Global Syringes and Cannulas Market: Overview
Syringes and cannulas have seen significant technical advancements throughout the forecast period, from 2021to 2031. With the use of multi-chamber syringes, better lubrication technology, and the advent of needle-stick safety-equipped devices, amongst various other technical advancements linked to disposable syringes, has increased demand for disposable syringes throughout regions. In addition, the emergence of different safety measures such as sophisticated retractable needle systems and passive needle guards with a plastic shield is tackling the problem of needle-stick injuries in a significant way. Advancements in syringe decrease the combined concerns of syringe reuse and unintentional needle stick injuries. Syringes with automatic retraction technology, for example, prevent the possibility of a compromised needlestick and sharp injuries to healthcare personnel. Furthermore, the automatic withdrawal of the needle essentially prevents the instrument from being reused. As a result, recent technical improvements are a significant driving reason behind growing syringe and cannula demand, which is likely to support growth of the global syringes and cannulas market in the years to come.
Transparency market research offers a comprehensive understanding of the global syringes and cannulas market through this report. It provides well-researched data on a wide variety of market aspects in order to provide useful business input for profit making.
Expanding operations in future? To get the perfect launch ask for a custom report
Global Syringes and Cannulas Market: Notable Developments
Applied Medical Devices Corporation stated in October 2017 that it will expand its medical device production and research and development facilities in Europe and Middle East and Africa.
The noted players that are operational in the global syringes and cannulas market are Abu Dhabi Medical Devices Company, Hindustan Syringes & Medical Devices Ltd., Selia-Tek Medical Sdn Bhd, Applied Medical Resources Corporation, Schott Kaisha Private Limited, and Becton Dickinson and Co.
Global Syringes and Cannulas Market: Key Trends
Below-mentioned market trends and opportunities mark the global syringes and cannulas market:
Demand to Ride on the Back of Rise in Infectious Diseases Worldwide
As the incidence of infectious illnesses and contagious disorders rises, the demand for reusable and disposable syringes is projected to rise. The number of vaccination efforts undertaken by government as well as non-governmental groups has increased significantly, resulting in augmented demand in the global syringes and cannulas market in the near future.
In addition, the growing number of medical operations that need cannulas is projected to boost demand. Developments in healthcare infrastructure are contributing to an increase in the number of clinics in undeveloped areas. Market expansion for syringes and cannulas is likely to be aided by an increase in the number of manufacturers of medical device in countries such as China and India.
Demand for syringes and cannulas is projected to rise across territories as the prevalence of chronic disorders and pandemics such as COVID19 rise. Leading biopharmaceutical companies are concentrating their efforts on creating vaccinations to combat the illness. As a result of rising vaccine demand and the start of global immunization campaigns, syringe demand is at its all-time high. Because of its low cost and large production capacity, countries like India are anticipated to see a surge in syringe demand. Several medical equipment companies have begun producing and storing syringes in anticipation of future demand. In the case of cannulas, however, there has been a considerable decrease in hospital visits of patients, as well as a drop in the number of procedures, resulting in a negative influence on market growth.
Request a sample to get extensive insights into the Syringes and Cannulas Market
Global Syringes and Cannulas Market: Geographical Analysis
The syringe and cannula market in North America is expected to be one of the most rewarding regions. With the presence of several notable players in the region, the US is a major contributor towards the growth of the North America market.
The US comes with a high rate of syringe and cannula commercialization and approval, accounting for a substantial chunk of North America revenue. In addition, the US Food and Drug Administration's tough restrictions against the reuse of single-use syringes is likely to bode well for the country's growth. Furthermore, the country's well-developed healthcare infrastructure has attracted a huge number of patients seeking complicated treatments, which is estimated to aid market expansion.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.