Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Micro Syringes market.
Trusted Business Insights presents an updated and Latest Study on Micro Syringes Market 2020-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Micro Syringes market during the forecast period (2020-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Report Overview: Micro Syringes Market
The global micro syringes market size was valued at USD 184.2 million in 2020 and is expected to register a compound annual growth rate (CAGR) of 5.8% from 2021 to 2027. An increasing number of research studies and rising volume of life science research investigations are driving the market growth. Moreover, a growing number of drug discoveries, preclinical, and clinical trials due to the increasing efforts of pharmaceutical and biopharmaceutical companies to develop effective products are anticipated to drive the market. The intensive research being carried out in the pharmaceutical industry to develop new drugs is accelerating the demand for microsyringes. Also, government support in basic and early-stage research facilitates market growth.
Advancements in mass spectrometers, chromatographs, electrophoresis systems, and other tools & instruments have led to progress in the drug discovery technologies. Thus, an increasing number of drug discoveries, rising geriatric population, and healthcare restructuring are anticipated to propel the market growth.
In the pharmaceutical industry, increasing use of chromatography to separate chiral compounds and to purify materials and analyze chemical compounds for trace contaminants is driving the product demand. The U.S. pharmaceutical sector is characterized by a well-developed R&D infrastructure, a stringent scientific regulatory system, and an advanced environment encouraging investments in novel drug discovery & development. The U.S. is considered to be a pharmaceutical powerhouse; several research companies in the country invest nearly one-fifth of their revenues in R&D.
According to a report by the Council of Economic Advisers 2018, the U.S. market funds about half of the worlds medical R&D. Thus, rising investments in R&D and increasing activities related to R&D are expected to fuel market growth. Chromatography plays a significant role in pharmaceutical as well as chemical industries. The method is used in the pharmaceutical industry to prepare extremely pure materials in larger quantities and to examine the purified compounds for trace contaminants.
The other application of chromatography, particularly HPLC, is in protein separation, such as enzyme purification, plasma fractionation, and purification of insulin. Hence, it creates a significant demand for microsyringes. The method also has importance in different departments, such as forensic science, biochemical processes, and biotechnology industries, which further boosts the product demand.
Syringe Type Insights
The autosamplers segment lead the market in 2019 and accounted for more than 61% of the global share. It is also anticipated to register the highest CAGR over the forecast period 2021-2027. This is due to the advantages it offers over manual injection systems, as well as the growing importance of chromatography in drug approvals.
Increasing acceptance of autosamplers for accuracy is also fuelling the segment growth. Autosamplers save time and provide better reproducibility, improved speed, and higher accuracy. They are quite useful in handling the low volume of samples.
Needle Type Insights: Micro Syringes Market
Removable needle segment lead the market with a share of 65.7% in 2019. This is attributed to the reusable nature of these syringes. The removable needles allow using different sizes of needles on the same syringe barrel. Also, they are easy to replace in case of bending and are generally preferred by inexperienced users. They are also available with custom lengths and different point styles.
The fixed needles are easy to use, economical, and not autoclavable. They are low in price as compared to removable needles. However, they contain adhesives to attach the needle that may be damaged by solvents and the needles in case of damage cannot be repaired, which hampers their demand to some extent.
The plastic segment led the market in 2019 in terms of both market share (44.5) and revenue. It is anticipated to retain the dominant position during the forecast period on account of the increasing demand for plastics due to their low costs. On the other hand, the stainless steel segment is estimated to register the highest CAGR from 2020 to 2027.
The glass segment accounted for the second-largest market share of 32.0% in 2019 and will retain this position during the forecast years.Glass syringes are preferred in case where there is a need for high-level precision; for instance, in quantities chemical analysis. This is due to the fact that engineering tolerance of glass syringes are low and plungers move more smoothly.
End-use Insights: Micro Syringes Market
Laboratory was the leading segment in 2019 with a market of 46.2%. It is estimated to maintain its leading position over the forecast period owing to the increasing usage of microsyringes in laboratories for research purposes. Other end-use segments of the market include pharmaceutical & biotechnological companies, research institutes, and CROs.
Research institutes is the second-largest segment mainly due to the increasing collaboration activities between pharmaceutical and research institutes. For example, GlaxoSmithKline recently collaborated with the University of Leicester. The collaboration was intended for the development of novel drugs for the treatment of blood cancer.
Regional Insights: Micro Syringes Market
North America led the global market in 2019 and accounted for over 38% of the global share. It is anticipated to retain its dominant position throughout the forecast years owing to heavy investments in R&D and technological advancements in the analytical techniques leading to proper detection of proteins; metabolites; other complex molecules. The U.S. holds the maximum share in the North American regional market.
Europe is the second-largest regional market due to the increasing acceptance of the chromatography syringes. Asia Pacific is anticipated to register the highest CAGR 6.2% over the forecast period. This is attributed to the increasing base of the biotechnology and pharmaceutical industry in the region, which is likely to boost the adoption of autosamplers, thereby supporting the market growth.
Key Companies & Market Share Insights: Micro Syringes Market
A limited number of dominant manufacturers are present in the market. For instance, Hamilton Company, which is renowned for its precision microliter syringes. It manufactures microliter syringes for used with liquids only and gas-tight syringe for a heterogeneous solution. Some of the prominent players in the micro syringes market are:
Key companies Profiled: Micro Syringes Market Report
- Innovative Labor Systeme (ILS)
- GL Science, Inc.
- Hamilton Company
- PerkinElmer, Inc.
- Shimadzu Corporation
- Trajan Scientific and Medical
- ITO Corporation; Valco Instruments Company Inc.
- Agilent Technologies Inc.
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Trusted Business Insights has segmented the global micro syringes market report on the basis of syringe type, needle type, material, end-use, and region:
Syringe Type Outlook (Revenue, USD Million, 2016 – 2027)
Needle Type Outlook (Revenue, USD Million, 2016 – 2027)
Material Outlook (Revenue, USD Million, 2016 – 2027)
- Stainless steel
End-use Outlook (Revenue, USD Million, 2016 – 2027)
- Pharmaceutical & biotechnological companies
- Research institutes
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