NEW YORK, Nov. 21, 2016 /PRNewswire/ --
The syringes market is expected to reach USD 15.99 billion by 2021, at a CAGR of 8.7% from 2016 to 2021.
The syringes market is primarily driven by the high prevalence of chronic diseases across the globe. In addition, rising geriatric population, increasing adoption of safety syringes, technological advancements, and increasing demand for vaccines are supporting the growth of this market. On the other hand, high cost of safety syringes and increasing incidence of needle stick injuries are the major challenges in this market.
In this report, the syringes market has been segmented on the basis of usability (sterilizable/reusable syringes and disposable syringes), type (general syringes and specialized syringes), material (glass and plastic), and region (North America, Europe, APAC, and RoW). On the basis of usability, the global syringes market is segmented into two broad categories, namely, sterilizable/reusable syringes and disposable syringes. The disposable syringes market is estimated to command the larger share of the global syringes market in 2016. The large share of this segment can be attributed to the increasing use of injectables as a mode of drug delivery, growing aging population, high infection risks associated with reusable syringes, and increasing inclination towards self-administration.
Geographically, North America (comprising the U.S. and Canada) is expected to command the largest share of the syringes market in 2016, followed by Europe. The increasing prevalence of chronic and lifestyle diseases, growing product approvals, increasing awareness about specialized syringes, upsurge in biologics approvals, and increasing development of injectables are the major factors driving market growth in North America. However, the increasing cases of needlephobia and low adoption of biosimilars as compared to other regions are hindering market growth in North America.
The syringes market consists of a large number of big, medium, and small-sized companies. As of 2015, the syringes market was dominated by Becton, Dickinson and Company (U.S.), Terumo Corporation (Japan), Medtronic plc (Ireland), and B. Braun Medical Inc. (U.S.). New product launches and product approvals; partnerships and collaborations; and expansions; were the major strategies adopted by most of the market players between 2013 and 2016 to achieve growth in the syringes market.
This report studies the syringes market based on usability, type, and material. The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth. It analyzes opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micromarkets with respect to their individual growth trends, future prospects, and contributions to the total market. The report forecasts the revenue of the market segments with respect to four main regions
Reasons to Buy the Report:
From an insights perspective, this research report has focused on various levels of analysis—industry trends, market share analysis of top ten players, and company profiles, which together comprise and discuss basic views on the competitive landscape, emerging and high-growth segments of the syringes market, and high-growth regions and their respective drivers, restraints, challenges, and opportunities.
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help firms in garnering greater market shares. Firms purchasing the report could use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on product portfolios and services offered by the major players in the syringes market. The report analyzes the syringes market based on usability, type, material and region
- Product Development/Innovation: Detailed insights on the upcoming technologies, research and development activities, and new product launches in the syringes market
- Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various syringe products across geographies
- Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the syringes market
- Competitive Assessment: In-depth assessment of market shares, strategies, products and services, distribution networks, and manufacturing capabilities of leading players in the syringes market
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