The global syringes market size is estimated to value USD 19.45 billion by 2027 and USD 13 billion in 2022, growing at a CAGR of 8.40% during the forecast period.
Syringes consist of a tube and a plunger attached with a needle. The Syringe is a piece of medical equipment used to emit fluids into a body and can be used to extract fluids like blood from the body. Basically, the fluids like blood, etc., will enter into a tube through a needle when a plunger handle is pulled, and the liquid will go out through the needle when the plunger is pushed down. The World Health Organisation (WHO) has urged all to use disposable syringes for safe injection practices. According to WHO, more than 16 billion injections are being used all over the world.
COVID-19 impact on the global syringes market:
The COVID-19 has been announced as a pandemic by WHO and recommended lockdown for around 200 countries, which affected so many global markets differently. The Syringes market has affected both positively and negatively. Due to the lack of workers in the manufacturing industries, the market has faced few rough times during lockdown. The syringe market was gradually going into profits after covid. The market has projected to grow by 10.6% during covid, which is 10.3% before covid. The syringes market, especially prefilled syringes, is more in demand; it is mainly because of the covid vaccine drive. The US government has ordered 100 million prefilled syringes worth USD 138 million for the corona vaccines by the end of 2020 and demanded 500 million prefilled syringes for 2021.
The global syringes market is going to witness healthy growth during the forecast period. The increasing prevalence of chronic diseases such as diabetes, infectious diseases, and cardiovascular diseases is the primary factor in syringes market growth. In addition, the increase in the use of prefilled syringes and an increase in the adoption of injectable drugs fuel the market. Moreover, the rise in the demand for Botox for therapeutic applications is boosting the market. The market is profiting due to an increase in the adoption of advanced technology and the launch of various devices favoring end-users. In addition, an increase in surgical procedures is boosting the market.
The vaccination and immunization drive for viruses such as COVID, typhoid, etc., will be a significant opportunity for the syringes market growth. In addition, the government investments in the hospitals will help the market in the coming years.
The high cost of safety syringes is the major restrains for the market growth. Moreover, the availability of alternative drug delivery methods is hindering the market. In addition, the risk of infection and the use of contaminated syringes by reusable syringes are stopping the market growth. Furthermore, day by day, needle stick injuries are increasing, which limits the market growth.
Due to a lack of awareness of healthcare and safety issues, emerging countries are ignoring safety syringes, which will be a significant challenge for market growth.
Market Size Available
2021 to 2027
2022 to 2027
By Usability, Material, Type, Specialized Syringes, and Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
North America, Europe, Asia Pacific, Latin America, Middle East, and Africa
This research report on the global syringes market has been segmented and sub-segmented based on the usability, material, type, specialized syringes, and region.
Syringes Market - By Usability:
Based on usability, the disposable syringes segment is expected to command a larger share due to the increasing use of injectable drug delivery, the Rising geriatric population, and the increased risk of infection with reusable syringes. These are most helpful to reduce the risk of infections and harmful diseases. In addition, an increase in the use of injectable drug delivery helped the market grow. Moreover, the rising geriatric population led the market leader in the forecast period.
The prefilled syringes are going to witness the fastest growth in the forecast period. This is because the increase in chronic diseases, like Cancer, Cardiovascular Diseases, and Diabetes, fuels market growth.
Syringes Market - By Material:
Based on material, the glass syringes market is accounting for the largest share in the forecast period. This is because the glass syringes are more effective and decrease the chances of syringe material reacting with fluid and can be reused.
The plastic syringe market is growing day by day and has registered a CAGR of 9.1%. The main reason for the growth was awareness about blood-borne infections; it pushed the market growth.
Syringes Market - By Type:
Based on the type, the specialized syringes market is about to grow significantly in the forecast period. The specialized syringes market is the largest revenue grantor. The increasing demand for injectable drugs had fuelled the market. On the other hand, the general syringes market is growing its market shares day by day during the forecast period.
