Syringe Market Overview in Cyprus
Market Overview
The Cypriot syringe market contracted sharply to $
in 2019, shrinking by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption saw a mild decrease. The most prominent rate of growth was recorded in 2009 when the market value increased by % year-to-year. Syringe consumption peaked at $ in 2016; however, from 2017 to 2019, consumption stood at a somewhat lower figure.
in 2019, shrinking by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption saw a mild decrease. The most prominent rate of growth was recorded in 2009 when the market value increased by % year-to-year. Syringe consumption peaked at $ in 2016; however, from 2017 to 2019, consumption stood at a somewhat lower figure.Consumption
In 2019, consumption of syringes, with or without needles decreased by -% to units, falling for the fourth consecutive year after two years of growth. Over the period under review, consumption saw a noticeable setback. The most prominent rate of growth was recorded in 2009 with an increase of % y-o-y. Syringe consumption peaked at units in 2015; however, from 2016 to 2019, consumption stood at a somewhat lower figure.
The revenue of the syringe market in Cyprus dropped rapidly to $ in 2019, falling by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded a mild downturn. The most prominent rate of growth was recorded in 2009 when the market value increased by % y-o-y. Over the period under review, the market reached the peak level at $ in 2016; however, from 2017 to 2019, consumption remained at a lower figure.
% to units, falling for the fourth consecutive year after two years of growth. Over the period under review, consumption saw a noticeable setback. The most prominent rate of growth was recorded in 2009 with an increase of % y-o-y. Syringe consumption peaked at units in 2015; however, from 2016 to 2019, consumption stood at a somewhat lower figure.The revenue of the syringe market in Cyprus dropped rapidly to $
in 2019, falling by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded a mild downturn. The most prominent rate of growth was recorded in 2009 when the market value increased by % y-o-y. Over the period under review, the market reached the peak level at $ in 2016; however, from 2017 to 2019, consumption remained at a lower figure.Market Forecast
Driven by rising demand for syringe in Cyprus, the market is expected to start an upward consumption trend over the next decade. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +% for the period from 2019 to , which is projected to bring the market volume to units by the end of .
% for the period from 2019 to , which is projected to bring the market volume to units by the end of .Trade Balance
Cyprus remains a net importer of syringe; in physical and value terms, imports consistently exceeded exports from 2007 to 2019. In 2019, there was a significant trade deficit of units, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
units, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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