Global Demand For Syringes Experienced Significant Expansion, Registering A CAGR Of Over 5% By 2031

Healthcare

Syringes Market size is done based on a triangulation methodology that is primarily based on experimental modelling approaches such as patient-level data or disease epidemiology for any key indications , number of procedures and install base analysis for any equipment to obtain precise market estimations  for the base year as well as in historic data analysis. Bottom-up approach is always used to obtain Syringes insightful data for the specific country/regions.

The country specific data is again analyzed to derive data at a global level. Specific factors/parameters are considered related to the individual Syringes market and quantified with insightful rationale.

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Key Takeaways from Market Study

  • Over 4 out of 5 syringes sold in the global market will be disposable through 2031
  • Hospitals to generate 66% of global syringes market demand through 2031
  • Demand for reusable syringes to soar at over 6% CAGR during the forecast period
  • Sales of specialized syringes to account for 3/10th of the global market revenue
  • Asia to emerge a significant market, bringing in US$ 5.7 Bn by 2022-end.
  • U.S accounted for over US$ 2.5 Bn in revenue from syringes sales across 2020
  • 99.4% of the global syringes market revenues will be arising from sales of polymer syringes

“Mushrooming demand for administering quick and effective treatment for a multitude of chronic ailments is spurring adoption of injection-based therapies, providing immense traction to sales of syringes in coming years,” comments the Fact.MR analyst.

Competitive Landscape

Some of the key players include Becton, Dickinson and Company, B. Braun Melsungen AG, Gerresheimer AG, Hindustan Syringes & Medical Devices Limited, Terumo Corporation, Nipro Corporation, Schott AG, Medtronic PLC, Smiths Group Plc., and Codan Medizinische Geräte GmbH & Co Kg., among others.

Leading market players are focusing their efforts on developing innovative products to strengthen their position in the global market and are adopting strategies like acquisitions and mergers.

  • In January 2021, Aurobindo Pharma Limited announced that it has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Naloxone HCl Injection Prefilled Syringe 2 mg/2 mL.
  • In April 2021, Nipro Pharmapackaging announced the launch of CURACASE™ needles. Each CURACASE needle is individually packed in a compact and smartly designed hard-plastic packaging that uses minimal space in secondary packaging when by-packed. Its smart design enables compatibility with feeders and automated pick-and-place systems.

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