The global syringes and needles market size was USD 21.70 Billion in 2021 and is expected to register a steady revenue CAGR of 6.5% during the forecast period. Key factors driving global market revenue growth are technological advancements in syringes and needles, increasing prevalence of various chronic and infectious diseases, rising demand for disposable syringes, and high adoption of injectable drugs.
A syringe is a simple reciprocating pump that consists of a plunger fitting tightly in a cylindrical tube. The plunger can be pulled and pushed linearly allowing the syringe to take in and eject liquid through a needle. The tip of the syringe provides a point of attachment for a needle. Different types of syringes are commonly used in the medical field for administrating injections during surgeries, blood collection, and vaccinations. Various types of syringes for different organs and functions are available in the market owing to rapid advancements in syringes technology. According to World Health Organization, around 90% of the syringes are used for drug delivery, 5% for vaccinations, and around 5% for blood transfusion.
Request a Sample@ https://www.qyresearchmedical.com/sample/119154
Over the recent years, there has been a rapid increase in the demand for various syringes and needles owing to rising incidence of chronic diseases such as cancer, diabetes, respiratory diseases, and cardiovascular disorders. According to a report presented by World Health Organization, around 41 million across the globe die due to chronic illnesses. These diseases are mainly caused due to sedentary lifestyles, unhealthy eating habits, smoking, and excess consumption of alcohol and tobacco. This is leading towards increasing number of diagnostic testing, surgeries, and treatments. One of the key factors driving market revenue growth is the high demand for disposable syringes owing to rising risks of contamination and increasing need for preventing infections acquired from hospitals and clinics. In addition, increasing awareness about early diagnosis of diseases, increasing need for organ transplantation, and increasing demand for syringes and needles amidst the ongoing COVID-19 pandemic for vaccination and tests are factors expected to fuel market growth during the forecast period. In addition, governments and many private sectors are investing in increasing production of injectable drugs, and various leading market players are focusing on developing enhanced and safety syringes and needles. This is also expected to drive market revenue growth going ahead.
Drivers: Increasing geriatric population, high focus on increasing production of syringes and needles during the coronavirus outbreak
Syringes and needles are rapidly gaining traction over the recent past owing to rising prevalence of chronic diseases, increasing elderly population across the globe, and increasing number of clinical and diagnostic tests. Other factors such as rising number of clinics, and hospitals, increasing vaccination drives across the globe, and increasing blood donation camps are fueling market growth. The demand for needles and syringes is also increasing owing to increasing prevalence of diabetes and high adoption of home care settings. In addition, improving healthcare infrastructure, increasing healthcare expenditure and availability of advanced types of syringes and needles in many developed and developing countries are expected to boost market growth. Rapid increase in the production of syringes and needles amidst the ongoing pandemic is another key factor expected to boost global market growth in the coming years.
Restraints: Risk associated with needlestick injuries and infections and increasing focus on developing alternative drug delivery systems
Though various types of needles and syringes are routinely used in hospitals, clinics, and diagnostic centers, there are high chances of acquiring infections and diseases owing to the overuse of syringes and needles. Increasing concerns related to needlestick injuries for people who work with hypodermic syringes and other needle systems while disassembling, and disposing of needles is another key factor expected to hamper overall market growth between 2021 and 2028. In addition, high cost of safety syringes, high demand for needle-free devices, and rising focus on developing alternative drug delivery systems are also expected to hamper market growth.
Product Type Outlook:
Based on product, the global market is segmented into blood collection, drug delivery, biopsy, dental, ophthalmic, catheter, epidural, anesthesia, and others. Among these, the blood collection segment is expected to account for significant revenue share over the forecast period owing to factors such as increasing prevalence of types of cancer, bloodborne diseases, diabetes, increasing number of surgeries, rising need for blood transfusion in case of emergencies and organ transplantations and improving healthcare infrastructure. In addition, high demand for disposable needles and syringes during blood donation and increasing number of diagnostic tests across the globe are driving revenue growth of the segment.
Material Type Outlook:
The syringes and needles market is segmented into reusable and disposable based on material type. The disposable syringes and needles segment is expected to account for significantly larger revenue share over the forecast period owing to increasing prevalence of various chronic diseases and infections, increasing incidence of needlestick injuries, and blood-borne transmission diseases due to reused syringes, and high usage of disposable syringes for treatments and surgeries. Other factors such as availability of injectable drugs and spikes, high production of disposable syringes and needles due to increasing COVID-19 vaccinations across the globe are expected to drive revenue growth of the segment.
