Pune, India, December, 2022/MRFR Press Release/- Market Research Future published a Half Cooked research report on “Global Syringe and needle Market Research Report - Forecast till 2032” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2032.
Syringe and Needle market size is expected to reach USD 14.74 Billion by 2032 at CAGR of 5.9% during the forecast period 2023-2032.
Syringes and needles are sterile devices which are used to inject a solution into the body for the treatment. These devices are also used to isolate various types of body fluids, such as tissues from swollen joints and blood from veins. These devices are made up of plastic and glasses with cylinder shaped with a plunger. Now a days there are the huge demands for plastic syringes and needles which is also known as disposal syringes owing to increase in prevalence of infection and transfection of various diseases. Also increase in chronic diseases such as diabetes, cancer, chronic intestinal diseases, and hepatic failure fuelling the requirements of syringes and needles. According to the World Cancer Research Fund International (2016), Japan and China rank second and fifth respectively in the incidence of stomach cancer in Asia. With such high rates of stomach cancer, researchers have begun investigating the various environmental and genetic factors that may explain such concerning statistics. This huge presence of patient population increases the demand for syringes and needles for effective treatment.
Global Syringe and needle Market – Overview
The global syringe and needle market is rising with a swift pace; mainly owing to increase in patient population. According to World Gastroenterology Organization, 35-40 % of the world’s total population are suffering from acute or chronic gastrointestinal problems. Also, according to the World Cancer Research Fund International, in 2015, cancer was responsible for 8.8 million deaths, and is the second leading cause of death across the globe. Increasing consumer awareness about the benefits associated with disposal syringe and needle, increasing the demands globally.
Companies are continuously inventing new products to capture the market globally. Thus, major players invest more in research and development activity, in order to lead the global market. In this regards, Becton, Dickinson & Company, in 2016, launched first syringe designed for use with Humulin are you-500 insulin which is designed by Eli Lilly & Company. It helps to treat patient with high blood sugar along with diabetes. Companies are investing more into research and development in order to develop quality and advance products, which help them to lead the global market.
Again in 2017, Becton, Dickinson & Company, introduce new 6mm pen needle for injection pens which is named as BD Ultra-Fine. By adding this product in the portfolio company want to ensure the patient that BD has a comprehensive portfolio that provide options and reinforce BD commitment to providing the best solutions possible for people with specific preferences while managing their diabetes.
Increasing in the genetic population globally and consumption of tobacco are the factors that increase the occurrence of chronic disease. Moreover, companies are more focus to capture the market.
Global Syringe and needle Market -
The market of the syringe and needle is much higher in the Americas region. There is a huge population which is suffering from chronic disease such as diabetes, cancer and also better awareness of healthcare increase the demand of syringe and needle market in this region. According to National Cancer Institute, in 2016, the U.S. diagnosed around 1,685,210 new cases of cancer, and in 2014, around 15,780 children and adolescents ages 0 to 19 were diagnosed with cancer and 1,960 died of the disease.
Europe is also considering the huge market for syringe and needle market players, owing to present of huge population affected with chronic disease. Additionally, market players from this region are involved in the export of their product in developing regions. Government is more focused to educate their public in order to minimize the patient population.
Asia Pacific and the Middle East and Africa region are considering the big market. Whereas country like India and china of Asia Pacific region are considering fastest growing region due to the presence of huge population suffering with diabetes, cancer, and cardiovascular disease. Additionally, countries from this region looking forward to adopt advanced technology and treatment from developed nation in order to improve the quality of life for their citizen. Whereas the Middle East and Africa are the low market due to his incapability of investment.
Becton, Dickinson & Company (U.S.), B. Braun Melsungen AG (Germany), Medtronic plc. (Ireland), Terumo Corporation (Japan), Smiths Medical (U.S.), Retractable Technologies Inc. (U.S.), Alcon Laboratories Incorporated (U.S.), Parker Dayton Technology Suzhou Co., Ltd. (China) and Light Medical Products Co., Ltd. (U.S.) are some of the leading players at the cutting edge of the competition in the market of syringe and needle, globally.
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