Wilmington, Delaware, United States, Nov. 17, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The syringes market was worth US$ 4 billion in Europe in 2021. From 2022 to 2031, it is projected to grow at a CAGR of 5.6%. The market for syringes in Europe is estimated to reach US$ 6.9 billion by 2031. COVID-19 has increased global pandemic preparedness. A rapid and effective response to future health crises can be ensured by stockpiling essential medical supplies, such as syringes.
Traditional needle-based injections can be replaced with needle-free injection technologies. For delivery of medication with these systems, jet injectors or microneedles are often used. Infections and needlestick injuries can be reduced with the use of smart syringes. Injection processes can be monitored and controlled with electronic components or retractable needles.
A growing interest in biodegradable and sustainable materials is being expressed in developing syringes and medical devices. Self-administered injections are made easier with autoinjectors. In treating autoimmune diseases, these devices are often used to deliver specific medications. Personalized drug delivery systems have become increasingly important with advances in precision medicine. Enhanced efficacy and reduction in side effects can be achieved by customizing the dosage of medications and delivery methods to the individual patient's characteristics.
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Data tracking and monitoring features are being incorporated into some syringe technologies. Patients and healthcare providers can benefit from better medication management by integrating digital health platforms. The use of nanotechnology in drug delivery mechanisms is being explored. In addition to enhancing targeted delivery, nano-sized particles and structures may lead to improved therapeutic outcomes.
3D printing technology can create more customizable and intricate designs for medical devices, including syringes. Developing solutions tailored to patients can be made easier this way.
Key Findings of Market Report
- Innovation and technology are expected to increase demand for smart syringes in Europe.
- Rising demand for diagnostics and various laboratories drives demand for syringes in Europe.
- Increasing concern over disease spread will lead to an increase in demand for disposable syringes.
- Plastic syringes are expected to expand in demand in the near future.
- Based on end-user segments like hospitals and clinics will drive syringe demand with a greater number of patients.
Global Syringes Market: Growth Drivers
COVID-19 and other infectious diseases have caused the demand for syringes to rise. A growing number of vaccine campaigns and routine immunizations are boosting the syringe market. Chronic diseases like diabetes are becoming more prevalent around the world. As a result, syringes have become less common for administering injectable medications, including insulin.
Enhanced needlestick safety, easy-to-use designs, and drug-compatible materials can drive syringe technology innovation. As a result of these advancements, drug delivery has become safer and more efficient. Medical devices, including syringes, are in high demand as global healthcare expenditures rise. Investments in healthcare infrastructure are increasing in developing countries, contributing to market growth.
Syringe demand is largely driven by an expanding market for biologics and biosimilars. In addition to treating cancer and autoimmune diseases, these products are also used in other conditions. The quality and safety of medical devices, including syringes, is strictly regulated. Industry innovation and quality improvements can be driven by compliance with these regulations.
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Global Syringes Market: Regional Landscape
- Syringes are expected to be the most popular in Europe. Healthcare expenditures in Europe have increased over the past few years. Demand for syringes in the market is expected to increase as investments are made in healthcare infrastructures.
- Europe's aging population is contributing to an increase in syringe consumption. As the population ages, vaccinations and medications are administered increasingly. Innovation and technological advancements in syringes are in high demand. Both healthcare professionals and patients can benefit from auto-injectors and pre-filled syringes.
Global Syringes Market: Key Players
Syringes are a consolidated market, with a few major vendors controlling most of the market. Research & development is a top priority for key firms, especially those involved in environmental protection. Mergers & acquisitions and expanding product portfolios are key strategies key players adopt.
- Baxter International Inc.
- B. Braun Melsungen AG
- Becton, Dickinson and Company (BD)
- Cardinal Health
- Gerresheimer AG
- Medtronic plc
- Nipro Corporation
- Gerresheimer AG
- SCHOTT AG
- ICU Medical Inc.
- Terumo Corporation
- Teleflex Incorporated
- Vitrex Medical A/S (CTI Group
Key Developments
- In October 2023, ClorDiSys Solutions, Inc., headquartered in Branchburg, NJ, hosted its first European conference on Prefilled Syringes and Injection Devices, where chlorine dioxide gas technology was demonstrated. As a result of the health and environmental concerns associated with ethylene oxide gas, Pure CDTM has now been introduced into Europe.
- In November 2023, Alvotech, the world's largest biotech company that develops and manufactures biosimilars, The JAMP Pharma Group ("JAMP Pharma"), announced that Health Canada granted AVT04 marketing authorization as an Alvotech biosimilar. There will be a marketing campaign for AVT04, marketed under the name JamtekiTMThere will be a marketing campaign for AVT04, marketed under the name JamtekiTM.
Global Syringes Market: Segmentation
- Product Type
- General Purpose Syringe
- Specialized Syringes
- Insulin
- Others
- Smart Syringes
- Application
- Therapeutics
- Diagnostics
- Immunization
- Others
- Usage
- Disposable
- Conventional Syringe
- Safety Syringes
- Reusable
- Disposable
- Material
- Plastic
- PP
- LDPE
- HDPE
- Others
- Glass
- Plastic
- End-user
-
- Hospitals & Clinics
- Independent Diagnostic Laboratories
- Blood Banks
- Pharmaceuticals & Biotechnology Companies
- Veterinary Facilities
- Others
- Countries
- Germany
- United Kingdom
- France
- Spain
- Italy
- Russia & CIS
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