Press Release

Disposable Syringes Market to Grow with a CAGR of 6.10% through 2028

Increasing number of patients at risk of developing stroke and increased health care expenditure is expected to drive the Global Disposable Syringes Market growth in the forecast period, 2024-2028.

 

According to TechSci Research report, “Disposable Syringes Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Disposable Syringes Market stood at USD 14.20 Billion in 2022 and is anticipated to grow with a CAGR of 6.10% in the forecast period, 2024-2028. Significant growth in disposable syringe market revenue can be attributed to rapid technological advancements in auto-injector syringes, an increasing rate of immunization, substantial improvements in syringe manufacturing processes, and the growing consumer demand from the pharmaceutical industry.

 

The growth of the disposable syringes market is primarily driven by several key factors. One significant factor is the increased utilization of injectable drugs, driven by the limitations of conventional drug delivery methods in terms of bioavailability. Additionally, the market is fueled by the rise in healthcare expenditure and the escalating number of needlestick injuries. Moreover, the prevalence of various chronic diseases that necessitate the use of disposable syringe systems is also a crucial contributing factor to market growth.

           

 

Browse over XX market data Figures spread through XX Pages and an in-depth TOC on "Global Disposable Syringes Market.

 

 

The global market for disposable syringes is witnessing significant growth due to several factors. At the heart of this expansion is the increasing prevalence of chronic diseases coupled with the rising geriatric population, both of which necessitate the need for safe and efficient drug delivery methods. In addition, the COVID-19 pandemic has substantially spurred demand as vaccines and therapeutic injections became pivotal in the fight against the virus. Consequently, manufacturers have ramped up production to meet this surge, further driving market growth.

 

Disposable syringes offer numerous advantages over their traditional counterparts. They are easy to use, minimize the risk of cross-contamination, and help avoid needlestick injuries, making them an ideal choice in clinical settings. Recent innovations have added to these benefits, introducing features such as pre-filled syringes and auto-disable syringes that further enhance safety and convenience for healthcare professionals and patients alike.

 

However, the disposable syringe market faces certain obstacles that may impede growth. One of the significant barriers is the environmental concern surrounding the disposal of these single-use medical products. Governments and environmental agencies worldwide are pushing for greener alternatives, leading manufacturers to explore biodegradable materials and recycling programs.

 

The growth can be attributed to the increasing prevalence of chronic disorders, the rising adoption of safety syringes, and the growing number of surgeries worldwide. For example, Mölnlycke Health Care AB reports that Europe alone sees 70 million surgical procedures performed each year. The introduction of disposable syringes has eliminated the need for patients to solely rely on doctors' sterilization protocols for their safety, as these syringes are discarded after single use, eliminating the risk of cross-contamination. Moreover, the cost efficiency and environmental friendliness of disposable syringes further contribute to their increasing demand and sales growth. These factors are anticipated to drive market expansion in the coming years.

 

Furthermore, organizations are enhancing their end-to-end supply chains to reduce product prices and enhance the quality and services associated with disposable syringes. By eliminating third-party expenses, organizations can save money and improve operational efficiency, which in turn generates lucrative market growth prospects. Additionally, the growing prevalence of chronic disorders such as diabetes has led to an increased need for self-injection medication. Syringes play a crucial role in administering medication and conducting diagnostic tests for chronic diseases, further driving the demand for these products.

 

Major companies are also focusing on developing syringes specifically designed for chronic disease therapy to strengthen their market position. For instance, BD's Hypak SCF PRTC glass pre-fillable syringe is utilized in the treatment of chronic disorders. Furthermore, BD's announcement to spin out its Diabetes Care division as a separate publicly traded company ("NewCo") in May 2021 highlights the company's commitment to insulin syringes and other related products, supporting approximately 30 million patients and generating around 8 billion injection devices annually. Similarly, the collaboration between Transcoject and Stevanato Group in January 2023 aims to provide pre-fillable syringe polymer options for the pharmaceutical industry.

