The Slip Tip Syringe market saw soaring growth in 2021 with worldwide revenues showcasing steep growth year over year. A new forecast by FMI estimates that revenues will nearly double between 2020 and 2030 with five-year compound annual growth rate (CAGR) of 8%
Slip Tip Syringe Market: An Overview
Syringe bodies featuring a plain, small connection is known as slip tip and are useful for when the syringe is being connected to something. These syringe barrels allow the needle to slip over the tip and compress for easy installation/removal.
These can also be referred to as luer slip syringes. Slip tip syringe are used for a single patient only as it cannot be reused. Slip tip syringe offers bold scale printing for accurate dosage of medication and individually packaged in sterile packs. This slip tip syringe allows for a needle to be pushed on to the tip when required, they can be used for administration of medication and subcutaneous injections.
Its eccentric tip allows an attached needle to be in line with the syringe walls for accurate injection. A slip tip syringe is a medical device that is used to administer medicines through parenteral routes. Therefore, due to the safe connection of syringe and needle the specific demand for slip tip syringe is increasing and estimated to supplement the sales of slip tip syringe during the forecasted period.
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What Fuels the Growth of the Slip Tip Market?
In healthcare sector, the foremost thing is the treatment of patients which is done by using medical devices and medicines. For any kind of treatment for a patients the syringes needed which has increased the consumption of slip tip syringe.
These syringe offers features such as reinforced tip, easy-to-read calibration, autoclavable, and double-sealed rubber plunger due to which they are commonly utilize in healthcare sector. On the back of its several features, these syringes are predominantly used in hospitals, clinical labs and medical institutes which raise its sales substantially.
How COVID-19 Pandemic will Create the Opportunity for Manufacturers to Raise their Sales?
During COVID-19 pandemic the diseases that occurred by the virus has tremendously increased and the number of patients suffering with virus are increased. Across the globe, the pandemic has hit almost every person in every country which has uplifts the usage of medical equipment and mostly syringes for giving vaccines dose. The increased usage of medical devices in the healthcare sector is creating an opportunity for slip tip syringe manufacturers to maximize their sales to a significant extent.
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What are the Key Trends Impacting Growth of the Slip Tip Syringe Market?
Nowadays, the healthcare sector has seen a tremendous rise as well as change in the consumption of medical equipment such as syringe, catheter and others. Also, the demand for point-of-care administration has increased in the healthcare industry.
The trend that are recently observed that the slip tip syringe provides clear barrel with bold scale markings, a tapered plunger rod for ease of aspiration and a siliconized barrel for easy operation which has increased the utilization of these syringe and is expected to boost the demand for slip tip syringe.
What are the Key Challenges that Might Restrain Growth of the Slip Tip Syringe Market?
A high cost associated with safety syringe, the rise in the incidence of needle-stick injuries is restricting the market growth of slip tip syringe market. Another factor that is hindering the market growth is the usage of different route of drug administration to the patients is likely to hamper the growth of the slip tip syringe market.
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Competitive Landscape
Global Players:
Merck KGaA
Nipro Corporation
Air-Tite Products Co., Inc.
Sino Mould
Famacy Group
Cardinal Health
Grovet B.V.
Goldenwellgroup
Becton
Dickinson and Company
Others
Asian Players:
Hindustan Syringes & Medical Devices Ltd
Anhui Kangda Medical Products Co., Ltd.
Kangmian Technology (hangzhou) Co., Ltd
Changzhou Standard Medical Devices Co., Ltd.
Zhejiang Huafu Medical Equipment Co., Ltd.
Others
What Strategies are the Key Players Adopting for Increasing their Market Share in the Slip Tip Syringe Market?
The key players adopt various strategies such as product launch, merger & acquisition, innovation and others to survive the competition in the market.
Recently, the company named Becton, Dickinson and Company has introduced disposable slip tip syringe and are designed to minimize touch-contamination risk for the patients.
How will the Slip Tip Syringe Market Generate Significant Demand in Germany?
Germany is one of the largest exporters of healthcare products as it benefits from excellent infrastructure and a highly-skilled workforce coupled with it has the most consumer oriented and restriction-free healthcare system. In Germany, the country offers attractive opportunities and a favourable investment climate for healthcare industry which is driving the growth of the slip tip syringe market.
What is the Repercussion of the Pandemic on the Growth of the Slip Tip Syringe Market?
The healthcare industry has observed a significant demand for syringes and other medical equipment due to the COVID-19 outbreak. The usage of slip tip syringe has tremendously increased as they are used to conveyance the vaccines where the precise dose is needed and they are safe as well as it helps in avoiding the risks of overdosing. The use of the syringe in the healthcare sector is likely to boost the sales and demand for the slip tip syringe.
Market Segmentation of the Slip Tip Syringe Market
