Syringe Market - Growth, Trends, COVID-19 Impact, and Forecast (2021 - 2026)

The Syringe Market is Segmented by Usage (Sterilizable/Reusable Syringes, and Disposable Syringes), Application (Insulin Syringes, Botox, Osteoarthritis, Human Growth Hormone, and Other Applications), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The Report Offers the Value (in USD million) for the Above-mentioned Segments.

Market Snapshot

Syringe Market Overview
Study Period: 2018-2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 10.1 %

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Market Overview

The Syringe market is projected to witness a CAGR of around 10.1% during the forecast period, with a revenue of approximately USD 13,852 million in 2020 and expected to reach USD 24,920 million by 2026.

Due to COVID-19, the rise in the development of COVID-19 Vaccines has been observed, which will lead to increased demand for syringes. In January 2020, Biomedical Advanced Research and Development Authority (BARDA) estimated that between 650 million to 850 million needles and syringes would be needed to administer a vaccine in the United States alone. As a result, the demand for syringes is expected to increase, which can boost market growth.

The major factors driving the growth of the Syringe market include the growing prevalence of chronic and infectious diseases and the increase in the usage of Botox for therapeutic applications. As per the International Diabetes Federation 2019 report, the number of people living with diabetes is expected to increase from 463 million in 2019 to nearly 700 million by 2045. Most of the diagnostic and therapeutic techniques for chronic diseases require syringes, as these play a vital role during tests and drug administration, which will lead to increased demand.

Moreover, the increased adoption of injectable drugs, technological advancements in syringes, the increase in the geriatric population, and the growing number of vaccination and immunization programs are expected to drive the volume growth over the next few years. According to World Population Prospects 2019 report (United Nations, 2019), there were about 703 million people aged 65 years or over in the world in 2019. The number of elderly is projected to double to 1.5 billion in 2050. Worldwide, the share of the population aged 65 years or over, an increase from 6% in 1990 to 9% in 2019. Moreover, by 2050, approximately 1 in 6 people globally will be over the age of 65. As the elderly population is expected to grow worldwide, the increase in chronic diseases, being high-risk factors in this population, will drive the market in the near future.

Moreover, the rise in the incidence of needle-stick injuries, a high cost associated with safety syringes, and the availability of alternate drug delivery methods are likely to hinder the growth of the syringe market globally.

Scope of the Report

The syringe is a device used by medical professionals to transfer liquids into or out of the body. It is made up of a hollow needle, which is attached to a tube and a plunger. When the plunger handle is pulled back, fluids are drawn into the tube. The fluid is forced out through the needle when the handle is pushed down.

The syringe market is segmented by usage (sterilizable/reusable syringes and disposable syringes), application (insulin syringes, botox, osteoarthritis, human growth hormone, other applications), and geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The report offers the value (in USD million) for the above-mentioned segments.

By Usage
Sterilizable/Reusable Syringes
Disposable Syringes
Conventional Syringes
Safety Syringes
Prefilled Syringes
By Application
Insulin Syringes
Botox
Osteoarthritis
Human Growth Hormone
Other Applications
Geography
North America
United States (by Usage and Application)
Canada (by Usage and Application)
Mexico (by Usage and Application)
Europe
Germany (by Usage and Application)
United Kingdom (by Usage and Application)
France (by Usage and Application)
Italy (by Usage and Application)
Spain (by Usage and Application)
Rest of Europe (by Usage and Application)
Asia-Pacific
China (by Usage and Application)
Japan (by Usage and Application)
India (By Usage and Application)
Australia (By Usage and Application)
South Korea (By Usage and Application)
Rest of Asia-Pacific (by Usage and Application)
Middle-East and Africa
GCC (by Usage and Application)
South Africa (by Usage and Application)
Rest of Middle-East and Africa (by Usage and Application)
South America
Brazil (by Usage and Application)
Argentina (by Usage and Application)
Rest of South America (by Usage and Application)

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Key Market Trends

Prefilled Syringes are Expected Gain Acceptance Over the Forecast Period

Prefilled syringes are gaining acceptance in the market as drug delivery systems designed for injectable drugs. Prefilled syringes provide the advantage of precise dosing, as the syringes are already loaded with a dose worth of the drug. They are generally preferred for the parenteral administration of various drugs, and they are used mainly for the treatment of chronic diseases such as cancer, diabetes, and several other diseases.

The COVID-19 outbreak is also leading to increased demand for prefilled syringes. In November 2020, ApiJect announced the approval of a USD 590 million loan from the US International Development Finance Corporation to support building a United States-based facility with surge capacity to produce up to 3 billion single-dose prefilled plastic injectors per year, with no supply chain limitations. ApiJect's new campus will have 15 production lines to fill and finish vaccines and therapeutics for COVID-19.

Furthermore, many pharmaceutical companies are focusing on bringing in advancements in self-administration therapies. The shift from glass prefilled syringes to plastic prefilled syringes has been observed among healthcare professionals and the patient population. The plastic prefilled syringes are becoming more popular due to the introduction of advanced polymer materials, such as polypropylene and crystal-clear polymer, which are biocompatible with the other components of the syringe.

Hence, owing to the aforementioned factors and the growing geriatric population, the market studied is expected to witness rapid growth.

