Syringe Trays Market Report 2024

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 observed in the historic period can be attributed to several factors, including increased vaccination programs, advancements in pharmaceutical packaging technology, rising prevalence of chronic diseases, expansion of healthcare infrastructure in emerging markets, stringent regulatory requirements for medical device packaging, heightened focus on infection control and sterile packaging, increased production capacity of syringe manufacturers, and growing 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%. In the forecast period, growth can be attributed to several key factors, including technological advancements in syringe tray manufacturing, increasing demand for home healthcare services, government initiatives promoting vaccination, a growing aging population requiring medical care, advancements in biodegradable and eco-friendly materials for syringe trays, expansion of the medical tourism industry, investments in healthcare infrastructure, and rising demand for prefilled and disposable syringes. Major trends anticipated in this period include a shift towards sustainable and eco-friendly materials for syringe trays, greater automation in syringe tray production, increasing demand for customized syringe tray solutions, adoption of smart packaging technologies, expansion of the global healthcare market, and integration of advanced tracking and monitoring systems in syringe trays.

The syringe trays market is expected to grow significantly due to the increasing number of surgical procedures. This growth is driven by advancements in medical technology and a rising aging population requiring more medical interventions. Improved access to healthcare and enhanced diagnostic capabilities also contribute to the surge in surgical procedures. Syringe trays play a crucial role in surgical settings by organizing and sterilizing syringes and related equipment, ensuring efficient and safe access for surgical teams. For example, in 2022, the British Association of Aesthetic Plastic Surgeons reported a 102% increase in cosmetic procedures compared to 2021, highlighting the growing demand for surgical interventions. Similarly, the American Academy of Facial Plastic and Reconstructive Surgery noted a 40% rise in surgical and non-surgical procedures in 2021 compared to 2020.

Leading companies in the syringe trays market are focusing on innovation to meet clinical needs and enhance patient safety, such as developing specialized products such as thoracostomy trays. These trays are essential for thoracostomy procedures, which involve inserting a chest tube into the pleural space to manage conditions such as pneumothorax and pleural effusion. For instance, Merit Medical Systems Inc. launched the ReSolve Thoracostomy Tray in 2022, specifically designed to facilitate safe air or fluid extraction from the chest cavity. This innovative tray includes various syringes, including luer lock and slip syringes of different capacities, catering to specific medical requirements.

In April 2023, Inverness Graham, an investment firm based in the US, acquired Innovia Medical to expand its healthcare portfolio and capitalize on market opportunities. This acquisition of Innovia Medical, known for its InstruSafe brand of surgical solutions including syringe trays, aims to leverage Innovia's expertise and enhance growth prospects in the evolving healthcare sector.

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.

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.

The countries covered in the syringe trays market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Syringe trays are sterile containers designed for the safe storage and transport of syringes, needles, and other medical instruments in healthcare settings. They ensure the prevention of contamination, maintenance of sterility, and efficient organization of these essential medical devices.

There are several types of syringe trays available, including polypropylene, polyvinyl chloride, polystyrene, polyethylene, and others. Polypropylene syringe trays, for instance, are lightweight and durable containers made specifically for organizing, protecting, and sterilizing syringes in medical environments. These trays are distributed through both offline and online channels, catering to diverse applications such as food laboratories, hospitals, veterinary practices, agriculture, diagnostics, pharmaceuticals, and research laboratories.

The syringe trays research report is one of a series of new reports that provides syringe trays market statistics, including the syringe trays industry's global market size, regional shares, competitors with a syringe trays market share, detailed syringe trays market segments, market trends and opportunities, and any further data you may need to thrive in the syringe trays industry. This syringe trays market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The syringe trays market consists of sales of glass syringe trays, compartmented syringe trays, and magnetic syringe trays. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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