Syringes Industry Data Book Covers Prefilled Syringes, Disposable Syringes, Dental and Micro Syringes Market
The global Syringes industry generated over USD 43.98 billion in 2022 and is expected to grow at a CAGR of 9.02% over the forecast period.
Access the Global Syringes Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies
Disposable Syringes Market Growth & Trends
The global disposable syringes market size is anticipated to reach USD 22.81 billion by 2030, registering a CAGR of 6.21% over the forecast period, according to a new report by Grand View Research, Inc. The market is expected to expand due to the increasing adoption of safety syringes, technological advancements, increasing demand for vaccines along with growing adoption of self-administration of drugs are supporting the market growth of disposable syringes.
The COVID-19 pandemic has resulted in a significant surge in demand for emergency supplies, medical disposables, medicines, and hospital equipment. As a result of COVID-19, there has been an increase in the production of COVID-19 vaccines, resulted in rise in demand for disposable syringes. In January 2020, in the U.S alone, the Biomedical Advanced Research and Development Authority (BARDA) projected that 650 million to 850 million needles and syringes would be required to administer a vaccination. This in turn, positively impacted the market growth and is estimated to continue to be a growth driver. Moving forward, organizations like United Nations Children's Fund (UNICEF) aimed to purchase 1 billion syringes by the end of 2021 for COVID-19 vaccination operations in COVAX Facility nations. The syringes will all be of the auto-disable (AD) type, as permitted by the World Health Organization, notwithstanding the fact that the vaccines secured by the Facility may vary in their composition and storage needs. As a result, market growth is expected to accelerate in the near future.
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Prefilled Syringes Market Growth & Trends
The global prefilled syringes market size is anticipated to reach USD 50.83 billion by 2030, expanding at a CAGR of 11.94% from 2023 to 2030, according to a new report by Grand View Research, Inc. Key factors driving the market expansion include technological advancements in auto-injectors and growing usage of prefilled syringes owing to its reduced prices per dose.
The current COVID-19 outbreak is expected to have a substantial impact on the industry. The pandemic has resulted in a significant surge in demand for emergency supplies, medical disposables, medicines, and hospital equipment. According to American Pharmaceutical Review in December 2021, COVID-19 vaccines are being created at an unprecedented rate in response to the worldwide pandemic. COVID-19 vaccination doses totaled 7.3 billion by November 9, 2021, with approximately 30.3 million doses provided daily.
As a result of COVID-19, there has been an increase in the production of COVID-19 vaccines, resulting in increased demand for prefilled syringes. For instance, in March 2022, Schott announced further investments in its pharma sector, including expanding its capacity in Hungary for prefillable glass syringe production. The increased capacity is likely to benefit the global market and provide greater supply security for major pharmaceutical corporations and contract manufacturing firms. As a result, due to the outbreak of coronavirus infection in 2020, sales of prefilled syringes increased globally.
Competitive Landscape
Key players operating in the Syringes industry are:
- Nipro Corporation
- Medtronic
- Baxter International, Inc.
- Braun Melsungen AG
- Dentsply Sirona
Grand View Research’s Syringes Industry data book is a collection of market sizing information & forecasts, regulatory data, reimbursement structure, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.
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Grand View Research, U.S. based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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