New York, NY -- (SBWIRE) -- 04/26/2021 -- Syringes and Needles Market Size – USD 18.76 billion in 2018, Market Growth - CAGR of 6.7%, Market Trends – Increase in geriatric population

The global syringes and needles market is expected to reach USD 34.12 Billion by 2027, according to a new report by Reports and Data. Syringes and Needles are used for various purposes such as drug administration for many diseases and are used by both healthcare professionals and patients themselves. They have become popularly accepted with the advancements in therapy and a supportive reimbursement structure in many nations.

According to the World Health Organization (WHO), from 2015 to 2050, the aged population across the globe will be rise from 12% to 22% of the total global population. Owing to this, the incidence of target diseases such as chronic diseases is expected to grow and, in return, will boost the demand. An increase in healthcare expenditure across the globe also supports the adoption of user-friendly technologies.

Diabetes and its complications, societal costs, and deaths have a huge and rapidly growing impact across the globe. In 2019, around 463 million adults in the age group of 20 years to 79 years were living with diabetes and by 2045, this is expected to rise to 700 million. 79% of adults with diabetes were living in low- and middle-income countries Diabetes caused 4.2 million deaths. According to the American Diabetes Association, the annual healthcare cost in the U.S. increased by 26% during the last five years due to increased diabetes incidences.

The Center for Disease Control and Prevention (CDC) reports diabetes as the seventh leading cause of death among Americans as of 2019. Diabetes is no more limited to the rich nations and is becoming most significantly in low-middle income countries. Diabetes has become one of four high priority Non-Communicable Diseases (NCDs) targeted for action by leaders across the globe.

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Leading Players Profiled in the Report Include:

Braun Melsungen AG, Terumo Corporation, Smiths Medical, Albert David Ltd., Becton, Dickinson, and Company, DeRoyal, Insulet, Connecticut Hypodermics Inc., Medtronic, and Schott AG, among others.

Further key findings from the report suggest

By product type, blood collection syringes and needles contributed to significant market share in 2018 and is likely to grow at a rate of 5.9% in the forecast period. Syringes and needles are often used for collecting blood samples. A syringe with a syringe needle is sometimes deployed to collect blood from patients with small or fragile delicate veins. Collecting blood with a syringe and needle is particularly useful when the phlebotomist needs to control the amount of applied vacuum to reduce or prevent the chance of the vein collapsing.

Reusable syringes and needle are those which can be used more than and particularly require serialization. Reusable syringes or needles, with proper care, can offer more extended service.

By end-users, hospitals contributed to the largest market share in 2018 and is likely to grow at a rate of 6.4% in the forecast period. The factors including well-resourced operating & diagnostic rooms, higher purchasing power, existence of highly skilled healthcare professionals, and improved health coverage for hospital-based healthcare services from several private and group insurance plans, among others, are responsible for the high market share of hospitals.

The market in the Asia Pacific region is expected to grow at the fastest rate of 8.0% in the forecast period, due to the improving healthcare infrastructure, rising investments by market players, and better reimbursement scenario.

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For the purpose of this report, Reports and Data have segmented the global syringes and needles market on the basis of product type, usage, end-users, and region:

Product Type Outlook (Revenue, USD Million; 2016-2027)

Blood Collection Syringes and Needles
Bone Marrow Syringes and Needles
Ophthalmic Syringes and Needles
Catheter Syringes and Needles
Others Syringes and Needles

Usage Outlook (Revenue, USD Million; 2016-2027)

Reusable
Disposable

Distribution Channel Outlook (Revenue, USD Billion; 2016-2026)

Retail
Non-retail

End-Users Outlook (Revenue, USD Million; 2016-2027)

Hospitals
Clinics
Diagnostic Centers
Others

Regional Outlook (Revenue, USD Million; 2016-2027)

North America
U.S
Europe
U.K
France
Asia Pacific
China
India
Japan
Latin America
Brazil
MEA

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Table of contents

Chapter 1. Market Synopsis

    1.1. Market Definition

    1.2. Research Scope & Premise

    1.3. Methodology

    1.4. Market Estimation Technique

Chapter 2. Executive Summary

    2.1. Summary Snapshot, 2018-2027

Chapter 3. Indicative Metrics

Chapter 4. Syringes and Needles Segmentation & Impact Analysis

    4.1. Syringes and Needles Material Segmentation Analysis

    4.2. Industrial Outlook

          4.2.1. Market indicators analysis

          4.2.2. Market drivers analysis

                  4.2.2.1. Growing incidences of chronic diseases

                  4.2.2.2. Growing prevalence of diabetes

                  4.2.2.3. Rise in the demand for pre-filled syringes

                  4.2.2.4. Increase in geriatric population

                  4.2.2.5. Increased usage of injectable drugs

          4.2.3. Market restraints analysis

                  4.2.3.1. Cost-prohibitive disposable products

                  4.2.3.2. Rising Incidences of needle stick injuries

    4.3. Technological Insights

    4.4. Regulatory Framework

    4.5. ETOP Analysis

    4.6. Porter's Five Forces Analysis

    4.7. Competitive Metric Space Analysis

    4.8. Price trend Analysis

…………….

Chapter 10. Competitive Landscape

    10.1. Market Revenue Share by Manufacturers

    10.2. Manufacturing Cost Breakdown Analysis

    10.3. Mergers & Acquisitions

    10.4. Market positioning

    10.5. Strategy Benchmarking

    10.6. Vendor Landscape

Chapter 11. Company Profiles

    11.1. B. Braun Melsungen AG

            11.1.1. Company Overview

            11.1.2. Financial Performance

            11.1.3. Technology Insights

            11.1.4. Strategic Initiatives

    11.2. Terumo Corporation

            11.2.1. Company Overview

            11.2.2. Financial Performance

            11.2.3. Technology Insights

            11.2.4. Strategic Initiatives

    11.3. Smiths Medical

           11.3.1. Company Overview

           11.3.2. Financial Performance

           11.3.3. Technology Insights

           11.3.4. Strategic Initiatives              

Continued…………..

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