Syringes and Needles Market - Global Outlook & Forecast 2024-2029

MARKET INSIGHTS

The global syringes and needles market was valued at USD 29.85 billion in 2023 and is expected to reach USD 47.20 billion by 2029, growing at a CAGR of 7.93% during the forecast period. The market growth can be attributed to multiple factors, including an increasing geriatric population, growing consumer awareness regarding usage, high prevalence of chronic cases, increasing incidence of hospital-acquired infections, and growing adoption of syringes & needles in treating diabetes. Other factors such as technological & material advancements, introduction of new products, well-developed healthcare infrastructure, extensive research & development activities, presence of leading key vendors, and government support also contribute to the growth of the syringes and needles market. With increasing instances of hospital-acquired infections, there is a high demand to reduce hospital-acquired infections and maintain safe laboratory practices. Hence, the increased focus on avoiding needle stick injuries and infection transmissions by medical practitioners is boosting the growth of safe syringes and needles in the market.

MARKET TRENDS & DRIVERS

Increasing Demand for Insulin Syringes
The diabetic population is increasing at a faster rate in the APAC region. Insulin syringes are mainly used among diabetic patients as they are very cheap and readily available, and these are single-use disposable syringes. Almost 40% of the total diabetic patients are using these syringes, and vendors have a massive opportunity to satisfy the demand these patients create in supplying insulin syringes.

Rising Demand for Injectable Drugs
The demand for injectable drugs has been increasing in recent years. These drugs treat diseases like rheumatoid arthritis, multiple sclerosis, cancers, and autoimmune disorders. Most pharmaceutical companies invest in developing new and complex molecules for addressing these diseases through injectable ways, allowing syringe and needle manufacturers to develop their products.

Rising Demand for Pre-filled Syringes
The innovations in prefilled syringes provide patient and caregiver safety and reduce product and packaging material waste. As it is already packaged and ready to use, it saves time and avoids unneeded handling before the application. Prefilled syringes help in minimizing the risks of injection errors. It is estimated that prefilled syringes currently account for 10-15% of the parenteral market, and anticipate rising demand as the top 40 injectable products are being used with prefilled syringes.

SEGMENTATION INSIGHTS

INSIGHTS BY PRODUCT TYPE
The syringes product segment accounted for the largest global syringes and needles market share in 2022. The demand for syringes is growing owing to factors such as the high and rising burden of chronic diseases and infectious diseases, increased adoption of injectable drugs, and technological advancements in syringes by medical device companies. The syringe market is categorized based on type and usability. By type, the segment is further divided into general and specialized syringes. The general segment dominated the market in 2023, while the specialized segment is expected to grow faster during the forecast period. Regarding usability, the syringes segment is segmented into disposable and sterilizable. The disposable syringes market dominated the market share; this dominance is due to the rising incidences of contamination and infections, the reuse of syringes, the growing incidence of chronic diseases, and the high demand for vaccination.

The needles segment is growing significantly in the global syringes and needles market. This growth is due to the increasing demand for needles to administrate drugs and supply nutrients to patients. The increasing prevalence of diabetes is boosting the demand for injecting insulin. By type, the segment is further divided into conventional and safety needles. The demand for safety hypodermic needles is expected to increase with the rising popularity of safety syringes, needles, and other safety-engineered medical devices. Vendors such as BD, B Braun, Smiths Medical (acquired by ICU Medical), and Terumo manufacture conventional needles that help attain economic balance in the medical sector.

INSIGHTS BY END-USER
The global syringes and needles market by end-user type includes segments such as hospitals, clinics, home healthcare settings, and others. The hospital end-user segment dominates the global market share in 2023. Hospitals are the primary point of contact for any illness & injuries and are the major revenue contributors. All hospitals use needles and syringes to withdraw blood or fluid samples and administer drugs or vaccinations. In emergency and inpatient settings, blood collection through IV lines has become popular in recent years due to its higher efficiency associated with the dual use of single venous access for medication infusions and multiple blood specimens for diagnosis and treatment purposes. Further, the clinic end-user segment is expected to grow significantly in the global syringes and needles market during the forecast period. IVF and rehabilitation clinics use many needles and syringes for medical and vaccination procedures, boosting the market.

INSIGHTS BY PATIENT GROUP
The adult patient group segment accounted for the most prominent global syringes and needles market share in 2023. The segment is the major revenue contributor due to the increasing application of injections to treat diseases such as cancer, diabetes, and several viral infections. The growing elderly population, prone to chronic diseases, is another major revenue contributor to the healthcare industry. Furthermore, the pediatric segment is expected to grow at a CAGR of over 7% during the forecast period. The segment is driven by a surge in demand for syringes & needles in pediatrics, improving birth rates worldwide and boosting the usage of injections. Moreover, the increase in chronic disease prevalence in the pediatric population is a significant factor driving the use of syringes and needles.

GEOGRAPHICAL ANALYSIS

The North American syringes and needles market is driven by the rising incidence of chronic and infectious diseases, with hospitals, clinics, and Ambulatory Surgical Centers (ASCs) emerging as significant revenue generators. The U.S. and Canada are the primary revenue contributors to the market. The adoption of syringes and needles with safety mechanisms is higher in North America than in other regions. The market is growing significantly, which is expected to continue during the forecast period due to the rise in demand for safety injections, technological & material advancements, introduction of new products, well-developed healthcare infrastructure, and extensive research & development activities.

VENDOR LANDSCAPE

The global syringes and needles market share is fragmented and intensifying due to rapidly changing technological innovations. The key global syringes and needles market players are BD, B Braun Melsungen, Nipro Corporation, Terumo, and Cardinal Healthcare. All these companies have a significant presence in prominent geographical regions such as North America, APAC, and Europe. Major players focus on strategic acquisitions, licensing, and collaboration agreements with emerging players to enter the global syringes & needles market and access commercially launched products.

Recent Developments in the Global Syringes and Needles Market

• In 2023, Nipro launched the Silicone Oil-Free D2F Pre-fillable Glass Syringe System. This new drug delivery system is a solution for drug products highly sensitive to silicone oil.
• In 2022, BD and Biocorp signed an agreement to integrate digital technology with self-administered therapies via connected drug delivery. The two companies will integrate Biocorp’s Injay technology into the BD UltraSafe Plus Passive Needle Guard used with prefillable syringes.
• In 2022, Terumo Corporation launched The PLAJEX 0.5mL Luer Lock Silicone oil-free pre-fillable syringe for low-dose applications such as ophthalmic drugs.