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India Emerges as Fastest-Growing Syringe Exporter Worldwide

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India Emerges as Fastest-Growing Syringe Exporter Worldwide

IndexBox has just published a new report: ‘World – Syringes, With Or Without Needles – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

The Covid-19 pandemic intensified the global trade in syringes and enabled India to become the fastest-growing exporter with the lowest syringe prices in 2020. Over the last year, Indian supplies abroad spiked from $32М to $40M. Global syringe exports also followed an upward trend, rising by +4.4% y-o-y to $5.7B. While India robustly ramps up supplies, the U.S. ($872M), China ($766M) and France ($693M) remain the world’s largest exporters, providing 41% of total exports. 

Syringe Exports by Country

In 2020, global exports of syringes amounted to 52B units, growing by 4.9% compared with 2019 figures. In value terms, exports expanded by +4.4% y-o-y to $5.7B (IndexBox estimates) in 2020.

Among the major exporting countries, India recorded the highest export growth rate over the last year. The number of supplied syringes rose from 986M to 1.3B units, increasing from $32М to $40M in monetary terms.

While India rapidly increases exports, China keeps holding the leading supplier position, with the volume of exports amounting to 18B units, which was near 36% of total exports in 2020. Germany (5.8B units) ranks second in terms of total exports with an 11% share, followed by the U.S. (7.9%), France (6.8%) and Spain (5.9%).

In value terms, the largest syringe supplying countries worldwide were the U.S. ($872M), China ($766M) and France ($693M), with a combined 41% share of global exports. These countries were followed by Germany, Switzerland, Belgium, the Netherlands, Italy, Mexico, the UK, Spain, Ireland and India, which accounted for a further 42%.

In 2020, the average syringe export price amounted to $109,7 per thousand units, remaining constant against the previous year. There were significant differences in the average prices amongst the major exporting countries. In 2020, the country with the highest price was the Netherlands ($328 per thousand units), while India ($32 per thousand units) was amongst the lowest. In 2020, the Netherlands attained the most notable rate of growth in terms of prices, while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform