The global disposable syringes market size is anticipated to reach USD 22.81 billion by 2030, registering a CAGR of 6.12% over the forecast period, according to a new report by Grand View Research, Inc. The market is expected to expand due to the increasing adoption of safety syringes, technological advancements, increasing demand for vaccines along with growing adoption of self-administration of drugs are supporting the market growth of disposable syringes.
Disposable Syringes Market Report Highlights
- By product, safety syringes accounted for the largest market revenue share of 64.03% in 2021, due to its advantages being easy to use, and eliminating the risk of patient-to-patient transmission of infections
- Based on the application, the therapeutic injection segment dominated the market with a market revenue share of 51.19% in 2021, owing to the increasing awareness of blood donation and the high prevalence of diseases such as HIV infection, tuberculosis malaria, and dengue in the developing and underdeveloped countries
- The Asia Pacific dominated the disposable syringe market with the highest revenue share of 31.06% in 2021 due to the presence of a huge aging population base along with the prevalence of chronic diseases in the region
- The market in the MEA is expected to witness the fastest growth rate at a compound annual growth rate (CAGR) of 8.07% over the forecast period. The growth is attributed to the growing geriatric population, an increasing number of surgeries, and rising expenditure on healthcare
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Disposable sterile syringes are usually made of medical-grade plastic and come with a clear barrel showing precise gauges to help with measurement. They are quite cheap and one-time-use products that are not intended for re-sterilization after use. They feature two-part construction that eliminates the need for rubber or synthetic plunger gaskets, and requires no lubricant.
The COVID-19 pandemic has resulted in a significant surge in demand for emergency supplies, medical disposables, medicines, and hospital equipment. As a result of COVID-19, there has been an increase in the production of COVID-19 vaccines, resulted in rise in demand for disposable syringes. In January 2020, in the U.S alone, the Biomedical Advanced Research and Development Authority (BARDA) projected that 650 million to 850 million needles and syringes would be required to administer a vaccination. This in turn, positively impacted the market growth and is estimated to continue to be a growth driver. Moving forward, organizations like United Nations Children’s Fund (UNICEF) aimed to purchase 1 billion syringes by the end of 2021 for COVID-19 vaccination operations in COVAX Facility nations. The syringes will all be of the auto-disable (AD) type, as permitted by the World Health Organization, notwithstanding the fact that the vaccines secured by the Facility may vary in their composition and storage needs. As a result, market growth is expected to accelerate in the near future.
Disposable Syringes Market Insights By Demographics
Asia Pacific dominated the market and accounted for largest revenue share. Increase in aging population and prevalence of chronic diseases in the region coupled with high awareness regarding the safety of disposable products are likely to increase the demand for disposable syringes in this region. The market in MEA is likely to grow at a healthy pace. Due to shortfall, the demand for disposable syringe will continue to grow.
Competitive Analysis By Major Companies
Companies operating in the market are stepping up their efforts to get their products approved so that manufacturers can start mass production. One of the main areas of concern for manufacturers is the avoidance of unintentional needle stick injuries in healthcare settings. the market players are adopting various strategies, such as mergers & acquisitions, partnerships, product launches and innovations such as introduction of prefilled syringe products to strengthen their foothold in the market. Key players in the market are beefing up their R&D capabilities in order to deploy safe and simple medical practices, which is expected to enhance market growth in the near future. Some prominent players in the disposable syringes market include
- MEDTRONIC (Covidien)
- Nipro Corporation
- Fresenius Kabi AG
- Baxter International, Inc.
- Braun Melsungen AG
- BD
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Disposable Syringes Market Segmentation
Grand View Research has segmented the global disposable syringes market based on product, application, end use and region
- Disposable Syringes Product Outlook (Revenue, USD Million, 2017 – 2030)
- Disposable Syringes Application Outlook (Revenue, USD Million,2017 – 2030)
- Disposable Syringes End Use Outlook (Revenue USD Million; 2017 – 2030)
- Disposable Syringes Regional Outlook (Revenue, USD Million, 2017 – 2030)
- List of Key Players of Disposable Syringes Market
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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