Syringes and needles are sterile devices that are used to inject solutions into the body. Market Research Future (MRFR) has published a research report about the Global Syringe And Needle Market that anticipates increase for this market with 5.5% CAGR (Compound Annual Growth Rate) between 2017 and 2023.
The key factors enhancing the growth of global syringe and needle market include growing government funding to support clinical trials, growing prevalence of chronic ailments, increasing adoption & demand for safety syringes and needles over conventional reusable syringes and needles, increasing older population, increasing partnerships between biopharma companies and CROs, and investments in the research and development (R&D) that are resulting from these partnerships. However, the factors that can hamper the market growth include high risks of infections associated with the administration of drugs by syringes and needles.
Global Syringe and Needle Market – Competitive Analysis
Companies are continuously inventing new products to capture the market globally. Thus, major players invest more in research and development activity, in order to lead the global market. In this regards, Becton, Dickinson & Company, in 2016, launched first syringe designed for use with Humulin are you-500 insulin which is designed by Eli Lilly & Company. It helps to treat patient with high blood sugar along with diabetes. Companies are investing more into research and development in order to develop quality and advance products, which help them to lead the global market.
Again in 2017, Becton, Dickinson & Company, introduce new 6mm pen needle for injection pens which is named as BD Ultra-Fine. By adding this product in the portfolio company want to ensure the patient that BD has a comprehensive portfolio that provide options and reinforce BD commitment to providing the best solutions possible for people with specific preferences while managing their diabetes.
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
- Smith’s Medical
- Albert David Ltd
- Connecticut Hypodermics Inc.
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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.
Global Syringe and Needle Market – Regional Analysis
The Syringe and Needle Market 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.
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.
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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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