The global disposable syringes market size is projected to surpass US$ 14 billion by 2027 and is expected to grow at a CAGR of 7% during the forecast period from 2020 to 2027.
A disposable syringe is made for one-time use. It is then disposed of, typically into a contamination unit. Various types of syringes are available in the market depending upon their usage and other variables. Disposable syringes are becoming increasingly popular due to their affordability and prevention of infections, particularly blood-borne infections. In terms of value, North America dominated the global disposable syringes market in 2019. It is expected to continue its dominance by the end of 2027.
Rise in Global Cases of Needle-stick Injuries to Drive Disposable Syringes Market
Needle-stick injuries are percutaneous piercing wounds caused by needle tips. These injuries can occur while using, handling, disassembling, or disposing needles and syringes. High incidence rate of needle-stick injuries and associated serious consequences are prompting healthcare professionals to use syringes with a safety mechanism. This is boosting the disposable syringes market. According to Eucomed, an organization that represents the medical technology industry in Europe, around 1 million needle-stick injuries occur in the region annually. Sustained growth of the injectable drugs market and increase in demand for point-of-care administration are some of the major factors driving the global disposable syringes market. Moreover, technological advancements in the manufacture of disposable syringes are key factors fueling the global disposable syringes market.
Syringes to Dominate Disposable Syringes Market
Based on product, the global disposable syringes market has been divided into syringes, needles, oral syringes, and filling needles. The syringes segment accounted for a major share of the global disposable syringes market in 2019, owing to the increase in self-administration of drugs and rise in demand for disposable syringes due to their higher safety profile. The syringes segment has been bifurcated into conventional and safety. Safety syringes sub-segment is anticipated to be a highly lucrative sub-segment during the forecast period, owing to the rise in needle-stick injuries across the world and increase in government initiatives & regulations regarding safe injection practices. The needles segment has been bifurcated into conventional and safety. The safety sub-segment is estimated to expand at a fast CAGR during the forecast period, due to higher safety measures and features offered by this type of syringe over others.
Medication Delivery to Offer Growth Opportunities
In terms of application, the global disposable syringes market has been classified into medication preparation, medication delivery, and other clinical usages. The medication delivery segment dominated the global disposable syringes market in 2019. It is estimated to be more lucrative during the forecast period. Furthermore, increase in demand for disposable syringes in medication delivery; new product launches, and sustained growth of the injectable drugs market are key factors augmenting the medication delivery segment.
Hospitals Major End Users of Disposable Syringes
Based on end user, the global disposable syringes market has been segregated into hospitals, diagnostic laboratories, blood banks, pharmaceutical industry (B2B) (prefilled syringes), vaccination, and veterinary purposes. The hospitals segment accounted for a prominent share of the global disposable syringes market in 2019 due to rise in hospital admissions for the treatment of chronic diseases, better supply chain management, and availability of skilled staff in hospitals. Vaccination is projected to be a highly promising end user segment of the global disposable syringes market in the near future due to the increase in incidence of various viral diseases and rise in preventive measures such as urge for using Safety by global as well as national authorities.
North America to Dominate Disposable Syringes Market
Based on region, the global disposable syringes market has been split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America constituted significant share of the global disposable syringes market in 2019, owing to the rise in emphasis on safety of patients & health care providers, new legislations designed to incorporate the practice of safety, and new products launched by market players. In July 2018, the U.S. Department of Health and Human Services (HHS) proposed a new safety database for ambulatory surgery centers in order to ensure safe procedures at ambulatory surgical centers and lower chances of infection. The disposable syringes market in Asia Pacific is likely to expand at a faster CAGR during the forecast period, owing to rise in awareness about needle-stick injuries among the general population, rapid adoption of medical technologies, and increase in awareness about transmission of disease due to the use of infected syringes and other consumables in hospitals.
The global disposable syringes market is fragmented in terms of number of players, with the entry of several emerging players in the recent years. Key players operating in the global disposable syringes market include Becton, Dickinson and Company (BD), Injex Surgical Industries, McKesson Medical-Surgical Inc., NIPRO Medical Corporation, PiSA Farmacéutica, Sol-Millennium Medical, Inc., Baxter International Inc., Terumo Medical Corporation, Smiths Group PLC, and B. Braun Melsungen AG. Mergers, acquisitions & strategic collaborations, distribution agreements, and new product & technology launches are some of the key strategies adopted by major companies in the global disposable syringes market.
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Scope of the Report
VRR’S report on the global disposable syringes market studies past as well as current growth trends and opportunities to gain valuable insights of the indicators for the said market during the forecast period from 2020 to 2027. The report provides the overall market value of the global disposable syringes market for the period of 2016 to 2030, with 2020 as the base year and 2027 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global disposable syringes market for the forecast period.
The report has been prepared after an extensive primary and secondary research. Primary research involves bulk of research efforts, wherein analysts carry out interviews with key opinion leaders, industry leaders, and opinion makers. Extensive secondary research involves referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global disposable syringes market.
Secondary research also includes Internet sources, statistical data from government agencies, websites, and trade associations. Analysts have employed a combination of top-down and bottom-up approach to study various phenomena in the global disposable syringes market.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments and sub-segments included in the scope of the study. Furthermore, the report sheds light on the changing competitive dynamics in the global disposable syringes market. These indices serve as valuable tools for existing market players as well as for entities interested in participating in the global disposable syringes market.
The report delves into the competition landscape of the global disposable syringes market. Key players operating in the global disposable syringes market have been identified, and each one of them has been profiled for their distinguishing business attributes. Company overview, financial standings, recent developments, and SWOTs are some of the attributes of players in the global disposable syringes market that have been profiled in this report.
Key Questions Answered in Disposable Syringes Market Report
Research Objectives and Research Approach
The comprehensive report on the global disposable syringes market begins with an overview of the said market, followed by the scope and objectives of this study. Following this, the report provides detailed explanation of the objectives behind this study, key industrial developments in terms of merger, acquisition, strategic partnerships, key investments, Porter’s Five Forces analysis, and pricing analysis have been provided.
For reading comprehensibility, the report has been compiled in a chapter-wise layout, with each section divided into small sections. The entire report comprises an exhaustive collection of graphs and tables appropriately interspersed in the entire compilation. Pictorial representation of actual and projected values of key segments is visually appealing to readers. This also allows comparison of the market shares of key segments in the past and at the end of the forecast period.
The report analyzes the global disposable syringes market in terms of product, application, end user, and region. Key segments under each criteria have been studied at length, and the expected market share for each of them by the end of 2030 has been provided herein. Such valuable insights enable market stakeholders in making informed business decisions regarding investment in the global disposable syringes market.
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