Pre-order Enquiry
Request Free Sample
Syringe Market - Growth, Trends, and Forecast (2022 - 2030)
SKU ID : INH-14244459 | Publishing Date : 01-Apr-2019 | No. of pages : 113
Request Sample
Request Customization
Check Discounts
Market Overview
The syringe market is expected to witness a robust growth owing to several factors, such as the rise in the demand for pre-filled syringes, growing prevalence of chronic diseases, such as diabetes, and increase in the usage of Botox for therapeutic applications. Moreover, the increased adoption of injectable drugs, technological advancements in syringes, increase in geriatric population, growing number of vaccination and immunization programs are expected to drive the volume growth over the next few years. According to WHO estimates, around 16 billion injections are administered globally on an annual basis. On the other hand, the rise in incidence of needle-stick injuries, high cost associated with safety syringes, and disposable syringes are likely to hinder the growth of the syringe market globally.
Scope of the Report
The syringe is a device used by medical professionals to transfer liquids into or out of the body. It is made up of a hollow needle, which is attached to a tube and a plunger. When the plunger handle is pulled back, fluids are drawn into the tube. The fluid is forced out through the needle when the handle is pushed down. The syringe was introduced in the mid-1800s and has steadily improved with the development of new materials and designs.
Key Market Trends
Prefilled syringes are anticipated to dominate the market
The syringe market is segmented on the basis of usage and application. By usage, the market is further segmented into sterilizable/reusable syringes, disposable syringes, and prefilled syringes.
Prefilled syringes are gaining acceptance in the market as drug delivery systems designed for injectable drugs. They are generally preferred for parenteral administration of various drugs and are used mainly for the treatment of chronic diseases where patients have to administer medication themselves, several times a week. In line with this trend, many pharmaceutical companies are focusing on bringing in advancements in self-administration therapies. For instance, the EpiPen auto-injector and similarly in July 2016, Bristol-Myers Squibb commercially launched the ORENCIA Clickject auto-injector. The latest trend gaining momentum in the market is the shift from glass prefilled syringes to plastic pre-filled syringes. The plastic prefilled syringes are becoming more popular due to the introduction of advanced polymer materials, such as polypropylene and crystal-clear polymer, which are biocompatible with the other components of the syringe.
Asia-Pacific is anticipated to grow rapidly in the syringe market
The Asia-Pacific market for syringes is anticipated to exhibit a strong growth during the forecast period. Although the syringe market is presently in its stage of infancy in APAC, factors, such as improving economic conditions, rise in purchasing power of the people, the growth in awareness regarding the advantages of prefilled syringes, and the presence of a large patient pool suffering from various chronic diseases are expected to drive the market to register a double-digit CAGR. In Asia-Pacific, Japan accounts for the major share of the market by revenue as well as volume, owing to the increased demand for self-administered treatments and high penetration of self-injection devices, growing the aging population, and increasing the prevalence of diabetes.
Competitive Landscape
The syringe market is highly fragmented with the presence of a large number of local and international players. Key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, mergers, and acquisitions. For instance, in April 8, 2019 - Fresenius Kabi launched Adenosine Injection, USP in 6 mg per 2 mL and 12 mg per 4 mL single dose in Simplist® ready-to-administer prefilled syringes in the United States. In October 2018- W. L. Gore & Associates, Inc. (a global materials science company) launched the GORE™ ImproJect™ Plunger for pre-filled syringes. In November 2018- Septodont launched the Dentapen electronic syringe for dental anesthesia.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support
The syringe market is expected to witness a robust growth owing to several factors, such as the rise in the demand for pre-filled syringes, growing prevalence of chronic diseases, such as diabetes, and increase in the usage of Botox for therapeutic applications. Moreover, the increased adoption of injectable drugs, technological advancements in syringes, increase in geriatric population, growing number of vaccination and immunization programs are expected to drive the volume growth over the next few years. According to WHO estimates, around 16 billion injections are administered globally on an annual basis. On the other hand, the rise in incidence of needle-stick injuries, high cost associated with safety syringes, and disposable syringes are likely to hinder the growth of the syringe market globally.
Scope of the Report
The syringe is a device used by medical professionals to transfer liquids into or out of the body. It is made up of a hollow needle, which is attached to a tube and a plunger. When the plunger handle is pulled back, fluids are drawn into the tube. The fluid is forced out through the needle when the handle is pushed down. The syringe was introduced in the mid-1800s and has steadily improved with the development of new materials and designs.
Key Market Trends
Prefilled syringes are anticipated to dominate the market
The syringe market is segmented on the basis of usage and application. By usage, the market is further segmented into sterilizable/reusable syringes, disposable syringes, and prefilled syringes.
Prefilled syringes are gaining acceptance in the market as drug delivery systems designed for injectable drugs. They are generally preferred for parenteral administration of various drugs and are used mainly for the treatment of chronic diseases where patients have to administer medication themselves, several times a week. In line with this trend, many pharmaceutical companies are focusing on bringing in advancements in self-administration therapies. For instance, the EpiPen auto-injector and similarly in July 2016, Bristol-Myers Squibb commercially launched the ORENCIA Clickject auto-injector. The latest trend gaining momentum in the market is the shift from glass prefilled syringes to plastic pre-filled syringes. The plastic prefilled syringes are becoming more popular due to the introduction of advanced polymer materials, such as polypropylene and crystal-clear polymer, which are biocompatible with the other components of the syringe.
Asia-Pacific is anticipated to grow rapidly in the syringe market
The Asia-Pacific market for syringes is anticipated to exhibit a strong growth during the forecast period. Although the syringe market is presently in its stage of infancy in APAC, factors, such as improving economic conditions, rise in purchasing power of the people, the growth in awareness regarding the advantages of prefilled syringes, and the presence of a large patient pool suffering from various chronic diseases are expected to drive the market to register a double-digit CAGR. In Asia-Pacific, Japan accounts for the major share of the market by revenue as well as volume, owing to the increased demand for self-administered treatments and high penetration of self-injection devices, growing the aging population, and increasing the prevalence of diabetes.
Competitive Landscape
The syringe market is highly fragmented with the presence of a large number of local and international players. Key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, mergers, and acquisitions. For instance, in April 8, 2019 - Fresenius Kabi launched Adenosine Injection, USP in 6 mg per 2 mL and 12 mg per 4 mL single dose in Simplist® ready-to-administer prefilled syringes in the United States. In October 2018- W. L. Gore & Associates, Inc. (a global materials science company) launched the GORE™ ImproJect™ Plunger for pre-filled syringes. In November 2018- Septodont launched the Dentapen electronic syringe for dental anesthesia.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
