Disposable hypodermic syringes market to exhibit dynamic growth during the forecast period
The global disposable hypodermic syringes market is witnessing a steady growth, expected to grow at a CAGR of 6.2%. Worldwide, the increasing prevalence of diabetes, multiple sclerosis, and numerous lifestyle diseases will drive the overall market growth. Globally, rising number of surgeries, increased growth of biologics, advancement in hypodermic syringes with fixed dosage, low cost medical devices, and decreased microbial contamination risk along with reduced medication errors are key factors driving the overall growth of the disposable hypodermic syringes market. Additionally, enhanced R&D for disposable syringes, growth in the general and specialized syringes, increasing physician visits and increased product penetration in the hospitals and clinics will further spur revenue growth in the near future.
Market Synopsis
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Insulin syringes expected to register higher growth by the end of 2027
Increasing prevalence of Type 1 diabetes and Type 2 diabetes in children and adults will upsurge the demand for insulin delivery. According to the recent edition of the International Diabetes Federation (IDF) Diabetes Atlas 2017, around 424.9 million people were living with diabetes worldwide and estimated to increase by 48% by the end of 2045. Additionally, a high prevalence of multiple sclerosis and other lifestyle diseases will upsurge the overall demand in the near future. Increased use of single-use dental hypodermic syringes for daily operations will drive revenue growth. Utilization of multishot needle syringes and extraction syringes show steady growth during the forecast period due to its ease of operation, enhanced safety, low cost, and availability.
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Diabetic care centers segment to witness a significant CAGR
Expansion of diabetes care and services along with increased awareness about overall health management on a global scale will drive the overall growth of the market. Top institutes and organizations in collaboration with healthcare companies are expanding the services in the untapped markets. For e.g. American Association of Diabetes Educators, NCPA Foundation and others. Increased preference for disposable hypodermic syringes in hospitals and clinics as compared to traditional syringes at low cost along with no chances of cross-contamination will show promising growth on a global scale. Increasing hospital admissions, and expanding outpatient clinics and centers will increase the volume of disposable hypodermic syringes mainly for insulin delivery, vaccination, anesthesia administration and extraction of blood.
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Increased research and development with strong product portfolio in the developed regions
Major players in the disposable hypodermic syringes market are Becton, Dickinson and Company, Smiths Medical, Terumo Corporation, Albert David Ltd., Nipro Corporation, Medtronic plc, Thermo Fisher Scientific, Gerresheimer AG, B. Braun Medical Inc., Hindustan Syringes & Medical Devices Limited, Changzhou Holinx Industries Co., Ltd., CODAN Medizinische Geräte GmbH & Co KG, ISCON SURGICALS LTD. and others. Innovative product launches with higher patient safety & compatibility, low cost products, partnerships, new technology expansion, and improved R&D on disposable syringes will further spur revenue growth globally.
Historical & Forecast Period
This study report represents analysis for each segment from 2017 to 2027 considering 2018 to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2019 to 2027.
Report Scope by Segments
Market Segmentation
| ATTRIBUTE |
DETAILS |
| Research Period |
2017-2027 |
| Base Year |
2018 |
| Forecast Period |
2019-2027 |
| Historical Year |
2017 |
| Unit |
USD Million |
| Segmentation |
Type Segment (2017–2027; US$ Mn)
• Insulin Syringes
• Multishot Needle Syringes
• Extraction Syringes
• Dental Syringes
|
|
End User Segment (2017–2027; US$ Mn)
• Hospitals and Clinics
• Diagnostic Laboratories
• Diabetic Care Centers
• Others
|
|
Geography Segment (2017–2027; US$ Mn)
• North America (U.S. and Rest of North America)
• Europe (U.K., Germany, France, and Rest of Europe)
• Asia Pacific (Japan, China, India, and Rest of Asia Pacific)
• Rest of World (Middle East & Africa (MEA), Latin America)
|
The present report also figure out qualitative and quantitative market evaluation factors such as key market trends, market drivers, restraints and opportunities that provides a better understanding of the global market. Moreover, the global report also encompasses graphical illustration of competition landscape based on their market value, business strength, product portfolio and strategies such as new product launch, technology expansion, acquisitions, licensing agreements and partnerships.
Key questions answered in this report
- What are the current market trends and dynamics in the disposable hypodermic syringes market and valuable opportunities for emerging players?
- Which segment accounts for the fastest CAGR during the forecast period and why?
- Which end user segment holds a larger market share and why?
- Are low and middle-income economies investing in the disposable hypodermic syringes market?
- What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America and Middle East & Africa?
