The global syringes market size is expected to reach USD 25.7 billion by 2026, expanding at a CAGR of 8.5%, according to a new report by Grand View Research, Inc. The rising prevalence of chronic diseases, increasing number of surgical procedures, growing adoption of injectable drugs, favorable initiatives taken by government organizations, and increasing geriatric population across the globe are the key driving factors for the market.
Chronic inflammatory diseases such as Crohn’s disease and rheumatoid arthritis can be treated through self-administration of drugs. For instance, as per the U.S. Department of Health and Human Services, in 2015, approximately 3.0 million people were diagnosed with either Crohn’s disease or ulcerative colitis, which was a huge increase from 2.0 million people in 1999. In addition, as per the Arthritis Foundation, arthritis is the major cause of disability in the U.S. It also reported that in 2019, approximately 54.0 million adults have been diagnosed with arthritis by the doctors, which is anticipated to increase to more than 78.0 million by 2040.
North America accounted for highest syringes market share in 2018 attributed to advent of technologically advanced medical devices and growing prevalence of chronic diseases. In addition, presence of major players in the region contributed to regional growth. Prominent players operating the region include Thomas Scientific; Smiths Medical; BD; Cardinal Health; McKesson Medical-Surgical Inc.; and B. Braun Melsungen AG.
Moreover, key companies such as BD and Smiths Medical, are launching products specifically for chronic disease treatment to strengthen their foothold in the industry. For instance, BD offers Hypak SCF PRTC glass pre-fillable syringe, used in the treatment of chronic diseases. Such factors are anticipated to boost the industry growth over the forecast period.
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Further key findings from the report suggest:
- By product, the general segment held the largest market share in 2018 as they are commonly used for various conditions such as tetanus and vaccination
- Disposable needles held the largest market share in 2018 and are anticipated to witness the fastest growth over the forecast period as they reduce the risk of contamination, significantly
- The hospital segment held the largest market share owing to the increasing number of chronic disease patients and rising number of surgeries
- The Asia Pacific market is expected to witness the fastest growth over the forecast period owing to the rising demand for vaccines and immunization in this region
- Prominent players in the syringes market are BD; Smiths Medical; B. Braun Melsungen AG; NIPRO Medical Corporation; Hindustan Syringes and Medical Devices Ltd.; Gerresheimer AG; SCHOTT AG; CODAN Medizinische Geräte GmbH and Co KG; McKesson Medical-Surgical Inc.; and Cardinal Health. The key players are adopting various strategies such as product launch, partnership, and merger and acquisition to strengthen their foothold in the market.
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Grand View Research has segmented the global syringes market on the basis of product, usage, end use, and region:
Syringes Product Outlook (Revenue, USD Million, 2015 – 2026)
- General Syringes
- Specialized Syringes
- Tuberculin (TB)
- Smart Syringes
- Active Safety
- Passive Safety
Syringes Usage Outlook (Revenue, USD Million, 2015 – 2026)
- Reusable Syringes
- Disposable Syringes
Syringes End-use Outlook (Revenue, USD Million, 2015 – 2026)
- Blood Collection Centers
- Diabetic Care Centers
Syringes Regional Outlook (Revenue, USD Million, 2015 – 2026)
- North America
- Asia Pacific
- Latin America
- South Africa
- Saudi Arabia
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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