The global disposable syringes market size surpassed US$ 5.5 billion in 2019, and is projected to reach US$ 8.2 billion by 2027, registering a CAGR of 5.3% from 2020 to 2027.
The major factor that contributes to the growth of the disposable syringes market include surge in the use of injectable drugs, due to the lack of bioavailability in conventional drug delivery methods. Furthermore, other factors such as rise in healthcare expenditure and surge in cases of needlestick injuries also fuel the growth of the market. In addition, surge in prevalence of various chronic diseases that require use of disposable syringe systems is another major factor that contributes to the growth of market. However, high cost of safety disposable syringes restricts market growth. Conversely, high growth potential in developing economies is expected to offer lucrative opportunities during the forecast period.
A syringe which is designed for one time use and is discarded after the use is called as a disposable syringe. Furthermore, a syringe is defined as a sterile cylindrical medical instrument which has a thin hollow needle at the end. In addition, this device acts as a pump, which is used to draw therapeutic liquid formulation from vials and deliver them to the blood stream of a patient. Moreover, syringes are also employed for extraction of fluids from the body such as blood.There are different types of disposable syringes present in the market such as conventional disposable syringes and safety disposable syringes. These two types of disposable syringes are different from each other based on their mechanism of action. For instance, safety disposable syringeshave a safety mechanism built into the syringe such as a sheath which is placed over the needle or the needle that retracts into the barrel following injection.
According to product type, the safety disposable syringes segment acquired the major share of the market. Furthermore, the segment is also expected to exhibit fastest growth during the forecast period, owing to factors such as rise in adoption of safety disposable syringes. This is due to presence of favorable government initiatives, such as occupational safety and health administration (OSHA), an agency in the U.S., assures safe and healthy working conditions for working men and women. Similarly, the world health organization (WHO) launched a new policy in 2015 to eradicate the practice of unsafe injections globally. Moreover, increase in awareness among clinicians related to benefits offered by these devices boosts the market growth. Development of the healthcare industry in developing regions is another factor that contributes toward the growth of safety disposable syringes.
By application, the therapeutic injections segment acquired the major share of the disposable syringes market. This growth of the segment is attributable to the factors such as surge in prevalence of various chronic disorders such as diabetes and cancer, which require the administration of therapeutic agents with the help of disposable syringes. Furthermore, the immunization injection segment is expected to grow at the fastest pace during the forecast period, owing to the factors such as rise in the awareness related to benefits of vaccination across the globe.
By region, North America accounted for the major disposable syringes market share in 2018 and is expected to continue this trend, owing to easy availability of disposable syringes. Moreover, surge in prevalence of various chronic conditions, which require immunization is another major reason that contributes to the growth of this market. On the other side, Asia-Pacific is estimated to register the fastest growth during the forecast period, attributed to the increase in awareness regarding the use of disposable syringes in the region. The constantly evolving life science industry drives the growth of the market in developing economies such as India, China, and Malaysia. As constant development leads to surge in awareness related to use of disposable syringes.
The global disposable syringes market is highly competitive and the prominent players in the market have adopted various strategies to garner maximum market share. These include collaboration, product launch, partnership, and acquisition. Major players operating in the market include Baxter International Inc., B. Braun Melsungen AG, Becton, Dickinson and Company, Cardinal Health, Henke-Sass Wolf, Nipro Medical Corporation, Novo Nordisk A/S, Retractable Technologies, Inc., Terumo Corporation, and Vita Needle Company.
Key Benefits For Stakeholders
This report entails a detailed quantitative analysis along with the current global disposable syringes market trends from 2020 to 2027 to identify the prevailing opportunities along with the strategic assessment.
The disposable syringes market forecast is studied from 2020 to 2027.
The market size and estimations are based on a comprehensive analysis of key developments in the industry.
A qualitative analysis based on innovative products facilitates strategic business planning.
The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the market
Key Market Segments
By Product type
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