Market Size of Global Syringes And Needles Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR (2024 - 2029) | 6.80 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Syringe and Needle Market Analysis
The Global Syringes And Needles Market is expected to register a CAGR of 6.80% during the forecast period.
The healthcare system had witnessed enormous challenges as a result of the COVID-19 pandemic. All outpatient treatments were postponed or restricted during the COVID-19 pandemic to reduce the risk of viral transmission as most chronic therapies were regarded as non-urgent. However, with the advent of the COVID-19 infection, large-scale vaccinations were performed all over the world, which majorly benefitted the syringes and needles market. According to the World Health Organization, as of September 10, 2022, over 12,589,972,108 vaccine doses have been administered. The large vaccination drive significantly aided in the growth of the studied market.
The market for syringes and needles is growing owing to factors such as the high and rising burden of chronic diseases and infectious diseases, increased adoption of injectable drugs, and technological advancements in syringes by medical device companies.
There is a global burden due to the increasing prevalence of chronic illnesses like cancer, cardiovascular diseases, and diabetes. Cancer is a major disease affecting the global population. According to the GLOBOCAN 2020 report, the total number of people in the world affected by cancer in 2020 accounts for around 19,292,789 cases. The number is estimated to rise to 28,887,940 cases by 2040. The rising number of cancer cases creates a demand for syringes and needles for drug delivery, which is expected to significantly add to the growth of the studied market over the forecast period.
The innovative product launches by the market players are expected to add to the growth of the studied market. For instance, in April 2021, West Pharmaceutical Services, Inc. signed a partnership with Venus Remedies Ltd. to adopt the NovaGuard SA Pro safety system, a single-use accessory for prefilled ISO standard 1mL long staked-needle syringes. Such activities are likely to boost the growth of the syringes and needles market over the forecast period,
However, the increasing number of needle stick injuries and risk of cross-contamination, and the growing number of alternative drug delivery technologies are expected to slow down the growth of the market during the forecast period.
Syringe and Needle Industry Segmentation
As per the scope of this report, the syringe is a device used by medical professionals to transfer liquids into or out of the body. A needle is a thin, hollow tube with a sharp tip that contains a small opening at the pointed end, used to transfer fluids from the syringe. The Syringes and Needles Market is segmented by Type (Syringes (Sterilizable/Reusable Syringes and Disposable Syringes ) and Needles(Hypodermic, Intravenous, Intramuscular, and Others)), Application (Syringes (Insulin administration, Botox, Osteoarthritis, Human Growth Hormone, and Other Applications) and Needles (Blood Collection, Ophthalmic Procedures, Dental, and Other Applications)), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The Market report also covers the estimated market sizes and trends of 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.
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Global Syringes And Needles Market Size Summary
The syringes and needles market is poised for significant growth, driven by the increasing prevalence of chronic and infectious diseases, the rising adoption of injectable drugs, and technological advancements in medical devices. The COVID-19 pandemic, while posing challenges to healthcare systems, also catalyzed market expansion through large-scale vaccination efforts, highlighting the critical role of syringes and needles. The demand for these devices is further bolstered by the growing incidence of conditions such as cancer and diabetes, which necessitate regular drug delivery. Innovative product launches and strategic partnerships among key market players are expected to enhance market dynamics, although challenges such as needle stick injuries and alternative drug delivery technologies may temper growth.
Regionally, North America is anticipated to lead the market, primarily due to the United States, where the high prevalence of cardiac disorders and diabetes drives demand for syringes and needles. The region's growth is supported by a robust pipeline of innovative product approvals. The market is characterized by fragmentation and competitiveness, with major players like B. Braun Melsungen AG, Terumo Medical Corporation, and Becton, Dickinson and Company dominating due to their substantial research investments and distribution networks. Emerging players in the Asia-Pacific region are also contributing to market expansion, reflecting increased awareness and demand. Overall, the market is expected to experience steady growth, supported by ongoing advancements and strategic initiatives.
Global Syringes And Needles 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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1.2.1 High and Rising Burden of Chronic Diseases and Infectious Diseases
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1.2.2 Increased Adoption of the Injectable Drugs
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1.2.3 Technological Advancements in Syringes by Medical Device Companies
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1.3 Market Restraints
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1.3.1 Growing Cases of Needle-stick Injuries and Risk of Cross Contamination
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1.3.2 Availability of Alternate Drug Delivery Methods
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Syringes
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2.1.1.1 Sterilizable/Reusable Syringes
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2.1.1.2 Disposable Syringes
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2.1.2 Needles
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2.1.2.1 Hypodermic
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2.1.2.2 Intravenous
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2.1.2.3 Intramuscular
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2.1.2.4 Others
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2.2 By Application
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2.2.1 Syringes
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2.2.1.1 Insulin administration
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2.2.1.2 Botox
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2.2.1.3 Osteoarthritis
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2.2.1.4 Human Growth Hormone
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2.2.1.5 Other Applications
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2.2.2 Needles
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2.2.2.1 Blood Collection
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2.2.2.2 Ophthalmic Procedures
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2.2.2.3 Dental
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2.2.2.4 Other Applications
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 South Korea
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 Middle East and Africa
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2.3.4.1 GCC
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2.3.4.2 South Africa
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2.3.4.3 Rest of Middle East and Africa
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2.3.5 South America
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2.3.5.1 Brazil
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2.3.5.2 Argentina
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2.3.5.3 Rest of South America
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Global Syringes And Needles Market Size FAQs
What is the current Global Syringes and Needles Market size?
The Global Syringes and Needles Market is projected to register a CAGR of 6.80% during the forecast period (2024-2029)
Who are the key players in Global Syringes and Needles Market?
B. Braun Melsungen AG, Terumo Medical Corporation, Smiths Medical, Inc, Becton, Dickinson and Company and Cardinal Health are the major companies operating in the Global Syringes and Needles Market.
