The global syringe and needle market is expected to grow at a CAGR of over 10% during the period 2019-2025
The global syringe and needle market constitutes an essential segment of the global medical devices market. The market is majorly driven by the rising incidence of trauma cases (accidents and burn cases), the growing prevalence of chronic diseases, and the increasing incidence of hospital-acquired infections.
Chronic diseases such as diabetes require medical products such as needles and syringes for the administration of insulin and drawing blood samples for monitoring glucose levels. Hence, the market is likely to grow due to the increasing prevalence of diabetics across the globe.
With increasing instances of hospital-acquired infections, there is a high demand to reduce hospital-acquired infections and maintain safe laboratory practices. Hence, the increased focus to avoid needle stick injuries and infection transmissions by medical practitioners is boosting the growth of safety syringes and needles in the market.
In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included
The study considers the present scenario of the syringe and needle market and its market dynamics for the period 2019-2025. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspect of the market. It profiles and examines leading companies and other prominent ones operating in the market.
Key Questions Answered
1. What is the global syringe and needle market size and growth forecast
2. What are some of the major factors influencing the syringe industry?
3. Which is the leading region/segment dominating the syringe and needle market?
4. Who are the strategic leaders in the syringe and needle market, and what are their shares?
5. How is COVID-19 impacting the market growth during the forecast period?
Global Syringe and Needle Market Segmentation
The global syringe and needle market research report includes a detailed segmentation by products, patient groups, end-users, and regions.
North America dominates the syringe market. APAC is expected to grow at a faster growth rate due to the presence of a large patient population that requires syringes for medication and blood testing. The increased adoption of injectable drugs, technological advancements, the increase in the geriatric population, and the growing number of vaccination and immunization programs for pediatrics, as well as adults, are expected to drive the volume growth over the next few years.
The syringe market is categorized based on type and usability. By type, the segment is further divided into general and specialized syringes. The general segment dominated the market in 2019, while the specialized segment is expected to grow at a faster growth rate during the forecast period. In terms of usability, the syringes segment is segmented into disposable and sterilizable. The disposable segment dominated the market share of 90%. The sterilizable segment accounted for a 10% market share.
The adult segment accounted for a 65% share of the global market in 2019. The segment is the major revenue contributor on account of the increasing application of injections to treat diseases such as cancer, diabetes, and several viral infections. The growing elderly population, which is prone to chronic diseases, is another major revenue contributor to the healthcare industry as this patient group requires medical supervision. The rise in hospital admissions is due to the increase in cancer, cardiovascular ailments, and other infectious and chronic diseases prevalence has driven the demand for syringes and needles.
The hospital end-user segment is dominating the market and accounted for a 55% market share of the global syringe and needle market in 2019. Hospitals are the major revenue contributors. All hospitals use needles and syringes to withdraw blood or fluid samples and administer drugs or vaccinations. In emergency and inpatient settings, the injections are used on a large scale for medication and collection of multiple blood specimens for diagnosis and treatment purposes for the patients in critical care.
The syringe and needle market is witnessing the growing adoption of advanced syringes to minimize the risk of vessel intima. Advanced and safety needles and syringes are reducing the risk of needle stick injuries and transmission of infectious diseases among patients and healthcare providers. The outbreak of the COVID-19 pandemic is increasing hospital admissions, thereby increasing the demand for injections.
Insights by Geography
The North American region is driven by the rising incidence of chronic and infectious diseases, with hospitals, clinics, and ASCs emerging as the major revenue generators. The US and Canada are the primary revenue contributors to the market. The adoption of syringes and needles with safety mechanisms is higher in North America than in other geographical regions.
End-users prefer the use of safety-engineered products, which, in turn, has increased the demand for such products. Moreover, the practice of safe community disposal has helped reduce medical contamination from needles, syringes, and cannula. The market is growing at a significant pace, which is expected to continue during the forecast period due to the rise in demand for safety injections and advanced cannula to reduce the incidences of needle stick injuries.
Insights by Vendors
The global syringes and needle market share is fragmented and is currently intensifying due to the rapidly changing technological environment. Becton, Dickinson and Company, B Braun Melsungen, Nipro Corporation, Terumo, and Teleflex are the key players. All these companies have a significant presence in major geographical regions such as North America, APAC, and Europe.
However, there are many local vendors providing products with similar specifications at low prices, which results in the price war among vendors. The major vendors are competing among themselves for the leading position in the market, with occasional spurts of competition coming from other local vendors.
Key Topics Covered
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage 4.1 Market Definition 4.1.1 Inclusions 4.1.2 Exclusion 4.2 Base Year 4.3 Scope of the Study 4.3.1 Market Segmentation by Geography
8 Market Opportunities & Trends 8.1 Growing Demand for Self-Injection Devices & Prefilled Syringes 8.2 Rapid Advancements in Needle & Syringe Design & Technology 8.3 High Growth Potential in Emerging Economies
9 Market Growth Enablers 9.1 Increasing Target Population 9.2 Growing Demand for Safety Needles & Syringes 9.3 Favorable Government Initiatives & Rising Awareness about Safe Injection Practices 9.4 Global Expansion of Needle Syringe Programs 9.5 High Demand for Biologics Using Parenteral Drug Delivery
10 Market Restraints 10.1 Risks Associated With Needles & Syringes 10.2 Growing Focus on Development of Alternative Drug Delivery Methods 10.3 Stringent Regulations & Legislation for Syringes & Needles