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The Role of Syringes Market Industry Growth, Competitors Analysis, New Technology, Trends and Forecast 2022 - 2031

08-12-2022 12:08 PM CET | Health & Medicine

Press release from: Transparency Market Research

Syringes Market 2022

Syringes Market 2022

Overview of Europe Syringes Market

A syringe is a medical equipment used to inject or withdraw fluid from the patient's body. The various types of needles & syringes available include insulin syringes, injection syringes, disposable syringes, and prefilled syringes. Increase in geriatric population and surge in incidence of chronic diseases are projected to drive the syringes market in Europe during the forecast period.

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Leading players in the Europe syringes market are developing advanced new products and carrying out innovations through strategic collaborations, partnerships, and mergers & acquisitions. For instance, in July 2017, Gerresheimer AG entered into an exclusive license agreement with West Pharmaceutical Services, Inc. and acquired the rights to market innovative, new syringe safety solution, developed by West Pharmaceutical Services, Inc.

The well-developed healthcare system in Europe is expected to boost the syringes market in the region during the forecast period.

Rise in Demand for Point-of-Care Administration to Drive Syringes Market in Europe

The number of people self-administering medication at home is increasing rapidly. Insulin dependent diabetics and people suffering from ailments are increasingly opting for reliable and safe methods to self-inject medication. The prevalence of diabetes is increasing in Europe. According to the World Health Organization (WHO), approximately 60 million people in the region have diabetes. The number of cases and prevalence of diabetes have been rising for the last few decades.

Auto injectors and pen injectors are integrated with prefilled syringes, which is an important factor driving the demand for self-administrable devices. Therefore, preference for self-administration is expected to propel the adoption of syringes over the next few years.

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Consistent Rise in Demand for Injectable Drugs to Boost Syringes Market

Increasing number of biologics and potent & complex molecules have been approved for marketing in the last few years. Key hospitals, diagnostic centers, and general practitioners are using syringes for drug delivery, as these offer ease of handling, less overfills, and better safety to patients. Most biologics are given parenterally, as oral administration leads to protein hydrolysis in the digestive tract. Moreover, usage of disposable syringes for drug delivery results in reduced costs, as these syringes reduce the overfill volume and deliver precise drug dosage. Increase in usage of injectable is likely to drive the demand for syringes.

Over 60% drugs in clinical development are biologics, indicating a robust expansion of the biologics market. This, in turn, is expected to boost the syringes market.

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Increase in Adoption of General Purpose Syringes in Europe

In terms of product type, the syringes market in Europe has been classified into general purpose syringes segment, specialized syringes (insulin syringes & others), and smart syringes. The general purpose syringe segment accounted a major share of the global market in 2021. Syringes are utilized for different conditions such as cancer, diabetes, arthritis, and multiple sclerosis. Therefore, an increase in incidence of chronic diseases drives the adoption of syringes.

Wide Use of Polymer-based Syringes in Europe Due to Low Rate of Breakage

In terms of material, the Europe syringes market has been bifurcated into plastic and glass. The plastic segment accounted for a major share of the market in 2021. Adoption of Polymer pre-filled (PFS) syringes is increasing, as polymer PFSs offer wider design options, while ensuring low rates of breakage. Polymer is free of heavy metals and tungsten due to its material properties and manufacturing process. It could also have low or no siliconisation options. The plastic segment is driven by ease of handling and easy transport with less breakage ratio as compared to glass-based syringes. Therefore, polymer-based syringes are extensively utilized in Europe.

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Disposable Syringes Offer High Safety to Patients, Reduce Overfills

Based on usage, the Europe syringes market has been divided into disposable and reusable prefilled syringes. Diagnostic centers and general practitioners use disposable syringes for drug delivery, as these offer ease of handling, reduce overfills, and provide better safety to patients. Hence, increase in usage of these syringes is likely to drive the disposable syringes segment.

Therapeutics to be Key Application Segment of Syringes Market in Europe

In terms of application, the therapeutics segment held a notable share of the market in 2021. The segment is expected to expand at a CAGR of 5.7% from 2022 to 2031. Increase in the number of diseases and a surge in geriatric population in Europe are expected to drive the segment in the near future.

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Hospitals Expected to Propel Demand for Syringes Owing to Increasing Patient Population

Based on end-user, the syringes market in Europe has been divided into hospitals & clinics, diagnostic laboratories, blood banks, pharmaceuticals & biotechnology companies, veterinary facilities, and others. The hospitals & clinics segment dominated the market in the region, in terms of revenue, in 2021. The trend is projected to continue during the forecast period. The growth of the segment can be ascribed to an increase in the incidence of various chronic disorders, ability of hospitals to provide optimum health care services to patients, and rise in the number of patients opting for treatment at hospitals supported by reimbursement programs such as Medicare.

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About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

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