Based on application, the diagnostic, general surgery, orthopedics, respiratory, dental, cardiovascular, and neurology. The diagnostic segment is expected to account for significant revenue share over the forecast period owing to increasing prevalence of chronic diseases such as cancer, diabetes, cardiovascular diseases, increasing awareness about early diagnosis and treatment, and high demand for disposable and reusable syringes. Other factors such as increasing healthcare spending and availability of advanced injectables compatible with latest sampling and diagnostic instruments are driving revenue growth of the segment.
End Use Outlook:
Based on end use, the global market is segmented into hospitals & clinics, diagnostic centers, home care, and others. Among these, the hospitals & clinics segment is expected to account for largest revenue share between 2021 and 2030 owing to increasing prevalence of chronic diseases and accidents, increasing blood transfusions, rising number of surgeries, and improving healthcare infrastructure. In addition, increasing geriatric population, rising number of vaccination drives in hospitals, availability of skilled practitioners in clinics and hospitals, and availability of latest injectable devices are driving revenue growth of the segment.
Geographically, North America is expected to account for largest revenue share in the global market over the forecast period owing to increasing prevalence of chronic diseases such as cancer, diabetes, increasing cases of accidents and surgical processes, and technological advancements in needles and syringes. Presence of well-developed healthcare facilities, increasing demand for vaccines and immunization drives, and high adoption of injectable drugs are other factors fueling market growth in North America. In addition, presence of leading manufacturers, increasing investments for developing enhanced syringes, and rising number of product approvals are other key factors fueling North America’s market growth.
The syringes and needles market in Asia Pacific is expected to register fastest revenue CAGR of 8% during the forecast period owing to increasing healthcare expenditure, improving healthcare facilities and research centers, high immunization rate, and rising incidence of chronic and lifestyle associated diseases. Other factors driving Asia Pacific market revenue growth are increasing geriatric population, rising number of accidents, availability of advanced products, favorable regulatory policies for approval of new injectables, and increasing investments in research and development activities.
The global syringes and needles market is extremely competitive and comprises of key players at global and regional levels. Major players in the market are focused on product development and are adopting various strategies such as mergers and acquisitions, partnerships, license agreements, joint ventures, and collaborations to expand their product base and strengthen their market. DeRoyal, Albert David Ltd, B. Braun Melsungen AG, Terumo Corporation, West Pharmaceutical Services, Inc., Connecticut Hypodermics Inc., Insulet, Septodont, Medtronic plc, Becton Dickinson, Schott AG, Cardinal Health Inc., Smiths Medical, Covidien Plc, Thermo Fisher Scientific, Hamilton Company, Merck, Novo Nordisk A/s, and Nipro Medical Corporation are major companies profiled in the global syringes and needles market report.
- In July 2020, Smith Medical announced a public-private partnership with BARDA and JPEO-CBRND to support US government’s COVID-19 vaccination program. This partnership increases hypodermic needle and syringe production capacity at Smiths Medical facility in Keene, New Hampshire. The partnership is also expected to increase Smith Medical’s production capacity by 125 million units per year.
In April 2021, West Pharmaceutical Services, Inc., partnered with Venus Remedies Ltd., to launch NovaGuard SA Pro safety system to protect healthcare professionals and patients from accidental needlestick injuries. NovaGuard SA Pro safety system is a single use device for prefilled ISO standard 1 ml staked needle syringes. The system is designed to prevent pre-activation during handling and includes tamper-resistant functionality.
In October 2021, Becton Dickinson and Company and Aptar Pharma launched a next generation plunger stopper, BD SCF PremiumCoat Plunger Stopperade to limit drug component interactions and support injection of biologics in subcutaneous tissue. The product is designed to offer better functional performance and is verified through BD Viosioguard 100% camera inspection to reduce risk of contamination.
Segments Covered in the report
This report offers historical data and forecasts revenue growth at a global, regional, and country level, and provides analysis of the market trends in each of the sub-segments from 2021 to 2030. For the purpose of this report, has segmented the global syringes and needles market on the basis of product type, material type, application, end use, and region:
Syringes and Needles Market Report Scope
Segments covered By Product Type Outlook , Material Type Outlook, Application Outlook ,End Use Outlook, Regional Outlook
By Product Type Outlook
By Material Type Outlook
By Application Outlook
By End Use Outlook
Hospitals & Clinics
Middle East & Africa
Buy quantitative research Report at discounted price – USD 1500 https://www.qyresearchmedical.com/report/checkout/119154/1500
You can place an order or ask any questions, please feel free to contact email@example.com | +1 9197 992 333
QYResearch Medical has more than 4000 global well-known customers, covering more than 30 industries including pharmaceuticals, medical technology & devices, healthcare services etc. Company services cover one-stop solution as Data-Analysis-Suggestion-Consulting Implementation. Research regions cover North America, Europe, Latin America, Middle East and Africa, Asia- Pacific.
For Latest Update Follow Us: