Syringes and Needles Market to Witness Steady Expansion by 2020

Syringes and needles are sterile devices used to inject solutions into the body. Syringes and needles are also used to isolate various types of body fluids, such as tissues from swollen joints and blood from veins. A syringe is made up of glass or plastic and shaped like a cylinder with a plunger at one end and an opening that attaches to a needle. Needles are hollow metal tube with a pointed tip.

The global syringes and needles market is categorized based on their therapeutics applications. The therapeutic application segment is segmented into different types of syringes and needles which are used in administration of drugs and antibiotics in various medical conditions. It includes blood collection syringe and needles, hypodermic syringes and needles, insulin syringes and needles and port access needles.

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In terms of geographic, North America and Europe dominates the global syringes and needles market. This is due to various governments legislative reforms are providing regulatory guidelines to manufacturing companies. For instance, in the U.S., Needlestick Safety and Prevention Act provides specific regulatory guidelines to syringe and needle manufacturers for the development of safety syringes. The U.S. represents the largest market for syringes and needles followed by Canada in North America. In Europe, France and Germany holds major share of syringes and needles market. However, Asia is expected to show high growth rates in the next five years in global syringes and needles market due to increasing aging population. China and India are expected to be the fastest growing syringes and needles markets in Asia.

In recent time, increasing prevalence of chronic diseases, aging population and technological advancements in syringes and needles based drug delivery are some of the major drivers for the global syringes and needles market. For instance, according to an article published by the National Center for Biotechnology Information (NCBI), diabetes affected 285 million people worldwide in 2010 and the number is expected to reach 439 million by 2030. This increasing prevalence of diabetes has resulted in significant rise in demand of insulin syringes and needles to maintain blood glucose level in diabetics. However, high risks of infections associated with administration of drug delivery by syringes and needles obstruct the growth of the global syringes and needles market.

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In addition, increased risk of needle stick injuries and availability of alternatives also hampers the growth of global syringes and needles market. Rapid product launches and increasing mergers and acquisitions between manufacturing companies and government associations are some of the major trends for the global syringes and needles market.

Some of the major companies operating in the global syringes and needles market are Becton, Dickinson and Company, B. Braun Melsungen AG, Terumo Corporation and Smiths Medical.

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This release was published on openPR.