Global Syringes Market Forecast to 2030
The Syringes Market research report is a comprehensive and vital document that includes business strategies, qualitative and quantitative analysis, and emerging trends in the global Syringes Market. The report provides in-depth research and analysis of the key elements of the global Syringes Market. This report was created by the research analysts after conducting extensive primary and secondary research and analysing the drivers, restraints, challenges, trends, and opportunities in the Syringes Market.
The global syringes market size reached USD 15.98 Billion in 2021 and is expected to register a revenue CAGR of 8.7% during the forecast period, according to latest analysis by Emergen Research. The rising demand for vaccination and immunization is an important factor driving market revenue growth.
High demand for the COVID-19 vaccine is driving the syringe market revenue growth. Demand for syringes to administer the COVID-19 vaccine has increased along with efforts to increase vaccine manufacturing. According to research, more than 12.1 billion doses have been given across 184 countries. Most recently, the rate was at 47.1 million doses per day. Emergence of the omicron variant in late 2021 increased the demand for syringes as there was an increased need for booster doses.
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Competitive Terrain:
The global Syringes industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
The leading market contenders listed in the report are:
BD, Terumo, Medtronic, Smiths Medical, B. Braun Melsungen AG, NIPRO, Hindustan Syringes & Medical Devices Ltd, Gerresheimer AG, SCHOT, and CODAN Companies
Research Report on the Syringes Market Addresses the Following Key Questions:
- Who are the dominant players of the Syringes market?
- Which regional market is anticipated to have a high growth rate over the projected period?
- What consumer trends and demands are expected to influence the operations of the market players in the Syringes market?
- What are the key growth drivers and restraining factors of the Syringes market?
- What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
- What is the overall impact of the COVID-19 pandemic on the Syringes market and its key segments?
Market Overview:
The report bifurcates the Syringes market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
- Product Outlook (Revenue, USD Billion; 2019–2030)
- General Syringes
- Specialized Syringes
- Insulin
- Tuberculin (TB)
- Allergy
- Auto-Disable
- Auto safety
- Usage Outlook (Revenue, USD Billion; 2019–2030)
- Reusable Syringes
- Disposable Syringes
- Empty
- Prefilled
- End-Use Outlook (Revenue, USD Billion; 2019–2030)
- Hospitals
- Blood Collection Centers
- Diabetic Care Centers
- Others
Regional Landscape section of the Syringes report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Some Key Highlights From the Report
- General syringes segment accounted for the largest revenue share in 2021. General-purpose syringes are made of polypropylene (most frequently) plastic and are disposable. A general-purpose syringe's main feature is that it doesn't have a single, focused usage. Instead, they are widely used for a variety of tasks, including those in industrial manufacturing, compounding pharmacies, and medical situations including Intravenous (IV) treatments and vaccination injections. The need for vaccinations is projected to increase as the birth rate rises in developing countries which is expected to drive revenue growth of the segment.
- Disposable syringes segment accounted for the largest revenue share in 2021. Sanitation and safety are the two main benefits of using a disposable syringe. Patients no longer have to rely entirely on the doctors sterilizing techniques to ensure their safety owing to disposable syringes, which are thrown away after only one use. There are no dangers of cross-contamination as a result. The cost-effectiveness of utilizing disposable syringes is another advantage. These disposable syringes are far less expensive and require no maintenance than conventional syringes. As a result, doctors can focus more on caring for patients rather than maintaining expensive medical equipment which is driving revenue growth of the segment.
- Hospitals segment accounted for a moderate revenue share in 2021. Increasing number of people being diagnosed with different chronic conditions is driving segment revenue growth. According to research, chronic illness, such as diabetes, cancer, stroke, or heart disease, affects six out of ten Americans. For the cure of these diseases, there is a high demand for syringes to administer medicine. Every hospital across the globe uses needles on the patients they treat on a daily basis. According to World Health Organization (WHO) 16 billion injections are administered globally, every single year.
- Market in Asia Pacific accounted for the second-largest revenue share in 2021 owing to rising demand for COVID-19 vaccination in highly populated countries such as India and China. Countries will now begin storing syringes for immunization efforts since COVID-19 vaccines have demonstrated excellent outcomes globally. Anticipating this surge in global demand, Indian syringe makers are ramping up production capacities. The largest syringe producer in the country, Hindustan Syringes and Medical Devices (HMD) increased its manufacturing capacity by almost twofold, from 57 million units to 100 million units.
The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Syringes market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Points of the Geographical Analysis:
- Data and information related to the consumption rate in each region
- Estimated increase in the consumption rate
- Proposed growth of the market share of each region
- Geographical contribution to market revenue
- Expected growth rate of the regional markets
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