According to a market report, published by Sheer Analytics and Insights, the global syringes market was valued at $18.4 billion in 2022 and it is expected to reach $50.9 billion at a CAGR of 9.2% between 2023 and 2033. The WHO's mandatory recommendation to transition to disposable syringes to ensure safe injection techniques, which leads to a rise in the usage of disposable syringes, has a considerable positive impact on the market for syringes. Prefilled syringe use is anticipated to increase during the following decades. They are typically used for the parenteral administration of a variety of medications; reducing medication waste, extending product life, and improving dose accuracy are some of the factors fueling the market demand. Moreover, the market for syringes is expanding as a result of factors including the rising elderly population, the high prevalence of chronic diseases worldwide, safety syringe usage, technical improvements, and increased demand for vaccinations. The main obstacles in the market, however, are the high cost of safety syringes and the rising number of needle stick injuries. These major factors would increase the growth of the market.
The primary reasons driving the growth of the global syringes market are the rise in the requirement for vaccination and immunization, the surge in the geriatric population, the rise in the number of surgical procedures, improvements in surgical instruments, and the rise in the frequency of chronic diseases. Given that needle stick injuries are the main cause of blood-borne infections among healthcare personnel, an increase in needle stick injuries has a considerable influence on the syringe industry. Emerging markets in the Asia-Pacific region present significant growth opportunities for businesses involved in the design and production of syringes. The main drivers of the market expansion for syringes in this region are the rising importance of global companies, rapid urbanization, favorable regulatory policies for the approval of novel injectable, and the sharp rise in the aging population. These primary factors would create more growth opportunities in the future.
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Syringes are among the most widely used medical supplies for injecting liquids and semi-solid substances into the bodies of people and animals. They can also be used to remove fluids from bodily cavities or to clean wounds. Leading syringe producers are constantly coming up with new, superior features for syringe technology. To increase their clientele, they are collaborating and partnering with producers of syringe labels and filling machines.
A catheter is a flexible, small, plastic tube that is used to administer IV or intravenous chemotherapy directly into a patient's bloodstream for the treatment of cancer. The medications could be administered fast and promptly through a catheter using a syringe over a while. Large corporations have started producing syringes for various chronic illnesses. Furthermore, the market demand is being fueled by the availability of syringes in various capacities, including small volume, medium volume, and large volume syringes. These syringes are utilized by a variety of end customers, including hospitals, research facilities, pharmaceutical companies, and clinical research facilities. It is the most effective way to inject or remove fluid from the body. Need in the market is anticipated to increase due to the rising demand for both reusable and disposable syringes.
The availability of alternative drug delivery techniques, the high cost of safety syringes, and the rise in the frequency of needle-stick injuries, however, are anticipated to impede the expansion of the syringe market internationally.
Some new developments in the global syringe market:
According to the study, key players dominating the global syringe market are B. Braun (Germany), Baxter International (U.S), BD (U.S), Carl-Zeiss-Stiftung (Germany), Cardinal Health (U.S), Gerresheimer (Germany), Hindustan Syringes and Medical Devices (India), Medtronic (Ireland), Novo Nordisk (Denmark), Nipro (Japan), Terumo Corporation (Japan), Ultimed Inc (U.S), WOLF Medical Supply (U.S), among others.
The Global Syringes Market Has Been Segmented Into:
The Global Syringes Market – by Product Type:
The Global Syringes Market – by End-User Type:
The Global Syringes Market – by Regions:
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