NEW YORK, United States, June 21, 2023 (GLOBE NEWSWIRE) — Zion Market Research has published a new research report titled “Syringe Trays Market By Application (Polyvinyl Chloride Syringe Trays, Polystyrene Syringe Trays, Polypropylene Syringe Trays, And Polyethylene Syringe Trays), By Type (Pharmaceuticals, Veterinary Laboratories, Hospitals, Food Laboratories, And Others), And By Region: – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts, 2023-2030” in its research database.
“According to the latest research study, the of global syringe trays market size was valued at USD 17.6 billion in 2022 and it is expected to surpass around USD 50.98 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 11.4% during the forecast period 2023 to 2030.”
What are Syringe Trays? How big is the Syringe Trays Industry?
The storage and organization of syringes is made easier with the help of syringe trays. It comprises of compartments that help store various kinds of syringes, which makes it easier for professionals to proceed with surgical and other treatments quickly. This makes it possible for professionals to save time. These trays are manufactured solely with the healthcare industry and the pharmaceutical industry in mind. The fact that these trays reduce the likelihood of medical supplies becoming contaminated with one another is the primary benefit of using them. In addition, these trays are constructed using high-impact polystyrene and premium raw materials that are anti-static, conductive, and can be sterilized. The syringe trays allow for the correct use of medical supplies, which saves time and provides increased stability for the items.
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Global Syringe Trays Market: Growth Factors
Rising levels of awareness regarding cleanliness and safety will drive the expansion of the global market
During the procedures, there is a major risk to the patients as well as the staff in terms of both their safety and their hygiene. Concerns have been raised as a result of an increase in the number of instances of infections acquired in hospitals around the world. As a result of this, it is anticipated that it will contribute significantly to the expansion of the syringe trays market worldwide. In addition, the expansion of hospitals, ambulatory surgery centres, clinics, and other primary healthcare facilities is anticipated to contribute to an increase in both sales and demand for syringe trays. Additionally, an expanding patient pool as well as an increase in the number of surgical procedures are anticipated to further contribute to the expansion of the global market. Patients receive the majority of their medications in today’s modern science and medicine by way of injections. The number of elderly people living in different parts of the world is consistently growing. In addition to this, it is projected that the enforcement of various infection prevention standards would further encourage growth opportunities in the market. Additionally, the increasing number of product approvals and product launches will assist the company’s growth trajectory. For example, sterile piston irrigation syringe trays are designed to prevent spilling of medical supplies and other types of contamination during use. A tube can be fed through its enlarged tip, which also features an extra-large aperture to prevent clogs and mucous shreds.
Increasing level of competition is likely going to stifle the expansion of the global market.
As a result of increased levels of competition, the global market for syringe trays is extremely fragmented. Because of the use of low-grade plastic and other manufacturing materials by some of the enterprises, the expansion of the market is being hampered. The expansion of the global market is also being hampered by the rising interest of consumers in one-time-use medical products, which is another factor that is having this effect.
There is a good chance that expanding numbers of chances will become available in global markets as a result of rising investments in healthcare infrastructure and rising rates of personalization.
The increasing investments made by both governments and major businesses are the primary factor driving growth in the global market for syringe trays. During the period that is being forecasted, the expenditures that are being made to improve research and development activities are expanding the scope of the global market. The progression of technology in the many markets throughout the world is giving rise to new chances in the years to come. For example, the incorporation of cutting-edge technology and innovations into high-quality materials is further encouraging professionals to utilize syringe trays in their practices. Also gaining appeal among end users is expanding the scope of customization, which will in turn nurture many attractive growth opportunities in markets all over the world. In the not-too-distant future, the global market for syringe trays will be driven, in part, by the growing need for medical disposables.
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|Market Size in 2022||USD 17.6 Billion|
|Projected Market Size in 2030||USD 50.98 Billion|
|CAGR Growth Rate||11.4% CAGR|
|Key Market Players||Addent Inc., Terumo Corporation, Becton, Dickinson and Company, Treiber Trays, East Coast Medical Supply, AdDent Inc, Medline Industries Inc., AVSR Group Of Companies, Tray International (Pty) Ltd., East Coast Medical Supply, and others.|
|Key Segment||By Application, By Type, and By Region|
|Major Regions Covered||North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa|
|Purchase Options||Request customized purchase options to meet your research needs. Explore purchase options|
Syringe Trays Market: Segmentation Analysis
The global syringe trays market can be segmented into application, type, and region.
