Global Syringes Market was worth USD 10.2 billion in 2016 and is expected to reach USD 15.6 billion by 2021 with a CAGR of 8.4 %.
Syringes are Sterile devices used to inject various types of drugs into the body. They are also used to isolate various types of body fluids, like from a swollen tissue. Normally, Syringes are used in conjunction with needles.
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Rising Prevalence of Chronic diseases, rising geriatric population, and technological advancements in Syringe drug delivery are some of the factors driving the market. Increasing prevalence of Diabetes resulted in higher demand for syringes. However, factors like Risk of infection associated with Drug delivery through syringes, high costs of specialized syringes are restraining the market.
Syringes Market is segmented based on Usability, Material and Type. Based on Usability, market is further segmented into Sterilizable/reusable Syringes, Disposable Syringes, prefilled Syringes. Based on Sterilizable Syringes, market is further segmented into hypodermic Syringes, oral Syringes. Based on Disposable Syringes, market is further segmented into conventional Syringes, safety Syringes, prefilled Syringes. Based on Safety Syringes, market is further segmented into Retractable Syringes, Non-Retractable Syringes. Based on Material, market is segmented into Glass and plastic. Based on Type, market is segmented into General, Specialized Syringes. Based on Specialized Syringes, market is further segmented into insulin, tuberculin, Allergy and Others. The Disposable Syringes segment is expected to command a larger share owing to the increasing use of injectable in drug delivery, Rising geriatric population and increased risk of infection with reusable syringes.
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Geographically, market is segmented into Asia-Pacific, Europe, Latin America, North America and Middle East and Africa. North America dominates the market with the highest share followed by Europe. However, Asia-Pacific is expected to increase at highest CAGR owing to growing technological advancements, growing number of healthcare facilities and rapid growth in aging population.
Becton, Dickinson and Company, Terumo Corporation, Medtronic plc, Smiths Medical, B. Braun Medical Inc., NIPRO Corporation, Hindustan Syringes & Medical Devices Limited, Gerresheimer AG, SCHOTT AG, and CODAN Medizinische Geräte GmbH & Co KG are some of the key players operating in the syringes market.
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