Seattle, WA -- (SBWIRE) -- 11/11/2019 -- Syringes are medical tool, which consist of needles connected to a hollow cylinder that is fixed with a sliding plunger. It is used to administer fluid doses inside the body and also used to withdraw fluid from the body. Technically, they are made up of plastic and high-end syringes are made up of glass materials. E.g. microliter, which is a high-end syringes. They are broadly used across the healthcare industry by physicians and surgeons.
The global syringes market is expected to witness significant growth, owing to rising application of the medical test for diagnosis of a disease, which requires administration of doses through intravenous route. According to the National Health Council, around 75% of the total healthcare costs are a result of chronic diseases representing a rising demand for proper healthcare requirements in terms of quality, safety, and sterility of medical devices. According to the same source, in 2014, around 133 million people were affected by chronic diseases in the U.S.
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Disposal syringes segment held dominant position in the market, owing to its ability to deliver highly effective prevention against infection as compared to reusable syringes. Moreover, the segment growth can also be attributed to its advantage of easy availability and cost-effectiveness rate. Specialized syringes segment is projected to gain traction in the market, owing to its high performance and accuracy to deliver fluid as compared to general syringes.
Geographical segmentation covers North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America held the dominant position in the global syringes market, followed by Europe. This is owing to easy availability of advanced medical facilities and large number of healthcare centers in the U.S. region. Moreover, rising government support in the form of initiatives to enhance the facilities of healthcare in the region is also presumed to propel the growth of the market in North America.
For instance, the Needlestick Safety and Prevention Act in the U.S. offers regulatory guidelines to help manufacturers for improving the safety of syringes. At the same time, Asia Pacific region is projected to gain significant growth rate over the forecast timeline owing to advancement in technology for developing improved and cheaper syringes and rising awareness among consumer regarding the safe use of syringes during procedures.
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Rising prevalence of infectious and chronic disease such as diabetes and cancer, which require syringes for continuous diagnosis is the prime factor fueling the market growth. For instance, according to the World Health Organization (WHO), in 2014, around 422 million people were suffering from diabetes worldwide. Most of these patients were recommended for regular intravenous administration of insulin, which in turn is propelling the demand for syringes hence boosting growth of the global syringes market. On the contrary, the advent of advanced technology such as diffusion pumps and needle-free IV connectors, which reduce the need of administering fluid through a syringe is expected to hinder the market growth over the forecast period.
Major players operating in the global syringes market include Treumo Corporation, Medtronic Plc, Becton, Dickinson and Company, B. Braun Medical Inc., Smiths Medical, Hindustan Syringes and Medical Devices Limited, NIPRO Corporation, Hamilton, SCHOTT AG, Gerresheimer AG, and Codan Medizinische Gerate GmbH & Co KG.
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