The global pre-filled saline syringes market is expected to reach US$ 744.4 Mn in 2027 from US$ 402.5 Mn in 2018. The market is estimated to grow with a CAGR of 7.2% from 2019-2027.
The growth of the pre-filled saline syringes market is primarily attributed to the factors such as the increasing prevalence of chronic diseases, rise in influence of hospital-acquired infections, increasing medication errors, risk of cross-contamination, high demand for hospital disposables, and a growing number of multispecialty hospitals. However, factors such as frequent product recall of pre-filled saline syringes are likely to pose a negative impact on market growth. On the other hand, growth opportunities in emerging regions are likely to have a positive impact on the growth of the global pre-filled saline syringes market in the coming years. With a rise in cases of chronic illnesses such as cancer, cardiovascular diseases, and hypertension, there has been a rise in awareness regarding one?s health. Also, in recent days, there has been a significant rise in the number of individuals suffering from heart-related disorders. These factors have led to an increase in the importance of maintaining health among the population in the developed as well as the developing nations. The demand for various pre-filled saline syringes for taking care of patients suffering from chronic illness has increased significantly in recent years. Also, there has been rising medical tourism and the rise in the number of specialty clinics and multi-specialty hospitals in countries such as the US, India, Canada, South Korea, etc. The Asia Pacific is anticipated to offer significant growth opportunity during the forecast period, due to an increase in the disposable income, increasing medication errors, risk of cross-contamination in multi-dose vials and the growing medical tourism in the leading economies such as Japan, China, and India.
Chronic diseases, including cancer, heart disease, and obesity, are the leading causes of death in the world and account for most of the nation?s health care costs. According to the International Agency for Research on Cancer (IARC), there were 43.8 million cases of cancer in the world, and around 18.1 million new cases are recorded.
In 2018, the pre-filled saline syringes with 3 ml syringes segment held the largest market share of 46% of the pre-filled saline syringes market, by type. This segment is also expected to grow during the forecast period owing to the high demand for 3 ml pre-filled saline syringes, easy availability and the growing number of multispecialty hospitals, the market for the pre-filled saline syringes are likely to grow in the coming future.
Some of the major primary and secondary sources for market included in the report are Centers for Disease Control and Prevention (CDC), USFDA, International Hospital Equipment (IHE), The International Agency for Research on Cancer (IARC), Journal of Patient Care, China Food & Drug Administration, contract research organizations, and among others.