The overall market for syringes is expected to reach $15.99 billion by 2021 from $10.56 billion in 2016, at a CAGR of 8.7% during the forecast period. High prevalence of chronic diseases across the globe, rising geriatric population, increasing adoption of safety syringes, technological advancements, and increasing demand for vaccines are supporting the market growth of syringes. However, high cost of safety syringes and increasing incidence of needle stick injuries are the major challenges in Market.
B. Braun Medical Inc. (U.S.) held the second position in the global market of syringes in 2015. The company has a robust portfolio of products in various categories, such as, polypropylene syringes, control stroke syringes, prefilled syringes, and inflation syringes. The company has wide geographical presence across the North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
In the overall market of syringes, leading players are adopting the strategies of new product launches, product approvals, partnerships, collaborations, and expansions in order to increase their market share. Market players adopted these strategies to access new technologies, develop novel products, expand their product portfolio and distribution network, and enter into growing markets. Leading players are also focusing towards increasing their market visibility and strengthening their research and development capacities. In addition to the above stated top two market players, companies such as Terumo Corporation (Japan), Medtronic plc (Ireland), Smiths Medical (U.S.), NIPRO Corporation (Japan), Hindustan Syringes & Medical Devices Limited (India), Gerresheimer AG (Germany), SCHOTT AG (Germany), and CODAN Medizinische Geräte GmbH & Co KG (Germany) are primarily focused towards launching new products, collaborations, and expansions in order to strengthen their footprint in the syringes market.
Syringes Market Size & Share by Type (General & Specialized Syringes (insulin, tuberculin)), Usability (Sterilizable/reusable (hypodermic, oral) & Disposable Syringes (conventional, safety, prefilled)), Material (Glass & Plastic Syringes) - Global Forecast to 2021
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