According to Goldstein Research, major factors driving the market of syringe are increasing number of tests for diseases such as diabetes, arthritis, HIV, hepatitis, multiple sclerosis and malaria. Self administration trend, distillation of blood, vaccination, infusing of insulin, governing anesthesia etc are responsible to drive the syringe market.
On the basis of products, general syringes acquire 51% market share in 2016 due to rising inclination of population towards self administration. Market value of general syringes is expected to reach USD 7.14 billion by 2024 from USD 2.55 billion in 2016.
The medical disposables market was approximately USD 225 billion in 2016, in which global syringe market will grow from USD 5 billion in 2016 to USD 14 billion by 2024 at a CAGR of 15 % over the forecast period i.e. 2016-2024.
Geographically, Asia Pacific is the fastest growing region and is anticipated to grow at a CAGR of 9.65% over the forecast period (2016-2024) owing to rising number of ageing population and favorable regulatory policies for new injectables.
Advancement in syringes by various key players: Innovation
Various new syringes are coming in market by key players such as Terumo a Europe based company has recently launched “Plajex” a pre filled syringe. Plajex syringe is user friendly which also provides patients and healthcare providers with an easy grip twist-off tip cap.
“Global Syringes Market Outlook 2024” contains detailed overview of the global syringes market in terms of market segmentation by type, by products, by material and by end user.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
Global Syringes Market Report also provides competitive outlook of some of the major players which includes profiling of companies such Braun Medical, Inc, Becton, Dickinson and Company, B. Braun Melsungen AG, Terumo Corporation, Smiths Medical, Terumo Corporation, Medtronic plc, Smiths Medical, Schott AG, Codan Medizinisch etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global syringes market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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