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The global micro syringes market size was valued at USD 772 billion in 2022 and is expected to reach a value of USD 1493 billion in 2032 and with a CAGR of 8.6%

NEW YORK CITY, NY, UNITED STATES, July 10, 2023/EINPresswire.com/ -- The global Micro Syringes Market had a value of USD 772 billion in 2022 and is anticipated to reach USD 1493 billion by 2032, with a projected compound annual growth rate (CAGR) of 8.6% during the forecast period.

Various factors are expected to contribute to the growth of the market. These include the increasing demand for precision medicine, a rise in the prevalence of chronic diseases, and advancements in technology that promote the use of minimally invasive procedures. The advantages offered by micro syringes compared to conventional syringes, such as reduced dose errors, improved safety, and better patient outcomes, are also driving the demand for these devices.

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Key players in the Micro Syringes Market:

• Becton, Dickinson and Company
• Smiths Medical
• Gilson Inc.
• Socorex Isba SA
• Thermo Fisher Scientific
• Hamilton Company
• Agilent Technologies
• Eppendorf AG
• PerkinElmer Inc.
• Phenomenex Inc.

The demand for micro syringes is being boosted by the growing need for precision medicine. Precise dosing of medications is crucial for precision medicine, and as a result, micro syringes are being increasingly adopted in the healthcare sector. Additionally, the rising incidence of chronic diseases like Diabetes and cancer is contributing to the demand for micro syringes, as they enable accurate delivery of medications.

Segments Covered in the Report –

By Product Type Outlook -

• Fixed Needle Syringes
• Detachable Needle Syringes
• Others

By Application Outlook -

• Research Laboratories
• Diagnostic Centers
• Others

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Strategic development:

• Becton, Dickinson and Company made an announcement in 2021 regarding the acquisition of Velano Vascular, Inc., a medical device company focused on minimizing the pain and discomfort associated with blood draws. The purpose of this acquisition was to enhance BD's range of products in the blood collection market.

• Smiths Medical introduced the DeltaVen^® Closed System Catheter in 2020, a device specifically designed to reduce the chances of bloodstream infections and other complications related to peripheral intravenous (IV) catheterization.

• Hamilton Company disclosed the acquisition of Mawi DNA Technologies in 2020. Mawi DNA Technologies specializes in nucleic acid extraction and purification technologies. The aim of this acquisition was to expand Hamilton's product offerings in the genomics market.

• Gilson Inc. completed the acquisition of Armen Instrument SAS in 2020. Armen Instrument SAS specializes in automated liquid handling systems. This acquisition was carried out to broaden Gilson's product offerings in the automation market.

• In 2019, Eppendorf AG obtained a majority stake in Biological Industries, a company specializing in cell culture media and cell separation technologies. The objective behind this acquisition was to expand Eppendorf's product offerings in the cell culture market.

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