Syringes Industry Is On A Rise Due To Increasing Prevalence Of Chronic Diseases And Growing Adoption Of Injectable Drugs

 Syringes industry data book covers prefilled syringes, disposable syringes, dental and micro syringes market.

The global syringes industy size was valued at USD 43.98 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 9.02% from 2023 to 2030.

Grand View Research’s syringes industry databook is a collection of market sizing information & forecasts, regulatory data, reimbursement structure, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.

 

Prefilled Syringes Market Insights

The global prefilled syringes market generated over USD 20.61 billion revenue in 2022 and is projected to expand at a CAGR of around 11.94% during the forecast period to reach USD 50.84 billion by 2030. Growing demand for efficient and easy-to-use drug delivery devices and increasing efforts of healthcare professionals to reduce hospital errors are the principal factors driving the market growth. The fast-paced development of feature-rich devices with underlying technological advancements extending safer and convenient self-injections for patients coupled with the impact of COVID-19 is expected to fuel the market growth during the forecast period.

 

Asia Pacific is expected to register the fastest CAGR from 2022 to 2030 with the development of fast-growing economies and the presence of a huge untapped market. Favorable demographic factors such as the large population and growing prevalence of various chronic diseases are expected to fuel the market growth in the region. Countries such as China represent the developed prefilled syringes market. According to Front Public Health in 2020, chronic NCDs account for about 80% of mortality in China among adults aged 60, with Ischemic Heart Disease, Stroke, Chronic Obstructive Pulmonary Disease (COPD), and Type 2 Diabetes is the most common. On the other hand, countries such as Japan and India provide large growth opportunities by attracting major market players with increasing Foreign Direct Investment (FDI) as well as product demand.

 

Disposable Syringes Market Insights

The global disposable syringes market size was valued at USD 14.19 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 6.21% from 2023 to 2030. The growth is attributed to the growing prevalence of chronic disorders, increasing adoption of safety syringes, and a growing number of surgeries globally. For instance, according to Mölnlycke Health Care AB, 70 million surgical procedures are performed every year in Europe. Since the introduction of disposable syringes, patients no longer must rely solely on the doctors' sterilization protocols for their safety, as they are discarded after one use.

Asia Pacific dominated the market and accounted for market revenue share of 31.1% in 2022. Various government measures to reassure the use of single-use medical supplies to prevent infections, as well as the presence of prominent market participants in the region, are expected to help to the region's growth.

The MEA market is likely to grow at a 6.9% rate. According to U.N. children’s agency in 2021, the shortage might affect up to 2.2 billion auto-disposable syringes that spontaneously lock to prevent re-use. The looming shortfall comes as the delivery of COVID-19 vaccine doses to Africa picks up after months of delay. Due to such a shortfall the demand for disposable syringes will continue to grow.

 

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Dental Syringes Market insights

The dental syringes market was valued at USD 8.95 Billion in 2022. High demand for specially designed syringes for dentistry is expected to fuel the market growth over the compounded annual growth rate of 5.05% from 2023 to 2030. Rising incidence of dental and oral diseases due to unhealthy eating habits and lack of vitamin D and vitamin A is one of the major growth drivers. In addition, rising geriatric population prone to various dental conditions is expected to fuel the growth.

Europe dominated the market in 2018, owing to the rise in geriatric population prone to various dental disorders coupled with high disposable income of consumers. Asia Pacific is expected to be the fastest-growing market in the forthcoming years owing to growing medical tourism, improving healthcare facilities, and increasing consumer disposable income. In addition, rising awareness among dental surgeons regarding advanced medical instruments is expected to bode well for the regional product demand. Moreover, factors such as rise in population, lack of dental hygiene, and unhealthy eating habits is anticipated contribute to increasing incidence of dental diseases. This factor is anticipated to create investment opportunities for the market players in near future.

 

Micro Syringes Market Insights

Micro syringes market is expected to exhibit a CAGR of more than 6.4% from 2023 to 2030 to reach a global market size of more than USD 369.6 Million. An increasing number of research studies and rising volume of life science research investigations are driving the market growth. Moreover, a growing number of drug discoveries, preclinical, and clinical trials due to the increasing efforts of pharmaceutical and biopharmaceutical companies to develop effective products are anticipated to drive the market. The intensive research being carried out in the pharmaceutical industry to develop new drugs is accelerating the demand for micro syringes. Also, government support in basic and early-stage research facilitates market growth.

North America led the global market in 2019 and accounted for over 38% of the global share. It is anticipated to retain its dominant position throughout the forecast years owing to heavy investments in R&D and technological advancements in the analytical techniques leading to proper detection of proteins; metabolites; other complex molecules. The U.S. holds the maximum share in the North American regional market.

Europe is the second-largest regional market due to the increasing acceptance of the chromatography syringes. Asia Pacific is anticipated to register the fastest CAGR 7.3% over the forecast period. This is attributed to the increasing base of the biotechnology and pharmaceutical industry in the region, which is likely to boost the adoption of autosamplers, thereby supporting the market growth. 

 

Go through the table of content of Syringes Industry Data Book to get a better understanding of the Coverage & Scope of the study.

 

Syringes Industry Data Book Competitive Landscape

Market players in the syringe market undertake several organic and in-organic growth strategies in order to strengthen their product portfolios and offer diverse technologically advanced and innovative products to their customers. These strategies are prominently adopted by companies to attract more customers in the market.

 

Key players operating in the Syringes industry are –

• Nipro Corporation
• Medtronic
• Baxter International, Inc.
• B.Braun Melsungen AG
• Dentsply Sirona
• Integra LifeSciences Corporation
• Agilent Technologies
• Hamilton Company
• B Braun Melsungen AG
• PerkinElmer, Inc.
• Unilife Corporation
• SCHOTT
• 3M
• Gerresheimer AG