Market Research Future (MRFR) has published a cooked research report on the “Syringes Market” that contains information from 2018 to 2032. The Syringes Market is estimated to register a CAGR of 8.90% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global Syringes Market— Becton, Dickinson, and Company (U.S.), Terumo Corporation (Japan), Medtronic plc (Ireland), Smiths Medical (U.S.), B. Braun Medical Inc. (U.S.), NIPRO Corporation (Japan), Hindustan Syringes & Medical Devices Limited (India), Gerresheimer AG (Germany), SCHOTT AG (Germany), and CODAN Medizinische Geräte GmbH & Co KG (Germany).
Syringes Market Highlights
The global Syringes Market is accounted to register a CAGR of 8.90% during the forecast period and is estimated to reach USD 38.98 billion by 2032.
The escalating demand for syringes is driven by the burgeoning prevalence of chronic diseases, heightened requests for vaccines and immunization, technological advancements, and the expanding adoption of injectable drugs.
Segment Analysis
The global Syringes Market has been segmented based on Usability, Material, and Type.
Based on Usability, the market is segmented into Sterilizable/reusable (hypodermic, oral) & Disposable Syringes (conventional, safe, prefilled). The Disposable Syringes segment was attributed to holding the largest market share in 2022. The dominant share of this category can be ascribed to the rising preference for injectables as a method of drug administration, an increasing aging population, elevated infection risks linked to reusable syringes, and a growing inclination towards self-administration.
Based on the Material, the Syringes Market has been segmented into Glass Syringes and Plastic Syringes. The Plastic Syringes segment was expected to hold the largest market share in 2022. The plastic syringes segment is anticipated to experience growth due to the increasing inclination towards disposable and cost-effective syringes, elevated utilization of plastic syringes in vaccination initiatives, and the thriving plastic syringes industry. Additionally, the advantages of plastic syringes, including high-impact resistance and user-friendly characteristics, contribute to their suitability for widespread adoption.
Based on the Type, the Syringes Market has been segmented into General Syringes and Specialized Syringes (Insulin Syringes, Tuberculin Syringes, Allergy Syringes, and Other Syringes). The growing adoption of specialized syringes is attributed to their ability to precisely deliver drugs by either overfilling or underfilling, a crucial factor contributing to their popularity among users. Furthermore, factors like the expanding use of injectables for drug delivery and a rising preference for self-administration are significant drivers propelling the growth of the specialized syringe market globally.
Regional Analysis
The global Syringes Market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of the US and Canada. The Europe Syringes Market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The syringe market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Syringes Market comprises of Middle East, Africa, and Latin America.
The largest market share for the Syringes Market was maintained by the North American regional sector. The increasing sales of syringes nationwide can be attributed to several factors, including a rise in chronic and infectious diseases, the growing trend of self-administered drugs, the availability of standard syringes, the presence of leading syringe manufacturers, and the expansion of markets such as prefilled syringes, home healthcare, and insulin syringes. The upward trajectory of the syringe market is significantly driven by the increasing prevalence of chronic and infectious diseases like diabetes and flu. According to the National Center for Chronic Disease Prevention and Health Promotion (NCCDPHP) at the CDC, 6 out of 10 adults in the United States are affected by chronic diseases. This has led to a substantial financial commitment from individuals for essential medical needs such as insulin injections, flu vaccines, and other related healthcare expenditures.
Moreover, the Europe market has been persistently growing over the forecast period. The prevalence of chronic diseases, encompassing urological disorders, cancer, stroke, cardiovascular disorders, chronic renal disease, neurovascular diseases, and others, is on the rise. Non-communicable diseases (NCDs) contribute to 80% of the disease burden in European Union (EU) countries and stand as the leading cause of preventable premature deaths. Factors such as high blood pressure, obesity, smoking, diabetes, sedentary lifestyles, and excessive alcohol consumption expose a significant portion of the population to the risk of developing chronic diseases. To illustrate, the 2021 report from the European Chronic Disease Alliance (ECDA) provides statistical data on the prevalence of specific conditions. Annually, cardiovascular disease (CVD) claims the lives of 3.9 million individuals in Europe and over 1.8 million in the EU.
The rising prevalence of diabetes in Asia Pacific is expected to drive the demand for insulin syringes. For example, according to the International Diabetes Federation (IDF), India reported 72,946,400 cases of diabetes in 2017, while Sri Lanka reported 1,198,100 cases in the same year. The substantial occurrence of diabetes is projected to contribute significantly to market growth in the foreseeable period. Moreover, the Syringes Market is witnessing growth in the Asia Pacific region, driven by a continuous focus on product introductions by market participants. For instance, Sunshine Guojian Pharmaceutical, a subsidiary of 3SBio, announced in August 2019 that Yisaipu, a biosimilar of Enbrel (etanercept), had received approval in China as a pre-filled syringe for the treatment of ankylosing spondylitis. This indicates a trend of ongoing market expansion in the region.
Furthermore, the rest of the world's Syringes Market is divided into the Middle East, Africa, and Latin America. The increasing prevalence of diabetes is attributed to unhealthy lifestyles and various risk factors, including obesity, genetic predisposition, low awareness levels, and the high cost of healthcare. Notably, there is a rising number of individuals with diabetes in the Middle East. Kuwait, Saudi Arabia, and Bahrain have the highest global prevalence of diabetes. As of February 4, 2022, among selected Latin American countries, Brazil had the highest number of adults with diabetes, surpassing 15 million adults.
Key Findings of the Study
- The global Syringes Market is expected to reach USD 38.98 billion by 2032, at a CAGR of 8.90% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market due to the increasing urbanization, favorable regulatory policies for approval of new injectables, technical innovations, and the rising number of geriatric populations in this region.
- Based on Material, the Plastic Syringes segment was attributed to holding the largest market in 2022, with an approximate market share of 55–60%.
- Dickinson, and Company (U.S.), Terumo Corporation (Japan), Medtronic plc (Ireland), Smiths Medical (U.S.), B. Braun Medical Inc. (U.S.), NIPRO Corporation (Japan), Hindustan Syringes & Medical Devices Limited (India), Gerresheimer AG (Germany), SCHOTT AG (Germany), and CODAN Medizinische Geräte GmbH & Co KG (Germany).
Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Syringes Market Share
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Base Year | 2019 |
Companies Covered | 15 |
Pages | 128 |
Certified Global Research Member
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.