BIOLABS INTERNATIONAL LLC
Global Opportunity Analysis and Industry Forecast, 2020–202
Syringes Market
Syringes Market by Product (General Syringes, Specialized Syringes, and Others), Usage (Reusable and Disposable Syringes), Material (Glass and Polymer), and End Use (Hospitals, Diagnostic Centers, Speciality Centers, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027
The global syringes market
Global Opportunity Analysis and Industry Forecast, 2020–2027
Rise in need for vaccination & immunization,
surge in geriatric population, increase in number of surgical procedures, advancements in surgical devices, and rise in incidence of chronic diseases are the key factors that drive the growth of the global syringes market.
Increase in cases of needlestick injuries has a significant impact on the syringes market, the fact that needlestick injuries are the leading cause of blood-borne diseases among healthcare professionals.
According to the Occupational Safety and Health Administration (OSHA) estimates, approximately 5.6 million healthcare professionals were susceptible to blood-borne diseases in 2014, owing to rise in prevalence of needlestick and other sharps object injuries.
Every year, about 384,000 healthcare personnel suffer from needlestick injuries in the U.S. Thus, such alarming increase in incidence of needlestick injuries has created an impending need for safety syringes. In addition,
wide availability of cost-effective syringes and increase in healthcare expenditure and rise in number of surgeries among elderly population significantly contribute toward the growth of the market. Moreover, increase in focus of companies to introduce other means of drug delivery without using syringes is expected to restrict the adoption of syringes, thereby negatively impacting the market growth in the near future.
However, chances of developing infection, owing to use of contaminated, reusable syringes are expected to hamper the market growth.
Syringes Market Segmentation
The global syringes market is segmented into type, usage, material, end use, and region. By type, the market is categorized into general syringes, specialized syringes, and others. The specialized syringes are further divided into insulin syringe and tuberculin syringes. Depending on usage, the market is bifurcated into reusable and disposable syringes.
The disposable syringes segment is sub segmented into conventional syringes, prefilled syringes, and safety syringes.
Segment review
Presently, on the basis of type, the specialized syringes segment is the major revenue contributor, and is projected to grow significantly during the forecast period. This is attributed to increase in demand for disposable syringes and rise in demand for injectable drugs
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Syringe is a medical instrument used for the extraction of fluids from the body or to inject fluids into the body. Syringes are available in various shapes and types, including general syringe, specialized syringes (insulin syringe, tuberculin syringe), and disposable syringes (conventional syringes, prefilled syringes, and safety syringes). Furthermore, mandatory recommendation by WHO to switch to disposable syringes ensuring safe injection practices, resulting in increased use of disposable syringes, significantly fosters the growth of the syringes market. However, prefilled syringes are expected to accelerate over the coming decades. They are generally preferred for parenteral administration of various drugs, minimizing drug waste, increasing product life span, and greater dose precision are some of the driving factors boosting the market demand.