Pre-Filled Saline Syringes Market Rising Incidence of Hospital-Acquired Infections is expected to boost the market growth over the years
The pre-filled saline syringes market accounted to US$ 402.5 Mn in 2018 and is expected to grow at a CAGR of 7.2% during the forecast period 2019 - 2027, to account to US$ 744.4 Mn by 2027.
The Asia Pacific market is expected to grow at the highest rate during the forecast period owing to the increasing prevalence of chronic diseases, rising geriatric population, rising incidence of hospital-acquired infections, and increasing medication errors. In addition, the risk of cross-contamination in multi-dose vials is expected to fuel the market growth in the Asia Pacific region.
The elderly people are more likely to have cancer than younger people, and the effect of the disease on quality of life is particularly deep in this population. With an increase in the number of geriatric population, the prevalence of chronic diseases has increased. Therefore, the demand for pre-filled saline syringes products is expected to increase in the forecast period.
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Key findings from the report
The global pre-filled saline syringes market, based on type is segmented into 3ml Syringes, 5ml Syringes, 10ml Syringes, and Others. In 2018, the 3 ml Syringes segment held the largest share of the market, by type. This segment is also expected to dominate the market in 2027 owing to high demand for hospital disposables, ease of use, easy availability, and a growing number of multispecialty hospitals. Moreover, 3 ml syringes segment is anticipated to witness the significant growth rate of 7.8% during the forecast period owing to the factors such as the rising prevalence of chronic diseases and hospital acquired diseases that trigger increased utilization of pre-filled saline syringes which helps to avoid the cross medication.
Key factors driving the market are increasing medication errors, risk of cross-contamination in multi-dose vials, increase in, and self-injectable medicines to avoid visits to hospitals. However, factors such as frequent product recall and stringent regulatory requirements can restrict market growth.
Some of the prominent players operating in the market are, BD, Cardinal Health, MedXL Inc., Guerbet Group, Sterisets Medical Products, DBM, B. Braun Medical Inc., Wolf Medical Inc., Aquabiliti and Baxter Healthcare Corporation. The market players are focused on bringing new and innovative products to sustain their position in the market. For instance, in September 2018, MedXL expanded the business by registering its products of pre-filled saline syringes in Singapore.
Pre-Filled Saline Syringes Market to 2027 - Global Analysis and Forecasts by Type (3ml Syringes, 5ml Syringes, 10ml Syringes, and Others); End User (Hospitals, Outpatient Clinics, and Homecare Settings), and Country
For the purpose of this report, Reports and Data has segmented the global pre-filled saline syringes market on the basis of type, product, platform, end user, and region:
• 3ml Syringes
• 5ml Syringes
• 10ml Syringes
• Outpatient Clinics
• Homecare Settings
• North America
• Asia Pacific (APAC)
• South Korea
• Middle East & Africa (MEA)
• Saudi Arabia
• South Africa
• South America (SAM)
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