The Syringes Market report offers details about market size, market share, revenue growth, and CAGR during the forecast period of 2022-2030. The report also offers key insights about top companies in the market along with a thorough SWOT analysis, Porter’s Five Forces analysis, and feasibility analysis to offer competitive edge to the readers. The report focuses on the recent trends, major challenges and opportunities, and limitations pertaining to the ongoing pandemic.
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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Global Syringes Market Highlights:
- Regional demand estimation and forecast
- Product Mix Matrix
- RD Analysis
- Cost-Benefit Analysis
- Pre-commodity pricing volatility
- Supply chain optimization analysis
- Technological updates analysis
- Raw Material Sourcing Strategy
- Competitive Analysis
- Mergers Acquisitions
- Location Quotients Analysis
- Carbon Footprint Analysis
- Patent Analysis
- Vendor Management
Competitive Landscape:
The latest study provides an insightful analysis of the broad competitive landscape of the global Syringes market, emphasizing the key market rivals and their company profiles. A wide array of strategic initiatives, such as new business deals, mergers acquisitions, collaborations, joint ventures, technological upgradation, and recent product launches, undertaken by these companies has been discussed in the report. The report analyzes various elements of the market’s competitive scenario, such as the regulatory standards and policies implemented across the industry over recent years. Our team of experts has leveraged several powerful analytical tools, such as Porter’s Five Forces analysis and SWOT analysis, to deliver a comprehensive overview of the global Syringes market and pinpoint the fundamental growth trends.
Key Companies Profiled 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
Regional Segmentation:
- North America
- Latin America
- Europe
- Middle East Africa
- Asia Pacific
Key Points Covered in This Section:
- Regional contribution
- Estimated revenue generation
- Vital data and information about the consumption rate in all the leading regional segments
- An expected rise in market share
- Forecast growth in the overall consumption rate
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
- Smart Syringes
- 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
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Report Highlights:
- 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.
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