Industry Background:
A syringe is a medical device that is used to inject fluid into or withdraw fluid from, the body. A medical syringe comprises a needle attached to a hollow cylinder that is fitted with a sliding plunger. The descendent movement of the plunger injects fluid; upward movement withdraws fluid. Medical syringes were once made of metal or glass, and requisite cleaning and sterilization before they could be used again. Nowadays most syringes used in medicine are plastic and disposable.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Becton, Dickinson and Company (United States), B. Braun Melsungen AG (Germany), Gerresheimer (Germany), Hindustan Syringes & Medical Devices Limited (India), Terumo Corporation (Japan), Nipro Corporation (Japan), Schott AG (Germany), Medtronic plc (Ireland), Smiths Medical (United States) and Medline (United States) |
According to AMA, the market for Medical Syringe is expected to register a CAGR of 8.7% during the forecast period to 2030. This growth is primarily driven by Growing Incidence of Chronic Diseases and Increasing Trend towards Plastic Pre Filled Syringes.
Globally, a noticeable market trend is evident Technological Advancements Spur Evolution in the Syringes
Major Players, such as Becton, Dickinson and Company (United States), B. Braun Melsungen AG (Germany), Gerresheimer (Germany), Hindustan Syringes & Medical Devices Limited (India), Terumo Corporation (Japan), Nipro Corporation (Japan), Schott AG (Germany), Medtronic plc (Ireland), Smiths Medical (United States) and Medline (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies.
Key Developments in the Market:
In January 2021, Aurobindo Pharma Limited announced that the company has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Naloxone HCl Injection Prefilled Syringe 2 mg/2 mL.
In July 2020, Cipla received approval for generic version of Shire's Firazyr (Icatibant Injectable Pre-Filled Syringe 30mg/3mL). It is indicated for the treatment of acute attacks of hereditary angioedema (HAE) in adults 18 years of age and older.
Regulatory Insights:
In August of 1997, EPA promulgated regulations creating stringent emission standards for medical waste incinerators due to significant concerns over detrimental air quality affecting human health. EPA’s Office of Air Quality Planning and Standards continues to review and revise the Hospital Medical Infectious Waste Incinerator (HMIWI) standards as required most recently in May of 2013.
Influencing Trend:
Technological Advancements Spur Evolution in the Syringes and Growing Need for Further Advancements in Safety Syringes
Market Growth Drivers:
Growing Incidence of Chronic Diseases and Increasing Trend towards Plastic Pre Filled Syringes
Challenges:
Rising Focus towards Development of Alternative Drug Delivery Methods
Restraints:
High Cost of Medical Syringe
Opportunities:
Developing Healthcare Infrastructure among the Developing Countries
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Medical Syringe Market
- Analysis about New Entrants in Medical Syringe Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Medical Syringe Study Sheds Light on
The Medical Syringe Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Medical Syringe industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Medical Syringe industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.