India: Syringe Market 2024

Syringe Market Size in India

In 2022, the Indian syringe market was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +2.0% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Syringe Production in India

In value terms, syringe production expanded modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2013 with an increase of 12% against the previous year. Syringe production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Syringe Exports

Exports from India

After two years of growth, overseas shipments of syringes, with or without needles decreased by -3.7% to X units in 2022. Over the period under review, exports, however, enjoyed a strong increase. The pace of growth appeared the most rapid in 2016 when exports increased by 52% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2021, and then reduced slightly in the following year.

In value terms, syringe exports expanded rapidly to $X in 2022. In general, exports, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 45%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Brazil (X units) was the main destination for syringe exports from India, accounting for a 23% share of total exports. Moreover, syringe exports to Brazil exceeded the volume sent to the second major destination, Nigeria (X units), threefold. The third position in this ranking was taken by Bangladesh (X units), with a 5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Brazil totaled +10.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (+35.6% per year) and Bangladesh (+22.3% per year).

In value terms, Brazil ($X) remains the key foreign market for syringes, with or without needles exports from India, comprising 23% of total exports. The second position in the ranking was held by Nigeria ($X), with an 8.1% share of total exports. It was followed by Bangladesh, with a 5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Brazil totaled +9.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (+34.2% per year) and Bangladesh (+21.0% per year).

Export Prices by Country

The average syringe export price stood at $X per thousand units in 2022, with an increase of 16% against the previous year. Over the period under review, the export price, however, continues to indicate a slight contraction. Over the period under review, the average export prices reached the peak figure at $X per thousand units in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Argentina ($X per thousand units) and Poland ($X per thousand units), while the average price for exports to France ($X per thousand units) and Mozambique ($X per thousand units) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Poland (-1.1%), while the prices for the other major destinations experienced a decline.

Syringe Imports

Imports into India

In 2022, approx. X units of syringes, with or without needles were imported into India; rising by 122% against 2021. In general, imports showed a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, syringe imports rose slightly to $X in 2022. Overall, imports showed a prominent increase. The most prominent rate of growth was recorded in 2021 when imports increased by 64% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Singapore (X units) constituted the largest syringe supplier to India, with a 38% share of total imports. Moreover, syringe imports from Singapore exceeded the figures recorded by the second-largest supplier, China (X units), threefold. The United States (X units) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Singapore totaled +15.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+2.1% per year) and the United States (+2.7% per year).

In value terms, Singapore ($X) constituted the largest supplier of syringes, with or without needles to India, comprising 38% of total imports. The second position in the ranking was held by China ($X), with a 13% share of total imports. It was followed by the United States, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Singapore totaled +20.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+6.2% per year) and the United States (+6.8% per year).

Import Prices by Country

In 2022, the average syringe import price amounted to $X per unit, dropping by -52.7% against the previous year. In general, the import price, however, enjoyed a perceptible increase. The most prominent rate of growth was recorded in 2021 an increase of 54%. As a result, import price reached the peak level of $X per unit, and then reduced sharply in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Mexico ($X per unit) and Germany ($X per unit), while the price for Singapore ($X per unit) and the UK ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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