Syringes Market Size To Hit US$ 27.45 Billion Growth By 2027, With a CAGR of 8.70%, Says IMARC Group

March 10 02:55 2023
Syringes Market Size To Hit US$ 27.45 Billion Growth By 2027, With a CAGR of 8.70%, Says IMARC Group
The market is primarily driven by the recent outbreak of the coronavirus disease (COVID-19) pandemic, as governments of numerous countries are promoting fast and safe vaccination to reduce contamination.

The latest report published by IMARC Group, titled “Syringes Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the syringes market trends. The report also includes competitor and regional analysis, and contemporary advancements in the market.

Market Overview:

The global syringes market size reached US$ 16.51 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 27.45 Billion by 2027, exhibiting a CAGR of 8.70% during 2022-2027.

A syringe is a medical device used to withdraw fluids from the body or cavities and inject medication intravenously (IV) or intramuscularly into the bloodstream. It comprises a needle attached to a hollow cylinder fitted with a sliding plunger in which the upward movement of the plunger withdraws fluid, and the downward movement of the plunger injects fluid. It also helps to handle numerous medical conditions, such as infertility, psoriasis, allergies, arthritis, cancer, migraines, human immunodeficiency virus (HIV), multiple sclerosis, diabetes, and hepatitis. It is available in various shapes and sizes, including general, specialized, and disposable syringes. As a result, syringes are widely utilized across research laboratories, drug manufacturing, clinical research laboratories, and hospitals.

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Market Trends:

The market is primarily driven by the recent outbreak of the coronavirus disease (COVID-19) pandemic, as governments of numerous countries are promoting fast and safe vaccination to reduce contamination. In addition, the growing prevalence of chronic diseases, such as diabetes, autoimmune diseases, and hospital-acquired infection (HAI), is escalating the demand for disposable syringes that are ready-to-use and cost-effective. Moreover, the increasing number of people undergoing surgical procedures is escalating the usage of single-use syringes to provide anesthetics.

This, coupled with various initiatives undertaken by heartcare agencies, such as installing sharp containers in public places to manage the increased number of used syringes and facilitate safe injection practices, is providing a positive thrust to the market growth. Furthermore, manufacturers are adopting advanced manufacturing processes and quality assurance procedures to develop syringes with superior precision and accuracy, which is also creating a positive market outlook across the globe.

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Syringes Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape with Key Players:

The competitive landscape of the syringes market has been studied in the report with the detailed profiles of the key players operating in the market.

Major Players Covered:

  • B. Braun Melsungen AG
  • Baxter International Inc.(NYSE: BAX)
  • Becton Dickinson and Company
  • Nipro Corporation(TYO: 8086)
  • Pfizer Inc.
  • Retractable Technologies Inc.
  • Cardinal Health Inc.
  • Gerresheimer AG(ETR: GXI)
  • Hindustan Syringes & Medical Devices Ltd.
  • Schott AG
  • Smiths Group plc
  • Terumo Corporation
  • Thomas Scientific LLC

 

Key Market Segmentation:

The report has segmented the market on the basis of product, material, usage, distribution channel, end user and region.

Breakup by Product:

  • General Syringes
  • Specialized Syringes
  • Insulin Syringes
  • Tuberculin Syringes
  • Allergy Syringes
  • Others

Breakup by Material:

  • Glass Syringes
  • Polymer Syringes

Breakup by Usage:

  • Disposable Syringes
  • Conventional Syringes
  • Safety Syringes
  • Prefilled Syringes
  • Reusable Syringes

Breakup by Distribution Channel:

  • Offline
  • Online

Breakup by End User:

  • Hospitals and Clinics
  • Diagnostic Centers
  • Speciality Centers
  • Others

Breakup by Geography:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • Middle East and Africa

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Key highlights of the report:

  • Market Performance (2016-2021)
  • Market Outlook (2022-2027)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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About IMARC Group:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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