In the year 2018, Asia-Pacific Syringes Market was valued at USD 2.4 Billion. By the year 2023, it is expected to reach USD 3.95 Billion at the pace of 10.5% CAGR.

A syringe is a medical device used to inject different types of drugs into the body or to take blood samples from the body. A typical medical syringe has a needle attached to a hollow cylinder, which is equipped with a sliding piston. Syringes are widely used in health services such as hospitals, clinics, diagnostic centers and other medical sectors.

Underlying Causes

The growth for Asia-Pacific Syringes Market is driven due to factors like increasing prevalence of Chronic diseases like cardiovascular, obesity, and diabetes diseases, growing geriatric population, rising demand for vaccination, growing adoption of injectable drugs in healthcare facilities, and rising healthcare expenditure. In addition, advancement of technologies in medical industry, and increasing investment by private organizations are expected to drive the market growth. However, high risk related to drug delivery through syringes, and high costs of specialized syringes are the restraining factors which are expected hinder the rate for Asia-Pacific Syringes Market during the forecast period.

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Market Geographic Segmentation:

Based on geography the Asia-Pacific Syringes Market has been primarily divided into China, India, South Korea, Japan and Australia. India and China are rapidly growing in the Syringes Market due to increasing use of injectable in drug delivery, rising geriatric population, advancement of technologies in medical industry and improving healthcare facilities which is expected to witness high growth rate for Asia-Pacific Syringes Market during the forecast period.

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Key Players:

Leading companies for Asia-Pacific Syringes Market are Becton, Dickinson and Company, Terumo Corporation, Medtronic plc, Smiths Medical, B. Braun Medical Inc., NIPRO Corporation, Hindustan Syringes & Medical Devices Limited, Gerresheimer AG, SCHOTT AG, and CODAN Medizinische Geräte GmbH & Co KG.

 

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