Report : Syringe Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Syringe Type (Luer Lock Syringes, Glass Syringes, Luer Slip Syringes, and Others), Application (Aesthetics, Human Health, Lab / Industrial, and Others), Usability (Sterilizable/Reusable Syringes and Disposable Syringes), and End User (Hospitals & Clinics, Blood Collection Centers, Diabetic Care Centers, and Others) and Geography
Glass Syringes Segment to Grow at Highest CAGR during 2020–2027
According to our new market research study on “Syringe Market to 2027 – Global Analysis and Forecast – by Syringe Type, Application, Usability and End Use,” the market is expected to reach US$ 26,859.34 million by 2027 from US$ 12,649.46 million in 2019. The market is estimated to grow at a CAGR of 9.8% from 2020 to 2027. The report highlights trends prevailing in the market, and drivers and hindrances pertaining to the market growth.
Based on syringe type, the market is segmented into luer lock syringes, glass syringes, luer slip syringes, and others. In 2019, the glass syringes segment held the largest share of the market. The segment is expected to grow at the fastest CAGR during the forecast period. This segment is likely to witness a lucrative growth owing to low mechanical tolerance, and smooth movement of the plunger. Furthermore, properties of glass, such as nonreactive nature and heat and chemical resistance, are contributing to the growth of this segment. Moreover, glass syringes are highly compatible with various drug filing devices and are easy to manufacture, which makes them the most preferred syringes in market. In March 2019, Gerresheimer AG launched metal free 1 ml long Luer lock Gx RTF glass syringes to deliver highly complex, protein-based bioengineered molecules.
In the last few years, the health care sector has witnessed SARS, H1N1 and other outbreaks. However, the severity of the coronavirus makes the situation more complex. Additionally, with no vaccine in market and only preventive measure to self-isolation is hitting the various industries including Syringe manufacturing in the region. The US and Canada have witnessed spike in cases in just few days, which has compelled the governments to shut down all the business in order to prevent the spread of the virus.. As of July 2020, in the US, more than 5.0 million confirmed corona cases were recorded and more than 160 thousands deaths were reported due to COVID 19 Pandemic. The syringe market is expected to be hit by the pandemic the most due to increasing number of cases and lockdown in most of the cities.
Becton, Dickinson and Company ; Baxter International Inc.; Terumo Corporation; Vita Needle Company; Cardinal Health Inc.; NIPRO; RETRACTABLE TECHNOLOGIES, INC.; B. Braun Medical Inc.; AIR-TITE PRODUCTS CO., INC.; and HENKE-SASS, WOLF Ltd., are among the leading companies operating in the syringes market.
The report segments global syringe market as follows:
By End Use