Syringe Market Key Trends

Asia-Pacific is Expected to Grow at Healthy Rate Over the Forecast Period

The Asia-Pacific market for syringes is expected to witness healthy growth during the forecast period. Factors, such as improving economic conditions, rise in purchasing power of the people, the growth in awareness regarding the advantages of prefilled syringes, and the presence of a large patient pool suffering from various chronic diseases are expected to drive the market in Asia-pacific region.

The market players are continuously focusing on product launches, which is driving the market growth in the region. For instance, in August 2019, Sunshine Guojian Pharmaceutical, a subsidiary of 3SBio have announced the approval of Yisaipu, a biosimilar of Enbrel (etanercept), as a pre-filled syringe to treat ankylosing spondylitis in China.

Moreover, due to the coronavirus outbreak, there is higher demand for syringes in the region. The COVID-19 pandemic has resulted in a large number of individuals admitted to hospitals. These hospital admissions are followed by various tests using blood samples and injection of various medications to subdue the symptoms due to the virus, which is expected to further fuel the market growth.

Syringe Market Growth Rate By Region

Competitive Landscape

The syringe market is highly fragmented, with the presence of a large number of local and international players. Key players adopt different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, mergers, and acquisitions. For instance, in 2019, Fresenius Kabi launched Adenosine Injection USP in 6 mg per 2 ml and 12 mg per 4 mL single doses in simple ready-to-administer prefilled syringes in the United States.

Recent Developments

  • In January 2021, Aurobindo Pharma Limited received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Naloxone HCl Injection Prefilled Syringe 2 mg/2 ml.
  • In July 2020, Cipla received approval for the generic version of Shire's Firazyr (Icatibant Injectable Pre-Filled Syringe 30mg/3mL). It is indicated for the treatment of acute attacks of hereditary angioedema (HAE) in adults.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Rising Burden of Chronic Diseases and Infectious Diseases

      2. 4.2.2 Increased Adoption of the Injectable Drugs

      3. 4.2.3 Technological Advancements in Syringes by Medical Device Companies

    3. 4.3 Market Restraints

      1. 4.3.1 Growing Cases of Needle-stick Injuries, Coupled with High Cost of Safety Syringes

      2. 4.3.2 Availability of Alternate Drug Delivery Methods

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Usage

      1. 5.1.1 Sterilizable/Reusable Syringes

      2. 5.1.2 Disposable Syringes

        1. 5.1.2.1 Conventional Syringes

        2. 5.1.2.2 Safety Syringes

        3. 5.1.2.3 Prefilled Syringes

    2. 5.2 By Application

      1. 5.2.1 Insulin Syringes

      2. 5.2.2 Botox

      3. 5.2.3 Osteoarthritis

      4. 5.2.4 Human Growth Hormone

      5. 5.2.5 Other Applications

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States (by Usage and Application)

        2. 5.3.1.2 Canada (by Usage and Application)

        3. 5.3.1.3 Mexico (by Usage and Application)

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany (by Usage and Application)

        2. 5.3.2.2 United Kingdom (by Usage and Application)

        3. 5.3.2.3 France (by Usage and Application)

        4. 5.3.2.4 Italy (by Usage and Application)

        5. 5.3.2.5 Spain (by Usage and Application)

        6. 5.3.2.6 Rest of Europe (by Usage and Application)

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China (by Usage and Application)

        2. 5.3.3.2 Japan (by Usage and Application)

        3. 5.3.3.3 India (By Usage and Application)

        4. 5.3.3.4 Australia (By Usage and Application)

        5. 5.3.3.5 South Korea (By Usage and Application)

        6. 5.3.3.6 Rest of Asia-Pacific (by Usage and Application)

      4. 5.3.4 Middle-East and Africa

        1. 5.3.4.1 GCC (by Usage and Application)

        2. 5.3.4.2 South Africa (by Usage and Application)

        3. 5.3.4.3 Rest of Middle-East and Africa (by Usage and Application)

      5. 5.3.5 South America

        1. 5.3.5.1 Brazil (by Usage and Application)

        2. 5.3.5.2 Argentina (by Usage and Application)

        3. 5.3.5.3 Rest of South America (by Usage and Application)

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Becton Dickinson and Company.

      2. 6.1.2 B. Braun Melsungen AG

      3. 6.1.3 Gerresheimer AG

      4. 6.1.4 Hindustan Syringes & Medical Devices Limited

      5. 6.1.5 Terumo Corporation

      6. 6.1.6 Nipro Corporation

      7. 6.1.7 Schott AG

      8. 6.1.8 Cardinal Health Inc.

      9. 6.1.9 Smiths Medical

      10. 6.1.10 Henry Schein Inc.

      11. 6.1.11 Johnson & Johnson

      12. 6.1.12 Baxter International Inc.

      13. 6.1.13 Pfizer Inc.

      14. 6.1.14 Teva Pharmaceuticals Industries Ltd

      15. 6.1.15 Fresenius SE & Co. KGaA

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments

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Frequently Asked Questions

The Global Syringe Market market is studied from 2018 - 2026.

The Global Syringe Market is growing at a CAGR of 10.1% over the next 5 years.

The Global Syringe Market is valued at 13852 Million USD in 2018.

The Global Syringe Market is valued at 24920 Million USD in 2026.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Becton Dickinson and Company, B. Braun Melsungen AG, Hindustan Syringes & Medical Devices Limited, Smiths Medical, Cardinal Health Inc. are the major companies operating in Global Syringe Market.

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