Pune, India -- (SBWIRE) -- 07/21/2018 -- Data Bridge Market Research added this market report defines the market trends and forecast the upcoming opportunities and threats of the syringe market in the next 8 years. Syringes are used in the administration of the drugs through subcutaneous, intravenous and intramuscular route. They have wide range of applications in vaccination, drug delivery and collecting blood sample. According to the WHO, 16 Billion injections are being used every year and among them only 90% is used for the curative purpose.
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Global Syringes Market is expected to reach USD 21.90 Billion by 2025, from USD 11.40 Billion in 2017 growing at a CAGR of 8.5% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2017, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
The prefilled injections are used for the packaging and delivering the biologics. Advanced pen injections, which are prefilled injections are expected to drive the market growth over conventional syringes due to patient convenience and safety.
Disposable syringes are mainly used for the vaccination purposes and for only single use. There is increase in the growth of syringe market because of high prevalence of blood borne infections like HIV, Hepatitis B and C and needle-stick injuries and due to technological advancement. In December 2016, Mylan NV announced the launch of Epipen (epinephrine injection). This device has the same drug formulation and functionality as epipen auto injector. It can be given after sudden anaphylactic shock. Epipen is under patent filling approval till 2025.
Top Market Drivers and Restraints:
- Awareness towards blood borne diseases.
- Increase in the use of self-administration drugs like insulin.
- Development of biologics and increase in the number of injectable drugs
- Increased investment in research and development of membrane devices
- Downward pricing pressure owing to its commodity nature
- Alternate drug delivery methods
- Increase in chronic disease patient
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Competitive Analysis:
The global syringe market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of syringe market for global, Europe, North America, Asia Pacific and South America.
Top Key Players Operating In The Global Syringe Market Are:
- Becton Dickinson and Company Group plc,
- Terumo Medical Corporation,
- Baxter International Inc,
- Smiths medical,
- Retractable Technologies Inc,
- Medtronic,
- Gerresheimer AG,
- West Pharmaceutical Services Inc,
- Nipro Corporation,
- Vetter,
- Baxter International Inc,
- Abbott, Ypsomed,
- Haselmeier,
- Weigao group,
- Owen Mumford Ltd,
- Bayer AG,
- Biocon, among others.
This report provides:
1) An overview of the global market for syringe and related technologies.
2) Analyses of global market trends, with data from 2013, estimates for 2014 and 2015, and projections of compound annual growth rates (CAGRs) through 2025.
3) Identifications of new market opportunities and targeted promotional plans for Global Syringe Market.
4) Discussion of research and development, and the demand for new products and new applications.
5) Comprehensive company profiles of major players in the industry.
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