Syringes & Accessories Procurement Category Market Research Report from IBISWorld has Been Updated
Los Angeles, CA (PRWEB) December 20, 2014 -- Syringes have a buyer power score of 3.9 out of 5. This score reflects a market with a mix of favorable and hindering conditions for buyers, with buyers having the advantage over suppliers in negotiations. Over the three years to 2014, the price of syringes has risen on the back of escalating demand for healthcare services and medical supplies. In addition, buyers' efforts in investing in high-quality syringes has kept demand intact, given that any compromised quality in medical products may have detrimental effects on a patient's health. “Buyers also have some flexibility when entering the purchasing process, given the low level of price volatility,” says IBISWorld procurement analyst Anna Son. “In anticipation of steady demand and prices, buyers have time to evaluate their purchasing needs, as well as alternatives, without prospects of major price swings.”
In addition, low product specialization, a plethora of suppliers and minimal switching costs further buoy buyer power. The syringes market exhibits a medium level of market share concentration, with a few notable players like Becton, Dickinson and Company (BD) and Covidien. “Although there are many syringe designs available, most of them have the same basic features, thus making it easier for buyers to compare products across different suppliers,” adds Son. To further increase their negotiation leverage, many buyers have joined group purchasing organizations (GPOs) that can receive favorable pricing for their members with their significant negotiating clout with medical instrument suppliers. As hospitals and healthcare providers continue to consolidate, buyer power is expected to strengthen in the coming years.
During the three years to 2017, the average price of syringes is forecast to continue rising, albeit at a slow rate, as a result of swelling demand for healthcare services. Demand will stem from growth in the aging population and the number of individuals with health insurance coverage that will require more medical procedures and supplies. The rising prices of plastics, glass and steel, which are major inputs into the production of syringes, will also underpin price growth as manufacturers will have to recoup their production expenses. However, the competitive nature of the market and the increasing power of GPOs will help prevent prices from spiking and provide buyers with more leverage in price negotiation. For more information, visit IBISWorld’s Syringes & Accessories procurement category market research report page.
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IBISWorld Procurement Report Key Topics
This report is intended to assist buyers of medical syringes and accessories. There are different types of syringes available, including hypodermic syringes, medical bulb syringes, blood collection syringes and fountain syringes. Although there are many syringe designs available, virtually all of them have the same features, including a barrel, plunger, needle and cap. Since syringes come in direct contact with a patient’s body, they are required to be made from biocompatible materials. This report does not include syringes used for nonmedical purposes.
- Executive Summary
- Pricing Environment
-- Price Fundamentals
-- Benchmark Price
-- Pricing Model
-- Price Drivers
-- Recent Price Trend
-- Price Forecast
- Product Characteristics
-- Product Life Cycle
-- Total Cost of Ownership
-- Product Specialization
-- Substitute Goods
-- Regulation
-- Quality Control
- Supply Chain & Vendors
-- Supply Chain Dynamics
-- Supply Chain Risk
-- Imports
-- Competitive Environment
-- Market Share Concentration
-- Market Profitability
-- Switching Costs
- Purchasing Process
-- Buying Basics
-- Buying Lead Time
-- Selection Process
-- Key RFP Elements
- Negotiation Questions
- Buyer Power Factors
- Key Statistics
About IBISWorld Inc.
IBISWorld is one of the world's leading publishers of business intelligence, specializing in Industry research and Procurement research. Since 1971, IBISWorld has provided thoroughly researched, accurate and current business information. With an extensive online portfolio, valued for its depth and scope, IBISWorld’s procurement research reports equip clients with the insight necessary to make better purchasing decisions, faster. Headquartered in Los Angeles, IBISWorld Procurement serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.
Gavin Smith, IBISWorld Inc., +1 (310) 866-5042, [email protected]
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