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Syringes Market | Ongoing Trends and Recent Developments | Major Key Players like Terumo Corporation (Japan), Medtronic plc (Ireland), Smiths Medical (U.S.), B. Braun Medical Inc. (U.S.), NIPRO Corporation (Japan)

08-05-2019 09:01 AM CET | Health & Medicine

Press release from: MarketsandMarkets

Syringes Market

Syringes Market

High prevalence of chronic diseases across the globe, rising geriatric population, increasing adoption of safety syringes, technological advancements, and increasing demand for vaccines are supporting the market growth of syringes. However, high cost of safety syringes and increasing incidence of needle stick injuries are the major challenges in the Market.

What the Syringes Market Looks Like?

Predicted to grow at a CAGR of 8.7% during the forecast period, the global Syringes Market is estimated to reach USD 15.99 billion.

On the basis of usability, the global market of syringes is segmented into two broad categories, namely, sterilizable/reusable syringes and disposable syringes. The disposable Syringes Market is estimated to command the larger share of the global Syringes Market in 2016. The large share of this segment can be attributed to the increasing use of injectables as a mode of drug delivery, growing aging population, high infection risks associated with reusable syringes, and increasing inclination towards self-administration.

On the basis of type, the global market of syringes is segmented into general syringes and specialized syringes. The general syringes segment holds a larger share in the market. The global specialized syringes segment is expected to grow at the higher rate from 2016 to 2021. Specialized syringes allow for the accurate delivery of drugs by overfilling or under filling, which is a key reason for its growing adoption among users. In addition, other factors such as the increasing use of injectables as a mode of drug delivery and increasing inclination towards self-administration are driving the growth of the specialized Syringes Market across the globe.

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What Drives the Syringes Market?

The growth of the global market for Syringes is primarily influenced by the following factors:

• High Prevalence of Chronic Diseases
• Growing Geriatric Population
• Technological Advancements
• Increasing Demand for Vaccines
• Rising Focus of Industry Players on Product Lifecycle Management

Geographical growth scenario of Syringes Market:

As of 2016, North America holds the largest share of the global market, followed by Europe. However, the Asia-Pacific market is expected to grow at the highest CAGR of 9.3% from 2016 to 2021. A number of factors such as increasing technological advancement, rising focus of global players on the region, growing number of healthcare facilities, favorable regulatory policies for the approval of new injectables, and rapid growth in the aging population are propelling the growth of the market in the region are propelling the growth of the Asia-Pacific Syringes Market.

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Leading Syringes Market players and strategies adopted:

Becton, Dickinson and Company (U.S.), Terumo Corporation (Japan), Medtronic plc (Ireland), Smiths Medical (U.S.), B. Braun Medical Inc. (U.S.), NIPRO Corporation (Japan), Hindustan Syringes & Medical Devices Limited (India), Gerresheimer AG (Germany), SCHOTT AG (Germany), and CODAN Medizinische Geräte GmbH & Co KG (Germany) are some of the

key players operating in the Syringes Market:

B. Braun Medical Inc. (U.S.) held the second position in the global market of syringes in 2015. The company has a robust portfolio of products in various categories, such as, polypropylene syringes, control stroke syringes, prefilled syringes, and inflation syringes. The company has wide geographical presence across the North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa.

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Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com

About MarketsandMarkets™:

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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