Syringes Market

Syringes Market Outlook

The syringes market is anticipated to cross a valuation of US$ 22,487 million in 2023. The market is likely to surpass US$ 54,219.8 million by 2033, at a healthy CAGR of 9.2% from 2023 to 2033.

Drivers:

• The increasing prevalence of chronic diseases and the need for effective drug delivery methods drive the demand for syringes.
• Advancements in syringe materials, needle technologies, and safety features enhance the usability and safety of syringes.
• The emphasis on preventing needlestick injuries and minimizing the risk of infections drives the adoption of safety-engineered syringes.
• The development of healthcare facilities, especially in emerging markets, creates a favorable environment for the growth of the syringes industry.
• Increased awareness among healthcare professionals and patients about the importance of safe injection practices drives the demand for reliable and user-friendly syringes.

Restraints:

• Stringent regulations and quality standards challenge syringe manufacturers in meeting the necessary certifications and approvals.
• The syringes industry is highly competitive, with significant players engaging in mergers, acquisitions, and strategic collaborations to maintain their market position.
• Fluctuations in the prices of raw materials used in syringe production, such as plastics and metals, can impact manufacturing costs and profit margins.
• The proper disposal and management of used syringes present environmental challenges, particularly regarding waste management and the risk of contamination.
• The shortage of trained healthcare professionals capable of administering injections safely and efficiently can limit the adoption of syringe-based therapies.

Opportunities:

• The growing healthcare infrastructure and increasing demand for medical services in emerging economies present significant investment opportunities for syringe manufacturers.
• Investing in research and development to develop innovative syringe technologies can lead to competitive advantages and market differentiation.
• Partnering with pharmaceutical companies for co-development or exclusive supply contracts can provide long-term business opportunities.
• Investing in eco-friendly manufacturing processes and recyclable packaging solutions can appeal to environmentally conscious customers and meet sustainability goals.

Trends:

• The convenience and ease of use offered by prefilled syringes and autoinjectors drive their increasing adoption in various therapeutic areas.
• The focus on healthcare worker safety and infection prevention drives the demand for safety-engineered syringes with features such as retractable needles and needlestick prevention mechanisms.
• Needle-free injection technologies like jet injectors and micro-needle patches are gaining attention for painless and needleless drug delivery.
• Specialized syringes, such as insulin syringes, allergy syringes, and anesthesia syringes, cater to specific medical needs and are experiencing increased demand.
• Integrating digital features, such as electronic dose control, connectivity, and smart tracking, is revolutionizing syringe technology and enhancing patient monitoring and medication adherence.

Syringes are among the most prevalent healthcare products medical professionals use to inject liquids and semi-solid compositions into the bodies of humans and animals. They are also used for withdrawing fluids and cleaning wounds or body cavities.

Although syringes have been in use for quite an extended period, there has been a rapid surge in demand for syringes during the last several years due to the rising usage of disposable syringes, an increase in the number of mass vaccination programs, and the growing trend of self-administration of injections.

Leading syringe manufacturers continuously innovate to develop novel technologies with better features. They are partnering and collaborating with syringe filling machines and syringe label manufacturers to expand their customer base.

2018 to 2022 Syringes Market Outlook Compared to 2023 to 2033 Growth Forecast

According to Future Market Insights, the global syringes industry is anticipated to grow at a healthy CAGR of 9.2% between 2023 and 2033, compared to the 7.6% registered between 2018 and 2022.

The rise in vaccination administration rates worldwide, expansion of the healthcare industry, increasing incidence of chronic and infectious diseases, growing popularity of disposable syringes, and rising preference for injections due to their faster actions are some of the major factors underpinning the growth of the syringes industry.

Besides this, the flourishing insulin syringes industry and the rising penetration of prefilled syringes market across developing regions positively influence medical syringes sales.

Syringes have become widely used across hospitals, research laboratories, drug manufacturing, and clinical research laboratories. They are increasingly used for administering a wide range of healthcare products and withdrawing body fluids required for disease diagnosis or research purposes. Thus, the rising prevalence of chronic and infectious diseases is likely to therefore continue to boost the sales of syringes during the forecast period.

Consequently, the availability of different types of syringes, like disposable and reusable ones with various capacities, is positively impacting the growth of the syringe market. End users can easily choose any syringe type as per their specific requirements.

Similarly, various initiatives are being launched by governments and healthcare organizations like GAVI to enable access to essential vaccines for people. For instance, in December 2021, the United States Agency for International Development (USAID) announced the INITIATIVE FOR GLOBAL VACCINE ACCESS (GLOBAL VAX) to accelerate vaccine access and delivery assistance worldwide.

The expansion of the healthcare industry worldwide, changing attitudes towards vaccinations, advancements in the syringes technologies market, the rising popularity of cyclic olefin polymers (COP) polymer syringes, and the growing need for reducing the mortality rate of some lethal diseases are likely to boost the demand for syringes during the forthcoming years. According to the WHO, immunization prevents around 4-5 deaths yearly.

