Syringes Market to grow at a Significant Rate During the Forecast Period | TechSci Research
Rising cases of widely spreading chronic diseases is driving the growth of Global Syringes Market throughout the forecast period.
Due to the onset of COVID-19 and imposition of complete lockdown to mitigate the coronavirus, there has been shutdown of many manufacturing units and disruption in the supply chain resulting in interrupted production and lesser supply all around the globe. Also, the economy has been adversely affected in many countries resulting in the hinderance to the growth of the market. However, Global Syringes Market saw a positive growth in the second half of year 2020, due to introduction of vaccines and widespread administration all over the world through syringes. After relief from lockdown market is again going to pick up momentum to grow exponentially.
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Global syringes market is segmented based on type, material, usability, end user, and regional distribution. Based on material the market is further bifurcated into glass syringes and plastic syringes. Glass syringes are expected to dominate the market in the upcoming five years. The glass syringes are more resistive and have lesser chances of reacting with the solution inside the syringe. Thus, the demand for glass syringes is more than plastic syringes and thus driving the market toward a growth.
Based on usability, the market is categorized into reusable and disposable syringes. Sterilizable/reusable syringes are anticipated to dominate the market in the forecast period, 2022-2026. The market is anticipated to grow on account of the property of reusable syringes and its cost-effectiveness over its counter parts. Moreover, the syringes are used for easier drug delivery for the wide spreading chronic diseases thus driving the growth of the market.
Some of the major competitors in the market are Becton, Dickinson, and Company, Terumo Corporation, Medtronic plc, B. Braun Medical Inc., Nipro Corporation, Hindustan Syringes & Medical Devices Limited, Gerresheimer AG, SCHOTT AG, CODAN Medizinische Geräte GmbH & Co KG, Baxter International, Inc., West Pharmaceutical Services, Inc., Retractable Technologies, Inc., Biocon Limited, Owen Mumford Ltd, Shandong Weigao Group Medical Polymer Co., Ltd., among others. The companies are focusing on extensive research and developments activities to stay competitive in the market. Other competitive strategies include formation of alliances and partnerships.
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“Technological advancement for product development is driving more scope for new investments. Key players are actively involved in the research and development of better products. North America is dominating the market for last five years and is expected to continue its dominance, so it is advisable for the new investors looking at lifestyle changes and the increasing number of chronic diseases in the region, that global syringes market is expected to witness promising potential for future investments,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based Global management consulting firm.
“Global Syringes Market By Construction Method (Extrusion v/s Powder Bonding) By Construction Type (Modular v/s Full Building) By Printing Technology (Fused Deposition Modelling (FDM), Wire Arc Additive Manufacturing (WAAM), Big Area Additive Manufacturing (BAAM), Stereolithography (SLA), Selective Laser Sintering (SLS), Selective laser melting (SLM), Others) By Material Type (Concrete, Metal, Composite, Plastics, Others) By End User Industry (Building v/s Infrastructure) By Region, Competition Forecast & Opportunities, 2026”, has evaluated the future growth potential of Global Syringes and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Syringes.
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