On the basis of the application, the market can be segmented into polyvinyl chloride syringe trays, polystyrene syringe trays, polypropylene syringe trays, and polyethylene syringe trays. The polystyrene syringe trays segment accounts for the largest share of the global market owing to the fact that they are disposable and can be reused. Their smooth and plain surface is designed to insert needles and draw blood conveniently. Also, it offers a super easy way to clean. The Polyvinyl Chloride segment is likely to grow steadily in the forthcoming years as it holds mechanical and chemical properties. It is processed through blow, extrusion, and injection molding. PVC is resistant to acid and bases solvent, including ethylene and gamma radiation.
On the basis of type, the syringe tray industry can be segmented into pharmaceuticals, veterinary laboratories, hospitals, food laboratories, and others. The pharmaceuticals segment dominates the global market due to the wide applications of syringe trays in the sectors. Also, the tech developments are fostering a fast growth rate in the pharmaceuticals sector, which will also positively impact the growth of the segment during the forecast period. However, the hospital segment is also anticipated to grow steadily due to the fast-growing patient pool. The easy availability of all the services at hospital centers is making people attract more to the hospitals, which is also expected to support the growth of the segment.
The global Syringe Trays market is segmented as follows:
- Polypropylene Syringe Trays
- Polyvinyl Chloride Syringe Trays
- Polystyrene Syringe Trays
- Polyethylene Syringe Trays
- Veterinary Laboratories
- Food Laboratories
Browse the full “Syringe Trays Market By Application (Polyvinyl Chloride Syringe Trays, Polystyrene Syringe Trays, Polypropylene Syringe Trays, And Polyethylene Syringe Trays), By Type (Pharmaceuticals, Veterinary Laboratories, Hospitals, Food Laboratories, And Others), And By Region: – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts, 2023-2030″ Report at- https://www.zionmarketresearch.com/report/syringe-trays-market-size
Some of the main competitors dominating the global Syringe Trays market include –
- Addent Inc.
- Terumo Corporation
- Dickinson and Company
- Treiber Trays
- East Coast Medical Supply
- AdDent Inc
- Medline Industries Inc.
- AVSR Group Of Companies
- Tray International (Pty) Ltd.
- East Coast Medical Supply
Key Insights from Primary Research:
- According to the analysis shared by our research analyst, the Syringe Trays market is likely to expand at a CAGR of around 11.4% during the forecast period (2023-2030).
- In terms of revenue, the Syringe Trays market size was valued at around US$ 17.6 billion in 2022 and is projected to reach US$ 50.98 billion by 2030.
- The growing awareness regarding hygiene and safety is likely to boost the global syringe tray market size growth.
- Based on the application, the polystyrene syringe trays segment accounts for the largest share of the global market.
- Based on the type, the pharmaceuticals segment dominates the global market.
- Based on region, North America is expected to dominate the market during the forecast period.
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- What is the market size and growth rate forecast for Syringe Trays industry?
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- Market Size & Forecast by Revenue | 2023−2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Application, By Type, and By Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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North America holds the largest share of the global syringe trays market due to the growing investments in the healthcare and pharmaceuticals sector. Also, the growing geriatric population is another major reason for the steady growth of the regional market. The increasing incidences of cardiovascular disease, which is likely to propel the number of surgeries in the region, will also positively impact the growth of the market. Continuous innovations and tech developments, particularly in the medical sciences and healthcare sector, are further likely to foster growth prospects in the region.
Asia Pacific is also expected to witness growth in the forthcoming years due to the fast-growing economy of the countries. Also, the rising living standards and per capita income of the people are widening the scope of healthcare services in the region. Consequently, it is likely to help the regional market grow exponentially in the forthcoming years. The growing investment in the region due to the availability of an economical workforce and abundance of raw materials is further anticipated to foster growth prospects in the region.
Europe is also anticipated to witness significant growth in the global market owing to the presence of strong market players in the region. Also, the various organic and inorganic strategies adopted by syringe tray market leaders to expand their market worldwide will also help develop the regional market in the forthcoming years.
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
- Dickinson and Company, a leading company operating its business in the healthcare industry catering to all aspects of care delivery, including pharmaceuticals, clinical laboratories, hospital institutions, life science researchers, and other public use, got an average rating of “Moderate Buy” by twelve reputed brokerages. The Company invested in its BD Medical segment to come up with advanced solutions.
- Terumo Corporation revealed the launch of EXTEND, the Company’s global Post-Approval Study. The study is the single arm, non-randomized, multi-center, prospective study of Thoraflex Hybrid.
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