Based on the abovementioned factors, the syringes industry is projected to surpass US$ 54,219.8 million during the forecast period (2023 to 2033).

Country-Wise Insights

Why is the United States Emerging as a Global Leader in the Syringes Market?

Escalation in the Usage of Self-Administrative Drugs Pushing Sales of Syringes in the United States

According to Future Market Insights, the United States syringes market is expected to create an absolute growth opportunity of US$ 5.7 billion by 2033 and is projected to expand by 2.5X during the forecast period (2023 to 2033).

In 2022, the United States had a sizeable market share of 25.7%, making it one of the most significant players in the syringes industry. Rising sales of syringes across the country can be attributed to the surge in chronic and infectious diseases, increasing usage of self-administered drugs, availability of standard syringes, presence of leading syringes manufacturers, and expansion of markets like prefilled syringes industry, home healthcare market, and insulin syringes industry.

The rising prevalence of chronic and infectious diseases such as diabetes and flu is a major factor boosting the growth of the syringe market. According to the CDC's National Center for Chronic Disease Prevention and Health Promotion (NCCDPHP), 6 in 10 adults in the United States have a chronic disease. People spend billions of dollars annually on insulin injections, flu vaccines, etc.

Precision at its Best: Syringes Industry Trends in Germany

Germany contributed 8.2% to the market share in 2022, highlighting its significant presence in the syringes industry. A key trend observed in the region is the emphasis on quality and precision. German manufacturers prioritize using advanced manufacturing technologies and stringent quality control measures to ensure the production of high-quality syringes. Additionally, there is a growing focus on sustainable manufacturing practices, including using eco-friendly materials and energy-efficient processes.

Synergy of Technology and Care: Syringes Industry Trends in Japan

Japan accounted for 3.8% of the market share in 2022, establishing its importance in the global syringes industry. The region is known for its technological innovation in various sectors, including healthcare. Japanese manufacturers are at the forefront of producing innovative syringe designs that offer improved functionality, precision, and ease of use in the syringe industry. The continuous development of advanced materials, such as self-lubricating plastics and biocompatible coatings, has also contributed to the growth of the syringes industry in Japan.

Empowering Healthcare Delivery: Syringes Industry Trends in Australia

Australia held a market share of 1.5% in 2022, indicating its contribution to the syringes industry. A notable trend in the region is the growing adoption of prefilled syringes. Prefilled syringes offer several advantages, such as reduced medication errors, improved dosage accuracy, and enhanced convenience for healthcare professionals and patients. The increasing demand for self-administered medications and the rise in chronic diseases drive the adoption of prefilled syringes in Australia.

Redefining Accessibility: Syringes Industry Trends in China

China recorded a CAGR of 6.7% in 2022, positioning itself as a notable player in the global syringes market. The country has witnessed a significant shift towards producing low-cost syringes, which cater to domestic and international markets. Chinese manufacturers leverage economies of scale and advanced manufacturing capabilities to offer competitive pricing without compromising quality. Additionally, there is a growing adoption of automation in syringe manufacturing processes, leading to increased production efficiency and cost savings.

Innovation Meets Quality: Syringes Industry Trends in the United Kingdom

The United Kingdom held a market share of 3.7% in 2022, establishing its prominence in the global syringes market. Stringent regulatory standards and a strong emphasis on product quality characterize the region. Manufacturers in the United Kingdom are focused on developing advanced syringe technologies that prioritize patient safety and improve the overall healthcare experience. The growing demand for self-administration syringes and the rise in chronic diseases are driving the market in the region. The United Kingdom's robust healthcare infrastructure and strategic partnerships with pharmaceutical companies contribute to its competitive edge in the syringes industry.

What Makes India a Lucrative Market for Syringes?

High Consumption of Vaccines Fueling the Demand for Disposable Syringes in India

Amid changing attitudes towards vaccination, a rapidly growing population, growing health awareness among people, the surge in numerous diseases, and rapid expansion of the disposable syringes industry, India is set to account for over 35% share of the South Asia syringes industry during the forecast period. Further, a CAGR of 10.5% has been predicted for the India syringes industry by FMI throughout the forecast period.

India is among the fastest-growing economies in the world, with an enormous population of over 1.38 billion. The country is becoming an ideal destination for disposable syringes. Factors such as increasing government initiatives to vaccinate every newborn child, the significant presence of syringe manufacturers, and awareness about the latest syringes market trends are favoring the growth of the syringes industry in India.

Ismail Sutaria

Principal Consultant

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Category-Wise Insights

Why is the Demand for Plastic Syringes Rising?

Growing Threat of Diseases Transmission Spurring the Sales of Syringes

Based on material, the glass syringes segment accounted for the largest share of the global syringes industry in 2022. This is attributable to the rising usage of glass material for making prefilled syringes supported by the rapid expansion of prefilled syringes drug molecules market worldwide.

However, the plastic syringes segment is expected to grow at a much higher CAGR during the forecast period, owing to the rising preference for disposable and cost-effective syringes, increasing usage of plastic syringes during vaccination drives, and the flourishing plastic syringes industry.

