Singapore Syringe Pump Market Report and Forecast 2024-2032

Singapore Syringe Pump Market Size

The Singapore syringe pump market was valued at USD 253.76 million in 2023, driven by rising advancements in syringe pump technology in the region. The market is expected to grow at a CAGR of 4.40% during the forecast period of 2024-2032, with the values likely to reach USD 373.88 million by 2032.

Singapore Syringe Pump Market Outlook

• The rise in the population of individuals in the 50+ age group and the rising hospital admission rate among individuals over the age of 65 in Singapore directly impact the market demand for syringe pumps.

• The market share is influenced by the growing demand for smart syringe pumps that offer enhanced infusion capabilities, secure drug management, and integration with hospital information systems.

• The growing focus on increasing safety features and miniaturization of syringe pumps are the major trends in the Singapore market.

Singapore Syringe Pump Market Overview

A syringe pump is a medical device that delivers controlled amounts of fluids including drugs, and nutrients, among other therapeutic agents, into a patient's body. Syringe pumps find their application in intravenous therapy, chemotherapy, delivery of anesthetic agents, administration of analgesics for pain control, etc.

The Singapore syringe pump market demand is driven by the growing healthcare needs and continuous healthcare improvements in the region. The increasing burden of chronic diseases such as cardiovascular conditions, cancer, and diabetes, further fuels the need for accurate and continuous medication delivery systems, which also impacts the market dynamics of the global syringe pump market. Moreover, the rising innovations in syringe pump technology supported by increased focus on advanced product development and strategic partnerships by the key market players further propel the market growth. Additionally, supportive government policies and healthcare initiatives to improve healthcare infrastructure and services are likely to shape the market landscape in the coming years.

Singapore Syringe Pump Market Growth Drivers

Growing Aging Population and Rising Hospital Admission Rate Affects the Market Landscape Significantly

According to the Department of Statistics, the total number of residents over the age of 50 was over 3.2 million in Singapore in 2023. The increasing geriatric population drives the need for precise and reliable medical devices like syringe pumps and thus augments market demand. Moreover, the rising hospital admissions which can be attributed to the growing prevalence of chronic diseases directly affects the market growth in Singapore.

For instance, the Department of Statistics reported that in 2023, acute hospital admissions were calculated to be 620,169. As of 2022, in Singapore, the hospital admission rate for males over age 65 was 366.6 per 1000 resident population. Hence, the syringe pump market in the country is likely to witness substantial growth due to a rise in the population of individuals in the 50+ age group and the rising hospital admission rate among individuals over the age of 65.

Innovations in Syringe Pump Technology to Fuel Singapore Syringe Pump Market Demand

The rising advancements in syringe pump technology which improve the precision, safety, and usability of syringe pumps are fuelling the demand for syringe pumps in healthcare facilities in the country. For instance, Terumu Corporation introduced the Terufusion™ Syringe Pump (Smart), which offers enhanced infusion capabilities, ensures simple and secure drug management, and allows integration with hospital information systems. It also offers connectivity through the communication rack system as well as stand-alone WIFI connectivity. Such smart syringe pumps facilitate real-time monitoring and data sharing and thus, enhance patient care and workflow efficiency. Consequently, the ongoing innovations in syringe pump technology are expected to bolster the market growth in the forecast period.

Singapore Syringe Pump Market Trends

The market is witnessing several trends and developments to improve the current scenario in Singapore. Some of the notable trends are as follows:

Singapore Syringe Pump Market Segmentation

Market Breakup by Product

• Infuse-Only Syringe Pump

• Infuse and Withdraw Syringe Pump

• Others

Market Breakup by Application

• ICU

• Cardiac Surgery Units

• Paediatric Units

• Operating Theatres

• Others

Market Breakup by End User

• Hospitals and Clinics

• Ambulatory Care Settings

• Others

Singapore Syringe Pump Market Share

Market Segmentation Based on End Users is Anticipated to Witness Substantial Growth

The market segmentation by end users includes hospitals and clinics, and ambulatory care settings, among others. In hospitals and clinics, syringe pumps are widely used for accurate drug administration. They are indispensable for intravenous (IV) medication administration, anesthesia, and pain management, among other uses. By ensuring precision in the amount of medicine given to a patient at any time, these devices guarantee safety. In addition, syringe pumps play a crucial role in ambulatory care settings since it supports continuous or intermittent administration of drugs/liquids with flexibility. Their use in ambulatory care improves patient satisfaction as well as making it easier for healthcare providers to deliver their services conveniently.

Singapore Syringe Pump Market Analysis by Region

Based on the region, the market share in Singapore is influenced by the distribution of healthcare facilities, population density, and regional development initiatives. The central region in Singapore holds a high market value due to the concentration of major hospitals, private clinics, and specialty medical centers. The regional market also benefits from the rising hospital admissions and the growing demand for advanced medical facilities. The other regions in Singapore, such as north northeastern region, are poised to witness substantial market growth, owing to the rising healthcare needs and increased initiatives aimed at improving healthcare infrastructure and services.

Leading Players in the Singapore Syringe Pump Market

The key features of the market report comprise strategic initiatives by the leading players including recent mergers, acquisitions and new product launches. The major companies in the market are as follows:

B. Braun SE

B. Braun SE, a leading medical technology company, is known for its advanced syringe pumps with features like enhanced safety mechanisms and smart connectivity. One of its key products is the Perfusor® PCA Syringe Pump which has a compact design and offers both weight-based and non-weight-based dosing.

Terumo Corporation

Terumo Corporation, the global provider of medical devices and supplies, has a prominent market presence in Singapore. The medical device company leverages strategic acquisitions to expand its market reach and product portfolio. It also collaborates with healthcare providers and research institutions to drive innovation and significantly contributes to the Singapore syringe pump market growth.

Fresenius SE & Co. KGaA

European multinational healthcare company Fresenius SE & Co. KGaA is one of the leading players in the market. This global healthcare group is focused on developing infusion systems that can be conveniently used in both inpatient and outpatient settings.

Becton Dickinson and Company

Becton Dickinson and Company, one of the largest medical technology companies, develops, manufactures, and markets medical devices, including syringe pumps. This global medical technology company is involved in the development of advanced syringe pumps with enhanced safety features, precision, and ease of use.

Other key players in the market include Baxter International Inc. and ICU Medical, Inc.

Key Highlights of the Report

Key Questions Answered in the Singapore Syringe Pump Market Report

• What was the Singapore syringe pump market value in 2023?
• What is the Singapore syringe pump market forecast outlook for 2024-2032?
• What is market segmentation based on product?
• Who are the major end users in the market?
• Where does the syringe pump find its application in Singapore?
• What are the major factors aiding the Singapore syringe pump market demand? 
• How has the market performed so far and how is it anticipated to perform in the coming years?
• What are the market's major drivers, opportunities, and restraints? 
• How do the prevalence and incidence of chronic diseases affect the market landscape?
• What are the major Singapore syringe pump market trends?
• How does the rise in the geriatric population impact the market size?
• Which product will dominate the market share? 
• Which application area is expected to have a high market value in the coming years?
• Which end user is projected to contribute to the highest market growth?
• Who are the key players involved in the Singapore syringe pump market?
• What are the current unmet needs and challenges in the market?
• How are partnerships, collaborations, mergers and acquisitions among the key market players shaping the market dynamics?