Asia Pacific Syringe Market to Reach US$ 5,946.66 million at a CAGR of 10.5% in 2027

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Market Size (2019): US$ 2,654.58 Mn

Forecast Market Size (2027): US$ 5,946.66 Mn

CAGR (2020–2027): 10.5%

Primary Growth Drivers: Increasing Number of Chronic and Infectious Diseases, Increased Adoption of Injectable Drugs

Key Trends: Growing Inclinations Toward Prefilled Syringe Systems

Growth Opportunities: Product Launches by Market Players

Base Value (2019)

US$ 2,654.58 Mn

Projected (2027)

US$ 5,946.66 Mn

CAGR (2020-2027)

10.5%

Glass syringes segment by type is estimatedtolead the market growthduring the forecast period

According to a new market research study of “Asia PacificSyringe Market Forecast to 2027 - COVID-19 Impact and Global AnalysisbySyringe Type, Application, Usability, and EndUser,”theAsia Pacific syringe market is projected to reach US$ 5,946.66 million by 2027 from US$ 2,654.58 million in 2019. The market is estimated to grow at CAGR of 10.5% from 2020 to 2027. The report highlights trends prevailing in the Asia Pacificsyringe market and the factors driving market along with those that act as hindrances.

Based on syringe type, the syringe market is segmented into luer lock syringes, glass syringes, luer slip syringes, and others.

In 2019, the Luer-Lock syringes segment accounted for the highest share of the market in 2019. However, the glass syringes segment is estimated to register the highest CAGR of 11.3% in the market during the forecast period. Growth of this segment is attributed to the increasing adoption of luer lock syringes due to ease of administration and increasing patient pool across the globe. However, glass syringes are likely to register highest CAGR in the global syringes market during the forecast period.

The Luer-Lock syringes used for essential clinical applications in which disengagement of needle is to be avoided in order to prevent medication leakage or spray. A Luer lock syringe allows screw-fixation and is therefore a more convenient to inject. Luer lock syringes are more widely used for using a syringe pump for prolonged IV infusion or in cases such as chemotherapy infusion where a stable connect is crucial. Administering IV flushes/boluses through a Luer lock syringe is considered as best clinical practice. The Needle is affixed to the Syringe by twisting it into the Syringe Tip threads to lock it in place. PLAJEX (pre-filled syringes with staked needle) is a product line of Terumo Corporation. In January 2017, a new version was introduced with a Threaded Closure polymer prefillable syringe in its pre-filled syringes product range called PLAJEX Luer Lock. The company is known for developing the world's thinnest NANOPASS 34 needle for self-injection insulin devices. This also emphasizes higher investments on R&D to develop new and innovative products.

Asia Pacificsyringe market is expected to grow owing to factors such asgrowing number of chronic diseases and infectious diseases and increased adoption of injectable drugs. However, the market is likely to have negative impact due to growing cases of needle-stick injuries.

BD, Baxter International Inc., Terumo Corporation, Cardinal Health Inc, Nipro, B. Braun Melsungen AG, INC., HENKE-SASS, WOLF are among the leading companies operating in the Asia PacificSyringe Market.