Syringes Market Forecast, Trend Analysis & Competition Tracking: Global Market insights 2017 to 2022

Published on : Jul-2017 | List of Tables : 302 | List of Figures : 96 | No. of Pages : 170 | Report Code : FACT59MR |

A syringe is a medical device used for injecting fluids into the body, or to withdraw fluid from the body. A typical medical syringe has a needle attached to a hollow cylinder, which is fitted with a sliding plunger. By pushing the plunger in downward movement, the fluids are injected in a body, and retracting the plunger in upward direction extracts fluids from the body.

Invasive nature of medical procedures might frighten patients at first, but injecting medications turns out to be the healthier option over tropical application or oral intake. Supporting this notion, syringes continue to be a key product in the healthcare industry, offering optimum drug administration with minimal discomfort. Concurring to such particulars, the Fact.MR report on global syringes market predicts that the global demand for syringes will continue to surge in the years to come. 

According to the report, more than US$ 11 Bn worth of syringes will be sold in the world by the end of 2017. With increasing advancements in drug administration techniques, surgical industries will witness the emergence of new, multifunctional syringes, which will incidentally have a promising influence on the growth of global syringes market. Through 2022, the global market for syringes will have soared at 7.8% CAGR, procuring revenues worth more than US$ 16.5 Bn.

Market Taxonomy

Product Type

By Usability

By Material

By End User

General Syringes

Disposable

Glass

Hospital

Specialized Syringes

Reusable

Polymer

Blood Collection Centers

Conventional Syringes

   

Diabetic Care Centers

Safety Syringes

   

Veterinary Care Centers

Retractable Syringes

   

Others

Others

     

(Additional information, including cross-sectional data and country-wise analysis & forecast is available in the report)

Higher Surgical Preference to Specialized Syringes

Easy usability of standard syringes have made them a household commodity as consumers are attaining proper training, and administrating common vaccines by themselves. Meanwhile, medical organizations are prompting surgeons & medical practitioners towards higher adoption of specialized syringes. Unlike standard syringes, their specialized counterparts are successfully lowering healthcare costs by performing multiple injection functions at the cost of a single syringe. While their influence in cutting the medical bills of patients is marginal, specialized syringes are certainly drawing more adoption for their effectiveness.

In 2017 and beyond, more than 30% of global syringes market will procure its value through global sales of specialized syringes. The report, however, doesn’t understate the dominance of general syringes in the global market. With the largest revenue share, general syringes are expected to contribute more than US$ 3.5 Bn revenues to the global market by the end of 2022.

Disposable Plastic Syringes to Gain Traction

Key findings from the report also reveal that more than 99% of the global syringe sales will be accounted by plastic as raw material. Polymer syringes will continue to gain surplus demand, compared to glass syringes, indicating a clear-cut preference for surgical instrument manufacturers. The report also projects a significant rise in demand for disposable syringes. According to the report, more than 80% revenues procured in the global market will come from sales of disposable syringes. Higher health risks of reusing syringes is also attesting this projection, inferring a relatively sluggish growth in global sales of reusable syringes during the forecast period.  

The report also projects that hospitals will be observed as the largest end-users of syringes. While hospitals will certainly dominate over diagnostic centers, considering their treatment capacities, the report expects that over 66% of revenues amassed in the global syringe market will be accounted by hospitals. The report also projects that blood collection centers will contribute to more than US$ 1.8 Bn revenues by the end of the forecast period. Diabetic care centers are also expected to remain an attractive segment in terms of end-use. By the end of 2022, close to US$ 800 Mn worth of syringes will be sold through diabetic care centers in the world.

Competition Tracking

The report has also profiled leading players in the global syringes market, which include companies such as B. Braun Melsungen AG, Becton, Dickinson and Company, Gerresheimer AG, Terumo Corporation, Hindustan Syringes & Medical Devices Limited, Nipro Corporation, Medtronic PLC, Schott AG, Codan Medizinische Geräte GmbH & Co Kg, and Schott AG.

Note: The insights mentioned here are of the respective analysts, and do not reflect the position of Fact.MR

With rising demand for invasive medical treatments and growing adoption of self-administration of drugs, medical device manufacturers are focusing towards providing key surgical instruments such as syringes. In addition to this, medical professional are also emphasizing on the emergence of all-purpose syringes that can lower the imprint of dumping plastic syringes at large scale. This report offers in-depth analysis on the growth of global syringes market till date, and also provides an informative forecast on the market’s expansion during 2017-2022.

Scope

The scope of Fact.MR’s report is to analyze the global syringes market for the forecast period 2017-2022 and provide readers an unbiased and accurate analysis. Medical device manufacturers, research institutes, and raw material suppliers in the global syringes market can benefit from the analysis offered in this report. This report offers a comprehensive analysis, which can be of interest to leading trade magazines and medical journals pertaining to syringes.

Summary

The report commences with a brief information of the global syringes market. This executive summary sets the tone for the rest of the report, providing users the scope of the report. The executive summary includes important facts and statistics on the global syringes market.

Overview

The next section offers an overview of the global syringes market. This comprises an introduction to the market, along with a standard definition of the product – syringes. In this section, market value and year-over-year growth is offered to the readers. Year-over-year growth provides readers with a broader view of growth patterns over the forecast period.

The report’s succeeding section focuses on drivers, restraints and key trends from macroeconomic, demand, and supply perspectives. Impact analysis of weighted average model-based growth drivers is contained in the report for better provision of decision-making insights to clients.

In order to offer readers with up-to-date information about the latest advancements in the global syringes market, the report provides updates about market opportunities, which can benefit leading manufacturers of syringes. With continuous evolution of the healthcare sector, keeping a record of latest developments and trends is fundamental for syringes manufacturers to formulate key business strategies. Detailed insights about raw material sourcing, supply chain, safety regulations, pricing analysis, list of distributors, and cost structure are provided in this section.

The Fact.MR report provides segment-wise analysis and forecast in order to cover the wide scope of global syringes market. Product type, reusability, material, end-use, and region are key segments upon which the global market for syringes has been analyzed. This segmentation analysis is comprehensive, and it also includes a detailed country-wise forecast across all key market parameters.

The report’s last section comprises the global syringes market competitive landscape, to provide readers with the dashboard view of company analysis and market players. This competitive intelligence is based on the providers’ categories across value chain, and their presence in the global syringes market.

Research Methodology

Fact.MR is committed to offer unbiased and independent market research solutions to its clients. Each market report of Fact.MR is compiled after months of exhaustive research. We bank on a mix of tried-and-tested and innovative research methodologies to offer the most comprehensive and accurate information. Our main sources of research include,

  • Primary research
  • Secondary research
  • Trade research
  • Focused interviews
  • Social media analysis

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Syringes Market Forecast, Trend Analysis & Competition Tracking: Global Market insights 2017 to 2022