin syringe), and disposable syringes (conventional syringes, prefilled syringes, and safety syringes).

The COVID 19 outbreak has lead to shutdown of manufacturing of syringes which in turn lead to supply shortage at a global scale. This is expected to restrain the growth of the market.

Mandatory recommendation by WHO to switch to disposable syringes ensuring safe injection practices, resulting in increased use of disposable syringes, significantly fosters the growth of the syringes market. However, prefilled syringes are expected to accelerate over the coming decades. They are generally preferred for parenteral administration of various drugs, minimizing drug waste, increasing product life span, and greater dose precision are some of the driving factors boosting the market demand.

syringes-market-2020-2027-1608039767

 

Rise in need for vaccination & immunization, surge in geriatric population, increase in number of surgical procedures, advancements in surgical devices, and rise in incidence of chronic diseases are the key factors that drive the growth of the global syringes market. Increase in cases of needlestick injuries has a significant impact on the syringes market, the fact that needlestick injuries are the leading cause of blood-borne diseases among healthcare professionals.

Syringes Market
By Product Type

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specialized syringes segment holds a dominant position in 2019

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According to the Occupational Safety and Health Administration (OSHA) estimates, approximately 5.6 million healthcare professionals were susceptible to blood-borne diseases in 2014, owing to rise in prevalence of needlestick and other sharps object injuries. Every year, about 384,000 healthcare personnel suffer from needlestick injuries in the U.S. Thus, such alarming increase in incidence of needlestick injuries has created an impending need for safety syringes. In addition, wide availability of cost-effective syringes and increase in healthcare expenditure and rise in number of surgeries among elderly population significantly contribute toward the growth of the market. Moreover, increase in focus of companies to introduce other means of drug delivery without using syringes is expected to restrict the adoption of syringes, thereby negatively impacting the market growth in the near future. However, chances of developing infection, owing to use of contaminated, reusable syringes are expected to hamper the market growth.

The World Health Organization (WHO) on January 30, 2020, declared COVID-19 outbreak a public health emergency of international concern. COVID-19 has affected around 210 countries across the globe. Syringes manufacturing and distributing companies have been affected by COVID-19 to a limited extent, owing to shutdowns in various COVID-19 affected countries and a rise in the number of syringes manufacturing workers falling ill during the COVID-19 pandemic, leading to short supply. Thus, COVID-19 infection restrain the syringes market to a limited extent.

Syringes Market
By Usage

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Disposable syringes segment holds a dominant position in 2019

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Syringes Market Segmentation

The global syringes market is segmented into type, usage, material, end use, and region. By type, the market is categorized into general syringes, specialized syringes, and others. The specialized syringes are further divided into insulin syringe and tuberculin syringes. Depending on usage, the market is bifurcated into reusable and disposable syringes. The disposable syringes segment is subsegmented into conventional syringes, prefilled syringes, and safety syringes.

On the basis of material, the market is fragmented into glass and polymer. By end user, it is segregated into hospitals, diagnostic centers, specialty centers, and others. Region wise, it is analyzed across North America Europe, Asia-Pacific, and LAMEA.

Syringes Market
By Material Type

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Polymer is projected to be one of the lucrative segment

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Segment review

Presently, on the basis of type, the specialized syringes segment is the major revenue contributor, and is projected to grow significantly during the forecast period. This is attributed to increase in demand for disposable syringes and rise in demand for injectable drugs.

Depending on end user, the hospital segment is the major shareholder in the global syringes market, owing to ease of facilities for surgeries, rise in prevalence of chronic diseases among the geriatric population, availability of advanced healthcare facilities, and rise in number of hospitals across the globe drive growth of the segment.

Syringes Market
By End Use

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Hospitals segment holds a dominant position in 2019

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Snapshot of Asia-Pacific syringes market

Asia-Pacific presents lucrative opportunities for key players operating in the syringes market, owing to rise in demand for syringes, development of the R&D sector, rise in healthcare reforms, and technological advancements in syringes. Moreover, surge in demand for advanced medical facilities, presence of high population base, and increase in number of target population suffering from chronic diseases in emerging economies contribute toward the growth of the market. Furthermore, focus of leading manufacturers on expanding their geographical presence in emerging Asia-Pacific countries to capture high market share is expected to drive the growth of the syringes market in the region.

