Public Healthcare Initiatives Ensure Steady Growth of the Syringes and Cannulas Market || Key Players: Terumo Corporation, Medtronic Plc., and Smiths Group plc (Smiths Medical).

 The syringes and cannulas market report, recently published by Fact.MR, has compiled recent trends in the medical industry and emerging product innovations that hold significant impact on the futuristic performance of the syringes and cannulas market. A thorough analysis of the supply and demand scenario prevailing across key business regions is covered in the syringes and cannulas market report.

An above-average rise at 4.0% volume CAGR is foreseen for the syringes & cannulas market over the period of forecast, 2018 to 2028, by a new Fact.MR study. Pervasiveness of syringes in terms of the market volume share continues to prevail, whereas the growth rate will also remain higher for these products, compared to cannulas, through 2028. 

North America has traditionally remained the most remunerative market syringes & cannulas, however emergence of Asia-Pacific excluding Japan (APEJ) as a medical tourism hub has paved abundant opportunities for syringes & cannulas manufacturers. The U.S. continues to lead the North American market for syringes & cannulas, whereas majority of APEJ’s syringes & cannulas market continues to remain consolidated in India, trailed by China. The study finds that the U.S., India, and China collectively account for nearly 45% of the overall syringes & cannulas market. 

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Syringes and Cannulas Here-to-Stay amid Emerging Alternatives

Syringes and cannulas are the primary medical instruments used in healthcare facilities for applications ranging from normal drug injections to complex surgeries. Increasing pool of patients and number of surgeries are driving the demand for syringes and cannulas substantially. Further, increasing incidences of chronic diseases such as diabetes and HIV epidemic have fuelled the consumption of syringes and cannulas. Owing to the indispensable nature of syringes and cannulas in the healthcare sector, multiple local manufacturers have emerged in the market to address the broadening gap between demand and suppl

Public Healthcare Initiatives Ensure Steady Growth of the Syringes and Cannulas Market

The syringes and cannulas market is projected to witness steady growth on the back of increasing emphasis on the use of disposable syringes to prevent spread of infectious disease. Initiatives such as NPS, multiple immunization programs and WHO’s use of Smart Syringes by national and international authorities to promote safe use of injections has, in turn, propelled the syringes and cannulas market. The initiatives are addresses at increasing penetration of safe use of syringes and cannulas and huge price differences between the distribution purchase and retail prices. For instance, the National Pharmaceutical Pricing Authority (NPPA) in India estimated a mark-up of 664% in retail prices of syringes in FQ 2018. Following the statistics, the Department of Pharmaceutical is expected to regulate the pricing. On the other hand, the government is expected to initiate use of auto-disable syringes to control spread of infection through disposable syringes.

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Segmentation

The segmentation section of the syringes and cannulas market report offers vital information regarding all the market segments and sub-segments mentioned in the syringes and cannulas market taxonomy.

Competitive Landscape

The competitive landscape section of the syringes and cannulas market report profiles key players operating in the global syringes and cannulas landscape. The section also delivers vital information such as product portfolio, notable business strategies and revenue share of key market players. Few of the profiled players in the syringes and cannulas market include Becton, Dickinson and Company (BD), B. Braun Melsungen AG, Edwards Lifesciences Corporation, Terumo Corporation, Medtronic Plc., and Smiths Group plc (Smiths Medical).

Additional Questions Answered

This section provides the users with additional vital insights of the syringes and cannulas market, apart from the aforementioned key trends.

Which will be the leading product type segment in the syringes and cannulas market?
What are the key strategies adopted by manufacturers to maintain sustainability in the syringes and cannulas market?
How is the syringes and cannulas market developing amid evolving medical technology preferences?
What will be the impact of emerging needleless technology and biobots on the growth of the syringes and cannulas market?
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