The syringe industry is diverse, with significant implications for future health and commercial advancement. The syringe technology has advanced significantly. Syringes are currently the preferred choice for most parenteral drug delivery systems, and they have emerged as one of the drug delivery and pharmaceutical packaging industries' fastest-growing segments. This is due to a growing demand for syringes that are both convenient and safe. These benefits are assisting syringes in gaining a foothold in the medical device industry. The increasing prevalence of chronic and infectious diseases, as well as the increased use of Botox for therapeutic purposes, are the key drivers driving the growth of the Syringe market. According to the International Diabetes Federation's 2019 report, the number of diabetics is expected to rise from 463 million in 2019 to over 700 million by 2045. Syringes are used in nearly all diagnostic and therapeutic techniques for chronic diseases, and they play an important role during testing and medication administration, resulting in increased demand.
Furthermore, increased use of injectable pharmaceuticals, technological advances in syringes, an increase in the geriatric population, and an increase in the number of vaccination and immunization programs are all expected to drive volume growth in the coming years. According to the United Nations' 2019 Global Population Prospects report, there were approximately 703 million people in the world aged 65 and up in 2019. The world's aging population is expected to triple to 1.5 billion people by 2050. The proportion of the world's population aged 65 and up has increased from 6% in 1990 to 9% in 2019. In addition, by 2050, one in every six people on the planet will be over the age of 65. As the world's senior population grows, chronic diseases, which are high-risk factors in this age, will drive the market soon.
Because of COVID-19, there has been a surge in the production of COVID-19 vaccines, increasing the demand for syringes. In January 2020, the Biomedical Advanced Research and Development Authority (BARDA) estimated that administering a vaccine in the United States would necessitate between 650 million and 850 million needles and syringes. As a result, syringe demand is expected to rise, fueling the market growth. Furthermore, the increasing prevalence of needle-stick injuries, the high cost of safety syringes, and the availability of alternative drug delivery strategies are expected to stifle global syringe market growth.
The global syringes market is to increase from US$ XX.X million in 2020 to US$ XX.X million by 2025. The market is estimated to grow with a compound annual growth rate (CAGR) of XX.X% (2020-2025). Some of the prominent players in the market are B. Braun, Becton Dickinson, Codan, Gerresheimer, Hindustan Syringes & Medical Devices, Medtronic, Nipro, Schott, Smiths Medical, Terumo Medical. The research report on the global syringes market provides extensive competition analysis and competitive conditions. The report includes information on significant products, players, challenges and developments, and other information specific to the market.
The global economy is highly affected by the COVID-19. Various sectors in the economy are much affected by this pandemic. The global economy will decline because of the loss of trillions of dollars. The growing extension and imposition of lockdown in various countries directly affect the economy all over the world. The report consists of a chapter that provides a detailed study of the impact of COVID-19 on the syringes market. This report is helpful for business and industry practitioners. The study specifically intended to assist in explaining, directing, and understanding the potential of the syringes markets. The study focuses on providing readers with an understanding of developments in the industry. The report also provides detailed insights on market segments, market forecasts, leading players, market drivers, and inhibitors.
Goals and objectives of the global syringes market study
- Define and discuss the global market for syringes.
- Analyze the various segments of the market as well as the market dynamics of syringes.
- Categorize syringes segments with escalating growth potential and value the segments' future market.
- Analyze the key trends related to different segments and countries that help in figuring the syringes market.
- To check region-specific growth and development in the syringes market.
- Analyze the historical and current value of each of these product segments in the end-user and geographic markets.
- Understand the foremost stakeholders of the market and the value of the competitive landscape of the leaders of the market.
- To study the plans, initiatives, and strategies for the development of the market.
The second chapter, market overview, provides an overview of the syringes market. The chapter discusses macroeconomic factors, drivers, restraints, opportunities, challenges, value chain analysis, technology roadmap, and Porter 5 force model analysis.
Global Syringes Market Segmentation
Chapter 3, segment analysis provides information on the different sub-segments of the market. The chapter provides an in-depth analysis of the market segments, year-on-year growth projections that enable readers to identify potential market growth areas.
- Based on type, the global syringes market is segmenting into general syringes, specialized syringes, insulin syringes, tuberculin syringes, allergy syringes, catheter syringes, angiographic syringes.
- Based on application, the syringes market is segmenting into sterilizable/reusable syringes, hypodermic syringes, oral syringes, disposable syringes, conventional syringes, safety syringes, retractable safety syringes, non-retractable safety syringes, prefilled syringes.
Global Syringes Market Regional Analysis
Chapter 4, the regional analysis includes an in-depth analysis of the syringes market by region. The chapter includes various regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. The report also includes a comprehensive analysis of the market by country. The report covers countries such as the United States, Canada, Germany, France, Italy, Spain, China, India, Japan, the GCC, South Africa, Brazil, Mexico, and the rest of the world. Regional insight helps market competitors to make crucial decisions about their company. Individualized, country-wise, and segment-wise analyses by region allow readers to explore the potential of the market in different geographies. This section is a vital part of the report for each year's growth projections and a global share of value.
Global Syringes Market Competitive Analysis
Chapter 5, competitive analysis of the report includes company shares analysis, a list of acquisitions, mergers, collaboration, and the introduction of new products.
Global Syringes Market Company Profile
Chapter 6, the company profile of the report also covers key industry players working in the syringes market. The report also discusses the business strategies adopted by the players at the global, regional, and country-level. The study also focuses on various businesses or inorganic business development strategies for expanding consumer networks through product formation, organization extension, partnerships, mergers, and acquisitions.
The study offers an exhaustive summary and estimate of the global market. It includes in-depth qualitative and quantitative analyses in the report that align with our customer's goals and objectives. Projections have been confirmed by comprehensive primary and secondary analysis. The study will encourage clients to invest in the market based on the current business situation, trends, and potential developments in the segments. Understanding the requirement of the client, the report delivers specialist insights into the global market, its products, and market patterns.
