Syringe Market is projected to achieve a CAGR of 3.50% to reach US$9.908 billion by 2028

The global syringe market is estimated to reach a value of US$9.908 billion in 2028 at a CAGR of 3.50% from 2023 - 2028.

NOIDA, UTTAR PARDESH, INDIA, November 21, 2023 /EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the syringe market is projected to grow at a CAGR of 3.50% between 2021 and 2028 to reach US$9.908 billion by 2028.

The key driving force behind the rapid growth of the global syringe market is the ageing population and the rise of chronic diseases. For instance, according to the World Health Organization (WHO), non-communicable diseases or chronic diseases, result in the deaths of 41 million individuals yearly. Among these, cardiovascular diseases contribute to 17.9 million fatalities annually, followed by cancers, chronic respiratory conditions, and diabetes.

Syringes are a type of medical instrument used to inject fluids into or withdraw fluids from the body. They consist of a needle attached to a hollow tube, which is connected to a barrel where the substance is drawn or pushed through by a plunger. Syringes find widespread application in healthcare, serving to administer medications, draw blood, and facilitate vaccinations for diverse needs such as hepatitis B vaccine, pet vaccine, poultry vaccine, and numerous other immunization purposes.

The market is observing numerous product launches and advancements. For instance, in September 2022, Terumo India launched FineGlide™, a Sterile Pen Needle catering to patients in need of regular insulin injections or self-medication. Featuring a 3-bevel super sharp needle and a high-grade silicone surface, FineGlide™ prioritizes patient comfort. Its design incorporates thin wall technology, ensuring improved flow rates and enhanced penetration with reduced injection force. Also, in January 2022, Nephron Pharmaceuticals Corporation launched a brand-new syringe presentation under Nephron 503B Outsourcing Facility operation. This syringe, made of Cyclic Olefin Copolymer (COC), has the appearance of glass but stands out for its durability and lightweight nature. Designed to accommodate a wide range of medications, including high-viscosity drugs, these COC syringes also extend the shelf life of products. Notably, the separated plunger design facilitates simpler storage.

Access sample report or view details: https://www.knowledge-sourcing.com/report/global-syringes-market

The global syringe market, based on type, is segmented into five main categories namely insulin syringe, conventional syringe, eccentric tip syringe, catheter tip syringe and luer lock syringe. An insulin syringe is a type of syringe that is used for administering insulin to individuals with diabetes.

The global syringe market, based on its material, is divided into three segments, which include glass, plastic, and stainless steel. Glass syringe is often used in laboratories, pharmaceutical compounding, and some specialized medical procedures. Glass syringes are autoclavable, ensuring sterilization for reuse.

The global syringe market, based on its syringe size, is segmented into two main categories namely smaller volume syringe and larger volume syringe. Smaller volume syringes are designed to handle smaller quantities of medication or fluids, commonly used for precise measurements and administration of smaller doses in medical applications.

North America is poised to experience substantial growth. The ageing population and the rise of chronic disease, particularly in nations like the United States and Canada bolster the growth of the syringe market in the region. For instance, according to the National Center for Chronic Disease Prevention and Health Promotion, In the United States, six out of ten individuals contend with at least one chronic ailment, while four out of ten adults grapple with a minimum of two chronic conditions, such as heart disease, stroke, cancer, or diabetes.

The research includes coverage of Becton, Dickinson and Company, B. Braun Melsungen, Terumo, Teleflex, Nipro, Smith’s Medical, Cardinal Health, HMD Healthcare, Hamilton Company, Advancecare Pharma USA as the significant market players in the global syringe market.

The market analytics report segments the syringe market using the following criteria:

• By Type

o Insulin Syringe
o Conventional Syringe
o Eccentric Tip Syringe
o Catheter Tip Syringe
o Luer Lock Syringe

• By Material

o Glass
o Plastic
o Stainless Steel

• By Syringe Size

o Smaller Volume Syringe
o Larger Volume Syringe

• By Geography

o North America

• United States
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• Germany
• France
• United Kingdom
• Others

o Middle East and Africa (MEA)

• Saudi Arabia
• UAE
• Others

o Asia Pacific

• China
• India
• South Korea
• Taiwan
• Thailand
• Indonesia
• Japan
• Others

Companies Profiled:

• Becton, Dickinson and Company
• B. Braun Melsungen
• Terumo
• Teleflex
• Nipro
• Smith’s Medical
• Cardinal Health
• HMD Healthcare
• Hamilton Company
• Advancecare Pharma USA

Explore More Reports:

• Insulin Storage Devices Market: https://www.knowledge-sourcing.com/report/insulin-storage-devices-market
• Human Insulin Market: https://www.knowledge-sourcing.com/report/human-insulin-market
• Global Insulin Delivery Devices Market: https://www.knowledge-sourcing.com/report/global-insulin-delivery-devices-market

Ankit Mishra
Knowledge Sourcing Intelligence LLP
+1 850-250-1698
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