SYRINGE MARKET ANALYSIS

Market Size and Trends

The syringe market is estimated to be valued at USD 21.98 Bn in 2024 and is expected to reach USD 41.06 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 9.6% from 2024 to 2031.

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The syringe market is expected to witness significant growth over the forecast period. The growth of the market is anticipated to be driven by the rising prevalence of chronic diseases such as diabetes, cancer, and cardiovascular diseases. Additionally, increasing cases of needle stick injuries are compelling key players to focus on developing advanced safety syringes with retractable and retractable needles, which is further expected to provide lucrative opportunities for the market players. The growing demand for prefilled syringes for home healthcare and advantage of administering accurate dosage is also projected to support the revenue generation in coming years. However, alternative modes of drug delivery and focus towards medical waste disposal are likely to hinder the market progression during the analysis timeframe.

Rise in Prevalence of Chronic Diseases

The prevalence of chronic diseases across the world has been on a steady rise over the past few decades. Chronic diseases, such as diabetes, cardiovascular diseases, cancer, etc. have assumed epidemic proportions globally. According to World Health Organization, chronic non-communicable diseases account for over 70% of all deaths worldwide. The rising burden of chronic illnesses can majorly be attributed to changing lifestyle habits such as lack of physical activity, stress, unhealthy diets rich in fat, sugar and processed foods. Increasing prevalence of chronic diseases such as diabetes, cancer, cardiovascular diseases, and others increases the demand for syringe and needles for diagnosis and treatment of diseases, which is expected to drive the growth of the global syringe market over the forecast period. For instance, an article published by John Wiley & Sons, Inc., a U.S.-based multinational publishing company, on January 12, 2023, stated that 1,958,310 new cancer cases and 609,820 cancer deaths are projected to occur in the U.S. in 2023. With more people being diagnosed with chronic diseases each year, the volumes of syringe utilization is expected to scale up enormously which will drive the global syringe market growth during the forecast period.

Market Concentration and Competitive Landscape

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Market players are focusing on launching technologically advanced syringes to offer customers an easy and safe administration of drugs, which is expected to fuel the global syringe market growth over the forecast period. For instance, on January 10, 2023, Sharps Technology, Inc., an innovative medical device and drug delivery company, announced the advancement of the company's specialized prefillable syringe system product line, which will be manufactured in collaboration with Nephron Pharmaceuticals, which manufactures generic respiratory medication products, at the Inject EZ facility in West Columbia, South Carolina, U.S. Sharps' specialized product pipeline and market strategy will include a wide range of sizes, silicon-free systems that address contamination issues in the broader healthcare market, dual chamber systems that improve drug shelf life while reducing unnecessary packaging, and customized solutions for systems serving the growing autoinjector segment. In September 2022, BD (Becton, Dickinson and Company), a leading global medical technology company, introduced a next-generation glass prefillable syringe (PFS) that sets a new standard in performance for vaccine PFS with new and tightened specifications for processability, cosmetics, contamination, and integrity. The new BD Effivax Glass Prefillable Syringe has been designed in collaboration with leading pharmaceutical companies to meet the complex and evolving needs of vaccine manufacturing.

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Increasing product recalls of syringe is a major factor limiting the growth of the global syringe market. For instance, in August 2021, Cardinal Health, a U.S.-based multinational health care services company, recalled about 267 million prefilled saline syringes due to the potential for the plunger to reintroduce air back into the syringe and caused serious adverse outcomes. The recall applies to all Monoject Flush Prefilled Saline Syringes manufactured from July 2019 to June 2021 and distributed between July 2019 and July 2021. Customers should immediately review their inventory, quarantine, and return all affected product.

Market Opportunities – Development of Prefilled Syringes for Self-administration

Increasing self-administration of medication is expected to offer lucrative growth opportunities for players in the global syringe market. Moreover, the advantage of self-administration is that it helps to prevent and treat symptoms and aliments without the need for a doctor. The patient experiences immediate relief. This relieves the strain on medical services in areas where they are scarce and insufficient. Key players in the market are focusing on the launch of novel self-administered prefilled syringes, which is expected to drive the market growth over the forecast period. For instance, in February 2020, Fresenius Kabi, a global healthcare company, launched the Glucagon Emergency Kit, which includes Glucagon for Injection, 1 mg, and a prefilled glass syringe with 1 mL of Sterile Water for Injection, USP (United States Pharmacopeia).

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The usage segment includes sterilizable/reusable syringes, disposable syringes, and prefilled syringes. The disposable syringes subsegment is expected to hold 52.8% of the market share in 2024 owing to their convenience and ease of use. Being single-use products, disposable syringes eliminate the need for sterilization between patients, saving medical professionals significant time and effort. This makes disposable syringes particularly well-suited for administering medications and injections in busy settings like hospitals, clinics, and doctors' offices where throughput is important. By avoiding the sterilization process, disposable syringes also reduce the risk of contamination compared to reusable needles. For patients, disposable syringes provide assurance that each injection is being administered with a new, sterile needle rather than one that may not have been adequately disinfected between uses. This boosts patient confidence and acceptance of treatment. The convenience of throwaway syringes has also expanded their use beyond clinical environments into home healthcare settings. As more treatments shift to outpatient and self-administered care, the accessibility and convenience of disposable syringes has driven strong demand growth.