The key players profiled in this report include B. Braun Melsungen AG, Becton, Dickinson and Company, Cardinal Health Inc, Gerresheimer AG, Hindustan Syringes and Medical Devices Ltd., Medline Industries, Inc, Nipro Corporation (Nipro Medical Corporation), Retractable Technologies, Inc, Smith’s Group Plc, Terumo Corporation (Terumo Medical Corporation).

Syringes Market
By Region

2027
North America 
Europe
Asia-pacific
Lamea

Asia-Pacific region would exhibit the highest CAGR of 10% during 2020-2027.

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Key Benefits For Stakeholders

  • The study provides an in-depth analysis of the syringes market size along with the current trends and future estimations to elucidate the imminent investment pockets.
  • It offers syringes market analysis from 2019 to 2027, which is expected to enable the stakeholders to capitalize on the prevailing opportunities in the market.
  • A comprehensive analysis of major regions is provided to determine the prevailing opportunities.
  • The profiles and growth strategies of the players are thoroughly analyzed to understand the competitive outlook and global syringes market growth.

Syringes Market Report Highlights

Aspects Details
By Product
  • General Syringes
  • Specialized Syringes
    • Insulin Syringes
    • Tuberculin Syringes
  • Others
By End Use
  • Hospitals
  • Diagnostic Centers
  • Speciality Centers
  • Others
By Material
  • Glass
  • Polymer
By Usage
  • Disposable Syringes
    • Conventional syringes
    • Safety syringes
    • Prefilled syringes
  • Reusable Syringes
By Region
  • North America  (U.S, Canada, Mexico)
  • Europe  (Germany, France, UK, Italy, Spain, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
By Key Market Players
  • Braun Melsungen AG
  • Becton, Dickinson and Company
  • Cardinal Health Inc
  • Gerresheimer AG
  • Hindustan Syringes and Medical Devices Ltd.
  • Medline Industries, Inc.
  • Nipro Corporation (Nipro Medical Corporation)
  • Retractable Technologies, Inc
  • Smith’s Group Plc
  • Terumo Corporation (Terumo Medical Corporation)
 

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Syringe is a medical device used for the extraction of fluids from the body or to inject fluids into the body. Different types of syringes are available in the market, which include general syringe and specialized syringes.  The specialized syringes is further bifurcated into insulin syringe and tuberculin syringe. As per usage, the market is segregated into reusable and disposable syringes. The disposable syringes segment is further divided into conventional syringes, prefilled syringes, and safety syringes.

The growth of the global syringe market is driven by factors such as increase in surgical procedures globally, wide usage of injectable drug delivery devices, advancements in medical technology in syringes, and rise in incidences of chronic diseases significantly contribute toward the growth of the market

Moreover, the syringes market has witnessed a paradigm shift in recent years with the replacement of reusable syringes with disposable syringes to reduce the risk of infection during surgical procedures. Furthermore, prominent manufacturers have focused on producing advanced disposable syringes at a cost-effective price, as this segment is expected to generate the highest revenue during the forecast period.
 

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FREQUENTLY ASKED QUESTIONS?

A. Specialized segment dominates the global market, and is anticipated to continue this trend during the forecast period. the growth of this segment is attributable to alarming rise in prevalence of type II diabetes among the population, and increase in the global burden of tuberculosis (TB) due to disruptions of health services

A. The major factor for the growth of syringes market are rise in incidence of chronic diseases, and surge in demand for vaccination & immunization. Furthermore, rapid growth in the geriatric population, and rise in demand for injectable drugs accelerate the market growth

A. owing to improvement in healthcare infrastructure, rise in the number of hospitals equipped with advanced medical facilities, development of the R&D sector, rise in healthcare reforms, and technological advancements in the field of healthcar

A. The total market value of syringes market is $15,340 million in 2019

A. The forcast period for syringes market is 2020 to 2027

A. The market value of syringes market in 2027 is $32,3794.94 million

A. The base year is 2019 in syringes market

A. Cardinal Health, Becton, Dickinson and Company, Nipro Medical Corporation, Terumo Corporation held a high market postion owing to the strong geographical foothold in different regions.

A. Syringe is a cylindrical medical device, which has a thin hollow needle at the end attached to a tube and a plunger

A. Syringes are used for the extraction of fluids from the body or to inject fluids into the body

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