Market Size of Insulin Syringes Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 2.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Insulin Syringes Market Analysis
The Insulin Syringes Market is expected to register a CAGR of more than 2% during the forecast period and a revenue of USD 2.3 billion in the forecast period.
COVID-19 substantially influenced the syringe industry due to an increase in vaccine development, which resulted in higher demand for syringes. Because the pandemic had upset the whole healthcare system, the sector faced a scarcity of syringes that met the needs of the enormous patient pool. For example, according to a UN report published in November 2021, if approximately seven billion people require two doses of coronavirus vaccine over the vaccination period, a shortage of at least one billion syringes is possible if manufacturing does not improve. However, the market is moving now that the pandemic's limitations have been loosened and the spread has decreased.
- Diabetes is a chronic disorder characterized by high blood glucose levels caused by an inability to efficiently generate or use insulin. Type-1 diabetes and type-2 diabetes are the two most common kinds of diabetes. Insulin treatment is essential for patients with type 1 diabetes because it replaces the insulin the body does not make. Insulin therapy is required for people with type 2 diabetes or gestational diabetes if other therapies, such as diabetes drugs and lifestyle modifications, are unable to keep blood glucose levels within the recommended range. Diabetes therapy tries to keep blood glucose levels healthy to avoid short- and long-term problems such as cardiovascular disease, renal disease, blindness, and lower limb amputation. Insulin syringes are designed for self-injection and provide a dependable insulin solution. An insulin syringe comprises three parts: a needle, a barrel, and a plunger. To lessen the discomfort of the injection, needles are typically short and thin.
Insulin Syringes Industry Segmentation
Insulin syringes are used for self-injection and come in a variety of sizes to help administer various insulin dosages. Insulin Syringes Market is segmented into geography (North America, Europe, Latin America, Middle East and Africa, and Asia-Pacific). The report offers the value (in USD) and volume (in units) for the above segments. Further, the report will cover a segment-wise breakdown (value and volume) for all the countries covered under the Table of Contents.
| Device | |
| Insulin Syringe |
| Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| Latin America | |
| Middle-East and Africa |
Insulin Syringes Market Size Summary
The insulin syringes market is poised for steady growth, driven by the increasing prevalence of diabetes and the essential role of insulin therapy in managing this chronic condition. The market landscape has been shaped by the COVID-19 pandemic, which highlighted the critical demand for syringes, particularly during vaccine rollouts. As healthcare systems stabilize post-pandemic, the focus has shifted back to chronic disease management, with insulin syringes playing a pivotal role in the treatment of type 1 and type 2 diabetes. These syringes are designed for self-injection, offering a reliable solution for insulin delivery, and are available in various sizes to accommodate different dosage requirements. The market is characterized by moderate fragmentation, with key players like Becton Dickinson, Cardinal Health, and Ultimed Inc. driving innovation and market strategies through both organic and inorganic means.
North America is expected to lead the market, supported by the availability of insulin delivery devices and high consumer awareness. The region faces a growing diabetes population, with significant numbers affected by type 2 diabetes, particularly among marginalized communities. The rising incidence of diabetes, especially among younger populations, underscores the need for effective insulin delivery solutions. Companies in the market are actively engaging in research and development to enhance product offerings and improve patient adherence to treatment regimens. Recent collaborations and product launches, such as those by Becton Dickinson and Terumo Pharmaceutical Solutions, highlight the industry's commitment to advancing insulin delivery technologies. As the demand for minimally intrusive diabetes management solutions continues to rise, the insulin syringes market is expected to expand, driven by ongoing innovations and strategic partnerships.
Insulin Syringes Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Device
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2.1.1 Insulin Syringe
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2.2 Geography
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2.2.1 North America
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2.2.2 Europe
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2.2.3 Asia-Pacific
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2.2.4 Latin America
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2.2.5 Middle-East and Africa
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Insulin Syringes Market Size FAQs
What is the current Insulin Syringes Market size?
The Insulin Syringes Market is projected to register a CAGR of greater than 2% during the forecast period (2024-2029)
Who are the key players in Insulin Syringes Market?
Becton Dickinson, Cardinal Health Inc., Trividia Health Inc., Arkray Inc. and Ultimed Inc. are the major companies operating in the Insulin Syringes Market.
