Global Syringe and Needle Market Research Report: By Type (Blood Collection Syringe and Needles, Ophthalmic Syringe and Needles, Bone Marrow Syringe and Needles, Catheter Syringe and Needles, and Others), Application (General Surgery, Diagnostic, Respiratory, Orthopedics, Cardiovascular, Dental, and others), Usability (Disposable, Reusable,) - Global Forecast till 2027
The global syringe and needle market is expected to exhibit a strong 5.5% CAGR over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The global syringe and needle market is profiled in detail in the report, which provides a clear look at the market’s historical growth trajectory as well as the major trends prevailing in the market at present. Studied forecasts regarding the growth trajectory of the syringe and needle market are presented in the report based on an analysis of the historical growth trajectory of the market.
The global syringe and needle market is mainly driven by the growing demand from the healthcare sector. Growth of the healthcare sector in many parts of the world is likely to be a major driver for the syringe and needle market over the forecast period. The growing reach and scope of the healthcare sector in regions such as Africa, the Middle East, and Asia Pacific is likely to be a major driver for the global syringe and needle market over the forecast period. As the healthcare sector expands, more people are connected to hospitals and clinics, leading to a growing demand for syringes and needles for various purposes. This is likely to remain a major driver for the syringe and needle market over the forecast period. The increasing awareness about vaccination and the growing use of blood testing in diagnostic processes is also likely to drive the demand from the global syringe and needle market over the forecast period.
The growing demand for safety syringes over conventional reusable syringes and needles is likely to be a major driver for the global syringe and needle market over the forecast period, as the overall production volume of safety syringes intended to be used only once is naturally higher than that of conventional reusable syringes.
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Leading players in the global syringe and needle market include Connecticut Hypodermics Inc., Albert David Ltd., Smiths Medical, Terumo Corporation, Covidien plc, and B. Braun Medical Inc. Leading players are likely to focus on expanding the production of safety syringes and needles in the coming years, as the growing healthcare sector has driven the demand for the same.
In September 2019, The Grand Forks council approved a needle exchange program with the intention of reducing the transmission of HIV and hepatitis C due to needle sharing.
The global syringe and needle market is segmented on the basis of type, therapeutic application, usability, end user, and region.
On the basis of type, the syringe and needle market is segmented into blood collection needles, ophthalmic needles, bone marrow needles, catheter needles, dental needles, epidural needles, AV fistula needles, pen needles, fine aspirating needles, biopsy needles, intravenous needles, spinal anesthesia needles, and suture needles.
On the basis of therapeutic application, the global syringe and needle market is segmented into general surgery, diagnostic, respiratory, orthopedics, cardiovascular, dental, neurology, ophthalmology, urology, and others.
On the basis of usability, the market is segmented into disposable and reusable.
On the basis of end user, the market is segmented into hospitals and clinics, diagnostic centers, home care, and others.
In 2016, the Americas held a dominant 48% share in the global syringe and needle market. The region is likely to remain the leading regional market for syringes and needles over the forecast period due to the growing demand for safety needles in the region. The advanced infrastructure regarding blood collection, including for diagnostic as well as storage purposes, in North America is likely to be a major demand driver for the syringe and needle market in the region. The growing geriatric population in the region is likely to drive up the demand for syringes and needles in the coming years.
Europe holds the second largest share in the global syringe and needles market, followed by Asia Pacific. The Europe market is mainly driven by the increasing awareness regarding vaccinations, increasing prevalence of chronic diseases, and the increasing investment in research and development.
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