Market Overview-

The global syringe and needle market size is expected to grow USD 14.74 billion by 2032 at a CAGR of 5.90% and surpass its previous revenues over the forecast period of 2023–2032, as per a research report published by Market Research Future (MRFR). The syringe and needle market is a crucial component of the healthcare industry, facilitating precise medication administration and fluid extraction across various medical settings. Within this market, a notable segment gaining traction is insulin pen needles. As the prevalence of diabetes continues to rise globally, the demand for efficient insulin delivery systems has intensified. Insulin pen needles offer a convenient and less invasive method for diabetic patients to administer insulin compared to traditional syringes. This has led to a surge in the production and adoption of insulin pen needles by both healthcare providers and patients, driving growth in the syringe and needle market.

The emergence of insulin pen needles within the syringe and needle market is also influenced by advancements in technology and manufacturing processes. Manufacturers are continuously innovating to improve the design, functionality, and safety features of insulin pen needles, enhancing user experience and ensuring precise insulin dosage delivery. Additionally, the growing emphasis on patient comfort and adherence to treatment regimens has propelled the development of insulin pen needles with finer gauges and shorter lengths, minimizing pain and discomfort during injections. With these advancements and the increasing prevalence of diabetes worldwide, the insulin pen needle segment is expected to sustain its growth trajectory, contributing significantly to the overall expansion of the syringe and needle market.

Segmentation

The global syringes and needle market has been segmented based on type, therapeutic application, usability, and end-user. By type, the market has been segmented into Blood Collection, Intravenous, and Catheter. By therapeutic application, the market has been segmented into General Surgery and Diagnostic. By usability, the market has been segmented into disposable and reusable. By end user, the market has been segmented into Hospitals & Clinics and Home Care.

Competitive Landscape

Global Syringe and Needle Companies include

• Braun Medical Inc.,
• Terumo Corporation,
• Albert David Ltd,
• Covidien Plc,
• Smiths Medical, and
• Connecticut Hypodermics Inc.

Regional Analysis

The key markets of the global syringes and needle market include North America, Europe, Asia Pacific and the Middle East & Africa. North America accounts for the majority share of the global market owing to the prevalence of chronic diseases in the region coupled with increased R&D activities which induce the demand of the market. Additionally, the presence of a large customer base in the region also propels the market growth. Europe is the second largest market owing to increased R&D spending by pharmaceuticals and biotechnology sector in the region. Presence of a developed healthcare sector also supports the market growth in the region. Asia Pacific is expected to be the fastest growing market over the forecast period. The growth in the region would be favored by the prevalence of chronic diseases in the region which escalates the need for treatment and growing research and development in the field of life sciences in the region.  The Middle East & Africa region is expected to exhibit the least growth over the forecast period due to less expenditure on healthcare and limited growth of the healthcare sector in the region.

For more information, Please Visit us @ Market Research Future