Besides this, various advantages, such as high impact resistance and the user-friendly nature of plastic syringes make them ideal for adoption.

Which is the Most Preferred Syringe Type in the Global Syringes Market?

Disposable Syringes to Remain Highly-Sought-After Syringes Type Amid Rising Need for Curbing Disease Transmission

By syringe type, the disposable syringes segment is likely to continue dominating the global syringes industry. This is owing to the rising prevalence of contagious diseases, increasing health awareness among people, expanding disposable syringes, and growing need to prevent disease spread.

FMI predicts the disposable syringe segment to account for around 86.5% share of the syringes industry by 2033, thereby creating an incremental opportunity of US$ 25.3 billion during the forecast period.

Which is the Leading End Use Vertical for Syringes?

Most of the Medical Syringe Sales Remain Concentrated in Hospitals

By end use, the hospital's segment is likely to expand by 2.7X in terms of value by the end of the forecast period. Furthermore, the study predicts the overall sales of syringes in the hospital's segment to grow at 9.3% CAGR between 2023 and 2033, surpassing a valuation of US$ 23.9 billion by the end of 2033.

Factors such as a rapid increase in the number of hospitals worldwide, the growing preference of people to opt for treatments at hospitals, and the rising usage of syringes for numerous purposes in hospitals are triggering the growth of this segment.

How Key Players Stay Competitive in Syringes Industry?

The syringes industry is marked by intense competition, with numerous players vying for market share. Key companies are constantly innovating and introducing new syringe technologies to stay at the forefront of the market. These companies invest in research and development, manufacturing capabilities, and distribution networks to gain a competitive advantage.

Despite the promising growth prospects, companies in the syringes industry face several challenges. Some of the key challenges include stringent regulatory requirements, particularly related to product safety and quality control. The need for compliance with complex regulations can pose challenges for both established players and new entrants. Market saturation and price pressures also create additional hurdles for companies striving to differentiate themselves and maintain profitability.

The syringes industry presents attractive investment opportunities for existing players and new entrants. The growing demand for advanced syringe technologies, driven by factors such as the increasing prevalence of chronic diseases and the expanding healthcare infrastructure in developing regions, opens avenues for investment. Companies focusing on research and development, product innovation, and strategic partnerships can capitalize on these opportunities and gain a competitive edge in the market.

Recent Developments by Key Players in Syringes Market:

• BD (Becton, Dickinson, and Company are focusing on incorporating advanced safety features in their syringe products. These features help minimize the risk of needlestick injuries and enhance patient and healthcare worker safety.
• Terumo Corporation has recognized the importance of expanding its production capacities in the syringes market. By increasing its manufacturing capabilities, the company aims to meet the rising demand for syringes and maintain a competitive position in the industry.
• West Pharmaceutical Services, Inc. has been actively involved in developing eco-friendly syringes. These syringes are manufactured using recyclable or biodegradable materials, aligning with the company's commitment to sustainability and reducing environmental impact.
• Smiths Medical has been at the forefront of integrating digital technologies into its syringe products. The company aims to enhance medication administration accuracy and improve patient outcomes by incorporating electronic drug delivery systems, smart connectivity, and data tracking capabilities.

How to Scale Businesses in the Syringes Market?

• Embrace Technological Advancements: Stay updated with the latest technologies to improve production efficiency and product quality.
• Focus on Research and Development: Invest in research and development to introduce innovative syringe products that meet customer needs and regulatory requirements.
• Expand Product Portfolio: Diversify syringe types, sizes, and functionalities to cater to different medical applications and attract a broader customer base.
• Enhance Quality Assurance: Implement stringent quality control measures to ensure product safety and reliability.
• Strengthen Distribution Network: Build strong partnerships with distributors and explore new market segments to expand reach and sales.
• Collaborate with Healthcare Providers: Establish strategic collaborations with healthcare providers to gain insights and access to potential customers.
• Invest in Marketing and Branding: Develop effective marketing strategies to create brand awareness and differentiate from competitors.
• Focus on Customer Satisfaction: Prioritize customer needs, provide exceptional customer service, and actively seek feedback for continuous improvement.
• Explore International Markets: Identify opportunities in international markets and adapt products and strategies to meet local demands.Stay Compliant with Regulations: Stay updated with regulatory requirements to ensure compliance and build trust among customers and stakeholders.

Scope Of the Report

Syringes Market By Category

By Material:

• Glass Syringes
• Plastic Syringes

By Syringe Type:

• Disposable Syringes
• Reusable Syringes

By Capacity:

• Small Volume Syringes (1 to 10 ml)
• Medium Volume Syringes (11 to 20 ml)
• Large Volume Syringes (Above 20ml)

By End Use:

• Hospitals
• Research laboratories
• Drug Manufacturing
• Clinical Research

By Region:

• North America
• Latin America
• Europe
• Middle East and Africa (MEA)
• East Asia
• South Asia
• Oceania