The World Syringe Market to 2024: Prefilled Syringes are Anticipated to Dominate the Market - ResearchAndMarkets.com
On the other hand, the rise in incidences of needle-stick injuries, high cost associated with safety syringes, and disposable syringes are likely to hinder the growth of the syringe market globally.
The "Syringe
Market - Growth, Trends, and Forecast (2019 - 2024)" report has
been added to ResearchAndMarkets.com's offering.
The syringe market is expected to witness a robust growth owing to
several factors, such as the rise in the demand for pre-filled syringes,
growing prevalence of chronic diseases such as diabetes, and the
increase in the usage of Botox for therapeutic applications.
Moreover, the increased adoption of injectable drugs, technological
advancements in syringes, increase in geriatric population, and the
growing number of vaccination and immunization programs are expected to
drive the volume growth over the next few years. According to WHO
estimates, around 16 billion injections are administered globally on an
annual basis.
On the other hand, the rise in incidences of needle-stick injuries, high
cost associated with safety syringes, and disposable syringes are likely
to hinder the growth of the syringe market globally.
Key Market Trends
Prefilled Syringes are Anticipated to Dominate the Market
The syringe market is segmented on the basis of usage and application.
By usage, the market is further segmented into sterilizable/reusable
syringes, disposable syringes, and prefilled syringes.
Prefilled syringes are gaining acceptance in the market as drug delivery
systems designed for injectable drugs. They are generally preferred for
parenteral administration of various drugs and are used mainly for the
treatment of chronic diseases where patients have to administer
medication themselves several times a week. In line with this trend,
many pharmaceutical companies are focusing on bringing in advancements
in self-administration therapies.
For instance, the EpiPen auto-injector and similarly in July 2016,
Bristol-Myers Squibb commercially launched the ORENCIA Clickject
auto-injector. The latest trend gaining momentum in the market is the
shift from glass prefilled syringes to plastic prefilled syringes. The
plastic prefilled syringes are becoming more popular due to the
introduction of advanced polymer materials such as polypropylene and
crystal-clear polymer which are biocompatible with the other components
of the syringe.
Asia-Pacific is Anticipated to Grow Rapidly
The Asia-Pacific market for syringes is anticipated to exhibit a strong
growth during the forecast period. Although the syringe market is
presently in a stage of infancy in APAC, factors such as improving
economic conditions, rise in purchasing power of the people, the growth
in awareness regarding the advantages of prefilled syringes, and the
presence of a large patient pool suffering from various chronic diseases
are expected to drive the market to register a double-digit CAGR.
In Asia-Pacific, Japan accounts for the major share of the market by
revenue as well as volume, owing to the increased demand for
self-administered treatments and high penetration of self-injection
devices, the growing aging population, and the increasing prevalence of
diabetes.
Competitive Landscape
The syringe market is highly fragmented with the presence of a large
number of local and international players. Key players are adopting
different growth strategies to enhance their market presence, such as
partnerships, agreements, collaborations, new product launches,
geographical expansions, mergers, and acquisitions.
For instance, on April 8, 2019, Fresenius Kabi launched Adenosine
Injection, USP in 6 mg per 2 mL and 12 mg per 4 mL single dose in
Simplist ready-to-administer prefilled syringes in the United States. In
October 2018, W. L. Gore & Associates, Inc. (a global materials science
company) launched the GORE ImproJect Plunger for pre-filled syringes. In
November 2018, Septodont launched the Dentapen electronic syringe for
dental anesthesia.
Key Topics Covered
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rise in Prevalence of Chronic Diseases
4.2.2 Increased Adoption of Injectable Drugs
4.2.3 Technological Advancements in Syringes
4.3 Market Restraints
4.3.1 Increasing Incidence of Needle-stick Injuries, Coupled with High
Cost of Safety Syringes
4.3.2 Availability of Alternate Drug Delivery Methods
4.4 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Usage
5.1.1 Sterilizable/Reusable Syringes
5.1.2 Disposable Syringes
5.1.3 Prefilled Syringes
5.2 Application
5.2.1 Insulin Syringes
5.2.2 Botox
5.2.3 Osteoarthritis
5.2.4 Human Growth Hormone
5.2.5 Other Applications
5.3 Geography
5.3.1 North America
5.3.1.1 US
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 UK
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle East & Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle East & Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Becton Dickinson and Company
6.1.2 B. Braun Melsungen AG
6.1.3 Gerresheimer AG
6.1.4 Hindustan Syringes & Medical Devices Limited
6.1.5 Terumo Corporation
6.1.6 Nipro Corporation
6.1.7 Schott AG
6.1.8 Cardinal Health
6.1.9 Smiths Medical
6.1.10 Codan Medizinische Gerte GmbH & Co. KG.
6.1.11 Catalent Inc
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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