A syringe is a type of tube with a needle attached wit it that acts as a plunger. It is a type of device used for medical purposes to inject or to withdraw fluid in or from the body. The devices are mostly seen in the hospital and healthcare facilities across the world. Drugs, vaccines and antibodies are injected into the body effectively with the help of a syringe. The different types of syringes used worldwide are disposable syringes, sterilizable or reusable syringes, and prefilled syringes. The need for the aforementioned syringes has been raised owing to the rise in incidence of prolonged diseases and rise in need fir vaccination across the world.
Globally, the market for syringe is forecasted to report for US$ 16,023.5 million as per value by 2022.
📌 Market Drivers :
Rise in need for vaccination worldwide is anticipated to fuel the market growth of the syringe market worldwide in the predicted period. For example, the immune system is able to ward of the infections quickly and effectively with the help of vaccines. Vaccines are safe and effective in prevention of people getting very ill, hospitalized or dying. The global pandemic of COVID-19 has raised the application of disposable syringe across the world. According to the WHO (World Health Organization) 4:53 p.m worldwide CET, 1st November, 2022, the total number of confirmed cases of COVID-19 were 627,573,579 which included 6,570,363 deaths and till 25th October, 2022, more than 12,830,378,906 vaccine dozes have been given.
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📌 Market Opportunities:
Increasing problem of prolonged ailments and communicable/infectious diseases and the elderly population worldwide is anticipated to provide profitable opportunities of growth for the companies in the market for syringe. For example, rise in incidence of prolonged ailments has raised the application of syringes, mainly disposable syringes and prefilled syringes. As per WHO, NCD’s or the non-communicable diseases kills over 41million people every year, this is equal to 74% of the total deaths across the world. As per the Centers for Disease Control and Prevention (CDC), non-communicable diseases like the heart diseases, chronic respiratory disease and diabetes are the main death cause across the world and signifies an evolving health menace worldwide.
📌 Market Restraints :
Safety syringe cost being high, increasing number of needle-stick injuries, and the existence of available options of delivery drug techniques are the main causes anticipated to hamper the market growth of the syringe worldwide. For example, there are many different delivery of drug techniques like oral, buccal, nasal, rectal, ocular route, vaginal, cutaneous, sublingual, transdermal, otic route and many more. Furthermore, in the healthcare industries, needle-stick injuries are more often seen and gets serious at times.
📌 Global Syringe Market – Impact of Coronavirus (Covid-19) Pandemic
The COVID-19 outbreak had a positive effect on the market growth of the syringe worldwide. The pandemic had led to the rise in use of syringes across the world owing to increase in need for vaccinations. For example, in order to support the immunization effort of COVID-19 worldwide, Becton, Dickinson and Company got orders of two billion injectable devices in forms of syringes and needles for the pandemic. Furthermore, in January 2020, BARDA (Biomedical Advanced research and Development Authority) evaluated almost 650 Mn to 850 Mn syringes and needles will be required to give vaccine in the U.S. alone
📌 Key Takeaways
Globally, the market for syringe market was priced at US$ 14,839.3 million in the year 2022 and is predicted to the extent of US$ 25,498.0 million by the year 2030 at a CAGR of 8.0% from 2023 to 2030.
Based on the usage, the segment of disposable syringes holds a dominating place in the market of syringe worldwide in the year 2021, reporting for 67.2% value of share, raising consent and introduction of novel products is anticipated to fuel the segment’s growth in the predicted period.
📌 Market Trends
There is a rise in need for the syringes of disposable nature and prefilled syringes worldwide owing to the rise in problem of prolonged ailments and rise in consciousness in regard to the benefits of the prefilled syringes, mainly in the North America, and Asia Pacific region. Rise in incidence of prolonged ailments has raised the usage of syringes and this tendency is anticipated to lasts in the predicted period. This is anticipated to help in the market growth.
📌 Competitive Landscape
The main companies participating in the market of syringe worldwide are Catalent Inc., Smiths Medical Inc., Cardinal Health, Schott AG, Nipro Corporation, Terumo Corporation, Gerresheimer AG, B. Braun Melsungen AG, Becton, Dickinson and Company, Codan Medizinische Geräte GmbH & Co. KG, and Hindustan Syringes & Medical Devices Limited, among others.
📌 Recent Developments
BD in May 2021 pronounced its plan to start its Diabetes Care segment as separate, public-traded company. BD Diabetes Care has been the main power behind the use of insulin syringes and other types of products, creating around 8 Bn injection devices every year and caring about 30 Mn patients.
Becton, Dickinson, and Company in October 2019 pronounced the introduction of BD Intevia 1mL two-step disposable autoinjector, a platform device uniting autoinjector and pre-fillable syringe in one integrated system.
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📌 Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Syringes Market Size Analysis from 2023 to 2030
11.6 COVID-19 Outbreak: Syringes Industry Impact
Chapter 2 Global Syringes Competition by Types, Applications, and Top Regions and Countries
2.1 Global Syringes (Volume and Value) by Type
2.3 Global Syringes (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Syringes Sales, Consumption, Export, Import by Regions (2017-2022)
Chapter 5 North America Syringes Market Analysis
Chapter 6 East Asia Syringes Market Analysis
Chapter 7 Europe Syringes Market Analysis
Chapter 8 South Asia Syringes Market Analysis
Chapter 9 Southeast Asia Syringes Market Analysis
Chapter 10 Middle East Syringes Market Analysis
Chapter 11 Africa Syringes Market Analysis
Chapter 12 Oceania Syringes Market Analysis
Chapter 13 South America Syringes Market Analysis
Chapter 14 Company Profiles and Key Figures in Syringes Business
Chapter 15 Global Syringes Market Forecast (2023-2030)
Chapter 16 Conclusions
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