Disposable Syringes Market is Expected to Reach ~US$ 14.4 Bn by 2030 | Say’s TMR
Nov 23, 2022
Disposable Syringes Market: Introduction
According to the report, the global disposable syringes market was valued at US$ 6.9 Bn in 2019 and is expected to expand at a CAGR of ~7% during the forecast period from 2020 to 2030. 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 2030.
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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.
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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.
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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.
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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 sinfected 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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