According to the latest report by Reports and Data, the global Syringes and Needles market size was USD 12.22 Billion in 2022 and is expected to grow at a CAGR of 7.6% during the forecast period. Syringes and Needles are medical instruments used to administer medications, vaccinations, and other therapeutic substances to patients.
The increasing prevalence of chronic diseases and the need for injectable medications are driving the revenue growth of the market. The World Health Organization (WHO) estimates that there were 108 million diabetics in 1980 and 422 million in 2014.
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The demand for reliable and secure medicine delivery systems is another factor contributing to the growth of the Syringes and Needles market. Over the years, syringe use has significantly increased due to its efficiency in administering medication and usability. The development of more reliable and secure Syringes and Needles has grown due to technical advancements in syringe design and manufacturing.
Furthermore, the use of auto-disable Syringes and Needles to halt the spread of infectious illnesses is expected to boost market revenue growth. The WHO recommends adopting auto-disable Syringes and Needles for vaccination programs, particularly in countries where syringe reuse is a common practice. As the importance of stopping the transmission of infectious illnesses has grown, the use of auto-disable Syringes and Needles has increased.
In 2022, the conventional Syringes and Needles segment had the largest revenue share in the overall Syringes and Needles market, primarily due to the increasing frequency of chronic illnesses such as diabetes and cancer and the need for vaccination programs. The therapeutic injections segment had the largest revenue share in the global Syringes and Needles market in 2022, mainly due to the increasing incidence of chronic illnesses such as diabetes, cancer, and autoimmune disorders. Additionally, the rising trend of self-administration of injectable medications and the aging population are other factors driving the revenue growth of this segment.
The Asia Pacific region dominated the global Syringes and Needles market in terms of revenue in 2022. The senior population in this region and the rising prevalence of chronic illnesses such as diabetes, cancer, and cardiovascular disorders are the main reasons for this. Increased healthcare spending and public awareness of safe injection procedures are expected to further drive market revenue growth in this region.
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Some of the prominent players in the global Syringes and Needles market include Becton, Dickinson and Company, Gerresheimer AG, Schott AG, West Pharmaceutical Services, Inc., Nipro Corporation, TERUMO CORPORATION, Medtronic, B. Braun Melsungen AG, Smiths Medical, Inc., and Cardinal Health, Inc.
In conclusion, the global Syringes and Needles market is expected to experience steady growth during the forecast period due to the increasing prevalence of chronic diseases, the demand for reliable and secure medicine delivery systems, and the use of auto-disable Syringes and Needles to stop the spread of infectious illnesses. The conventional Syringes and Needles and therapeutic injections segments are expected to contribute significantly to the revenue growth of the market. The Asia Pacific region is expected to dominate the global Syringes and Needles market in terms of revenue, with increased healthcare spending and public awareness of safe injection procedures further driving market revenue growth.
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