The size of the North American syringes market was estimated to be USD 3.62 billion in 2022 and is predicted to reach USD 5.24 billion by 2027, showcasing a CAGR of 7.7% from 2022 to 2027.
The rise in chronic diseases, spread rate of infections, and demand for immunological drugs and vaccines are a few of the significant factors driving the syringes market in the North American region. Technological advancements and advanced primary research activities are further expected to accelerate the growth rate of the market. Y-O-Y growth in the incidence of chronic illness in heredity or adaption, such as cancer, diabetes, cardiovascular diseases, Neuron disorders, autoimmune diseases, genetic disorders, are vital factors for performing more surgeries, which is expected to increase the demand for syringes during the forecast period. In addition, alcohol abuse, physical illness due to lack of fitness and physical activity, smoking activities, drug or substance abuse, unhealthy lifestyle increases the prevalence of more diseases and surgeries. Due to the increase in patient population suffering from various chronic diseases, increased syringes usage in medical procedures over the last decade. According to CDC reports, one hundred million people live with diabetes and pre-diabetes in the United States. Insulin syringes are mainly used in the treatment of diabetes. Increased technology and research advancements, increased investors and global players, improved healthcare economy and well-developed infrastructure, grew medical check-ups under government policies, well-organized healthcare plans, and reimbursement schemes drive market growth.
Due to the increase in patient population suffering from various chronic diseases, increased syringes usage in medical procedures over the last decade. Hence, the demand for syringes has grown up since then. It also made it manufacturers challenging to meet the needs of various clinics, hospitals. The high rate of risk of infections with drug administration by syringes is a drawback to this market. The rise in needlestick injuries and low patient compliance are other factors that impacted the North American syringes market.
Impact of COVID-19 on the North American syringes market:
An increase in the number of cases, the spread of infection, and the death toll has been observed recently. This pandemic outbreak has taught us that social distancing is the only key to preventing the spread of infection. Every healthcare market in COVID-19 times impacted negatively. The world’s economy got affected in the same way. The stringent lockdown and regulations made halts in market growth. The focus shift of health care and medical staff towards COVID-19 patients is primarily observed. However, this market also faced a high need for syringes than earlier. The sudden rise in infection spread leads to more blood tests for antibodies and various tests involving needles. Hence the need for syringes has become high; manufacturers also got benefited due to this. In addition, the ban on imports and exports due to travel ban issues in COVID-19 times harmed syringes in this region.
This research report on the North American syringes market has been segmented and sub-segmented into the following categories:
Geographically, the North American regional market is expected to hold the most significant share in the global market during the forecast period due to the advanced drug delivery technology, specialized syringes, and the higher spending limit, increased chronic diseases, infections, and the spread rate of infectious diseases, rise in the adaption of Injectable drugs. In addition, other factors such as increased patients adapting minimally invasive surgeries, an increase in the number of surgeries performed due to the occurrence of disease rate are high, increased professionals in medicine and health care, awareness in public about early detection of diseases and their treatment are expected to accelerate the market growth.
In the North American region, the U.S. syringes market is forecasted to register the most substantial share during the forecast period. According to CDC reports, one hundred million people live with diabetes and pre-diabetes in the United States. Hence insulin syringes are mainly used in the treatment of diabetes. The United States is a highly populated region in North America; the spread rate of infection and prevalence of diseases are high. In addition, the North American region carries our most primary research activities, which need more syringes and other devices.
KEY MARKET PLAYERS:
A few of the noteworthy companies operating in the North America syringes market profiled in this report are Terumo Corporation, B. Braun Medical Inc., Medtronic plc, Becton Dickinson and Company, Smiths Medical, Hindustan Syringes & Medical Devices Limited, NIPRO Corporation, Gerresheimer AG, SCHOTT AG, and CODAN Medizinische Geräte GmbH & Co KG.
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