U.S. Syringes & Needle Market - Focused Insights 2023-2028

The U.S. syringes and needles market is experiencing robust growth, with its valuation rising from $7.82 billion in 2022 to an anticipated $10.87 billion by 2028, reflecting a steady CAGR of 5.63%. This growth trajectory is underpinned by the escalating prevalence of chronic diseases, an aging population, and comprehensive vaccination and immunization programs across the nation, fostering increased syringe usage. The syringes segment, in particular, dominates the market with a substantial 66.43% share in 2022, projected to ascend at a CAGR of 5.98% due to the surging demand for disposable syringes and the expansion of immunization initiatives.

Adults constitute the primary patient group, holding a 68.75% market share in 2022, driven by the growing incidence of chronic conditions and diabetes among this demographic. Hospitals, as the leading end-users, represent 56.95% of the market share in 2022, with projections to reach 59.20% by 2028, underscoring hospitals' critical role in illness and injury care.

The evolving landscape also highlights a burgeoning demand for specialty syringes, underscoring a market ripe for expansion if manufacturers can align production with demand. This sector's growth is pivotal, especially as disposable syringes remain prevalent among the diabetic population despite the rising popularity of insulin pens, indicating a substantial opportunity for market players.

The U.S. market is also navigating through state laws facilitating needle and syringe access without prescriptions, further amplifying demand, particularly among the adult population. This dynamic market landscape is supported by hospitals and medical facilities' bulk purchasing practices, facilitating product accessibility at reduced rates. Moreover, the increasing geriatric population's inclination towards home healthcare settings is propelling the demand for self-administered injectable devices, highlighting a shift towards patient-centric care models.

The market's competitive sphere is marked by technological innovations and an influx of small to mid-sized companies striving to carve a niche. Key players, such as Cardinal Health and ICU Medical, are intensifying their market presence through strategic acquisitions and an unwavering focus on IV therapy solutions. This competitive environment, coupled with a keen emphasis on product development and technological advancements, is poised to catalyze market growth, setting the stage for a transformative period in the U.S. syringes and needles market.

KEY HIGHLIGHTS:

• In the US, the syringe and needles market was valued at $7.82 billion in 2022 and is expected to reach $10.87 billion by 2028, growing at a CAGR of 5.63%. The demand for syringes and needles market is on the rise due to multiple factors, including an increasing geriatric population, high prevalence of chronic cases, increasing incidence of hospital-acquired infections, increase in vaccination & immunization programs, and increasing adoption of syringes & needles in treating diabetes.
• By Product type, the syringes segment occupied a market share of 66.43% in 2022 and is expected to grow at a CAGR of 5.98% with an absolute growth rate of 41.67% during the forecast period. Factors such as increasing the demand for disposable syringes and a rapid increase in immunization and vaccination programs are expected to drive the segment growth during the forecast period.
• By Patient Type, the adult segment occupied 68.75% of the market share as of 2022 and is expected to reach 70.22% by 2028 with a CAGR of 6.01% and an absolute growth rate of 41.90%. This is due to the rise in the number of chronic diseases in adults and the increasing diabetic population.
• By End-User type, the hospitals segment accounted for 56.95% of the market share in 2022 and is expected to reach 59.20% with an absolute growth rate of 44.42% by 2028. Hospitals are the primary point of contact for any illness & injuries. Hospitals are the major revenue contributors. All hospitals use needles and syringes to withdraw blood or fluid samples and administer drugs or vaccinations.
• BD, ICU Medical, Nipro Corporation, Terumo, and Cardinal Health are the key players in the US syringes and needles market. Major players focus on strategic acquisitions, licensing, and collaboration agreements with emerging players to enter the US syringes & needles market and access commercially launched products.