Global Syringe Trays Market Analysis 2024: Size Forecast and Growth Prospects

The syringe trays market size has grown rapidly in recent years. It will grow from $16.38 billion in 2023 to $18.31 billion in 2024 at a compound annual growth rate (CAGR) of 11.8%.  The growth in the historic period can be attributed to increased vaccination programs, advancements in pharmaceutical packaging technology,  the rising prevalence of chronic diseases, growth in healthcare infrastructure in emerging markets, stringent regulatory requirements for medical device packaging, an increased focus on infection control and sterile packaging, the increased production capacity of syringe manufacturers, and rising awareness of safe injection practices.

The syringe trays market size is expected to see rapid growth in the next few years. It will grow to $28.78 billion in 2028 at a compound annual growth rate (CAGR) of 12.0%.  The growth in the forecast period can be attributed to technological advancements in syringe tray manufacturing, the rising demand for home healthcare services, increasing government initiatives for vaccination, the growing aging population requiring medical care, advancements in biodegradable and eco-friendly materials, expansion of the medical tourism industry, increasing investments in healthcare infrastructure, and rising demand for prefilled and disposable syringes. Major trends in the forecast period include a shift towards sustainable and eco-friendly syringe tray materials, increasing use of automation in syringe tray production, growing demand for customized syringe tray solutions, the rising adoption of smart packaging technologies, expansion of the global healthcare market, and the integration of advanced tracking and monitoring systems in syringe trays.

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Scope Of Syringe Trays Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Syringe Trays Market Overview

Market Drivers –
The increasing number of surgical procedures is expected to propel the growth of the syringe trays market going forward. The number of surgical procedures is growing due to advancements in medical technology and an aging population that requires more medical interventions. Additionally, increased access to healthcare and improved diagnostic capabilities contribute to the rise in surgeries. A syringe tray is used in surgical procedures to organize and sterilize syringes and related equipment, ensuring quick and safe access for the surgical team. For instance, in March 2023, according to the British Association of Aesthetic Plastic Surgeons, a UK-based organization, 31,057 cosmetic procedures took place in 2022, up 102% from 2021. Furthermore, in February 2022, according to the American Academy of Facial Plastic and Reconstructive Surgery, a US-based organization, an estimated 1.4 million surgical and non-surgical procedures were performed in 2021, with plastic surgeons completing an average of 600 more procedures compared to 2020, marking a 40% increase. Therefore, the increasing number of surgical procedures is driving growth in the syringe trays market.

Market Trends –
Major companies operating in the syringe trays market are focusing on developing innovative products such as the thoracostomy tray to enhance patient safety and address the clinical need for thoracostomy procedures. A thoracostomy tray is a specialized medical kit used by healthcare professionals for thoracostomy procedures, which involve the insertion of a chest tube into the pleural space of the chest cavity. For instance, in April 2022, Merit Medical Systems Inc., a US-based provider of innovative medical devices, launched ReSolve Thoracostomy Tray to improve patient care and meet the clinical demand for thoracostomy procedures. Specifically designed for such interventions, this innovative solution enables the safe extraction of air or fluid from the pleural space, treating conditions such as pneumothorax and pleural effusion. The tray includes a range of syringes, including luer lock syringes of 10 mL and 60 mL capacities, as well as slip syringes of 5 mL capacity.

The syringe trays market covered in this report is segmented –
1) By Type: Polypropylene Syringe Trays, Polyvinyl Chloride Syringe Trays, Polystyrene Syringe Trays, Polyethylene Syringe Trays, Other Types
2) By Distribution Channel: Offline, Online
3) By Application: Food Laboratories, Hospitals, Veterinary, Agriculture, Diagnostics, Pharmaceuticals, Research And Laboratories

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Regional Insights –
North America was the largest region in the syringe trays market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the syringe trays market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Key Companies –
Major companies operating in the syringe trays market are  Cardinal Health Inc., Becton Dickinson and Company, Baxter International Inc., Henry Schein Inc., Medline Industries Lp, ICU Medical Inc., Vygon Ltd, Terumo Medical Corporation, Retractable Technologies Inc., Sol-Millennium Medical Group Inc., B Braun Melsungen AG, ArcRoyal Ltd., MPS Medical Inc., Bausch+Stroebel Machine Company Inc, Addent Inc., Covidien Healthcare India Pvt, Hospital Equipment Manufacturing Company, Hurst Corporation, Jal Extrusion Private Limited, Desco Medical, Shakti Polyplast

Table of Contents
1. Executive Summary
2. Syringe Trays Market Report Structure
3. Syringe Trays Market Trends And Strategies
4. Syringe Trays Market – Macro Economic Scenario
5. Syringe Trays Market Size And Growth
…..
27. Syringe Trays Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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