Hypodermic Syringes Market: An Overview
The hypodermic syringe is a type of medical device which is used to withdraw fluid from the body or injecting fluids into the body. Hypodermic ‘Hypo’ in means beneath and ‘derm’ means skin. The hypodermic syringes market is composed for extensive growth mainly due to the ease-of-use factor offered by these syringes to healthcare professionals and patients due to support of government to minimize safety errors and dosing errors associated with the use of syringes. Manufacturers are focusing on accurate dosing along with a reduced likelihood of contamination. Furthermore, reduction in cost per dosage and greater patient compliance are the unmet needs in the global market which in turn offers enormous opportunities to the market players operating in the global hypodermic syringes market during the forecast period.
Hypodermic Syringes Market: Dynamics
The global market for hypodermic syringes is expected to flourish on the backdrop of the global pharmaceutical industry during the forecast period. Hypodermic prefillable syringes are preferred over the after filled syringes as it offers fixed dosages of the drug along with ease in usability. Prefill ability helps in reducing the overall cost by reducing the drug overfill. Single dose vials or multi-dose vials have a drug overfill of almost 20-25% so that the administrator has enough to fill the correct dose and to compensate for human errors. However, prefilled hypodermic syringes eradicate the source of inefficiency in the manufacturing process by eliminating drug overfills. This is particularly advantageous for companies dealing with costly biopharmaceuticals. The growth of the biologics market is likely to boost the hypodermic syringes market.
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The conventional syringes were made of glass barrels and glass rods, which were comparatively expensive to manufacture when compared to plastic-based hypodermic syringes. Healthcare workers benefit from the accurate and pre-measured doses. They are also helped by reduced dosing, medication errors and decreased microbial contamination risk. Along with this, an increasing trend of people getting vaccinated outside hospitals such as in schools, community centers, pharmacies, and airport booths is likely to contribute towards the growth of the hypodermic syringes market.
Hypodermic Syringes Market: Segmentation
The global market for hypodermic syringes has been characterized based on material type.
On the basis of material type, the global hypodermic syringes market has been segmented as:
- Polymer Syringes
- Cyclic olefin polymers (COP)
- Cyclic olefin copolymers (COC)
- Polypropylene and other Polymers
- Glass Syringes
On the basis of sales channel, the global hypodermic syringes market has been segmented as:
On the basis of end-user, the global hypodermic syringes market has been segmented as:
- Diabetic Care Centers
- Blood Collection Centers
- Veterinary Care Centers
Hypodermic Syringes Market: Regional Outlook
Geographically, the global hypodermic syringes market has been divided into seven key regions which include North America, Latin America, East Asia, South Asia, Europe, Middle East & Africa (MEA) and Oceania. Europe is expected to hold maximum market share in the global hypodermic syringes market owing to the well-established healthcare industry in the region. The healthcare sector in India is diversified and offers enormous opportunities in every segment which includes payers, providers, and medical technology. Increasing competition pushing businesses to explore and adapt according to the latest trends and dynamics is expected to impact the hypodermic syringes market in the country positively. There is a direct effect of many physician visits in the contribution of revenue generation in the industry. The demand for medical devices rises substantially with an increase in the number of physician visits. This is expected to further contribute to the global hypodermic syringes market during the forecast period.
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Hypodermic Syringes Market: Key Players
Following are some of the key players operating in the global hypodermic syringes market: Terumo Corporation, Albert David Ltd., Becton, Dickinson and Company, Nipro Corporation, Smiths Medical, Hindustan Syringes & Medical Devices Limited, etc. Many local and unorganized players are expected to contribute to the global hypodermic syringes market during the forecast period.