Global Syringe and Needle Market – Top Emerging Trends, CAGR, SWOT and Competitive Analysis, Growth Opportunities, Rise in Demand
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,), End User (Hospital & Clinics, Diagnostic
Centers, Home Care, and Others), and Region (Americas, Europe, Asia-Pacific,
and Middle East and Africa)—Global Forecast till 2027
Syringe and Needle
Market Highlights
The global syringe
and needle market is expected to exhibit a strong 7.3% CAGR over
the forecast period from 2019 to 2025, according to the latest research report
from Market Research Future (MRFR). The global syringe and needle market was
valued at USD 6.4 billion in 2018 and is expected to rise to a valuation of
more than USD 10.4 billion by 2025, according to the MRFR report.
The report presents a detailed
analysis of the global syringe and needle market by providing readers with a
comprehensive overview of the market’s historical trajectory. The leading
drivers and restraints affecting the global syringe and needle market are
assessed in detail in the report. The historical impact of these drivers and
restraints is analyzed in context of the current impact of these factors and
projections are made for the likely impact of these drivers and restraints over
the forecast period. Various components of the global syringe and needle market
are also studied in the report and projections are made for the growth
trajectory of each distinct component. The various segments and sub-segments
within the global syringe and needle market are studied in detail in the
report. The study also makes a detailed analysis of the major players operating
in the global syringe and needle market and provides a detailed look at the
various competitive strategies employed by players in the global syringe and
needle market. Likely future conditions with respect to the competitive
landscape of the market are also explained in detail in the report.
The global syringe and needle
market is mainly driven by the growing demand from the healthcare sector. The healthcare
sector around the world has grown rapidly in the last few years, thus
increasing the overall scope for the global syringe and needle market. Syringe
and needle sets are used in a wide range of applications in the healthcare
sector, including diagnostic, therapeutic, and surgical applications. Syringe
and needle sets are used to take biological samples from the patients, to
inject therapeutic drugs into the patient, to inject devices such as catheters
into the patient, as well as to inject anesthetics during surgical procedures.
The growing scope of the healthcare sector is likely to be the prime driver for
the global syringe and needle market over the forecast period. Innovations in
syringe and needle design to improve the safety aspects of syringes and needles
as well as to maximize efficiency are also likely to be a major driver for the
global syringe and needle market over the forecast period.
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Competitive Analysis:
Leading players in the global
syringe and needle market include Smiths Medical, Cardinal Health, Schott AG,
BD, Medtronic, Septodont, Insulet, Connecticut Hypodermics Inc., Terumo
Corporation, B. Braun Melsungen AG, Albert David Ltd., and DeRoyal.
In November 2019, the city of
Minneapolis announced the establishment of needle drop-off points in order to
reduce the availability of needles for drug use and other recreational uses. This
also helps reduce the transmission of AIDS and other needle-borne diseases.
In September 2019, The Grand
Forks council in North Dakota approved a needle exchange program with the
intention of reducing the transmission of HIV and hepatitis C due to needle
sharing.
Segmentation:
The global syringe and needle
market is segmented on the basis of type, treatment, usability, end user, and
region.
The global syringe and needle
market, by treatment, has been segmented into syringe and needle repair and
syringe and needle replacement.
Based on type, the syringe and
needle market has been segmented into blood collection syringe and needles,
ophthalmic syringe and needles, bone marrow syringe and needles, catheter
syringe and needles, dental syringe and needles, epidural syringe and needles,
AV fistula syringe and needles, pen syringe and needles, intravenous syringe
and needles, spinal anesthesia syringe and needles, suture syringe and needles,
and others.
On the basis of usability, the
market has been segmented into disposable and reusable.
The end user segments include
hospitals & clinics, diagnostic centers, home care, and others.
Regional Analysis:
The Americas holds the largest
share in the global syringe and needle market and is likely to remain the
leading revenue generator over the forecast period. The U.S. and Canada have
two of the largest healthcare sectors in the world, which is a major driver for
the syringe and needle market in the Americas. Europe is another leading
regional market for syringe and needles.
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Market Research Future
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