Syringes Market Growth, Share, Demand and Forecast to 2022

OTC Cough, Cold & Allergy Medicine Market

A syringe is a medical device used for injecting fluids into the body, or to withdraw fluid from the body. A typical medical syringe has a needle attached to a hollow cylinder, which is fitted with a sliding plunger. By pushing the plunger in downward movement, the fluids are injected in a body, and retracting the plunger in upward direction extracts fluids from the body.

Invasive nature of medical procedures might frighten patients at first, but injecting medications turns out to be the healthier option over tropical application or oral intake. Supporting this notion, syringes continue to be a key product in the healthcare industry, offering optimum drug administration with minimal discomfort. Concurring to such particulars, the Fact.MR report on global syringes market predicts that the global demand for syringes will continue to surge in the years to come.

According to the report, more than US$ 11 Bn worth of syringes will be sold in the world by the end of 2017. With increasing advancements in drug administration techniques, surgical industries will witness the emergence of new, multifunctional syringes, which will incidentally have a promising influence on the growth of global syringes market. Through 2022, the global market for syringes will have soared at 7.8% CAGR, procuring revenues worth more than US$ 16.5 Bn.

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Easy usability of standard syringes have made them a household commodity as consumers are attaining proper training, and administrating common vaccines by themselves. Meanwhile, medical organizations are prompting surgeons & medical practitioners towards higher adoption of specialized syringes. Unlike standard syringes, their specialized counterparts are successfully lowering healthcare costs by performing multiple injection functions at the cost of a single syringe. While their influence in cutting the medical bills of patients is marginal, specialized syringes are certainly drawing more adoption for their effectiveness.

In 2017 and beyond, more than 30% of global syringes market will procure its value through global sales of specialized syringes. The report, however, doesn’t understate the dominance of general syringes in the global market. With the largest revenue share, general syringes are expected to contribute more than US$ 3.5 Bn revenues to the global market by the end of 2022.

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The report has also profiled leading players in the global syringes market, which include companies such as B. Braun Melsungen AG, Becton, Dickinson and Company, Gerresheimer AG, Terumo Corporation, Hindustan Syringes & Medical Devices Limited, Nipro Corporation, Medtronic PLC, Schott AG, Codan Medizinische Geräte GmbH & Co Kg, and Schott AG.

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