Global Syringe Market Size, Share, Opportunities, And Trends By Type (Insulin Syringe, Conventional Syringe, (Eccentric Tip Syringe, Catheter Tip Syringe, Luer Lock Syringe)), By Material (Glass, Plastic, Stainless Steel), By Syringe Size (Smaller Volume Syringe, Larger Volume Syringe), And By Geography - Forecasts From 2023 To 2028
- Published : Dec 2023
- Report Code : KSI061611594
- Pages : 112
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.
The rise in the geriatric population is one of the major factors anticipated to propel the growth of the global syringe industry during the forecast period. As many people acquire diseases as they age, the increasing elderly population has a direct positive impact on the rising demand for syringes. According to data from the World Bank, there will be 1.25 billion individuals aged 65 and older by 2050, an increase of about 757 million from 2020.
Rising prevalence of chronic diseases
The rising prevalence of chronic diseases worldwide is another major factor that is expected to lead to the rising demand for syringes during the forecasted period. For instance, the number of persons with diabetes worldwide was predicted to reach 537 million in 2021, 643 million in 2030, and 783 million in 2045. Additionally, it is anticipated that 541 million individuals will have reduced glucose tolerance by 2021. Moreover, an increasing number of immunization programs being conducted around the world, coupled with increased awareness among people for the need for immunization to tackle various diseases, is anticipated to bolster the growth of the global syringe market during the forecast period.
Death rate by non-communicable diseases
Owing to the lack of physical activities in the modern lifestyle, a number of people suffer from various kinds of chronic diseases like cardiovascular diseases, rheumatoid arthritis, and diabetes, among many others. According to the World Health Organization (WHO), the majority of NCDs, or 17.9 million fatalities each year, are caused by cardiovascular illnesses, followed by malignancies (9.3 million), chronic respiratory conditions (4.1 million), and diabetes (2.0 million, including deaths from renal disease brought on by diabetes). This is expected to have a positive impact on the global syringe market growth and is anticipated to supplement the rise in the use of syringes.
Chronic diseases in Americans
The Centers for Disease Control and Prevention states that nearly six in ten adults in the United States have a chronic disease while four in ten adults have two or more chronic diseases. Furthermore, according to the International Diabetes Federation, the number of people with diabetes is projected to grow from 537 million in 2021 to 634 million in 2030. This is leading to an increased number of people who need regular insulin injections. The increasing trend for diabetics around the world and the increased launch of market products by the major players is projected to continue in the coming years and is anticipated to boost the demand for syringes during the assessment period.
It is projected that the syringe market in the United States will grow steadily.
The growth of syringes in the United States can be attributed to the rising prevalence of chronic diseases like diabetes and cancer in the country. Diabetes is increasing at a significant rate in the United States. According to the Centers for Disease Control and Prevention in 2022, 37.3 million people or 11.3% of the US population were suffering from diabetes, out of which 28.7 million people had been diagnosed with diabetes and 8.5 million people suffered from undiagnosed diabetes. 96 million people aged 18 years or older have become prediabetes in the United States. Hence, the prevalence of such diseases is increasing in the States which in turn is propelling the syringe market growth.
Number of transplants in the United States
According to the United Network for Organ Sharing, the total number of transplants in the United States were 42,887 a 3.7% increase over 2021, and the highest transplants happened for kidney. The kidney transplant statistics for 2022 were 25,498 in the States which is an increase of 3.4% over the previous year, followed by liver, heart, and lung transplants with 9,528, 4,111, and 2,692 transplants respectively. Therefore, with an increase in diseases and an increase in ways to treat them growing in the country, this will help in further expanding the global syringe market in the United States.
Market Key Developments
- In October 2022, a ready-to-fill polymer syringe with a greater volume for difficult biotech medications was introduced by Terumo Pharmaceutical Solutions (TPS), a part of Terumo Corporation and maker of primary container, injection, and infusion treatment devices. Specifically created for the biotech sector, the PLAJEX 2.25 mL with Tapered Needle is appropriate for difficult drug applications, such as high-viscosity biotech drugs.
