Pune, India -- (SBWire) -- 03/21/2019 --The Syringes Market's segment market shares in each geographic region are mentioned in the report, along with the historic and forecast growth rates. Each segment represented visually with supporting reasons to justify the growth rates. IGR's report also covers drivers and restraints in the syringes market.
Infinium Global Research's report covers the annual growth of the Global syringes market. It also includes chapters on the Global syringes industry trends, geographic analysis, and competitive landscape.
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The report also includes a SWOT analysis to present the indicators of strength, weakness, prospects, and risk of the market until the completion of the projection period in 2024.
Syringes Market: Industry Insights
A syringes are devices used to inject or withdraw fluids from any cavity or vessel. It is a tube with piston and nozzle or inject fluids or withdraw from the body. A medical device that consists of a needle attached to a hollow cylinder that is fitted with a sliding plunger for injecting and withdrawing fluids to the body.
Syringes Market: Drivers and Restraints
Due to the increase in chronic disease worldwide, there is a rise in demand for the market. Increasing awareness among the people for the use of disposable equipment is expected to fuel the market in the forecast period. World Health Organization estimates that approximately 16 billion injections are administered every year across the globe. Also, there is a tremendous increase in aging population and change in human lifestyle, which led to long-term health problem for the new generation. Accident due to needlestick injuries is restraining the market. Due to the lack of guidance and practices, the injuries may cause. Safety syringes is the perfect solution to needle stick injuries. Government is taking initiative for organizing awareness event and campaign for increasing health and fitness awareness among society.
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Syringes Market: Segmentation
By type, the market is segmented into standard syringes, safety syringes, and prefilled syringes. Safety Syringes accounted for a sizeable share in the market in 2018. Ease in the use for the common people driving the growth of this segment. Based on application, the global syringes market has bifurcated into drug delivery, vaccination, and blood specimen collection. Drug delivery segment is expected to contribute to the market owing to the rise in health awareness among society. By end-user, the market is segmented into hospitals and HMOs, clinics, fertility patients, family practices, and others.
Syringes Market: Regional Insights
North America is the most dynamic, highly competitive and the largest market for syringes globally. The major driving factor, which has driven the growth of the syringes market in this region, is the rising prevalence of chronic disease and increasing acceptance for specialized injecting devices. Growth in the region is mainly backend by the U.S followed by Canada and Mexico. European syringes market had been the most dynamic region in 2018. Europe is expected to grow at a steady rate within the forecast period. Asia-Pacific region remains bright, and the industry is projected to grow at the highest CAGR during 2018-2023. The high prevalence of chronic diseases such as kidney disease, obesity, diabetes, and others mainly attribute this growth. ROW also shows a steady rise in the market owing to the rising demand for diagnostic services, and a growing emphasis on diagnosis and treatment of chronic disease.
Syringes Market: Competitive Analysis
The global syringes market is highly competitive. The prominent players in the global syringes market are Baxter Healthcare Corporation, Becton, Dickinson And Company, Nipro Medical Corporation, Smiths Medical, B. Braun Melsungen Ag, Retractable Technologies, Inc., Jmi Syringes & Medical Devices Limited, Boston Scientific Corporation, Terumo Medical Corporation, and Medtronic Plc. Product innovation and acquisitions & mergers are the key parameters to remain competitive and to gain greater market share.
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Global Syringes Market- Trends, Price, Share and Growth Rate from 2018 to 2024
A recent report published by Infinium Global Research on syringes market provides in-depth analysis of segments and sub-segments in the global as well as regional syringes market. The global syringes market is projected to grow at a CAGR of 8.9% over the forecast period of 2018-2024.