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Worldwide Demand for Syringes is Anticipated to Reach US$ 26,995.6 Million by 2032

06-09-2023 12:49 PM CET | Health & Medicine

Press release from: Fact.MR

Worldwide Demand for Syringes is Anticipated to Reach US$

The global syringes market is set to enjoy a valuation of US$ 17,889 Million in 2022 and further expand at a CAGR of 4.2% to reach US$ 26.995.6 Million by the end of 2032.
The sale of syringes is directly reliant on a number of liquid biopsy performed in which North America is the favorable market for target product in 2022.

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What's Driving Demand for Syringes?

"Immunization Campaigns by Government Bodies to Boost Sales of Syringes"
Mass immunization is significantly on the rise with growing awareness of the proven effectiveness, sustainability of vaccines among the population for controlling various infectious diseases like hepatitis, tetanus etc. The use of auto-disable syringes improved vaccination coverage rates thereby improving injection safety. Sale of syringes is therefore expected to increase during the predicted period due to the increased frequency of vaccination and immunization programs initiated by the government. For instance, UNICEF organizes various vaccination programs for the community to confer long term protection of human body from serious liver infection.
In addition, availability of different syringes in varied sized to suit different doses and comfort levels is positively impacting the growth of syringes market. The aforementioned reasons are expected to uplift the market for syringes across the globe.

"Growing Diabetic Patient Population to Uplift the Market for Syringes"
Factors namely ageing, urbanization, changing lifestyles are contributing to the increase in long term trends observed in diabetic patients. Individuals suffering from diabetes use insulin syringes in order to administer the appropriate insulin dose prescribed by healthcare professionals.
Such multiple use of syringes to administer different doses per day is spurring demand for syringes. It is observed that the total number of patients requiring insulin is expected to be approximately around 150 - 200 million individuals on a global level. Therefore, the use of insulin treatment to regulate blood sugar levels among the population is expected to stimulate the market expansion on syringes across the world.

Competitive Landscape:
Prominent market players manufacturing syringes are Becton, Dickinson and Company, B.Brawn, Medtronic Plc., Smith's Group Plc., Schott AG, Hindustan Syringes & Medical Devices Limited, Aurobindo Pharma Limited and Gerresheimer AG.
Manufacturers focuses on market dominance by following various strategies like mergers & acquisitions, partnerships, expansion of distribution channel across the globe etc. With an objective to expand their product portfolio, manufacturers tremendously invest in R&D sector as well as increase their human resources. Following such marketing strategies will enable them to enjoy significant growth opportunities in the coming years.
• In Sept 2022, BD Company launched BD EffivaxTM Glass Prefillable Syringe which is a next generation prefillable vaccine syringe with high efficiency and reliability.
• In Jan 2021, Aurobindo Pharma Limited received FDA approval for manufacturing of Naloxone HCl Injection Prefilled Syringe 2 mg/2 mL which will help to boost their product portfolio.

Segmentation of Syringes Industry Research:
• By Product Type:
o Disposable Syringes
o Reusable Syringes
• By End-user:
o Hospitals
o Diagnostic Laboratories
o Clinics
o Nursing Facilities
o Others
• By Region:
o North America
o Latin America
o Europe
o East Asia
o South Asia & ASEAN
o Oceania
o MEA

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