The Syringes and Injection Needle Manufacturing in the US Industry Market Research Report Now Available from IBISWorld

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The industry has experienced steady growth over the past five years; over the next five years, an aging and increasingly obese US population will continue to provide steady demand for industry products. For these reasons, industry research firm IBISWorld has added a report on the Syringes and Injection Needle Manufacturing industry to its growing industry report collection.

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Higher national health expenditure will boost industry revenue and profit margins

The Syringes and Injection Needle Manufacturing industry has experienced steady growth in the five years to 2014, mainly due to favorable demographic shifts, increased health insurance coverage and strong sales abroad. Furthermore, US national health expenditure has been on the rise, particularly government spending on healthcare. Increased public spending has recently bolstered demand for industry products but also served as a lifeline for the industry during the recession and early recovery. According to IBISWorld Industry Analyst Edward Rivera, “With national health expenditure expected to reach $3.2 trillion in 2014, IBISWorld estimates industry revenue will increase 2.0% over the year.” As a result, industry revenue is expected to rise at an annualized rate of 3.5% to $2.8 billion in the five years to 2014.

The industry is considered mature, and has exhibited moderate levels of consolidation and relatively high profit margins. The four largest companies in the industry account for 77.9% of revenue, an increase from 2009. This growth is partially the result of greater consolidation, which has expanded the pipeline of the larger companies while granting smaller companies the advantages of larger budgets and distribution networks. Over the five years to 2014, the number of enterprises in the industry has increased at an average annual rate of 1.2% to 456. Over the same five-year period, the number of industry employees is estimated to be growing at a slower average annual rate of 0.7% to 7,911. The disparity between the two growth rates is mainly attributable to layoffs incurred by increased consolidation. With rising revenue and decreasing wage costs as a percentage of total revenue, industry operators have enjoyed a healthy average profit margin of 10.7% in 2014, with some operators achieving profit margins closer to 20.0%.

Over the next five years, an aging and increasingly obese US population will continue to provide steady demand for industry products and new product lines. “In the five years to 2019, the number adults aged 65 and older is forecast to increase,” says Rivera. This bodes well for industry operators as this demographic group is considered the largest users of industry products. As a result, IBISWorld forecasts industry revenue will grow in the five years to 2019. In 2015, moderate increases in the number of physician visits and the amount of people with private healthcare are expected to result in a boost in revenue.

The Syringes and Injection Needle Manufacturing industry is categorized by a high level of market share concentration. There are several different types of companies that produce industry-related products. A large portion of multinational companies that maintain medical device manufacturing operations have small syringe and needle manufacturing operations. For example, Smiths Global Medical Device's business segment, while dominated by products that are not industry related, produces a variety of syringes and needles. Smaller companies, such as Retractable Technologies, have also operated profitably in this industry as the products they offer are unique and protected by patents. Otherwise, larger companies with greater financial resources at their disposal are able to beat out smaller companies due to their price competitiveness. A variety of very small medical device companies, such as Safety Syringes Inc. (prior to its acquisition by BD in 2013), have also been able to function in this industry as long as their products are innovative enough to receive sufficient funding. Such small industry operators are frequently acquired by larger companies once their products become widely accepted by the medical community.

For more information, visit IBISWorld’s Syringes and Injection Needle Manufacturing
in the US industry report page.

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IBISWorld industry Report Key Topics

Establishments in the Syringes and Injection Needle Manufacturing industry manufacture a variety of syringes and injection needles, including hypodermic syringes, medical bulb syringes, blood collection syringes and fountain syringes. Typically, industry products include a barrel, plunger, needle and cap. This industry excludes syringes used for nonmedical purposes.

Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
Globalization & Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Major Companies
Operating Conditions
Capital Intensity
Key Statistics
Industry Data
Annual Change
Key Ratios

About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit or call 1-800-330-3772.

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Gavin Smith
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