Syringes and Needles are sterile devices used to inject solutions into the body. Syringes and needles are also used to segregate various types of body fluids, such as tissues from joints and blood from veins. Global syringe and needle market is expected to grow at a CAGR of 5.5% during the forecast period.
The Global Syringe and Needle Market is driven by the growing prevalence of chronic diseases such as diabetes, cancer, chronic intestinal diseases, along with the growing government funding to support clinical trials. Additionally, the increasing older population, the increasing adoption and demand for safety syringes and needles over conventional reusable syringes and needles, increasing partnerships between biopharma companies and CROs, and investments in the R&D segment are likely to propel the growth of the global syringe and needle market.
For instance, according to the Federal Funding for Biomedical and Related Life Sciences Research, 84% of the National Health Institute’s (NIH), funding is distributed through 60,000 researchers. Additionally, the National Center for Biotechnology Information (NCBI) estimated that the population affected with diabetes is expected to reach 439 million by 2030. These growing government funding to support research and development and the rising prevalence of diabetes are likely to enhance the growth of the global syringe and needle market.
However, high risks of infections associated with the administration of drugs by syringes and needles are likely to hamper the growth of the global syringe and needle market.
Global Syringe and Needle Market – Key Players
Some of the players in the Syringe and Needle market are B. Braun Medical Inc., Covidien Plc, Terumo Corporation, Smiths Medical, Albert David Ltd, and Connecticut Hypodermics Inc.
Global Syringe and Needle Market – Regional Analysis
The Market of the Syringe and Needle is much higher in the Americas region. There is a huge population which is suffering from chronic disease such as diabetes, cancer and also better awareness of healthcare increase the demand of syringe and needle market in this region. According to National Cancer Institute, in 2016, the U.S. diagnosed around 1,685,210 new cases of cancer, and in 2014, around 15,780 children and adolescents ages 0 to 19 were diagnosed with cancer and 1,960 died of the disease.
Europe is also considering the huge market for syringe and needle market players, owing to present of huge population affected with chronic disease. Additionally, market players from this region are involved in the export of their product in developing regions. Government is more focused to educate their public in order to minimize the patient population.
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Asia Pacific and the Middle East and Africa region are considering the big market. Whereas country like India and china of Asia Pacific region are considering fastest growing region due to the presence of huge population suffering with diabetes, cancer, and cardiovascular disease. Additionally, countries from this region looking forward to adopt advanced technology and treatment from developed nation in order to improve the quality of life for their citizen. Whereas the Middle East and Africa are the low market due to his incapability of investment.
Global Syringe and Needle Market – Segments
The Global Syringe and Needle Market is segmented on the basis of type, therapeutic application, usability, and end-user.
On the basis of type, the market is segmented into blood collection needles, ophthalmic needles, bone marrow needles, catheter needles, dental needles, epidural needles, AV fistula needles, pen needles, fine aspirating needles, biopsy needles, intravenous needles, spinal anesthesia needles, and suture needles.
On the basis of therapeutic application, the market is segmented into general surgery, diagnostic, respiratory, orthopedics, cardiovascular, dental, neurology, ophthalmology, urology, and others.
On the basis of usability, the market is segmented into disposable and reusable.
On the basis of end-user, the market is segmented into hospitals and clinics, diagnostic centers, home care, and others.
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Major Table of Content
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.1 Definition
2.2 Scope of the Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
Chapter 3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
Continued….
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