Syringe & Needle Market Size to Reach Revenues of over $34 Billion by 2025

According to the latest Arizton's market research report, the syringe and needle market size to reach revenues of over $34 billion by 2025, growing at a CAGR of 10% during the forecast period.

Syringe and Needle Market Growth

The global syringes & needles market is witnessing a healthy growth. The steady growth is attributed to the increasing prevalence of chronic diseases that are leading to a large number of hospital admissions worldwide. This, in turn, is driving the demand for syringes & needles to treat chronic diseases among the patient population globally. The healthcare system in developing economies is partnering with the key vendors and other key stakeholders to increase awareness about the advantages of safety devices, thereby contributing to the market growth. The major and other prominent vendors are offering advanced and safety syringes to avoid transmission of infectious diseases, needlestick injuries, and other complications associated with syringes which, is expected to boost market growth during the forecast period. The increasing prevalence of diabetes is one of the major drivers in the needles market. Also, the increasing patient population due to the COVID-19 pandemic is boosting the demand for needles & syringes during the forecast period.  

Advancements in Needle & Syringe Design & Technology

The demand for safety needles & syringes is rising due to the high incidence of needlestick injuries (NSIs) caused by unsafe injection practices in healthcare systems. A majority of healthcare workers are at the risk of exposure to healthcare-associated infections (HAIs) and blood-borne diseases due to needlestick injuries. Vendors are offering a broad range of safety syringes & needles to address needlestick issues and protect healthcare professionals from harmful pathogens. For instance, BD offers a portfolio of safety injection devices like BD Integra retracting syringes, BD Eclipse pivoting needles, BD SafetyGlide shielding needles, and other safety-engineered hypodermic products. The company offers safety needles with active and passive mechanisms to deliver medication such as insulin to patients.

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Key Offerings:

• Market Size & Forecast by Revenue | 2019−2025
• Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
• Segmentation – A detailed analysis by Products, Patient Group, End-users, and Geography.
• Competitive Landscape –7 Key Company Profiles and 34 Other Prominent Vendors

Syringe and Needle Market – Geographical Analysis

In 2019, North America was the largest geographical segment of the syringes & needles market with a share of approximately 34%. The market in North America is driven by the rising incidence of chronic and infectious diseases, where hospitals, clinics, and ASCs are the largest revenue generators. The US and Canada are the primary revenue contributors to the North America region. Europe was the second-largest revenue contributor in 2019 and is dominated by the presence of major vendors such as B. Braun Melsungen, BD, Terumo, and others. The market is propelled by the rising incidence of chronic diseases, trauma cases, and high demand for safety needles under the EU directive legislation.

Competition Overview

The global syringes market is fragmented and comprises many global, regional, and local players offering a broad range of advanced syringes & needles at competitive prices. Vendors are increasingly competing based on factors such as aggressive pricing, incorporation of safety features, convenient usage, an advanced additional feature, and marketing strategies to gain market share. Vendors like BD, Teleflex, Terumo, Nipro, and a few other vendors are focusing on launching advanced syringes and needles for various age groups of patients. They are also providing training to the care providers, nurses, and other medical staff regarding safe injection practices, NSI prevention, and other safety guidelines for handling sharp medical devices like syringes & needles, which is boosting the market growth. The market is currently witnessing intense competition since all the major players are looking to gain more market share. This could pave the way for consolidation due to the intensely competitive environment. These factors make it imperative for vendors to differentiate their product offerings to survive the highly competitive environment.

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