Insulin Syringes Market 2020 with Coronavirus (COVID-19) After Effects Analysis by Top key players: Medline Industries Inc., Sanofi, Cardinal Health Inc., and Nipro Medical Corporation.

The Global Insulin Syringes Market is expected to reach USD 6.89 Billion by 2027, according to a new report by Reports and Data. The growth of the market is attributed to the demand for insulin syringes to delivering insulin to diabetic patients.

Increasing health expenses is a major factor driving the market demand. In 2017, health spending in the U.S. rose by around 4.0% to USD 3.50 trillion. The growing prevalence of diabetes in the U.S. results in an increased health care spending on the diabetic treatment. According to a study published in 2020, it has been found that spending on diabetes rose from USD 37.00 billion in the year 1996 to USD 101.00 billion in the year 2013.

Some leading players profiled in the report are: Becton, Dickinson, and Company, Abbot Laboratories, Novo Nordisk, B. Braun Melsungen AG, Medtronic PLC, Ypsomed AG, Medline Industries Inc., Sanofi, Cardinal Health Inc., and Nipro Medical Corporation, among others.

Rise in the geriatric population is one of the significant factors influencing the market growth. It has been estimated that by 2050 approximately 16% of the global population will be aged more than 65 years, which expected to increase fivefold since 1950. Forecasts from the World Health Organization (WHO), United Nations (UN), and the EU commission all indicate aging as a significant challenge for society, which demands concentrated efforts to meet the requirements of the elderly. Owing to this, the incidence of target diseases such as chronic diseases is expected to grow and, in return, will boom the demand.

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The Center for Disease Control and Prevention (CDC) reports diabetes as the seventh leading cause of death among Americans as of 2019. Diabetes is no more limited to the rich nations and is becoming most significantly in low-middle income countries. Diabetes has become one of four high priority Non-Communicable Diseases (NCDs) targeted for action by leaders across the globe.

For the purpose of this report, Reports and Data have segmented the global insulin syringes market on the basis of product type, usage, end-user, and region:

Product Type Outlook (Revenue, USD Million; 2020-2027)
3/10 cc Syringe
1/2 cc Syringe
1 cc Syringe
Others

Usage Outlook (Revenue, USD Million; 2020-2027)
Reusable Syringe
Disposable Syringe
Prefilled Syringe

End User Outlook (Revenue, USD Million; 2020-2027)
Hospitals & Clinics
Laboratories
Homecare Settings

Regional Outlook (Revenue, USD Million; 2020-2027)
North America
Europe
Asia Pacific
Latin America
MEA

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Further key findings from the report suggest:
By product type, 3/10 cc syringes held a substantial share of the market in 2018.

By usage, disposable syringes are projected to grow at a rate of 7.7% in the forecast period. The key benefit of using disposable syringes is that no infection may be transmitted as the injection is disposed-off instantly after use.

By end-user, hospitals and clinics contributed to the largest market share in 2018 and is expected to witness a growth rate of 7.6% in the period 2019-2027. The factors including well-resourced operating & diagnostic rooms, higher purchasing power, existence of highly skilled healthcare professionals, and improved health coverage for hospital-based healthcare services from several private and group insurance plans, among others, are responsible for the high market share.

The market in the Asia Pacific region is expected to grow at the fastest rate of 9.5% in the forecast period, due to the improving healthcare infrastructure, rising investments by market players, and better reimbursement scenario.

In September 2019, Novo Nordisk, a leading market player, announced its agreement with Medtronic to offer integrated digital solutions for people with diabetes. Novo Nordisk is preparing to launch a disposable, prefilled injection solution along with other drug delivery devices.

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Market Overview: The report gives a thorough investigation of essential factors affecting the progress of the market in the coming years, such as a competitive overview, growth analysis, market segmentation, and regulatory policies governing the industry, among others.

Competitive landscape: The report offers a comprehensive competitive landscape by carrying out a detailed investigation of the production base, capacity, feedstock sources, technological advancements, value chain assessment, rate of concentration, collaborations, mergers and acquisitions, distribution network, cost analysis, pricing structure, major manufacturers, distributors, vendors, and product specifications.

Company Profiles: This section draws focus to the leading companies that control a significant portion of the global market. The report gives an extensive analysis of the leading players that contribute to the overall growth of the industry. It analyzes the leading competitors, prevalent business models, profit-generating tactics, lucrative manufacturing strategies, and gross revenue, among other factors.

Regional Outlook: The analysis also offers insights into the regional markets in North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, by studying the leading countries in these regions.

Application or End User: This section of the research study shows how different end-user/application segments contribute to the global Insulin Syringes Market.

Market Forecast: The report offers accurate estimations for different aspects of the global Insulin Syringes Market by product, application, and region for the forecast period. It also analyzes global sales and revenue for the coming years.

Research Findings and Conclusion: The last section of the report gives the analysts’ findings and conclusion based on the research study.

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