Global Syringes Market Is Estimated To Witness High Growth Owing To Rising Prevalence Of Chronic Diseases And Increasing Popularity Of Disposable Syringes

Syringes Market
Syringes Market 

Overview:

A syringe is a hollow tube, with a plunger that is used to inject liquids and medicines into the body. These devices can be made of plastic materials or metals. They have been around since the 9th century. There are numerous uses for syringes. Some of them include injection, suction, transfer of air-sensitive reagents, and more. 

It is hollow, pointed needle pierced the skin without causing much pain. Modern-day syringes are usually made of plastic, although they are also available in glass. Plastic syringes are generally recyclable. They are inexpensive and can be disposed of cheaply after one use. Another type of syringe is the three-way syringe. These syringes have separate internal channels, allowing the user to deliver water, mist, or a combination of the two.

Market Dynamics:

Increasing product launches is estimated to augment growth of the global Syringes Market during the forecast period. For instance, the United States Agency for International Development launched the INITIATIVE FOR GLOBAL VACCINE ACCESS in December 2021. This initiative is aiming to accelerate the vaccine access and delivery assistance globally. Moreover, increasing incidences of needle-stick injuries is anticipated to restrain growth of the global syringes market during the forecast period.

Impact of COVID-19:

During the pandemic there was a huge demand for syringes globally. Many companies had increased their manufacturing capacity for meeting the global demand. This was due to increasing number of positive COVID-19 cases worldwide. Hospitals were dealing with shortage of medical devices, drugs, medical consumables and working staff during the pandemic. Many hospitals were running on fill capacity and only critical patients were hospitalized. Testing was also carried out on a large scale across the world. This led to increased demand for syringes. This fueled the growth of the global Syringes Market.

Key Takeaways:

The global Syringes Market is expected to witness high growth, exhibiting CAGR of XX% over the forecast period, due to increasing product approvals.

For instance, Serum Institute of India acquired 50% stake of SCHOTT Kaisha in August 2021, so as to become SCHOTT’s joint venture partners. Asia Pacific is anticipated to witness significant growth in the global syringes for market over the forecast period, owing to increasing presence of key players.

Major players operating in the global Syringes Market are Flextronics International Vita Needle Company, MEDTRONIC, Retractable Technologies, Nipro Corporation, Henke-Sass, Wolf, Baxter International, Inc., UltiMed, Inc., B. Braun Melsungen AG, Terumo Corporation, Novo Nordisk, Terumo Corporation, and Fresenius Kabi AG.

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