Global Plastic Syringe Market Expected To Strengthen At A CAGR Of 5.3% by 2033 | FMI Study

The plastic syringe market is likely to grow with a global market size of US$ 3.6 billion by 2023. From 2023 to 2033, plastic syringe sales may advance at a 5.3% CAGR. The plastic syringe market may be valued at US$ 6.1 billion by 2033.

The rising prevalence of chronic diseases and increased use of safety syringes globally contribute to the demand for disposable syringe.

Healthcare Infrastructure Enhancements Propel Demand for Plastic Syringe

The increasing healthcare expenses, particularly in developing nations, have significantly contributed to the boom in medical devices such as plastic syringe. As healthcare infrastructure strengthens and consequently rises, the demand for plastic syringe increases. The plastic syringe market trend indicates a significant opportunity for healthcare-related businesses.

Entrepreneurs and investors can explore emerging economies by strategically positioning their product lines. It caters to the advancing demand for cost-effective, efficient, and safe medical devices, matching their strategies with the expanding healthcare landscape.

The Role of Plastic Syringe in Fulfilling Healthcare Demand

Plastic syringe sales have risen dramatically due to the rising prevalence of chronic diseases. A consistent plastic syringe supply for drug administration is required due to increased healthcare needs. Plastic syringes are crucial in satiating the healthcare demand since they are adaptable and affordable.

Recognizing the link between disease prevalence and syringe need for business executives highlights the ongoing plastic syringe demand. Strategic planning, quality control, and effective distribution are crucial to supply the rising demand for plastic syringe in healthcare systems.

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Asia Pacific’s Economic Expansion Strengthens Plastic Syringe Market

Asia Pacific controls most of the global plastic syringe market because of substantial economic expansion and expanding healthcare facilities. The enormous population of the region, especially in China and India, feeds a high demand for medical services, which promotes the adoption of plastic syringe.

India plastic syringe market is to exhibit a CAGR of 6.5% through 2033. India’s market strength is anchored in the size of its population, which induces substantial demand for healthcare services and goods.

Vietnam and Thailand are popular industrial hubs due to their efficient production costs. The market growth for plastic syringe is fueled by strict regulations and rising healthcare costs, which attracts enterprises as an investment opportunity.

“The plastic syringe market is augmenting steadily due to rising demand in the healthcare and pharmaceutical sectors. Market growth for plastic syringes is aided by cost-effectiveness, safety, and ease of use. The plastic syringe market may blossom, with new materials and designs to strengthen its appeal to healthcare professionals and manufacturers.” Comments an analyst at FMI.

Key Takeaways 

• The polypropylene segment in the material category to grab a share of 35.3% from 2023 to 2033.
• In the application category, the insulin syringe segment to acquire a market share of 37.1% between 2023 and 2033.
• The United States plastic syringe market to exhibit a CAGR of 2.8% by 2023.
• Canada plastic syringe market syringe market is to exhibit a CAGR of 3.9% by 2023.
• Germany syringe and needle market to register a CAGR of 2.3% by 2023.
• Japan plastic syringe market syringe market to record a CAGR of 3.2% by 2023.
• Thailand syringe and needle market to develop at a CAGR of 5.5% by 2023.
• China plastic syringe market is to accelerate at a CAGR of 5.9% through 2033.
• South Korea syringe and needle market is to experience growth at a CAGR of 4.6% from 2023 to 2033.
• The United Kingdom plastic syringe market syringe market to evolve at a CAGR of 4.4% through 2033.

Competitive Landscape

The plastic syringe manufacturers are to begin mass production, and companies active in the market are ceasing their efforts to get their products approved. Preventing accidental needle stick injuries in healthcare settings is a critical issue that disposable syringe manufacturers are concerned with.

Key manufacturers are enhancing their research and development capacities to introduce secure medical procedures, which may accelerate market growth in plastic syringe.

Key Plastic Syringe Manufacturers

• Becton, Dickinson and Company
• Braun Medical Inc.
• Gerresheimer AG
• Terumo Corporation
• Smiths Medical
• Hindustan Syringes and Medical Devices Limited
• NIPRO Corporation
• Schott AG
• CODAN Medizinische Geräte GmbH and Co KG
• CHEMI S.p.A
• Others

Noteworthy Developments

• To support the KinetiX syringe, a ready-to-administer platform comprised of plastic, Genixus planned to construct a 30,000-square-foot manufacturing facility in North Carolina, the United States, in March 2023. The facility would be supplied with automated production equipment.
• In May 2022, SCHOTT Pharma officially opened its new production plant in Müllheim, Germany, for pre-fillable syringes made of premium polymer.
• Terumo Pharmaceutical Solutions unveiled a ready-to-fill polymer syringe with a greater volume for complex biotech medications in October 2022.

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