The global syringes market is predicted to reach a value of US$ 49.2 billion by the end of 2032, according to Future Market Insights (FMI). The availability of syringes in various capacities, such as small volume syringes, medium volume syringes, and large volume syringes, is driving market demand.
Hospitals, research laboratories, medication manufacture, and clinical research are among the ultimate uses of these syringes. It is the most effective method for injecting or removing fluid from the body. The market is predicted to expand in demand as disposable and reusable syringes become more popular.
Furthermore, due to growing knowledge of the diseases caused by using the same or repeated syringe, healthcare professionals prefer disposable syringes. As a result, the growing use of disposable vaccinations, as well as the development of novel vaccines, is fuelling syringe demand around the world.
According to Future Market Insights, the rise in syringe usage in the healthcare sector presents a number of opportunities for syringe makers.
Because of the rising use of disposable syringes, the plastic syringe category is expected to grow at a CAGR of 10.1 percent over the forecast period.
The disposable syringe sector is expected to remain the market leader, accounting for over 88 percent of market share and generating a US$25.3 billion incremental opportunity.
The hospital segment, followed by clinical research, is expected to account for a considerable percentage of end use.
During the years 2022-2032, syringe sales in hospitals and clinical research will exceed $23.7 billion.
The biggest demand for syringes can be found in North America, Europe, and East Asia. By the end of 2032, these categories are expected to account for almost two-thirds of the market.
“The need for plastic disposable syringes is being driven by the need for disposable solutions in hospitals to remove and inject fluid or drugs. Syringe innovation is in the cards to capitalise on this. According to an FMI analyst, “this is projected to generate chances for enterprises operating in the market.”
Syringes will be in high demand as the healthcare and medical sectors expand.
Due to the proliferation of various viruses and diseases, the healthcare and medical sectors around the world are expanding. People are also becoming more health-conscious, resulting in increased use of healthcare facilities and services.
The rise of the healthcare and medical sectors is likely to boost syringe demand. Additionally, small-scale healthcare facilities are rising to meet the increased need for syringes, resulting in incremental growth prospects for the market.
In addition, the government in various nations is focusing on building healthcare facilities to improve patient treatment, hence increasing syringe sales.