Syringes Market to Rise Beyond 8% CAGR to 2021 Driven by Disposable Syringes
PUNE, India, November 18, 2016 /PRNewswire/ --
The syringes market is expected to register a CAGR of 8.7% from 2016 to 2021 to exhibit USD 15.99 billion by 2021 while disposable syringes market is estimated to command the larger share in 2016 propelled by increasing use of injectable as a mode of drug delivery and high infection risks associated with reusable syringes.
Complete report on syringes market spread across 129 pages, profiling 10 companies and supported with 70 tables and 42 figures is now available at http://www.reportsnreports.com/reports/751492-syringes-market-by-usability-sterilizable-reusable-hypodermic-oral-disposable-syringes-conventional-safety-prefilled-material-glass-plastic-syringes-type-general-specialized-syringes-insulin-tu-st-to-2021.html .
The syringes market is primarily driven by the high prevalence of chronic diseases across the globe. In addition, rising geriatric population, increasing adoption of safety syringes, technological advancements, and increasing demand for vaccines are supporting the growth of this market. On the other hand, high cost of safety syringes and increasing incidence of needle stick injuries are the major challenges in this market.
In this report, the syringe market has been segmented on the basis of usability (sterilize able/reusable syringes and disposable syringes), type (general syringes and specialized syringes), material (glass and plastic), and region (North America, Europe, APAC and RoW). On the basis of usability, the global syringes market is segmented into two broad categories, namely, sterilize able/reusable syringes and disposable syringes. The disposable syringes market is estimated to command the larger share of the global syringes market in 2016. The large share of this segment can be attributed to the increasing use of injectable as a mode of drug delivery, growing aging population, high infection risks associated with reusable syringes, and increasing inclination towards self-administration.
New product launches and product approvals; partnerships and collaborations and expansions were the major strategies adopted by most of the market players between 2013 and 2016 to achieve growth in the syringes market.
The syringes market consists of a large number of big, medium, and small-sized companies. As of 2015, the syringes market was dominated by Becton, Dickinson and Company (U.S.), Terumo Corporation (Japan), Medtronic plc (Ireland), and B. Braun Medical Inc. (U.S.). Order a copy of Syringes Market by Usability (Sterilizable/reusable (hypodermic, oral) & Disposable Syringes (conventional, safety, prefilled)), Material (Glass & Plastic Syringes), Type (General & Specialized Syringes (insulin, tuberculin) - Global Forecast to 2021 research report at http://www.reportsnreports.com/purchase.aspx?name=751492 .
Geographically, North America (comprising the U.S. and Canada) is expected to command the largest share of the syringes market in 2016, followed by Europe. The increasing prevalence of chronic and lifestyle diseases, growing product approvals, increasing awareness about specialized syringes, upsurge in biologics approvals, and increasing development of injectable are the major factors driving market growth in North America. However, the increasing cases of needle phobia and low adoption of biosimilar as compared to other regions are hindering market growth in North America.
On a related note, another research on Injectable Drug Delivery Market Global Forecast to 2020 says, the market is expected to reach $547.8 billion by 2020 from $326.1 billion in 2015, growing at a CAGR of 12.0% from 2015 to 2020. Asia is expected to be the fastest-growing country in the injectable drug delivery market. Increasing prevalence of chronic diseases such as cancer and diabetes, increased demand for self-injection devices particularly pen injectors are the major growth factors. Companies like Becton, Dickinson and Company, Baxter International Inc., Gerresheimer AG, Pfizer, Inc., Schott AG, Sandoz, Teva Pharmaceutical Industries Ltd. and Eli Lilly and Company have been profiled in this 241 pages research report available at http://www.reportsnreports.com/reports/232484-injectable-drug-delivery-market-by-formulations-liposomes-microspheres-nanoparticles-devices-disposables-reusable-fillable-prefilled-pen-needle-free-auto-injectors-therapeutics-diabetes-oncology-global-forecasts-to-2017.html .
Explore more reports on the medical devices market at http://www.reportsnreports.com/market-research/medical-devices/ .
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