Syringes and Cannulas Market Global Trends, Market Share, Industry Size, Growth, Opportunities, and
Global syringes and cannulas market is envisioned to value over US$ 24.5 Billion by 2029 end and register a CAGR of over 4% from 2019 to 2029. Rising surgeries alongside a growing pool of patients ar...
Global syringes and cannulas market is envisioned to value over US$ 24.5 Billion by 2029 end and register a CAGR of over 4% from 2019 to 2029.
Rising surgeries alongside a growing pool of patients are accelerating the growth of the market. Since the healthcare industry requires syringes and cannulas in bulk, multiple local manufacturers have appeared to fulfil the bulk supply with affordable rates. This has inflated the size of the market.
Based on end users, the market is divided into hospitals, diagnostic laboratories, clinics, nursing facilities, and others. Hospitals are expected to dominate the market during the forecast period. Hospital is equipped with the latest technologies and skilled professionals The rising number of procedures alongside rising healthcare expenditure remains the key factor behind the growth. Clinics are also expected to complement the growth of the market during the forecast period. Approval of US$ 105 Million non-reimbursable funds approved by government based primary healthcare remains a key factor behind the expansion of clinics in the US.
Based on regions, North America holds the majority share of the market. The presence of prominent players alongside the rising number of surgeries remains the major factor behind the growth of the market. Asia-Pacific region is expected to dominate the market in the coming years. Growing R&D investments coupled with the rapid increase of healthcare infrastructure is driving the growth of the market in the region. Availability of the products at affordable rates is also complementing the growth of the market in the region. For instance, the National Pharmaceutical Pricing Authority (NPPA) in India estimated a mark-up of approx 64% in retail prices of syringes in FQ 2019.
Established players of the market are Lifesciences Corporation, Medtronic Plc., Becton, Edwards Lifesciences Corporation, B.Braun Melsungen AG and others.
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Global Syringes and Cannulas Market Segmentation
By End Users
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