The Global Syringes Market research report is a comprehensive document that outlines the most recent advancements and developments in the Syringes industry, with 2019 as the base year and 2022-2030 as the forecast period. The report provides useful insights into market size, market share, sales channel and distribution network, market segmentation, demands and trends, and growth prospects. The report also examines market growth on a global and regional scale. The report investigates the COVID-19 pandemic’s impact on the Syringes Market and its key segments.
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.
Syringe market revenue growth is being driven by the high demand for the COVID-19 vaccine. The need for syringes to administer the COVID-19 vaccine has risen in tandem with initiatives to boost vaccine production. More than 12.1 billion doses have reportedly been administered across 184 nations, according to study. The most recent rate was 47.1 million doses daily. The requirement for booster dosages rose after the emergence of the omicron version in late 2021, which boosted the demand for syringes.
The rising number of needlestick injuries and infections is expected to restrain revenue growth of the market. People who deal with hypodermic syringes and other needle equipment run the risk of suffering needlestick wounds. Whenever someone disassembles or discards a needle, an injury might occur. Needles that are not properly disposed of might linger in rubbish or linen and hurt other workers when they unintentionally come into contact with them. In particular, blood-borne viruses are spread through these wounds. Hepatitis B and hepatitis C are some of the concerns, as well as the Human Immunodeficiency Virus (HIV), which causes Acquired Immune Deficiency Syndrome (AIDS). Accidental needlesticks can transfer potentially harmful substances into the body through the skin. There is potential for injection of hazardous drugs, but contact with infectious fluids, especially blood, is by far the greatest concern. Certain illnesses can be disseminated successfully even by little quantities of infectious fluid.
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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.
Leading Market Players Profiled in the Report:
BD, Terumo, Medtronic, Smiths Medical, B. Braun Melsungen AG, NIPRO, Hindustan Syringes & Medical Devices Ltd, Gerresheimer AG, SCHOT, and CODAN Companies
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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.
Key market aspects studied in the report:
Market Scope: The report explains the scope of various commercial possibilities in the global Syringes market over the upcoming years. The estimated revenue build-up over the forecast years has been included in the report. The report analyzes the key market segments and sub-segments and provides deep insights into the market to assist readers with the formulation of lucrative strategies for business expansion.
Competitive Outlook: The leading companies operating in the Syringes market have been enumerated in this report. This section of the report lays emphasis on the geographical reach and production facilities of these companies. To get ahead of their rivals, the leading players are focusing more on offering products at competitive prices, according to our analysts.
Report Objective: The primary objective of this report is to provide the manufacturers, distributors, suppliers, and buyers engaged in this sector with access to a deeper and improved understanding of the global Syringes market.
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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
- Tuberculin (TB)
- Smart Syringes
- Auto safety
- Usage Outlook (Revenue, USD Billion; 2019–2030)
- Reusable Syringes
- Disposable Syringes
- End-Use Outlook (Revenue, USD Billion; 2019–2030)
- Blood Collection Centers
- Diabetic Care Centers
- North America (the U.S., Canada, Mexico)
- Europe (the U.K., Germany, France, Italy)
- Asia Pacific (India, China, Japan, Korea)
- Latin America (Brazil, Argentina, Ecuador, Chile)
- Middle East & Africa (Egypt, Turkey, Saudi Arabia, Iran)
Key reasons to buy the Global Syringes Market report:
- The latest report comprehensively studies the global Syringes market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
- The report offers an insightful analysis of the regional outlook of the market.
- It offers a detailed account of the end-use applications of the products & services offered by this industry.
- The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.
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