Syringe Trays Market Size, Share Report, Analysis, Trends, Growth, 2030

Syringe Trays Industry Prospective:

The global syringe trays market size was valued at USD 17.6 billion in 2022 and is anticipated to reach USD 50.98 billion during the forecast period. The market is expected to grow with a CAGR of 11.4% between 2023 and 2030.

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The global syringe trays market report covers all aspects, including the potential growth drivers, restraints, and leading market players. Also, it offers detailed key insights into the opportunities and challenges in the market landscape. The report also explores market segmentation and regional developments in the syringe tray industry.

Syringe Trays Market: Overview

Syringe trays assist in storing and organizing syringes. It consists of compartments that help to store various kinds of syringes, making it convenient for professionals to proceed with surgical and other procedures easily. These trays are specifically made for medical and pharmaceutical purposes. The major advantage of these trays is that they help avoid the chances of cross-contamination between medical supplies. Also, these trays are made up of high-impact polystyrene and high-quality raw materials with conductive, anti-static, sterilizable properties. The syringe trays permit the proper usability of medical supplies, thereby saving time and offering more stability for the products.

Key Insights

• As per the analysis shared by our research analyst, the global syringe trays market size is estimated to grow annually at a CAGR of around 11.4% over the forecast period (2023-2030).
• In terms of revenue, the global syringe trays market size was valued at around USD  17.6 billion in 2022 and is projected to reach USD 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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Syringe Trays Market: Growth Drivers

Growing awareness regarding hygiene and safety is expected to propel the growth of the global market.

There is a significant concern regarding the safety and hygiene of patients and staff during the procedures. The concerns are due to the rising cases of hospital infections all across the globe. Therefore, it is expected to accentuate the growth of the global syringe trays market. Additionally, the growing number of hospitals, ambulatory surgical centers, clinics, and other primary healthcare centers is expected to boost the sales and demand for syringe trays. Also, the increasing number of patients pool and surgical procedures is further expected to complement the growth of the global market. Most of the drugs in modern science and medicines are given via injections to patients. The geriatric population is constantly increasing all across the world. Moreover, the enforcement of various infection prevention standards is further anticipated to foster growth prospects in the market. The growing product approvals and product launches will also support the growth trajectory. For instance, sterile piston irrigation syringe trays are made to offer spill-free usage and contamination of medical supplies. Its extended tip offers tube feeding and an extra-large orifice to avoid clots and mucous shreds.

Syringe Trays Market: Restraints

Rising competition is likely to hamper the growth of the global market.

The global syringe trays industry is highly fragmented due to rising competition. Some of the companies are using low-grade plastic and other manufacturing materials, which is causing obstruction in the growth of the market. Additionally, the growing interest of people in disposable medical supplies is also slowing down the growth of the global market.

Syringe Trays Market: Opportunities

Rising investments in healthcare infrastructure and increasing customizations will likely offer several opportunities in the global market.

The global syringe trays market is primarily driven by the increasing investments by the government and big companies. The investments to boost research and development activities are widening the scope of the global market during the forecast period. The tech developments in the global market are fostering new opportunities in the forthcoming years. For instance, the inclusion of the latest technologies and innovations in high-quality materials is further encouraging the adoption of syringe trays among professionals. Also, increasing the scope of customization is gaining traction among end users, which in turn will also foster many lucrative growth opportunities in the global market. The rise in demand for medical disposables is also driving the global syringe trays market in the near future.

Syringe Trays Market: Challenges

Rising concern over using plastics is a big challenge in the global market.

There is a significant concern over the side effects of plastics on living creatures and the environment. Government, NGOs, and other regulatory bodies are making efforts to come up with disposable medical supplies, including syringes. Therefore, there is a big challenge in using syringes and syringe trays which in turn is likely to negatively impact the growth trajectory of the global syringe trays industry.

Syringe Trays Market: Segmentation

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.

Recent Developments:

• 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.

Syringe Trays Market: Report Scope

Syringe Trays Market: Regional Analysis

North America to capture maximum market share during the forecast period

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.

Syringe Trays Market: Competitive Analysis

The key players in the global syringe trays market include:

• 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
• others.

The global syringe trays market is segmented as follows:

By Application

• Polypropylene Syringe Trays
• Polyvinyl Chloride Syringe Trays
• Polystyrene Syringe Trays
• Polyethylene Syringe Trays

By Type

• Pharmaceuticals
• Veterinary Laboratories
• Hospitals
• Food Laboratories
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa