Global Syringe Market Forecast to 2027 - COVID-19 Impact and Analysis - ResearchAndMarkets.com

The "Syringe Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Syringe Type, Application, Usability, and End User and Geography" report has been added to ResearchAndMarkets.com's offering.

According to this report the global syringe market is expected to reach $26,859.34 million by 2027 from $12,649.46 million in 2019. The market is estimated to grow at a CAGR of 9.8% from 2020 to 2027. The report highlights trends prevailing in the market, and drivers and hindrances pertaining to the market growth.

Based on syringe type, the market is segmented into luer lock syringes, glass syringes, luer slip syringes, and others. In 2019, the glass syringes segment held the largest share of the market. The segment is expected to grow at the fastest CAGR during the forecast period. This segment is likely to witness a lucrative growth owing to low mechanical tolerance, and smooth movement of the plunger. Furthermore, properties of glass, such as nonreactive nature and heat and chemical resistance, are contributing to the growth of this segment. Moreover, glass syringes are highly compatible with various drug filing devices and are easy to manufacture, which makes them the most preferred syringes in market. In March 2019, Gerresheimer AG launched metal free 1 ml long Luer lock Gx RTF glass syringes to deliver highly complex, protein-based bioengineered molecules.

In the last few years, the health care sector has witnessed SARS, H1N1 and other outbreaks. However, the severity of the coronavirus makes the situation more complex. Additionally, with no vaccine in market and only preventive measure to self-isolation is hitting the various industries including Syringe manufacturing in the region. The US and Canada have witnessed spike in cases in just few days, which has compelled the governments to shut down all the business in order to prevent the spread of the virus.. As of July 2020, in the US, more than 5.0 million confirmed corona cases were recorded and more than 160 thousands deaths were reported due to COVID-19 Pandemic. The syringe market is expected to be hit by the pandemic the most due to increasing number of cases and lockdown in most of the cities.

Reasons to Buy:

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Syringe market.
• Highlights key business priorities in order to assist companies to realign their business strategies.
• The key findings and recommendations highlight crucial progressive industry trends in the global Syringe market, thereby allowing players across the value chain to develop effective long-term strategies.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
• Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.

Market Dynamics

• Growing Number of Chronic Diseases and Infectious Diseases
• Increased Adoption of Injectable Drugs

• Growing Cases of Needle-stick Injuries

• Expanding Injectables Market

• Growing Trend Toward Prefillable Syringe Systems

Companies Mentioned

• Becton, Dickinson and Company (U.S.),
• Baxter International Inc.
• Terumo Corporation
• Vita Needle Company
• Cardinal Health Inc
• Nipro
• RETRACTABLE TECHNOLOGIES, INC.
• B. Braun Medical Inc.
• AIR-TITE PRODUCTS CO., INC.
• HENKE-SASS, WOLF

For more information about this report visit https://www.researchandmarkets.com/r/iz20k8

View source version on businesswire.com: https://www.businesswire.com/news/home/20210216005904/en/