The global Eccentric tip syringe market is expected to register a market value of US$ 15.18 billion in 2023 and is projected to accumulate a valuation of US$ 27.6 billion by exhibiting a CAGR of 6.1 % in the forecast period 2023 to 2033. The eccentric tip syringe market registered a growth of 5 % CAGR in the historical period 2018 to 2022.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 15.18 billion |
| Projected Market Value in 2033 | US$ 27.6 billion |
| Growth Rate (2023 to 2033) | 6.1% CAGR |
Eccentric tip syringes are mostly made of plastic with a transparency feature and are meant for single use. Some advantages of these syringes are that they eliminate the risk of infections from blood-borne pathogens, like HIV, hepatitis, Ebola, and many others. The growth in the market is attributed to the increasing patient population base requiring drug injections or withdrawal of fluids for diagnostic purposes from the body. Moreover, growing awareness about various vaccinations and advancements such as the advent of smart syringes is expected to boost market growth during the forecast period.
Also, due to the growing prevalence of infectious and chronic diseases across the globe, the demand for eccentric tip syringes is expected to rise. Chronic diseases like cancer, diabetes, and heart disease, are major causes of death and disability. This trend will push the market growth ahead. Earlier, disposable syringes were expensive and were used to be manufactured plentifully. For this reason, healthcare professionals had to reuse syringes for different patients. As a result, it was necessary for all doctors/physicians to properly sterilize and sharpen the syringe after each use.
Because of this, many chronic diseases began to spread in the last few years. The demand for disposable eccentric syringes has been accelerated due to this reason which offers numerous benefits over reusable syringes. Since the arrival of eccentric syringes, patients no longer have to depend only on the doctors' sterilization protocols for their safety, as they are discarded after one use. As a result, there is no risk of cross-contamination. Other advantages of eccentric syringes such as low cost and environmental friendliness properties make them a better product, thereby augmenting product sales.
On the other hand, the pandemic has had a significant impact on all industries including the hospital industry. A rise in hospitalization rates has further created new opportunities for market expansion. In addition, growing activities by several NGOs that create awareness about the use of disposable syringes, have positively impacted the market growth.
Region-wise, Asia Pacific is expected to dominate the market by accumulating 44.2 market share by end of the forecast period. Several government measures to guarantee the usage of single-use medical supplies to prevent infections and the strong presence of prominent market participants in the region will help the regional market to grow. Also, the rising aging population and prevalence of chronic diseases in the region coupled with increasing awareness regarding the safety of eccentric tip syringes and other disposable products are likely to fuel sales during the projected period.
The market in North America is expected to grow with a CAGR of 5.7% during the projected period. The growth is attributed to the easy availability of technologically advanced products, robust healthcare infrastructure, and a strong supplier network in the region.
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Recent developments and breakthroughs in technology, mergers, acquisitions, collaborations, and partnerships within the companies involved in manufacturing eccentric tip syringes are expected to create lucrative opportunities for market growth during the forecast period.
The eccentric tip syringe market is forecasted to witness rapid growth owing to the growing number of diseases that require extensive treatment using disposable syringes, especially eccentric tip syringe. The eccentric tip syringe has an offset nozzle that is present on the edge of the syringe barrel.
This allows an attached needle to be closer in line with the wall of the syringe so that the needle is almost parallel to the injection surface. Moreover, many countries especially during the COVID-19 pandemic are providing funding to companies to manufacture all types of disposable syringes for the treatment of patients in the pandemic.
This is anticipated to drive the market growth of the eccentric syringe market exponentially in the coming years. Furthermore, a spike in the number of needle stick injuries and increasing demand for injectable drugs to the lack of conventional drug delivery methods will fuel the growth of the eccentric tip syringe market.
Principal Consultant
General public vaccinations against the COVID-19 pandemic has increased the demand for eccentric tip syringe market tenfold times in the last year and will continue to grow in the future. An increase in several injectable drugs because of the lack of proper surgical provisions for conventional drug delivery methods has also fueled the market demand.
Being a type of disposable syringe, eccentric tip syringe has a lot of application in treating needle sticks injuries where the wound is caused by a sharp object and can cause bloodborne diseases. Moreover, with penetration of not only eccentric tip syringe but all kinds of disposable syringes, sterilization of syringes is not any more of a necessity and it saves a lot of time for doctors and nurses.
Due to which it is highly recommended by all medical professionals around the world, and will increase the demand for eccentric tip syringe in the anticipated period.
Pandemic caused millions of casualties across the globe, governments are spending vast amount of money for vaccine procurement and development. For a population of 7 billion, mass vaccination across the world started and this is a great opportunity for key players to produce eccentric tip syringe in more quantity.
This mass production will also result in innovations in the syringe about length, decreasing the capital involvement which will benefit the manufacturers. Thus increasing the demand for eccentric tip syringe market in the forecasted period.
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The medical industry has seen a change in usage from normal disposable syringes to eccentric tip syringe to decrease needle stick injuries among medical personnel. The recent trend shows that syringes that are not made from BPA, PVC or natural rubber latex are easier to recycle, thus competitors are moving their production towards recyclable syringes.
This is bound to increase sales for the eccentric tip syringe market in the forecasted period.
Global Players:
APAC Players:
The key players adopt various strategies such as product launch, merger & acquisition, expansion, innovation and others to survive and compete in the market:
In years to come, India is bound to increase its manufacturing capacity for disposable syringes which will directly increase the market for eccentric tip syringe. The low cost of raw materials and cheap labour are the main reasons for the rise in orders by global corporations for production through Indian markets.
Furthermore improving and enhancing healthcare facilities along with rising individual healthcare expenditure in India is driving the Indian eccentric tip syringe market.
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Eccentric Tip Syringe Market
