The global Syringe Market Growth Accelerated by Innovation in Automatic Syringes

 

Syringes are medical devices used for injecting or withdrawing fluids from the body, such as medicines, vaccines, blood for transfusions, or fluids from the hospitalized patients. Automatic syringes facilitate controlled injection and reduce injection pain caused by manual force on tissues.

The global Syringe Market is estimated to be valued at US$ 14,839.3 Mn in 2024 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Innovation in automatic syringes is one of the key trends fueling growth of the Syringe Market. Automatic syringes utilize spring mechanism or battery operated motor to inject medicines into the body without manual force. This reduces pain and trauma to tissues during injection. They ensure consistent doses and prevent needle-stick injuries. Major players are focused on developing technologically advanced automatic syringes with improved safety and user-friendliness. For instance, in 2021, PharmaJet introduced multi-disease vaccine syringe powered by spring which can administer up to 5 different vaccines in one visit and eliminate needle reuses. Such innovative products are enhancing syringe safety and ease of use, thereby increasing their adoption. This is expected to drive significant growth of the automatic syringes segment during the forecast period.

Segment Analysis
The syringe market is segmented based on product type, usability, material, application and end user. Within product type, conventional syringes dominate the market owing to their widespread usage and lower costs compared to other syringes. Conventional syringes account for over 60% of the total market share. Disposable syringes are also gaining traction due to prevention of infections from cross contamination.

Key Takeaways
The global syringe market is expected to witness high growth. The global Syringe Market is estimated to be valued at US$ 14,839.3 Mn in 2024 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023 to 2030.

The North America region currently dominates the syringe market owing to presence of developed healthcare infrastructure and favorable reimbursement policies for syringes. However, the Asia Pacific region is expected to witness the highest growth during the forecast period driven by growing healthcare expenditure, rising medical tourism and increasing prevalence of chronic diseases. Countries like India, China and Japan are expected to offer lucrative growth opportunities for players in the syringe market.

Key players related content comprises
Key players operating in the syringe market are Becton, Dickinson and Company, B. Braun Melsungen AG, Gerresheimer, Hindustan Syringes & Medical Devices Limited, Terumo Corporation, Nipro Corporation, Schott AG, Medtronic Plc., Smiths Group Plc., and Codan Medizinische Geräte GmbH & Co Kg.

Becton, Dickinson and Company dominates the syringe market with over 25% market share owing to its diverse product portfolio and strong distribution network across major markets. Terumo Corporation and B. Braun Melsungen AG are other prominent players in the syringe market.

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