Global Syringes Market Expected to Register 7.6% Revenue CAGR Over the Forecast Period

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According to a recent report by Reports and Data, the global Syringes market size was USD 12.22 Billion in 2022, and it is projected to grow at a CAGR of 7.6% over the forecast period.

According to a recent report by Reports and Data, the global Syringes market size was USD 12.22 Billion in 2022, and it is projected to grow at a CAGR of 7.6% over the forecast period. Syringes are medical devices used to administer medicines, vaccinations, and other therapeutic substances to patients. The increasing prevalence of chronic diseases and the rising demand for reliable and safe drug delivery systems are the key factors driving the revenue growth of the market.

The World Health Organization (WHO) has estimated that the number of diabetics increased from 108 million in 1980 to 422 million in 2014. This has resulted in an increase in demand for injectable medications, which is further driving the growth of the syringes market. Moreover, the market is witnessing significant growth due to advancements in syringe design and manufacturing, leading to the production of more reliable and safe syringes.

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The market revenue is expected to continue to grow due to the increasing use of auto-disable syringes, particularly in vaccination programs in countries where syringe reuse is common. WHO recommends the use of auto-disable syringes to prevent the spread of infectious diseases. As a result of the growing awareness of the importance of stopping the transmission of infectious diseases, the use of auto-disable syringes has increased.

The conventional syringes segment had the highest revenue share in the overall syringes market in 2022 due to the increasing incidence of chronic diseases such as diabetes and cancer, and the need for vaccination programs.

The therapeutic injections segment had the largest revenue share in the global syringes market in 2022 due to the increasing incidence of chronic diseases such as diabetes, cancer, and autoimmune disorders. The Asia Pacific region dominated the global syringes market in 2022 due to the increasing prevalence of chronic diseases, an aging population, and increased healthcare spending.

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Some of the prominent players in the global syringes market include Becton, Dickinson and Company, Gerresheimer AG, Schott AG, West Pharmaceutical Services, Inc., Nipro Corporation, TERUMO CORPORATION, Medtronic, B. Braun Melsungen AG, Smiths Medical, Inc., and Cardinal Health, Inc. These companies are focusing on developing advanced syringes to meet the increasing demand for safe and reliable drug delivery systems.

In conclusion, the global syringes market is expected to experience significant growth over the forecast period due to the increasing prevalence of chronic diseases and the rising demand for safe and reliable drug delivery systems. The use of auto-disable syringes is also expected to drive market revenue growth. The conventional syringes and therapeutic injections segments are expected to continue to dominate the market.

The Asia Pacific region is expected to remain the largest market for syringes due to the increasing prevalence of chronic diseases and an aging population.

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