High prevalence of chronic diseases across the globe, rising geriatric population, increasing adoption of safety syringes, technological advancements, and increasing demand for vaccines are supporting the growth of Syringes market. However, high cost of safety syringes and increasing incidence of needle stick injuries are the major challenges in Market.
On the basis of type, the Market is segmented into general syringes and specialized syringes. The general syringes segment holds a larger share in the market. The global specialized syringes segment is expected to grow at the higher from 2016 to 2021. Specialized syringes allow for the accurate delivery of drugs by overfilling or underfilling, which is a key reason for its growing adoption among users. In addition, other factors such as the increasing use of injectables as a mode of drug delivery and increasing inclination towards self-administration are driving the growth of the specialized market across the globe.
Syringes Market by Usability
On the basis of usability, the global Market is segmented into two broad categories, namely, sterilizable/reusable syringes and disposable syringes. The disposable market is estimated to command the larger share of the global market in 2016. The large share of this segment can be attributed to the increasing use of injectables as a mode of drug delivery, growing aging population, high infection risks associated with reusable syringes, and increasing inclination towards self-administration. The global sterilizable/reusable syringes segment, on the other hand, is expected to hold the second largest share of the market. Being reusable, they are cost-effective and can be used for the treatment of chronic diseases, which are key factors leading to the increased use of these syringes across the globe.
Becton, Dickinson and Company (U.S.), Terumo Corporation (Japan), Medtronic plc (Ireland), Smiths Medical (U.S.), B. Braun Medical Inc. (U.S.), NIPRO Corporation (Japan), Hindustan Syringes & Medical Devices Limited (India), Gerresheimer AG (Germany), SCHOTT AG (Germany), and CODAN Medizinische Geräte GmbH & Co KG (Germany) are some of the key players operating in the global syringes market.
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