Syringe Market

The global syringe market is estimated to be valued at USD 21.98 Bn in 2024 and is expected to exhibit a CAGR of 9.6% during the forecast period (2024-2031). The global syringe market has been witnessing steady growth over the past few decades. A syringe is an essential accessory used for injecting or extracting fluids from the human body. It consists of a hollow needle attached to a cylindrical tube and plunger within a barrel. Syringes find widespread application for delivering medications such as vaccines, insulin, and others during medical procedures. Changing demographics with rising aging population susceptible to chronic diseases like diabetes have significantly boosted the demand for syringes. Moreover, the growing prevalence of infectious diseases coupled with increasing immunization programs across the globe acts as a key growth driver for the market. However, stringent regulations concerning the reuse and disposal of syringes pose a challenge to market players. Ongoing technological innovations aimed at developing more user-friendly and cost-effective syringes are expected to provide new opportunities for market expansion in the coming years.

Market Dynamics:

The global syringe market is primarily driven by rising incidence of chronic and infectious diseases worldwide which has increased the demand for syringes from the healthcare industry. According to estimates, chronic diseases affect over 143 million Americans annually, accounting for more than 50% of the total healthcare spending in the country. Diabetes, in particular, has emerged as a major public health concern affecting over 30 million people in the U.S. alone. This is expected to significantly boost the demand for insulin syringes. Furthermore, growing emphasis on immunization and vaccination programs by governments and healthcare agencies across both developed and developing nations is favoring the market growth. However, stringent regulations governing the disposal and reuse of syringes acts as a major restraining factor for market players. On the other hand, ongoing R&D to develop more user-friendly and affordable syringes provides new opportunities for market expansion. Syringe manufacturers are designing products with improved ergonomics, safety features, and offerings prefilled with drugs to increase adoption of syringes.

Key Features of the Study:

• This report provides an in-depth analysis of the global syringe market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year.
• It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global syringe market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this study include ICU Medical, Inc., CODAN Companies, Catalent, Inc., BD, Hindustan Syringes & Medical Devices Ltd, Terumo Corporation, Schott AG, Cardinal Health, B. Braun SE, Gerresheimer AG, NIPRO, Gerresheimer AG, Dali Medical Devices, Zephyrus Innovations (Zephyrus), Stevanato Group, Xellia Pharmaceuticals, and Delta Med Group.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• The global syringe market caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global syringe market.

Detailed Segmentation-

• Usage:
  • Sterilizable/Reusable Syringes
  • Disposable Syringes
  • Prefilled Syringes
• Application:
  • Insulin Syringes
  • Botox
  • Osteoarthritis
  • Human Growth Hormone
  • Others
• End User:
  • Hospitals
  • Clinics
  • Homecare Settings
  • Others  
• Region:
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East
  • Africa
• Company Profiles:
  • ICU Medical, Inc.
  • CODAN Companies
  • Catalent, Inc.
  • BD
  • Hindustan Syringes & Medical Devices Ltd
  • Terumo Corporation
  • Schott AG
  • Cardinal Health
  • Braun SE
  • Gerresheimer AG
  • NIPRO
  • Gerresheimer AG
  • Dali Medical Devices
  • Zephyrus Innovations (Zephyrus)
  • Stevanato Group
  • Xellia Pharmaceuticals
  • Delta Med Group