Insights, By Application: Growing Prevalence of Chronic Diseases Fuels Insulin Syringe Usage

The application segment includes insulin syringes, botox, osteoarthritis, human growth hormone, and others. The insulin syringes subsegment is expected to hold 36.2% of the market share due to the large and growing diabetes patient population worldwide. Diabetes prevalence has increased dramatically in recent decades driven by aging populations and rising rates of obesity and physical inactivity. It is estimated that over 400 million people currently have diabetes globally and this figure is expected to continue rising substantially. As a chronic, lifelong condition, diabetes ensures continuous long-term demand for insulin delivery. Insulin syringes provide an affordable and effective means of administering the medication. Advancements in syringe designs, like more precise dosage controls and thinner needles to reduce pain, have also enhanced the patient experience and compliance with insulin therapy. Meanwhile, the self-administered nature of insulin injections enables greater independence and control for diabetics to manage their condition conveniently as part of their daily routines. This sustainable patient base and medical necessity underpin insulin syringes' dominant position in the syringe applications market.

Insights, End User: Hospitals Lead Syringe Consumption Due to Scale and Complexity of Care

The end user segment includes hospitals, clinics, homecare settings, and others. The hospital subsegment is expected to hold 43.3% of the market share in 2024 owing to the scale and complexity of healthcare delivered within these settings. As institutions managing large inpatient populations as well as major outpatient services, hospitals require vast numbers of syringes on a daily basis to administer intravenous medications, oral medications via feeding tubes, injections for various procedures, and more. Even minor medical incidents or clinical tests can involve multiple syringes uses. The diversity of hospital departments, from emergency rooms treating trauma cases to specialty wards caring for long-term conditions, means syringe needs span both acute and chronic care. As healthcare grows more specialized with advancing medical technologies, hospitals also handle more complex cases than other care sites, necessitating more intensive syringe-based interventions and monitoring of drug therapies. While clinics, nursing homes and individual physicians certainly drive syringe consumption, none match the sheer volume and variety of syringe applications in hospital environments. This makes hospitals the consistent cornerstone of syringe market demand.

Regional Insights

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North America remains the dominant region in the global syringe market and is anticipated to hold 39.3% of the market share in 2024. North America has dominated the global syringe market for many years owing to several factors. With a highly developed healthcare infrastructure and large healthcare expenditure, the region sees wide adoption of syringes across therapeutics areas. Various government initiatives to prevent needle stick injuries and spread of diseases through syringe reuse have propelled the demand for advanced syringes such as safety syringes. Stringent regulations pertaining to healthcare associated infections have compelled leading players in North America to invest heavily in R&D to develop innovative safety syringes. As a result, the region is home to many global giants that have strengthened their market position through continuous new product launches. The presence of these global companies along with steady demand from end-use sectors like healthcare facilities, pharmaceuticals, and clinical research organizations have cemented North America's position as the largest syringe market.

The Asia Pacific region has emerged as the fastest growing market for syringes in the recent years. Rapid economic development, growing medical tourism, and focus of leading players to tap opportunities in emerging countries have bolstered the regional growth. Rising healthcare expenditure, increasing patient population afflicted with chronic diseases, and rising awareness about safety syringes have highly contributed to the market's expansion.

Market Report Scope

Key Developments

• On March 7, 2024, Hindustan Syringes & Medical Devices Ltd, a medical device company, launched dispojeket single use syringes to reduce the prevalence of accidental needle stick injuries (NSIs) among health workers, reduction of infections
• In September 2022, BD, a medical technology company, announced that it had launched prefillable syringes that set a new standard in performance for vaccine prefillable syringes with new and tightened specifications for processability, cosmetics, contamination, and integrity
• In January 2022, ICU Medical Inc., a medical technology company, announced that it had completed its acquisition of Smiths Medical, which manufactures medical devices, from Smiths Group plc., a medical device company. The Smiths Medical business includes syringe and ambulatory infusion devices, vascular access, and vital care products.
• In April 2021, Hindustan Syringes & Medical Devices Ltd, a medical device company, announced that it had invested US$ 1,000 million to expand its syringe product portfolio. This investment accelerates the syringe production capacity from 2.5 billion syringes to over 3 billion during the ongoing COVID-19 vaccination drive in India.

*Definition: The syringe market includes the manufacturing and distribution of syringes used for the injection of medications into or extraction of fluids from the human body. Syringes are a necessary medical product used by healthcare professionals, patients and caregivers for administering injections, immunizations, blood sampling, and other medical procedures. Key players in this market produce a variety of syringe types in different sizes, materials and designs to meet the needs of different medical applications, from basic disposable syringes to more advanced pre-filled syringes.

Market Segmentation

•  Usage Insights (Revenue, USD Bn, 2019 - 2031)
  • Sterilizable/Reusable Syringes
  • Disposable Syringes
  • Prefilled Syringes
•  Application Insights (Revenue, USD Bn, 2019 - 2031)
  • Insulin Syringes
  • Botox
  • Osteoarthritis
  • Human Growth Hormone
  • Others
•  End User Insights (Revenue, USD Bn, 2019 - 2031)
  • Hospitals
  • Clinics
  • Homecare Settings
  • Others
• Regional Insights (Revenue, USD Bn, 2019 - 2031)
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    • GCC Countries
    • Israel
    • Rest of Middle East
  • Africa
    • South Africa
    • North Africa
    • Central Africa
• Key Players Insights
  • 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
  • Delta Med Group