Syringes & Cannulas Market to Witness Elevated Growth during the Assessment Period, 2018-2028

Posted on 2018-12-18 by Mark Hub in Healthcare // 0 Comments

Fact.MR

Rockville, US, 2018-Dec-18 — /EPR Network/ — An above-average rise at 4.0% volume CAGR is foreseen for the syringes & cannulas market over the period of forecast, 2018 to 2028, by a new Fact.MR study. Pervasiveness of syringes in terms of the market volume share continues to prevail, whereas the growth rate will also remain higher for these products, compared to cannulas, through 2028. Additionally, majority volume share of worldwide syringes sales is estimated to remain hinged at disposable variants.

Request for Table of Content- https://www.factmr.com/report/2007/syringes-cannulas-market#rep_toc

North America has traditionally remained the most remunerative market syringes & cannulas, however emergence of Asia-Pacific excluding Japan (APEJ) as a medical tourism hub has paved abundant opportunities for syringes & cannulas manufacturers. The U.S. continues to lead the North American market for syringes & cannulas, whereas majority of APEJ’s syringes & cannulas marketcontinues to remain consolidated in India, trailed by China. The study finds that the U.S., India, and China collectively account for nearly 45% of the overall syringes & cannulas market.

India’s preeminence as a manufacturing hub for fast-selling medical consumables such as syringes and cannulas is not confined to Asia, but also remains unabated worldwide. In a move to cut down cost of Indian syringe and cannula brands by more than 50%, a group of domestic manufacturers have decided on voluntary reduction of MRPs apropos of these healthcare consumables. This move rides the coattails of growing debate and speculation over handing the control of medical devices cost to the government. Additionally, the All India Drug Action Network (AIDAN) has demanded the government for immediate imposition of cost control on syringes & needles, along with medical devices notified as commonly used devices. China continues to remain the second-largest syringes & cannulas market in APEJ.

Disposable syringes continue to gain ground in light of myriad factors, ranging from fast evolution of biologics through aggressive research and development activities to their efficacy in easing management of larger patient pool, meanwhile cutting down possibilities of overfills. It is highly likely that future prospects for disposable syringes manufacturers will be optimistic, with the proliferation in drug development efforts apropos of biologics. Demand for reusable syringes, despite sluggish, continues to remain sustained by demand in animal-based research studies. Volume sales of reusable syringes will record less than 2X slower growth, compared to disposable syringes sales through 2028.

Know the methodology behind the report- https://www.factmr.com/connectus/sample?flag=RM&rep_id=1981

The market for cannulas will continue on its sluggishness, with increase in volume sales estimated at just 4 million units in 2018 over 2017, as compared to 572 million units of syringes. While volume share of worldwide cannula sales remain concentrated in variants featuring wings and port, nasal cannula are likely to record a relatively faster growth through 2028. Automatic activation of safety mechanism during the needle withdrawal, coupled with prevention of accidental needleprick injuries to healthcare professionals, is a key attribute of cannulas with wings and port that have sustained their demand in hospitals and clinics.

Nasal cannulas are witnessing higher demand owing to increasing global burden of COPD, with over 3 million deaths estimated worldwide by the WHO in 2015. Additionally, the breakthrough patient-centric solution, which ensures continuous flow of oxygen equivalent to dual-pronged cannula, has led distributors seeking competitive differentiation and innovative products to incorporate the product in their portfolio.

Hospitals continue to hold leading volume shares in the syringes & cannulas market, being the first point for treatment in most countries and affordable access to first-aid medical care. However, syringes & cannulas sales in clinics are likely to pick faster pace through 2028, with investment initiatives focused toward primary healthcare likely to result in growing number of clinics worldwide. Recent approval of US$ 105 Mn equivalent non-reimbursable grants for Government-based primary healthcare strengthening programs is a key aspect underpinning growth of clinics worldwide, which in turn will significantly affect future demand for medical devices such as syringes & cannulas in clinics.

Needleless Connectors and Jet Injectors to Witness Gradual Penetration in Syringes and Cannulas Market

Rapid drug delivery and better outcome required for patients with chronic diseases is providing a fillip for greater investment in advanced medical technologies. Driven by the increasing preference for minimal invasion surgeries, R&D investments are focused on developing next-gen medical instruments such as needleless technologies. Needle-free jet injector delivery system is one of the trending medical technology which received first FDA approval in 2014 for PharmaJet’s injector for a flu vaccine. Further, development of needleless connectors is serving as an efficient alternative of cannulas in term of reduced microbial ingress and integrity maintenance. BD has launched several needleless connectors such as NeutraClear™, SmartSite™ and MaxZero™. CArdina Health has introduced Kendall™ needleless connector. B. Braun Melsungen AG delivers a portfolio of needleless connectors such as InVision-Plus ® IV Connector and SAFELINE® Split Septum.

Public Healthcare Initiatives Ensure Steady Growth of the Syringes and Cannulas Market

The syringes and cannulas market is projected to witness steady growth on the back of increasing emphasis on the use of disposable syringes to prevent spread of infectious disease. Initiatives such as NPS, multiple immunization programs and WHO’s use of Smart Syringes by national and international authorities to promote safe use of injections has, in turn, propelled the syringes and cannulas market. The initiatives are addresses at increasing penetration of safe use of syringes and cannulas and huge price differences between the distribution purchase and retail prices. For instance, the National Pharmaceutical Pricing Authority (NPPA) in India estimated a mark-up of 664% in retail prices of syringes in FQ 2018. Following the statistics, the Department of Pharmaceutical is expected to regulate the pricing. On the other hand, the government is expected to initiate use of auto-disable syringes to control spread of infection through disposable syringes.

Competitive Landscape

The competitive landscape section of the syringes and cannulas market report profiles key players operating in the global syringes and cannulas landscape. The section also delivers vital information such as product portfolio, notable business strategies and revenue share of key market players. Few of the profiled players in the syringes and cannulas market include Becton, Dickinson and Company (BD), B. Braun Melsungen AG, Edwards Lifesciences Corporation, Terumo Corporation, Medtronic Plc., and Smiths Group plc (Smiths Medical).

Prominent players in the syringes and cannulas market are observed to engage in acquisition and mergers to expand their product offering and strengthen market presence. Becton, Dickinson and Company (BD), in 2017, announced the completion of acquisition of C.R.Bard Inc. The combined company is expected to witness growth in the non-U.S. market with Bard’s strong product portfolio and innovation pipeline and BD’s expertise in medication management and infection prevention. Medtronic has announced acquisition of Mazor Robotics to expand its capacity in robotic-assisted procedures in spine surgery.

Grow Your Business From Expert Advice- https://www.factmr.com/connectus/sample?flag=AE&rep_id=2007

About FactMR
FactMR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market insights reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.

Matched content

Editor’s pick