Micro Syringes Market Trends

  • Report ID: 3989
  • Published Date: May 23, 2023
  • Report Format: PDF, PPT

 

Micro Syringes Market Trends

Growth Drivers

  • Increasing Number of Preclinical, and Clinical Trials – The need to figure out the efficacy of drug discovery and micro syringe treatment is responsible for the surging number of clinical trials. World Health Organization (WHO), has registered 157,618 trials during 1999-2021 in the United States of America.
  • Growing Pharmaceutical & Biopharmaceuticals Industry – Incessant research to develop new drugs and drug delivery systems in the pharmaceutical industry is set to augment the demand for micro syringes in the upcoming years. Micro syringes have shown profound promise in biopharmaceutical, and biomedical applications.
  • Increasing Demand for Minimally Invasive Procedures – The rising popularity of minimally invasive cosmetic surgery procedures worldwide with the astounding surge in the volume of cosmetic and aesthetic treatments via injection will impel the micro syringes market revenue.
  • Scaling Up Doses of Vaccination – Expanding vaccine industry and the rising focus of governments to act on immunization plans is driving the demand of micro syringes. About 16 billion vaccine doses were supplied globally in 2021, ~3 times the 2019 market volume.

Challenges

  • Dearth of Skilled Professionals – Micro syringes are generally utilized by patients who have received special training as they cannot be easily used. Hence, the lack of trained personnel who monitor on correct injection method, safe needle disposal, and other issues are hindering the penetration of such syringes for mass utilization.
  • Stringent guidelines for the use of safety-engineered syringes
  • High cost of production

Micro Syringes Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~ 7%

Base Year Market Size (2022)

~ USD 300 Million

Forecast Year Market Size (2035)

~ USD 700 Million

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Browse Key Market Insights with Data Illustration:


Author Credits:  Radhika Pawar


  • Report ID: 3989
  • Published Date: May 23, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The increasing volume of clinical trials and preclinical trials with growing research studies & development in healthcare, pharmaceutical, life science, and several other fields is estimated to boost the market growth.

The market size of micro syringes is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2023-2035.

High production costs of micro syringes are estimated to be the growth hindering factors for the market expansion.

The North American market in the region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

The major players in the market are Trajan Scientific and Medical, Agilent Technologies, Inc., Shimadzu Corporation, Avantor, Inc., ITO Corporation, Merck KGaA, and Thermo Fisher Scientific Inc.

The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company

The market is segmented by type, needle type, end-user, and by region.

The removable segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
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