India Disposable Syringes Market to Grow at a CAGR of 13.28% Through FY2026
Growing prevalence of
chronic diseases, especially diabetes, increasing adoption of injectable drugs,
growing number of vaccination and immunization programs are expected to drive the
India Disposable Syringes market during the forecast period.
According to TechSci
Research report, “India Disposable
Syringes Market By Type (Conventional Syringes (Normal Slip Tip Syringes,
Luer Lock Syringes, Catheter Tip Syringes, Eccentric Tip Syringes), Pre-filled Syringes
(Needle-free Pre-filled Syringes and Needled Pre-filled Syringes), Safety Syringes
(Retractable Safety Syringes and Non-Retractable Safety Syringes)), By
Application (General Surgery, Diagnostic, Therapeutic, Respiratory,
Orthopedics, Cardiovascular, Dental, Others), By End User (Hospitals,
Diagnostic Laboratories, Blood Banks, Pharmaceutical Industry, Vaccination,
Veterinary Purposes, Others), By Material (Glass, Polymer), By Region, Forecast
& Opportunities, FY2026”, India Disposable Syringes market was valued at
USD888.40 million in FY2020 and is forecast to grow at a CAGR of 13.28% in
value terms to reach USD1,828.20 million by FY2026. Key factors propelling the
growth of the India Disposable Syringes market include the growing prevalence
of various chronic diseases, especially diabetes, which requires treatment using
disposable syringes, are also acting as major growth drivers for this market.
Moreover, increasing expenditure on healthcare and rising number of hospitals and
clinics are also driving the growth of the India Disposable Syringes market.
Also, increasing demand for COVID 19 vaccines is expected to fuel the market
growth through FY2026.
Additionally, the development of
self-injection devices is also creating a profitable opportunity for disposable
syringes manufacturers. The increasing cases of infectious diseases, including
COVID-19, are also creating a high demand for disposable syringes around the
world. Also, various government organizations are offering funding to companies
for manufacturing disposable syringes that can be used for the treatment of
coronavirus patients. However, the market is also prone to some challenges. The
high cost of safety disposable syringes
and increase in the cost of material due to high demand are expected to hamper the market growth. Moreover, the availability of
alternative delivery modes is also expected to hamper the India Disposable Syringes
market in the coming years.
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India Disposable Syringes market is
segmented based on type, application, end user, material, and region. Based on
type, the market can be segmented into conventional syringes, pre-filled syringes,
and safety syringes. The conventional syringes segment is further
categorized into
normal slip tip syringes, luer lock
syringes, and catheter tip syringes, eccentric tip syringes. The prefilled syringes
segment is further bifurcated into needle-free pre-filled syringes and needled
pre-filled syringes. The safety syringes segment is further categorized into
retractable safety syringes and non-retractable safety syringes. Among them,
safety syringes, particularly, non-retractable syringes, accounted for 62.05%
market share in FY2020. They are further expected to undergo high growth during
the forecast period as cases of transmission of blood-borne infections and frequent
needle injuries are rising owing to which, there is a growing demand for safer syringes.
Based on
application, the India Disposable Syringes market can be segmented into general
surgery, therapeutic, diagnostic, respiratory, orthopedics, cardiovascular,
dental and others. Among them, the therapeutic segment dominated the market in FY2020
owing to a spike in the prevalence of various chronic disorders that require
the usage of therapeutic agents with the help of disposable syringes. The
segment is expected to hold its dominance during the forecast period with the introduction
of new injectable drugs.
Major players
operating in the India Disposable Syringes market are Hindustan Syringes &
Medical Devices Ltd, Becton Dickinson Pvt Ltd., Novo Nordisk India Pvt Ltd.,
B.Braun Medical India Pvt. Ltd., Cardinal Health India Pvt. Ltd., Baxter
Pharmaceuticals India Pvt Ltd (BPIPL), Teleflex Medical Pvt Ltd, Terumo India
Pvt Ltd, Nipro India Corporation Pvt.
Ltd. ,Albert David Ltd).
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“Easy availability
of disposable syringes and high expenditure on healthcare is making India the
largest market for disposable syringes manufacturers and the region is expected
to dominate the market through FY2026. On the other hand, the safety syringes
segment is anticipated to witness the fastest growth during the forecast period
owing to growing awareness regarding needle injuries and disease transmission,”
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“India Disposable Syringes Market By Type
(Conventional Syringes, Pre-filled Syringes, Safety Syringes, By Application
(General Surgery, Diagnostic, Therapeutic, Respiratory, Orthopedics,
Cardiovascular, Dental, Others), By End User (Hospitals, Diagnostic
Laboratories, Blood Banks, Pharmaceutical Industry, Vaccination, Veterinary
Purposes, Others), By Material (Glass, Polymer), By Region, Forecast &
Opportunities, FY2026” has evaluated the future
growth potential of Global Disposable Syringes Market and provides statistics and
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 India Disposable Syringes market.
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