Syringes Market Analysis
Syringes Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026
Syringes are medical devices used to inject fluid or withdraw fluid from the body. A medical syringe consists of a needle attached to a hollow cylinder that is fitted with a sliding plunger. They are mainly made from plastic and disposables and are majorly used in the healthcare practices. High-end syringes such as microliter syringes are made from glass material. Increasing utilization of medical test for diagnosis of diseases that requires intravenous modes of injection using syringes is major factor driving growth of the syringes market. According to National Health Council, around 75% of the total healthcare costs are a result of chronic diseases reflecting an increasing demand for proper healthcare requirements in terms of quality, safety, and sterility of medical devices. According to the same source, in 2014, around 133 million people were affected with chronic diseases in the U.S.
Syringes Market Taxonomy
On the basis of usability, the global syringes market is segmented into:
On the basis of type, the global syringes market is segmented into:
On the basis of material, the global syringes market is segmented into:
Disposable syringes segment accounted for largest share in market, owing to ability of providing high safety and effective prevention of infection as compared to reusable syringes. Easy availability and cost-effective rate of these syringes are major factor driving growth of this segment in the market. Specialized syringes segment is expected to gain significant traction in market, owing to accurate delivery of the fluid and better performance as compared to general syringes.
North America is expected to dominate the global syringes market, owing to government initiatives and well established healthcare infrastructure
On the basis of geography, the global syringes market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is holding the dominant position in market, followed by Europe, owing to availability of advanced medical facilities and healthcare centers in the U.S. Increasing government initiatives to improve quality of healthcare in the region is also fueling growth of the market in North America. For instance, the Needle stick Safety and Prevention Act in the U.S., provides regulatory guidelines to help manufacturers improve safety of syringes. Syringes market in Asia Pacific region is expected to grow at significant rate over the forecast period, owing to technological implementation for producing better and cheaper syringes and increasing awareness regarding safe use of syringes in medical procedures.
Increasing prevalence of chronic diseases is expected to be the major factor driving growth of the global syringes market
Increasing prevalence of chronic diseases such as diabetes and cancer, which require continuous diagnosis using various medical test which requires use of syringes is major factor boosting growth of the market. For instance, according to World Health Organization (WHO) in 2014, around 422 million people were suffering from diabetes worldwide. Many of these patients were advised regular intravenous administration of insulin, which propelled the demand for use syringes in turn fueling growth of the global syringes market. Furthermore, increasing health hazards and infectious diseases are creating conducive environment for growth of syringes market. However, advancement in technologies such as diffusion pumps and needle- free IV connectors, which reduces the need of injecting fluid through syringe are expected to restrain growth of the market over the forecast period.
Major players operating in the global syringes market include Treumo Corporation, Medtronic Plc, Becton, Dickinson and Company, B. Braun Medical Inc., Smiths Medical, Hindustan Syringes and Medical Devices Limited, NIPRO Corporation, Hamilton, SCHOTT AG, Gerresheimer AG, and Codan Medizinische Gerate GmbH & Co KG.