Syringes and Needles Market Size will expand from 2022 to 2028 due to the growing burden of chronic diseases and infectious diseases. Medical device companies have fueled investments in injectable drugs and syringes.
A notable surge in the number of surgical procedures has fostered the industry growth in advanced and emerging economies. Sedentary lifestyles, alcohol abuse, and smoking have expedited the prevalence of chronic diseases. According to the U.S. CDC, approximately 34.2 million people have diabetes, while 88 million adults have prediabetes in the U.S. Syringes have continued to evolve to boost operation, productivity and output. The innovations will help reduce waste of product and packaging material, along with boosting safety and efficiency.
With respect to type, disposable syringes and needles will account for a considerable share of the global market. The growth is attributed to high injection risks, the use of injectables as a mode of drug delivery and the rising aging population. Moreover, affordability and safety attributes have made disposable syringes highly sought-after among the end-users.
In terms of end-use, syringes and needles market share from hospitals will expand through 2028 owing to investments in healthcare infrastructure. The growing prevalence of chronic diseases in Asia Pacific, North America, and Middle East and Africa will further expedite the demand for syringes. Industry participants expect prefilled syringes to boost the sustainability portfolio by reducing multi-dose vials and product waste.
North America syringes and needles market outlook will be strong following the rise in cardiovascular diseases (CVD). According to the U.S. CDC, one person dies every 36 seconds from CVD in the U.S. Considering the significance of needles and syringes for CVD therapies and treatment, North America is likely to be a lucrative region during the forecast timeline.
A notable development of injectable devices, product approvals and awareness about specialized syringes will shape the competitive landscape of syringes and needles market. Key players are expected to emphasize mergers & acquisitions, R&D activities, innovations and product launches. C.R. Bard (Becton Dickinson), Albert David Ltd, Terumo Corporation, Merck, Covidien Plc, Cardinal Health Inc., B. Braun Medical Inc., Fisher Scientific, Smiths Medical and Hamilton are some of the leading companies in the landscape.
In September 2021, Thermo Fisher Scientific announced an investment of approximately USD 154 million in North Carolina. The expansion could boost the company’s manufacturing capacity for pre-filled syringes, sterile liquid, and lyophilized filling, among others.
As coronavirus exposed critical flaws in the healthcare sector for vital equipment, such as personal protective equipment and ventilators, health systems have struggled with shortages of syringes and needles. In October 2021, the WHO released a statement citing an imminent shortfall of around 2.2 billion auto-disable syringes for routine immunization and COVID-19 vaccination in 2022. The shortage is likely to deter African countries the most.
Given the shortage of syringe supply in Africa, leading health organizations and other stakeholders are likely to boost the product supply chain in Middle East and Africa. UNICEF is contemplating buying around 1 billion syringes by 2021-end to ramp up COVID-19 vaccination efforts in countries participating in the COVAX Facility.
Global vaccine campaigns have put the spotlight on syringes with estimates suggesting more than 8 billion syringes would be needed for the COVID-19 vaccine alone. Stakeholders are slated to add capacity and ramp up the product supply, boosting global market outlook.
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