Syringes Market to grow at a Significant Rate During the Forecast Period
Rising cases of widely spreading chronic diseases is driving
the growth of Global Syringes Market throughout the forecast period.
According to TechSci Research report, “Global Syringes Market By Type (General,
Specialized {Insulin, Allergy, Tuberculin, Others}, Smart {Auto-Disable, Active
Safety, Passive Safety}) By Material (Glass Syringes v/s Plastic Syringes) By
Usability (Reusable Syringes v/s Disposal Syringes) By End User (Hospitals
& Clinics, Blood Collection Centers, Ambulatory Care Centers, Others) By
Region, Competition Forecast & Opportunities, 2026”, the Global
Syringes Market is expected to show an impressive growth in the upcoming five
years owing to the increasing number of self-administrating by patients and
rising number of diseases that require injections as a drug delivery method.
Moreover, the growth in the market is also influenced because of the technical
advancement that the product is experiencing. Smart syringes with facilities
like auto-disable, and active passive safety are also influencing the growth in
the market.
Due to the onset of COVID-19 and imposition of
complete lockdown to mitigate the coronavirus, there has been shutdown of many
manufacturing units and disruption in the supply chain resulting in interrupted
production and lesser supply all around the globe. Also, the economy has been
adversely affected in many countries resulting in the hinderance to the growth
of the market. However, Global Syringes Market saw a positive growth in the
second half of year 2020, due to introduction of vaccines and widespread
administration all over the world through syringes. After relief from lockdown
market is again going to pick up momentum to grow exponentially.
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Global syringes market is segmented based on type, material,
usability, end user, and regional distribution. Based on material the market is
further bifurcated into glass syringes and plastic syringes. Glass syringes are
expected to dominate the market in the upcoming five years. The glass syringes
are more resistive and have lesser chances of reacting with the solution inside
the syringe. Thus, the demand for glass syringes is more than plastic syringes
and thus driving the market toward a growth.
Based on usability, the market is categorized into
reusable and disposable syringes. Sterilizable/reusable syringes are
anticipated to dominate the market in the forecast period, 2022-2026. The
market is anticipated to grow on account of the property of reusable syringes
and its cost-effectiveness over its counter parts. Moreover, the syringes are
used for easier drug delivery for the wide spreading chronic diseases thus
driving the growth of the market.
Some of the major competitors in the market are Becton,
Dickinson, and Company, Terumo Corporation, Medtronic plc, B. Braun Medical
Inc., Nipro Corporation, Hindustan Syringes & Medical Devices Limited, Gerresheimer
AG, SCHOTT AG, CODAN Medizinische Geräte GmbH & Co KG, Baxter
International, Inc., West Pharmaceutical Services, Inc., Retractable
Technologies, Inc., Biocon Limited, Owen Mumford Ltd, Shandong Weigao Group
Medical Polymer Co., Ltd., among others. The companies are focusing on
extensive research and developments activities to stay competitive in the
market. Other competitive strategies include formation of alliances and partnerships.
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“Technological
advancement for product development is driving more scope for new investments.
Key players are actively involved in the research and development of better
products. North America is dominating the market for last five years and is
expected to continue its dominance, so it is advisable for the new investors
looking at lifestyle changes and the increasing number of chronic diseases in
the region, that global syringes market is expected to witness promising potential
for future investments,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based Global management consulting firm.
“Global Syringes Market By
Construction Method (Extrusion v/s Powder Bonding) By Construction Type
(Modular v/s Full Building) By Printing Technology (Fused Deposition Modelling
(FDM), Wire Arc Additive Manufacturing (WAAM), Big Area Additive Manufacturing
(BAAM), Stereolithography (SLA), Selective Laser Sintering (SLS), Selective
laser melting (SLM), Others) By Material Type (Concrete, Metal, Composite,
Plastics, Others) By End User Industry (Building v/s Infrastructure) By Region,
Competition Forecast & Opportunities, 2026”, has evaluated the future growth
potential of Global Syringes and provides statistics & information on
market size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Syringes.
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