- In January 2022, Nephron Pharmaceuticals Corporation, a company based in West Columbia, United States, launched the Cyclic Olefin Copolymer syringe (COC). These COC syringes have a glass-like appearance, but they are break-resistant and lightweight.
Global Syringe Market Scope:
Report Metric | Details |
Market Size Value in 2028 | US$9.908 billion |
Growth Rate | CAGR of 3.50% from 2021 to 2028 |
Base Year | 2021 |
Forecast Period | 2023 – 2028 |
Forecast Unit (Value) | USD Billion |
Segments Covered | Type, Material, Syringe Size, and Geography |
Regions Covered | North America, South America, Europe, Middle East and Africa, Asia Pacific |
Companies Covered | Becton, Dickinson and Company, B. Braun Melsungen, Terumo, Teleflex, Nipro, Smith’s Medical, Cardinal Health, HMD Healthcare, Hamilton Company, Advancecare Pharma USA |
Customization Scope | Free report customization with purchase |
Segmentation:
- By Type
- Insulin Syringe
- Conventional Syringe
- Eccentric Tip Syringe
- Catheter Tip Syringe
- Luer Lock Syringe
- By Material
- Glass
- Plastic
- Stainless Steel
- By Syringe Size
- Smaller Volume Syringe
- Larger Volume Syringe
- By Geography
- North America
- United States
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- Germany
- France
- United Kingdom
- Others
- Middle East and Africa
- Saudi Arabia
- UAE
- Others
- Asia Pacific
- China
- India
- Japan
- South Korea
- Taiwan
- Thailand
- Indonesia
- Others
- North America
Frequently Asked Questions (FAQs)
The syringe market is estimated to reach a total market size of US$9.908 billion in 2028.
The global syringe market is estimated to grow at a CAGR of 3.50% during the forecast period.
The global syringe market has been segmented by type, material, syringe size, and geography.
The rise in the geriatric population is one of the major factors anticipated to propel the syringe market growth.
North America is expected to hold a significant share of the syringe market.
1. INTRODUCTION
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.5. Currency
1.6. Assumptions
1.7. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Data
2.2. Assumptions
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. GLOBAL SYRINGE MARKET BY TYPE
5.1. Introduction
5.2. Insulin Syringe
5.3. Conventional Syringe
5.3.1. Eccentric Tip Syringe
5.3.2. Catheter Tip Syringe
5.3.3. Luer Lock Syringe
6. GLOBAL SYRINGE MARKET BY MATERIAL
6.1. Introduction
6.2. Glass
6.3. Plastic
6.4. Stainless Steel
7. GLOBAL SYRINGE MARKET BY SYRINGE SIZE
7.1. Introduction
7.2. Smaller Volume Syringe
7.3. Larger Volume Syringe
8. GLOBAL SYRINGE MARKET, BY GEOGRAPHY
8.1. Introduction
8.2. North America
8.2.1. USA
8.2.2. Canada
8.2.3. Mexico
8.3. South America
8.3.1. Brazil
8.3.2. Argentina
8.3.3. Others
8.4. Europe
8.4.1. Germany
8.4.2. France
8.4.3. United Kingdom
8.4.4. Others
8.5. Middle East and Africa
8.5.1. Saudi Arabia
8.5.2. UAE
8.5.3. Others
8.6. Asia Pacifi
8.6.1. China
8.6.2. India
8.6.3. Japan
8.6.4. South Korea
8.6.5. Taiwan
8.6.6. Thailand
8.6.7. Indonesia
8.6.8. Others
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Market Share Analysis
9.3. Mergers, Acquisitions, Agreements, and Collaborations
10. COMPANY PROFILES
10.1. Becton, Dickinson and Company
10.2. B. Braun Melsungen
10.3. Terumo
10.4. Teleflex
10.5. Nipro
10.6. Smith’s Medical
10.7. Cardinal Health
10.8. HMD Healthcare
10.9. Hamilton Company
10.10. Advancecare Pharma USA
Becton, Dickinson and Company
B. Braun Melsungen
Terumo
Nipro
Smith’s Medical
Cardinal Health
HMD Healthcare
Hamilton Company
Advancecare Pharma USA
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