Description:Global Syringe and Needle Market was valued US$ XX Mn in 2019 and is expected to reach US$ XX Mn by 2027, at a CAGR of 7.8% during a forecast... moreGlobal Syringe and Needle Market was valued US$ XX Mn in 2019 and is expected to reach US$ XX Mn by 2027, at a CAGR of 7.8% during a forecast period.
Market Definition
Syringes and Needles are sterile devices used to inject solutions into the body. Syringes and needles are also used to segregate various types of body fluids, such as tissues from joints and blood from veins.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Market Dynamics
The Research Report gives a detailed analysis of the drivers and restraints in the Syringe and Needle Market. The main factors boosting the growth of global syringe and needle market is growing government funding to support clinical trials, rising occurrence of chronic ailments, acceptance & demand for safety syringes and needles over conventional reusable syringes and needles, up surging geriatric population, partnerships between biopharma companies and CROs, and investments in R&D that are resulting from these partnerships. Key market players are conducting extensive research and development activities worldwide to introduce syringes and needles with maximum precision and safety, which in turn, is promoting the market demand.
Global Syringe and Needle Market Segment analysis
Based on Usability, the Disposable Syringe segment is expected to grow at a CAGR of 5.8% during the forecast period. The syringes that are used by clinicians only once to inject medicines for the treatment of diseases. These syringes and needles are cost-effective and are ready to use in a sterilized condition that reduces the chances of contamination and spread of infection to the patient. These syringes are aided in monitoring the spread of AIDS in individuals. The Disposable Syringe market is mostly driven by rising demand for these syringes for giving medication through intravenous or intramuscular ways for treating the diseases. Disposable syringe market is the wide market with huge potential because of the growing R&D for developing new chemicals that are used in the manufacturing of these syringes, and continuous clinical trials to also boosting market growth.
Global Syringe and Needle Market Regional analysis
The North America region has dominated the market with US$ XX% Mn in 2019 thanks to several government legislative improvements whose purpose is to provide regulatory guidelines to manufacturing companies. The initiatives are taken by various organizations aimed at the eradication of blood-borne infections propelling the growth of the market. According to the American Diabetes Association, the annual healthcare cost in the U.S. increased by 26% during the last five years due to increased diabetes incidences.
Besides, the growth in medical technology has facilitated the east availability of a different variety of needles and brought more specialization in the industry, consequently fueling market growth. For example, the U.S. needle stick safety and prevention Act provides specific regulatory guidelines to syringe and needle manufactures for the development of safety needles. The most important country-specific markets in this region are the United States of America (USA) and Canada.
Country-wise Analysis
Some macroeconomic factors and internal market forces will shape the growth and development of demand patterns in emerging countries in Asia-Pacific, Latin America, and the Middle East which will grow at a CAGR of XX%.
Key Developments and Acquisitions
• In Apr 30th, 2019 B. Braun through their collaboration with Schreiner MediPharm, they launched the first FDA-approved prefilled heparin syringe with an integrated needle protection device.
• In April 24, 2019 — B. Braun Medical Inc. launched Heparin Sodium Injection, USP - the first Heparin 5,000 USP Unit / 0.5 mL prefilled syringe with attached safety needle for subcutaneous and intravenous use in the United States.
• In sept. 10, 2019 - B. Braun Medical Inc launched of Onvision, a breakthrough ultrasound guidance solution for real-time needle tip tracking in regional anesthesia. Available on the latest version of the B. Braun and Philips Xperius ultrasound system, Onvision gives anesthesiologists the confidence to accurately position the needle tip inside the body.
The objective of the report is to present a comprehensive analysis of the Global Syringe and Needle Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report.... less
