Increasing prevalence of chronic diseases, rising demand for syringes and needles for therapy and drug delivery, and technological advancements are key factors fueling global market growth
The global syringes and needles market is expected to reach USD 36.13 Billion in 2028 and register a revenue CAGR of 6.5% over the forecast period, according to latest report published by Reports and Data. Key factors driving global market revenue growth are increasing manufacturing of disposable needles and syringes due to increasing COVID-19 vaccination across the globe, increasing blood transfusions, and increasing number of diagnostic tests.
A syringe is medical device used to inject or withdraw fluid from the body. It consists of a needle attached to a hollow cylinder fitted with a sliding plunger. The piston (plunger) can be pulled or pushed inside the tube, which allows syringe to draw in or expel fluids or gases. These syringes are commonly used for administrating injections, therapeutic drugs, vaccines, or for collecting blood. Key factors responsible for surging demand of syringes are rising cases of chronic illnesses, increasing need for organ transplantations, and rising number of vaccination drives. Factors such as increasing demand for home care settings, increasing demand for safety syringes and needles, and rising number of surgeries are fueling global market growth. In addition, increasing elderly population, increasing demand for disposable syringes in hospitals, diagnostic centers, and clinics, and increasing investments for developing enhanced syringes and needles are other factors driving revenue growth of the global market.
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The report provides comprehensive assessment of the market covering key elements such as revenue estimations, cost analysis, import/export, production and consumption trends, CAGR, gross margin, and supply & demand patterns. It also sheds light on recent technological developments, product advancements, and research and development activities in the region.
The report examines the key players operating in the market along with their market position, market share, revenue, gross margin, and business strategies. SWOT analysis and Porter’s Five Forces Analysis are used to examine and assess the market and its players. It also covers recent mergers and acquisitions, joint ventures, collaborations, agreements, partnerships, and product launches and brand promotions.
Key companies profiled in the report include:
DeRoyal, Albert David Ltd, B. Braun Melsungen AG, Terumo Corporation, Connecticut Hypodermics Inc., Insulet, Septodont, Medtronic plc, Becton Dickinson, Schott AG, Cardinal Health Inc., Smiths Medical, Covidien Plc, Thermo Fisher Scientific, Hamilton Company, Merck, Novo Nordisk A/s, and Nipro Medical Corporation
Market Segmentation by Types:
Product Type Outlook (Revenue, USD Billion, 2018-2028)
- Blood Collection
- Drug Delivery
- Biopsy
- Dental
- Ophthalmic
- Catheter
- Epidural
- Anesthesia
- Others
Material Type Outlook (Revenue, USD Billion, 2018-2028)
- Reusable
- Disposable
Application Outlook (Revenue, USD Billion, 2018-2028)
- Diagnostic
- General Surgery
- Orthopedics
- Respiratory
- Dental
- Cardiovascular
- Neurology
End Use Outlook (Revenue, USD Billion, 2018-2028)
- Hospitals & Clinics
- Diagnostic Centers
- Home Care
- Others
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Regional analysis covers in-depth analysis of analysis of the revenue, market share, and growth rate of the global Syringes and Needles market in each region for the forecast period of 2021-2028. The report covers production and consumption rate, current and emerging trends, import/export, supply and demand, and presence of key players in each region.
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- Italy
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Rest of MEA
Some key highlights of the report:
- Based on type, the biopsy segment is expected to register rapid revenue CAGR over the forecast period to increasing incidence of types of cancer and rare blood diseases, increasing awareness about early diagnosis and biopsy tests, and availability of advanced and safe biopsy needles.
- Based on material, the disposable segment is expected to account for significantly larger revenue share between 2021 and 2028 owing to high prevalence of chronic diseases, increasing demand for disposable syringes amidst coronavirus vaccinations, high risk of infection with reusable syringes and needles, rising demand for injectable drugs and increasing number of diagnostic tests.
- Among the end use, the hospitals and clinics segment is expected to account for largest revenue share during the forecast owing to high prevalence of chronic diseases, increasing number of surgeries, and improving healthcare facilities. Other factors such as high birth rate, increasing geriatric population, availability of latest injectable devices, and increasing number of clinics and hospitals across the globe are driving revenue growth of the segment.
- Europe is expected to account for significant revenue growth over the forecast period. This can be attributed to factors such as high prevalence of chronic and lifestyle-associated diseases, rising number of tests and surgeries, rapid advancements in syringes and needles, increasing presence of well-developed healthcare facilities, and increasing investments for developing advanced and safe needles and syringes.
- Asia Pacific market revenue is expected to expand at a rapid CAGR of 8% between 2021 and 2028 owing to increasing incidence of chronic diseases such as cancer, diabetes, and cardiovascular diseases, improving healthcare facilities, and increasing diagnostic tests and blood collection. In addition, rising investments in research and development activities, increasing healthcare expenditure, increasing number of hospitals and clinics, and increasing vaccination drives are other factors driving revenue growth in Asia Pacific.
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