Syringe Market

The global syringe market is projected to experience growth in both consumption and value over the next eight years. From 2022 to 2030, the market is expected to expand with a CAGR of +1.9% in volume and +4.4% in value, reaching 104B units and $12.7B respectively. In 2022, consumption decreased slightly, but overall remains relatively stable. Production and imports also saw decreases, while exports increased. China is the largest producer and exporter of syringes, with the United States leading in market value.

Market Forecast

Driven by increasing demand for syringes, with or without needles worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +1.9% for the period from 2022 to 2030, which is projected to bring the market volume to 104B units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.4% for the period from 2022 to 2030, which is projected to bring the market value to $12.7B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Syringes, With Or Without Needles

In 2022, consumption of syringes, with or without needles decreased by -2.5% to 90B units, falling for the second year in a row after three years of growth. Overall, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak volume of 96B units. From 2021 to 2022, the growth of the global consumption remained at a lower figure.

The global syringe market size contracted modestly to $9B in 2022, which is down by -3.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. Global consumption peaked at $9.3B in 2021, and then reduced modestly in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (16B units), the United States (8B units) and India (7.6B units), together comprising 35% of global consumption. Japan, the UK, France, Indonesia, Russia, Germany, Brazil, Mexico, Spain and South Korea lagged somewhat behind, together comprising a further 33%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Brazil (with a CAGR of +15.2%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($1.9B) led the market, alone. The second position in the ranking was taken by Japan ($829M). It was followed by China.

In the United States, the syringe market expanded at an average annual rate of +4.5% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of market growth: Japan (+3.1% per year) and China (-4.2% per year).

The countries with the highest levels of syringe per capita consumption in 2022 were the UK (64 units per person), France (49 units per person) and Spain (40 units per person).

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of +14.4%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Syringes, With Or Without Needles

In 2022, production of syringes, with or without needles decreased by -2.7% to 89B units, falling for the second consecutive year after three years of growth. Over the period under review, production, however, recorded modest growth. The most prominent rate of growth was recorded in 2020 when the production volume increased by 11%. As a result, production attained the peak volume of 96B units. From 2021 to 2022, global production growth remained at a lower figure.

In value terms, syringe production amounted to $9B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2014 when the production volume increased by 16% against the previous year. Global production peaked at $9.1B in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Production By Country

The country with the largest volume of syringe production was China (34B units), accounting for 38% of total volume. Moreover, syringe production in China exceeded the figures recorded by the second-largest producer, the United States (9.5B units), fourfold. The third position in this ranking was taken by India (7.9B units), with an 8.9% share.

From 2012 to 2022, the average annual growth rate of volume in China amounted to +2.6%. In the other countries, the average annual rates were as follows: the United States (-0.2% per year) and India (+4.4% per year).

Imports

World Imports of Syringes, With Or Without Needles

After six years of growth, overseas purchases of syringes, with or without needles decreased by -4.4% to 55B units in 2022. The total import volume increased at an average annual rate of +3.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 9.8% against the previous year. Global imports peaked at 57B units in 2021, and then fell slightly in the following year.

In value terms, syringe imports shrank slightly to $7.4B in 2022. Overall, total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +59.5% against 2015 indices. The pace of growth was the most pronounced in 2021 with an increase of 22% against the previous year. As a result, imports attained the peak of $7.4B, leveling off in the following year.

Imports By Country

The countries with the highest levels of syringe imports in 2022 were France (5.8B units), Germany (4.3B units), the United States (3.8B units), Brazil (2.7B units), the UK (2.6B units), Switzerland (2.4B units), Belgium (2.2B units), Italy (2.1B units), Spain (2.1B units), Russia (2.1B units), China (1.8B units) and the Netherlands (1.5B units), together reaching 61% of total import. India (1.3B units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Brazil (with a CAGR of +13.0%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest syringe importing markets worldwide were the United States ($1.1B), France ($855M) and Germany ($805M), together comprising 37% of global imports. The Netherlands, Italy, China, Switzerland, Belgium, the UK, Spain, Russia, India and Brazil lagged somewhat behind, together accounting for a further 32%.

India, with a CAGR of +11.2%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average syringe import price amounted to $0.1 per unit, rising by 4.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.2%. The pace of growth appeared the most rapid in 2021 when the average import price increased by 12%. Over the period under review, average import prices reached the maximum in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($0.3 per unit), while Brazil (less than $0.1 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+10.0%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Syringes, With Or Without Needles

In 2022, overseas shipments of syringes, with or without needles decreased by -4.7% to 54B units for the first time since 2016, thus ending a five-year rising trend. The total export volume increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 12%. Over the period under review, the global exports hit record highs at 57B units in 2021, and then contracted modestly in the following year.

In value terms, syringe exports reached $6.7B in 2022. Over the period under review, total exports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +63.9% against 2012 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 19%. The global exports peaked in 2022 and are likely to see steady growth in the immediate term.

Exports By Country

In 2022, China (20B units) represented the largest exporter of syringes, with or without needles, committing 37% of total exports. The United States (5.3B units) took a 9.7% share (based on physical terms) of total exports, which put it in second place, followed by France (6.8%), Germany (6.6%) and Spain (5.2%). Belgium (2.2B units), Switzerland (1.8B units), India (1.6B units), Mexico (1.6B units), Ireland (1.1B units) and Italy (1B units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to syringe exports from China stood at +10.7%. At the same time, India (+11.2%), France (+9.5%), Switzerland (+5.5%), Italy (+5.2%), the United States (+4.4%) and Belgium (+2.5%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in the world, with a CAGR of +11.2% from 2012-2022. By contrast, Spain (-1.5%), Ireland (-3.9%), Mexico (-4.3%) and Germany (-6.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, France and India increased by +18, +3 and +1.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($1.1B), China ($908M) and France ($851M) constituted the countries with the highest levels of exports in 2022, with a combined 42% share of global exports. Germany, Switzerland, Italy, Belgium, Mexico, Spain, Ireland and India lagged somewhat behind, together accounting for a further 35%.

Among the main exporting countries, Italy, with a CAGR of +14.0%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average syringe export price amounted to $0.1 per unit, surging by 6.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The pace of growth was the most pronounced in 2021 an increase of 8.6%. The global export price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Italy ($0.3 per unit), while India (less than $0.1 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+13.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform