Singapore: Syringe Market 2024

Syringe Market Size in Singapore

The Singaporean syringe market soared to $X in 2022, picking up by 21% against the previous year. Overall, the total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +28.8% against 2019 indices. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Syringe Production in Singapore

In value terms, syringe production dropped to $X in 2022 estimated in export price. In general, the total production indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +6.6% against 2020 indices. The growth pace was the most rapid in 2016 with an increase of 47% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Syringe Exports

Exports from Singapore

In 2022, syringe exports from Singapore reduced modestly to X units, therefore, remained relatively stable against 2021 figures. Overall, exports showed a abrupt decrease. The pace of growth was the most pronounced in 2015 with an increase of 24% against the previous year. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, syringe exports skyrocketed to $X in 2022. In general, exports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2018 with an increase of 45%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.

Exports by Country

India (X units) was the main destination for syringe exports from Singapore, with a 34% share of total exports. Moreover, syringe exports to India exceeded the volume sent to the second major destination, Australia (X units), threefold. The third position in this ranking was taken by the United States (X units), with a 7.3% share.

From 2012 to 2022, the average annual growth rate of volume to India totaled +6.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (-0.5% per year) and the United States (-12.8% per year).

In value terms, India ($X) remains the key foreign market for syringes, with or without needles exports from Singapore, comprising 34% of total exports. The second position in the ranking was held by Australia ($X), with a 14% share of total exports. It was followed by the United States, with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to India amounted to +21.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+14.4% per year) and the United States (+0.2% per year).

Export Prices by Country

The average syringe export price stood at $X per unit in 2022, surging by 36% against the previous year. Over the period under review, the export price saw strong growth. The pace of growth appeared the most rapid in 2019 an increase of 53% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the Philippines ($X per unit) and Australia ($X per unit), while the average price for exports to Taiwan (Chinese) ($X per unit) and China ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+15.0%), while the prices for the other major destinations experienced more modest paces of growth.

Syringe Imports

Imports into Singapore

In 2022, imports of syringes, with or without needles into Singapore expanded slightly to X units, growing by 1.8% on 2021 figures. Over the period under review, imports, however, continue to indicate a noticeable descent. The pace of growth was the most pronounced in 2015 with an increase of 47%. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, syringe imports skyrocketed to $X in 2022. Overall, total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +96.4% against 2016 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the United States (X units) constituted the largest syringe supplier to Singapore, accounting for a 40% share of total imports. Moreover, syringe imports from the United States exceeded the figures recorded by the second-largest supplier, Mexico (X units), threefold. The third position in this ranking was taken by the UK (X units), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from the United States totaled -5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+2.8% per year) and the UK (+32.4% per year).

In value terms, the United States ($X) constituted the largest supplier of syringes, with or without needles to Singapore, comprising 40% of total imports. The second position in the ranking was taken by Mexico ($X), with a 15% share of total imports. It was followed by the UK, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from the United States amounted to +4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+13.9% per year) and the UK (+46.8% per year).

Import Prices by Country

In 2022, the average syringe import price amounted to $X per unit, surging by 38% against the previous year. Overall, the import price posted a remarkable increase. The pace of growth was the most pronounced in 2014 an increase of 127%. The import price peaked in 2022 and is likely to see steady growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Mexico ($X per unit) and Germany ($X per unit), while the price for France ($X per unit) and China ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+10.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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