The North American syringe market is anticipated to achieve a value of US$ 9,612.96 million by the year 2027, up from US$ 4,427.49 million in 2019, reflecting a compound annual growth rate (CAGR) of 10.1% from 2020 to 2027.
Several factors are propelling the expansion of the North American syringe market, including the rising incidence of chronic and infectious diseases alongside a growing preference for injectable medications. Nevertheless, the increasing frequency of needle-stick injuries poses a challenge to market growth.
Syringes are essential for administering vaccines, nutritional supplements, and various medications. Their applications range from delivering liquid nutrition through feeding tubes to facilitating vaccinations. The escalating prevalence of chronic illnesses and the growing patient demographic are expected to significantly contribute to market growth throughout the forecast period.
Devices for injectable drug delivery, including traditional syringes, needle-free injectors, and auto-injectors or pen injectors, are widely utilized for administering treatments for a variety of conditions, from cancer to autoimmune diseases. The injectable route is primarily used for the delivery of biologics. According to a report by The Economist, over 900 biologics were in development in the United States in 2015 for the treatment of more than 100 diseases. Additionally, there is an increasing demand for vaccines, insulin, human growth hormone, and various modern therapies for cancer and other chronic conditions. As reported by BioPharm International, biologics currently represent approximately 70% of the top ten best-selling drugs globally.
Consequently, the growing acceptance of injectable medications is driving the demand for syringes, thereby enhancing the growth of the syringe market in North America.
The syringe market is categorized by type into luer lock syringes, glass syringes, luer slip syringes, and other variants. In 2019, luer lock syringes held the largest market share. However, the glass syringes segment is projected to experience the highest CAGR of 10.9% during the forecast period.
When segmented by application, the market includes aesthetics, human health, laboratory/industrial, and other categories. The human health segment dominated the market in 2019 and is expected to grow at the highest CAGR of 10.3% during the forecast period.
In terms of usability, the market is divided into sterilizable/reusable syringes and disposable syringes. The disposable syringes segment accounted for the largest market share in 2019 and is also expected to grow at a CAGR of 10.3% during the forecast period.
By end user, the market is segmented into hospitals & clinics, blood collection centers, diabetic care centers, and others. The hospitals & clinics segment held the largest market share in 2019, while the diabetic care centers segment is projected to grow at the highest CAGR of 11.1% during the forecast period.
Key primary and secondary sources utilized in the preparation of the North American syringe market report include the World Health Organization (WHO), the Food and Drug Administration (FDA), the United Nations Department of Economic and Social Affairs, the American Society of Plastic Surgeons, the U.S. Department of Health and Human Services, the Arthritis Foundation, and the American Diabetes Association, among others.