Syringes and Cannulas Market
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. Syringes and cannulas are medical instruments which are prominently used for fluid extraction from the body and performing surgeries. Syringes consist of a hollow cylinder which is attached to a sliding plunger and a needle, whereas cannula consists of a retractable inner alongside a thin hollow tube. The market is categorised as product type and end users. Product type consists of syringes and cannulas. The advent of prefilled syringes is expected to propel the market growth in the upcoming years. Syringes are witnessed to dominate the market. The growing emphasis on disposable syringes has fuelled the market growth. Disposable syringes prevent spreading of infectious disease. WHO's initiative of using smart syringes for promoting safe syringe usage is expected to propel the market growth. Moreover, rising use of auto-disable syringes is expected to complement the market growth. Further advancements in needleless connectors is giving an efficient replacement of cannulas. Immense investments in research and development activities to develop the next-gen medical tool would accelerate the growth of the syringes and cannulas market. Based on regions, North America leads the syringes and cannulas market. The presence of key players alongside the rising number of surgeries are the major factors responsible for 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 growth of healthcare infrastructure is driving the market augmentation in the region. Furthermore, availability of the products at affordable rates is complementing the growth of the market in the region. For instance, the National Pharmaceutical Pricing Authority (NPPA) in India projected a mark-up of around 64% in retail prices of syringes in FQ 2018. Understanding markets and consumer mindsets is what differentiates great companies from good ones. Every index for industry leadership lists companies that strategise based on the right current and forecast data. At FutureWise, we provide the latest and most pertinent information to organizations, using the latest market research methodologies. We specialise in high-growth niche markets, assuring flexibility, agility and customized solutions for our clients. Through in-depth market insights and consultancy, we present our clients with the tools they need to be at the forefront of their industry u2013 a position secured for far more than the near future. Healthcare and life sciences verticals are unprecedented and dynamic. FutureWise with its unique services model is supporting their clients to overcome such challenges and foresee the disruption, which may affect their business. To strengthen your business position, and stay ahead of the competition- consult with our healthcare research experts.
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