Syringe Market Size, Share, Analysis Report by Types, Applications and Forecast 2027
The syringe market was valued at US$ 12,649.46 million in 2019and is projected to reach US$ 26,859.34 million by 2027; it is expected to grow at a CAGR of 9.8% from 2020to 2027.
The syringe market was valued at US$ 12,649.46 million in 2019 and is projected to reach US$ 26,859.34 million by 2027; it is expected to grow at a CAGR of 9.8% from 2020 to 2027. Based on syringe type, the market is segmented into luer lock syringes, glass syringes, luer slip syringes, and others. In 2019, the glass syringes segment held the largest share of the market. The segment is expected to grow at the fastest CAGR during the forecast period. This segment is likely to witness a lucrative growth owing to low mechanical tolerance, and smooth movement of the plunger. Furthermore, properties of glass, such as nonreactive nature and heat and chemical resistance, are contributing to the growth of this segment. Moreover, glass syringes are highly compatible with various drug filing devices and are easy to manufacture, which makes them the most preferred syringes in market. In March 2019, Gerresheimer AG launched metal free 1 ml long Luer lock Gx RTF glass syringes to deliver highly complex, protein-based bioengineered molecules.
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In the last few years, the health care sector has witnessed SARS, H1N1 and other outbreaks. However, the severity of the coronavirus makes the situation more complex. Additionally, with no vaccine in market and only preventive measure to self-isolation is hitting the various industries including Syringe manufacturing in the region. The US and Canada have witnessed spike in cases in just few days, which has compelled the governments to shut down all the business in order to prevent the spread of the virus.. As of July 2020, in the US, more than 5.0 million confirmed corona cases were recorded and more than 160 thousands deaths were reported due to COVID 19 Pandemic. The syringe market is expected to be hit by the pandemic the most due to increasing number of cases and lockdown in most of the cities.
Becton, Dickinson and Company ; Baxter International Inc.; Terumo Corporation; Vita Needle Company; Cardinal Health Inc.; NIPRO; RETRACTABLE TECHNOLOGIES, INC.; B. Braun Medical Inc.; AIR-TITE PRODUCTS CO., INC.; and HENKE-SASS, WOLF Ltd., are among the leading companies operating in the syringes market.
Our report on Syringe Market cover following key parameters:
Comprehensive market analysis at global, regional and country level
Detailed PEST (Political, Economic, Social and Technological) factors impacting the market across key geographic regions such as North America, Europe, Asia Pacific, Middle East & Africa, and South America
Market dynamics (drivers, restraints, opportunities, and future trends) and impact analysis of drivers and restraints at short-term, mid-term and long-term
In-depth market segmentation and deep dive regional and country level analysis of 18+ countries across 5 key regions
Key company profiles and industry landscape to provide latest market initiatives and competitive landscape
Impact of COVID`19 pandemic on ecosystem and the market
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