Growing Healthcare Sector in North America to Drive Syringe and Needle Market
Rising Emphasis on Safety Innovations to Drive Syringe and Needle Market
The global Syringe and Needle Market Outlook is expected to exhibit a strong 7.3% CAGR over the forecast period from 2019 to 2025, according to the latest research report from Market Research Future (MRFR). The global syringe and needle market was valued at USD 6.4 billion in 2018 and is expected to rise to a valuation of more than USD 10.4 billion by 2025, according to the MRFR report.
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The report presents a detailed analysis of the global syringe and needle market by providing readers with a comprehensive overview of the market’s historical trajectory. The leading drivers and restraints affecting the global syringe and needle market are assessed in detail in the report. The historical impact of these drivers and restraints is analyzed in context of the current impact of these factors and projections are made for the likely impact of these drivers and restraints over the forecast period. Various components of the global syringe and needle market are also studied in the report and projections are made for the growth trajectory of each distinct component. The various segments and sub-segments within the global syringe and needle market are studied in detail in the report. The study also makes a detailed analysis of the major players operating in the global syringe and needle market and provides a detailed look at the various competitive strategies employed by players in the global syringe and needle market. Likely future conditions with respect to the competitive landscape of the market are also explained in detail in the report.
Competitive Analysis:
Leading players in the global syringe and needle market include Smiths Medical, Cardinal Health, Schott AG, BD, Medtronic, Septodont, Insulet, Connecticut Hypodermics Inc., Terumo Corporation, B. Braun Melsungen AG, Albert David Ltd., and DeRoyal.
Segmentation:
The global syringe and needle market is segmented on the basis of type, treatment, usability, end user, and region.
- By treatment, has been segmented into syringe and needle repair and syringe and needle replacement.
- Based on type, the syringe and needle market has been segmented into blood collection syringe and needles, ophthalmic syringe and needles, bone marrow syringe and needles, catheter syringe and needles, dental syringe and needles, epidural syringe and needles, AV fistula syringe and needles, pen syringe and needles, intravenous syringe and needles, spinal anesthesia syringe and needles, suture syringe and needles, and others.
- On the basis of usability, the market has been segmented into disposable and reusable.
- The end user segments include hospitals & clinics, diagnostic centers, home care, and others.
Regional Analysis:
The Americas holds the largest share in the global syringe and needle market and is likely to remain the leading revenue generator over the forecast period. The U.S. and Canada have two of the largest healthcare sectors in the world, which is a major driver for the syringe and needle market in the Americas. Europe is another leading regional market for syringe and needles.
Industry News:
- In November 2019, the city of Minneapolis announced the establishment of needle drop-off points in order to reduce the availability of needles for drug use and other recreational uses. This also helps reduce the transmission of AIDS and other needle-borne diseases.
- In September 2019, The Grand Forks council in North Dakota approved a needle exchange program with the intention of reducing the transmission of HIV and hepatitis C due to needle sharing.
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