The Insight Partners says the market for pre-filled saline syringes will reach $744.4 million by 2027-Digital Journal

2021-12-14 11:05:34 By : Mr. Johnny Sun

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The pre-filled saline syringe market was valued at US$402.5 million in 2018 and is expected to reach US$744.4 million by 2027; it is expected to grow at a compound annual growth rate of 7.2% from 2019 to 2027.

The pre-filled saline syringe is a single-dose saline packet to which the manufacturer has secured the needle. These are medical consumables used in hospitals and clinics to clean intravenous lines (IV), and to keep arterial lines and entry points clean and sterile for any medication or perishable liquids. The growth of pre-filled saline syringes in the healthcare market is attributed to the increase in medication errors, the risk of cross-contamination in multi-dose vials, the increase in home care and self-injection medications to avoid going to the hospital, and the increased incidence of hospital-acquired infections It is a key driver of market growth. However, factors such as strict regulatory standards for the approval of pre-filled saline syringes may inhibit market growth to a certain extent.

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Some well-known players operating in the market are BD, Cardinal Health, MedXL Inc., Guerbet Group, Sterisets Medical Products, DBM, B. Braun Medical Inc., Wolf Medical Inc., Aquabiliti and Baxter Healthcare Corporation. Market participants focus on bringing new and innovative products to maintain their position in the market. For example, in September 2018, MedXL expanded its business by registering its pre-filled saline syringe product in Singapore.

The global pre-filled saline syringe market is divided into 3 ml syringes, 5 ml syringes, 10 ml syringes and others according to their types. In 2018, by type, 3ml syringes accounted for the largest market share. Due to the high demand for hospital disposable products, ease of use and availability, and the increasing number of multi-specialty hospitals, it is expected that this market segment will also dominate the market in 2027. In addition, due to factors such as the increase in the prevalence of chronic diseases and hospital-acquired diseases, the utilization rate of pre-filled saline syringes has increased. Help avoid cross medication.

The key factors driving the development of the market are the increase in medication errors, the risk of cross-contamination of multi-dose vials, and the increase in self-injection drugs that avoid going to the hospital. However, factors such as frequent product recalls and strict regulatory requirements may limit market growth.

Due to lockdowns, travel bans, and business closures, COVID-19 has affected the economies and industries of various countries. The COVID-19 crisis has overburdened public health systems in many countries, highlighting the strong need for sustainable investment in health systems. As the COVID-19 pandemic develops, the growth of the healthcare industry is expected to slow. Due to the increase in demand for in vitro diagnostic products and the increase in global R&D activities, the field of life sciences is booming. However, due to the small number of operations performed and delayed or extended equipment purchases, sales in the medical technology and imaging divisions are declining. In addition, virtual consultation by healthcare professionals is expected to become the mainstream medical service model after the pandemic.

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Pre-filled saline syringes are widely used in hospitals and nursing homes, and some types of pre-filled saline syringes can also be used at home. The pre-filled saline syringe is used to clean intravenous (IV) catheters to prevent blockages and remove any medication left in the catheter area after intravenous infusion. As a result, the prevalence of chronic diseases such as cardiovascular disease, cancer, and diabetes has continued to increase, which has promoted the market growth of pre-filled saline syringes.

Diabetes is one of the most important global health emergencies in the 21st century. Every year, more and more people suffer from this disease, which can lead to life-changing complications. According to data from the International Diabetes Federation (IDF), the number of diabetic patients in North America in 2017 was approximately 46 million, and it is expected to increase by 62 million in 2045. During the forecast period, the prevalence of disease increased by about 35%.

Hospital-acquired infection not only affects patients during their hospitalization, but also affects patients after they are discharged from the hospital. The pre-filled saline syringe is designed to reduce hospital-acquired infections, reduce the risk of medication errors, and reduce the risk of catheter damage. In addition, it has been observed that these occupational infections are also common in hospitals and nursing staff. According to the World Health Organization (WHO), hundreds of millions of patients are affected by healthcare-related infections each year, leading to a significant increase in morbidity and mortality around the world. The 2016 WHO health care-related infection fact sheet shows that at a given time, for every 100 hospitalized patients, 7 patients in developed countries and 10 patients in developing countries will have hospital-acquired infections.

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Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients obtain solutions that meet their research needs through our joint and consulting research services. We focus on industries such as semiconductors and electronics, aerospace and defense, automotive and transportation, biotechnology, healthcare IT, manufacturing and construction, medical equipment, technology, media and telecommunications, chemicals and materials.

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