The Asia Pacific syringe market is projected to reach US$ 5,946. 66 million by 2027 from US$ 2,654. 58 million in 2019; it is estimated to grow at CAGR of 10. 5% from 2020 to 2027. The growth of the Asia Pacific syringe market is driven by factors such as the growing number of chronic and infectious diseases, and increasing use of injectable drugs.
New York, Nov. 27, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Asia Pacific Syringe Market Forecast to 2027 – COVID-19 Impact and Regional Analysis – By Syringe Type, Application, Usability, and End User and Country" - https://www.reportlinker.com/p05989510/?utm_source=GNW
However, the rising number of cases of needle-stick injuries hinders the growth of the market.
Syringes play a major role in the administration of vaccines, nutritional supplements, medicines, and so on. Increasing prevalence of chronic medical conditions and rising patient population are prominently expected to drive the market growth during the forecast period.
Parenteral injections confer greater reliability and precision of drug dosage, as well as rapid initiation of drug action.Injectable drug delivery devices such as conventional syringes, needle-free injectors, and auto and pen injectors are extensively used in the therapeutics of cancer and autoimmune disorders, among many other medical conditions.
There is an increasing demand for vaccines, insulin, human growth hormones, and many modern medicines to treat cancer and other chronic diseases.As per the BioPharm International, biologics currently account for ~70% of the world’s top-10 selling drugs.
The biologics are mainly administered through the injectable route.According to the American Diabetes Association, diabetic individuals in Asian countries account for 60% of total cases of diabetes in the world; this has increased insulin demand, which boosts the use of syringes for insulin administration.
Thus, the rising adoption of injectable drugs demands increased use of syringes, which is, in turn, expected to boost the market growth.
On the basis of syringe type, the Asia Pacific syringe market is subsegmented into luer lock syringes, glass syringes, luer slip syringes, and others.In 2019, the luer lock syringes segment accounted for the largest share of the market.
However, the market for glass syringes is estimated to grow at the highest CAGR of 11.3% during the forecast period.
On the basis of application, the Asia Pacific syringe market is segmented into aesthetics, human health, lab/industrial, and others. The human health segment held the largest share of the market in 2019; moreover, aesthetics segment is estimated to register the highest CAGR of 11.6% in the market during 2020–2027.
On the basis of usability, the Asia Pacific syringe market is segmented into sterilizable/reusable syringes and disposable syringes. The disposable syringes segment held a greater share of the market in 2019; moreover, it is estimated to register a faster CAGR of 10.7% during the forecast period.
On the basis of end user, the Asia Pacific syringe market is segmented into hospitals and clinics, blood collection centers, diabetic care centers, and others.The hospitals and clinics segment held the largest share of the market in 2019.
However, the market for diabetic care centers is estimated to grow at the fastest CAGR of 11.5% from 2020 to 2027.
The major primary and secondary sources referred to while preparing the report on the Asia Pacific syringe market are the World Health Organization (WHO), Food and Drug Administration (FDA), United States Nations Department of Economic and Social Affairs, American Society of Plastic Surgeons, U.S. Department of Health and Human Services, Arthritis Foundation, and American Diabetes Association, among others.
Read the full report: https://www.reportlinker.com/p05989510/?utm_source=GNW
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