 

In addition to the aforementioned factors, the demand for disposable syringes is expected to rise in various healthcare settings due to the growing aging population, which is more susceptible to chronic illnesses like diabetes and other lifestyle-related disorders. Furthermore, according to the Centers for Disease Control and Prevention (CDC), adults aged 65 years and above are more likely to experience heart disease, COPD, diabetes, cancer, neurological problems, and other chronic illnesses. Consequently, these patients require both emergency and non-emergency hospital services, which is expected to drive market growth in the near future.

 

The Global Disposable Syringes Market is segmented into product, application, end user, regional distribution, and company.

Based on the product, the global disposable syringes market has been divided into conventional syringes and safety syringes. The safety disposable syringes segment holds the largest market share, according to product type. Moreover, this segment is expected to experience the fastest growth during the forecast period. This can be attributed to the increased adoption of safety disposable syringes, driven by favorable government initiatives such as the Occupational Safety and Health Administration (OSHA) in the U.S., which ensures safe and healthy working conditions for employees. The development of the healthcare industry in emerging regions is also a significant factor driving the growth of safety disposable syringes.

 

Based on region, North America segment is expected to grow during the forecast period. North America is expected to maintain a significant market share throughout the forecast period. This can be attributed to several factors, including the high prevalence of various diseases leading to increased demand for diagnosis and treatment, the need for preventing infectious diseases, and the growing number of approvals and launches of parenteral drugs. Additionally, government initiatives aimed at preventing blood-borne infections and the establishment of new hospitals are anticipated to drive market growth in the coming years.

 

The substantial burden of hospital admissions is also expected to contribute to market expansion. As an example, according to the Canadian Institute for Health Information's data from July 2023, there were nearly 2.9 million acute inpatient hospitalizations in Canada during 2021-2022, compared to 2.7 million in the previous year. This high admission rate necessitates the use of disposable syringes for diagnosis and treatment purposes, thereby boosting market growth. Furthermore, government authorities' initiatives to ensure proper disposal of single-use syringes and discourage their reuse are projected to further augment market growth. For instance, in April 2023, a public syringe disposal pilot program was launched in Dover with the installation of two needle disposal units. This program addresses public concerns regarding the inappropriate disposal of syringes in Dover, Delaware. Such initiatives raise awareness about the proper utilization of disposable syringes, thus contributing to market growth.  

 

Major companies operating in Global Disposable Syringes Market are:

  • Gerresheimer AG
  • Baxter International Inc.
  • Becton, Dickinson and Company
  • B. Braun SE
  • Cardinal Health, Inc.
  • Schott AG
  • Hindustan Syringes & Medical Devices Ltd
  • Nipro Corporation
  • Retractable Technologies Inc.
  • Terumo Corporation

 

Download Free Sample Report

Customers can also request for 10% free customization on this report.

 

“There is an increase in the use of disposable syringes to support the diagnosis and treatment of various chronic diseases, including heart disease, cancer, stroke, respiratory disease, injuries, diabetes, Alzheimer's disease, influenza, and pneumonia. This, along with the rising number of surgeries worldwide, is a key driver of the market. Additionally, the number of patients with acquired immune deficiency syndrome (AIDS) is increasing globally due to unprotected sexual contact and contact with infected blood. This, coupled with the growing healthcare industry, is fueling market growth. Moreover, needlestick injuries among patients are contributing to the demand for disposable syringes. The rising trend of self-injecting medicines also presents profitable opportunities for industry investors. Governments of many countries are taking initiatives to promote the use of disposable medical supplies in operating rooms to prevent infection spread. These initiatives are expected to boost market growth in the future.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

 

Disposable Syringes Market Segmented By Product (Conventional Syringes, Safety Syringes), By Application (Immunization Injections, Therapeutic Injections), By End User (Hospitals & Clinics, Ambulatory Care Centres, Diagnostic Centres, Others), By Region and Competition, Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Global Disposable Syringes Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Disposable Syringes Market.

 

Contact

Mr. Ken Mathews

708 Third Avenue,

Manhattan, NY,

New York – 10017

Tel: +1-646-360-1656

Email:[email protected]

Website: https://www.techsciresearch.com

Relevant News