Europe Syringes & Needles Market - Focused Insights 2023-2028

The Europe Syringes and Needles market is experiencing robust growth, with a valuation of $7.97 billion in 2022 and a projection to reach $11.76 billion by 2028, marking a CAGR of 6.70%. This expansion is driven by multiple factors, including an aging population, increased consumer awareness, a high prevalence of chronic diseases, and a surge in the adoption of syringes and needles for diabetes treatment.

The presence of major vendors such as Braun, BD, HMD, Terumo, and Nipro, coupled with technological advancements, new product introductions, and well-developed healthcare infrastructure, are significantly contributing to this market growth. The demand for disposable syringes is notably rising, particularly in developing economies, due to the high cost of sterilizing reusable syringes and the growing preference for safety and prefilled syringes.

The Europe region is emerging as a major market for syringes and needles, following the US. By product type, syringes hold the majority share, driven by the increasing use of disposable syringes. The adult segment dominates the patient type category, attributed to the rising chronic diseases among this population.

Hospitals form the largest end-user segment, owing to the high number of surgeries performed. The diabetic population in Europe is increasing rapidly, thereby elevating the demand for insulin syringes. Diabetic patients predominantly use these syringes due to their affordability and accessibility.

The market is also influenced by the growing demand for self-administering medical devices, such as auto-injectors and pen injectors. With about 60 million people aged 25 and over suffering from diabetes in Europe, the need for insulin syringes and smart pens is escalating.

The European Syringes and Needles market is highly competitive, with a mix of small and mid-sized companies entering the fray alongside established players. The competition revolves around innovation, product offerings, and strategic partnerships. Major players focus on strategic acquisitions and collaborations to expand their market presence and access new products.

Overall, the European syringes and Needles market is set for considerable growth, driven by technological innovations, increasing product launches, and a high demand for disposable syringes and devices for chronic disease management.

Syringes and needles are sterile medical devices that inject fluids/solutions or withdraw secretions from the body. Needles are among the most commonly used medical devices in the healthcare system.

KEY HIGHLIGHTS:

• In 2022, Europe Syringes and Needles market was valued at $7.97 billion and is expected to grow at a CAGR of 6.70% during the forecast period considering the facts that Europe is the growing market for Syringes and Needles products after the US on a global scale.
• The demand for Syringes and Needles market is rising due to multiple factors, including an increasing geriatric population, growing consumer awareness regarding usage, high prevalence of chronic cases, and increasing adoption of Syringes and Needles in treating diabetes.
• Other factors such as technological & material advancements, introduction of new products, well-developed healthcare infrastructure, extensive research & development activities, presence of leading key vendors, and government support also contribute to the growth of the overall Syringes and Needles market.
• By Product Type, Syringes accounted for the highest share. This is mainly due to the increase in the recommendation and use of syringes by physicians/clinicians and people across Europe.
• By Patient Type, the adults segment accounted for the highest share. This increase is mainly attributed to the increasing number of chronic diseases among the adult population, such as diabetes.
• In the End-User type, the Hospitals segment accounted for the highest share. This is due to the increase in the number of surgeries performed in hospitals across Europe.
• BD, CardinalHealth, B Braun, Nipro, and Terumo Corp are some of the leading players currently dominating the Europe syringes & needles market. The major players focus on strategic acquisitions and collaborations with emerging players to enter the syringes & needles market and gain access to commercially launched products.