Syringes Market - By Region:
Geographically, North America is predicted to dominate the global syringes market with the highest share, followed by Europe. The North American Syringes Market is predicted to dominate the global syringes market with the highest share. North America registered USD 3.36 billion at a CAGR of 7.7% in 2020; the market is estimated to project USD 4.87 billion by 2025. Increased Chronic diseases, infections, and the spread rate of infectious diseases had boosted the North American market. Furthermore, advanced drug delivery technology, specialized syringes, and the higher spending limit are the main reasons for market growth. In North America, the United States contributes a major market share. According to CDC reports, one hundred million people live with diabetes and pre-diabetes in the United States. So, insulin syringes are mostly used in the treatment of diabetes. In addition, the spread rate of infection and prevalence of diseases is high because of the US's high population. These are the major factors for Noth America's dominance in Global Syringes Market.
However, the Asia-Pacific Syringes Market is expected to increase at the highest CAGR owing to growing technological advancements, a growing number of healthcare facilities, and rapid growth in the aging population. The Asia-Pacific is the fastest-growing region in the Global Syringes Market. In 2020, the market registered USD 2.4 billion; by 2025, the market will reach USD 3.95 billion with a CAGR of 10.5% in the forecast period. Government support through funding is the main reason for market growth in Asia-Pacific. The major contributors to the market are India and China. The growing health care facilities are the significant factors. Furthermore, technological advancements in developing countries had boosted the market. The increase in awareness on the advantages of prefilled syringes and growth in the aging population in countries like Japan and china fuel the market.
The European Syringes Market is expected to grow at a CAGR of 8% from 2020 to 2025. This market is forecasted to grow at USD 4.23 billion in 2025 from USD 2.88 billion in 2020. The government initiative support through funding is dominating the market. The United Kingdom syringes market is the largest in Europe and is estimated to continue throughout the forecast period. Germany is basically known for the development and industrialization of new syringes. Because of healthcare infrastructure and the pharmaceutical industry Russia is the fastest growing country in Europe.
The Latin American Syringes Market is predicted to grow at a steady rate during the forecast period. Simultaneously, the MEA Syringes Market is forecasted to gain momentum in a couple of years and register stable market growth by the end of the forecast period.
KEY MARKET PARTICIPANTS AND SHARE INSIGHTS:
Companies leading the global syringes market profiled in the 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.
New Product Launches and Collaborations are some of the notable strategies that have been adopted by the companies operating in this market to maintain and maximize their market share. The recent COVID-19 pandemic has fuelled the sales of syringes across the globe, and market participants had taken new initiatives to manage the increased demand. For Instance, In 2020, Hindustan Syringes shipped the last consignment of 140 mn AD syringe for the COVAX, and Hindustan Syringes had increased the production to 1 billion for the demand of the covid-19 vaccine.
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.2 Sterilizable/reusable Syringes
184.108.40.206 Hydrodermic Syringes
220.127.116.11 Oral Syringes
5.1.3 Disposable Syringes
5.1.4 Y-o-Y Growth Analysis, By Usability
5.1.5 Market Attractiveness Analysis, By Usability
5.1.6 Market Share Analysis, By Usability
5.2.4 Y-o-Y Growth Analysis, By Material
5.2.5 Market Attractiveness Analysis, By Material
5.2.6 Market Share Analysis, By Material
5.3.3 Specialized Syringes
5.3.4 Y-o-Y Growth Analysis, By Type
5.3.5 Market Attractiveness Analysis, By Type
5.3.6 Market Share Analysis, By Type
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Usability
126.96.36.199 By Material
188.8.131.52 By Type
6.1.4 Market Attractiveness Analysis
184.108.40.206 By Geographical Area
220.127.116.11 By Usability
18.104.22.168 By Material
22.214.171.124 By Type
6.1.5 Market Share Analysis
126.96.36.199 By Geographical Area
188.8.131.52 By Usability
184.108.40.206 By Material
220.127.116.11 By Type
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 SCHOTT AG
8.3 Terumo Corporation
8.4 Medtronic plc
8.5 Smiths Medical
8.6 B. Braun Medical Inc.
8.7 NIPRO Corporation
8.8 Hindustan Syringes & Medical Devices Limited
8.9 Gerresheimer AG
8.10 CODAN Medizinische Geräte GmbH & Co KG
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures
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