ROCKVILLE, Maryland, April 2, 2019 /PRNewswire/ -- A syringe is basically a medical device which is used for inserting or withdrawing fluid from a body. The overall market for syringes would experience growing traction since its pivotal importance in the surgical industries is likely to remain steady. In order to provide a better insight about the concerned market, Fact.MR has published a fresh study titled "Syringes Market Forecast, Trend Analysis & Competition Tracking: Global Market insights 2017 to 2022", to its online repository. The purpose of this assessment is to highlight the various trends and opportunities that are expected to transform the global syringes market in the coming years.
According to this Fact.MR study, more than US$ 11 Bn worth of syringes got sold around the globe in 2017. It has been noticed that, with swelling advancements in drug administration techniques, the surgical industries are likely to witness the appearance of new, multifunctional syringes that will incidentally drop a promising impact on the evolution of the global syringes market. Further, this assessment estimates the global market for syringes would soar at 7.8% CAGR during the period until 2022, acquiring revenues exceeding US$ 16.5 Bn.
Healthcare Reforms in North America Strengthens the Regional Marketplace
According to this research, North America and the Asia-Pacific excluding Japan (APEJ) regions would remain as the leading geographical sectors offering significant traction to the global syringes market. It has been observed that active reforms across the healthcare infrastructure in the U.S and Canada are expected to continue profitable for syringes market. Based on statistics, more than US$ 2.5 Bn worth of syringes were sold in 2017 across North America. It is anticipated that, these figures would soar vigorously during the forecast period to replicate 8.5% CAGR.
Obligation to Specialized Syringes Likely to Surge during Forecast Period
Since medical & surgical procedures are turning increasing complex, the demand for specialized syringes is projected to remain higher as compared to general syringes. This study reveals that, slightly less than 30% of the global syringes market value would be captured by the sales of specialized syringes. All the same, this contribution is likely to stay dominant when equated to general syringes. Interestingly, the sales of specialized syringes is anticipated to accumulate revenues more than US$ 3.5 Bn by the end of 2022.
Considering the key findings of this report, more than 99% of the global syringe sales would be controlled by plastic as raw material. Further, polymer syringes are expected to continue to acquire surplus demand, in comparison to glass syringes. This assessment also projects a substantial rise in demand for disposable syringes. Based on acquired figures, more than 80% revenues obtained in the global market have been motivated by the sales of disposable syringes.
The final section of the report is dedicated to address the competitive landscape prevailing in the global syringes market. This section carefully highlights the major players functioning in the global market for syringes, and further discourse them based on company overview, product overview and key financials. Some of the leading players mentioned in the report are Becton, Dickinson and Company, Gerresheimer AG, B. Braun Melsungen AG, Hindustan Syringes & Medical Devices Limited, Nipro Corporation, nd Codan Medizinische Geräte GmbH & Co Kg., Terumo Corporation, Medtronic PLC, Schott AG, Smiths Group plc.
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