Disposable Syringes Market Will Continue To Develop During The Projection Period

 Disposable Syringes Industry Overview

The global disposable syringes market size was valued at USD 13.45 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.12% from 2022 to 2030. 

The growth is attributed to the growing prevalence of chronic disorders, increasing adoption of safety syringes, and a growing number of surgeries globally. For instance, according to Mölnlycke Health Care AB in 2021, 70 million surgical procedures are performed every year in Europe.

Earlier the syringes were expensive and were used to be manufactured abundantly. Hence, healthcare professionals had to reuse syringes on different patients. As a result, it was critical for all doctors/physicians to properly sterilize and sharpen the syringe after each use. Therefore, many chronic diseases began to spread in past years. Due to this demand for disposable syringes has been increased due to their several benefits over reusable syringes. Several benefits of disposable syringes are course sterilization and safety.

 

Gather more insights about the market drivers, restrains and growth of the Global Disposable Syringes Market

Since the introduction of disposable syringes, patients no longer have to rely solely on the doctors' sterilization protocols for their safety, as they are discarded after one use. As a result, there is no risk of cross-contamination. Other advantages of disposable syringes include their low cost and environmental friendliness. These factors are positively impacting sales growth. In future years, the market is predicted to expand.

The COVID-19 pandemic has had a considerable impact on all industries, On the other hand an increase in hospitalization rates has been observed. This is likely to increase the revenue generation channel for companies in the disposable syringes market. Additionally, due to syringe shortages, global manufacturing capacity has been increased in a number of nations, including South Korea, which has doubled its syringe supply for the COVID-19 immunization campaign in 2021.

Manufacturers are focused on efficient sterilizing procedures to avoid infections among healthcare practitioners and patients in the wake of the rapidly spreading COVID-19 pandemic. As a result, companies operating in the market are focusing on improving operational performance in order to increase their global credibility. For instance, in June 2021, to support global COVID-19 immunization efforts, BD, a multinational medical technology company, announced that it has received pandemic orders for 2 billion injectable devices in syringes and needles.

This new milestone reflects assurances from governments around the world, including Australia, the UK, Canada, Brazil, Germany, France, the Philippines, India, South Africa, Spain, Saudi Arabia, and the U.S, as well as non-governmental organizations that support vaccine deployment in developing countries. These characteristics are projected to generate lucrative market growth prospects.

However, according to the World Health Organization (WHO), there will be a 2.0 billion needle deficiency by 2022. This is due to increased demand, supply-chain disruptions, and ‘syringe nationalism' that "may pose substantial hurdles in 2022. As a result, most countries throughout the world have begun to reduce security regulations and resume certain elective treatments, indicating that the market will continue to develop during the projection period.

Additionally organizations are gaining knowledge in their end-to-end supply chains in order to reduce product prices and improve the quality and services associated with disposable syringes. Such operational ideas help organizations save money by eliminating third-party expenses. These characteristics are projected to generate lucrative market growth prospects. 

Moreover, increasing prevalence of chronic disorders such as Crohn's disease and diabetes which can be managed by self-injecting medication. For instance, as per the International Diabetes Federation 2021 report, the number of people living with diabetes are approximately 537 million adults (20-79) in 2021 to nearly 783 million by 2045. Syringes are required for the majority of diagnostic and therapeutic approaches for chronic diseases, since they play an important role during medication administration and tests, resulting in rising demand for the product.

Furthermore, major companies are focusing on producing syringes designed exclusively for chronic disease therapy in order to increase their market position. For instance, Hypak SCF PRTC glass pre-fillable syringe from BD is used to treat chronic disorders. Along with that in May 2021, BD has announced plans to spin out its Diabetes Care division as a separate, publicly-traded company ("NewCo"). BD Diabetes Care has been a major force behind the adoption of insulin syringes and other products, generating roughly 8 billion injection devices each year and supporting approximately 30 million patients.      

Along with the above factors, the need for disposable syringes in various healthcare settings is likely to increase with the growing aging population, a demographic that is more susceptible to chronic illnesses such as diabetes and other lifestyle-related disorders. In addition, according to CDC, adults aged 65 years and above are more likely to acquire heart disease, COPS, diabetes, cancer, neurological problems, and other chronic illnesses. Patients with such illnesses require emergency and nonemergency hospital services which is expected to spur the market growth in the near future.

China dominated the market with a market revenue share of 27.09% in 2021. Government initiatives to encourage the adoption of disposable medical supplies in order to prevent infections in operating rooms is the key factor responsible for growth of the market in this region. Increasing prevalence of chronic diseases and the growing geriatric population are the factors that drive the market growth in China.      

According to Front. Public Health in 2020, chronic NCDs account for about 80% of mortality in China among adults aged 60, with Ischemic Heart Disease, Stroke, Chronic Obstructive Pulmonary Disease (COPD), and Type 2 Diabetes being the most common. Additionally, market growth is being driven by continued medical infrastructure construction, as well as growing government and private sector investments to promote the usage of safer and more cost-effective healthcare solutions.

 

Browse through Grand View Research's Medical Devices Industry Research Reports.

• Needles Market - The global needles market size was valued at USD 5.97 billion in 2017. The market is projected to expand further at a strong CAGR of 6.6% over the forecast period. Increasing geriatric population and demand for vaccines are among the key growth-driving factors. 

 

• Syringes Market - The global syringes market size was valued at USD 13.5 billion in 2018 and is expected to grow at a compound annual growth rate (CAGR) of8.5% from 2019 to 2026.

 

Disposable Syringes Market Segmentation

Grand View Research has segmented the global disposable syringes market based on product, application, and region

• Disposable Syringes Product Outlook (Revenue, USD Million, 2017 - 2030) 
  • Conventional Syringes
  • Safety Syringes
  • Retractable Safety Syringes
  • Non-retractable Safety Syringes

 

• Disposable Syringes Application Outlook (Revenue, USD Million, 2017 - 2030)
  • Immunization Injections
  • Therapeutic Injections

 

• Disposable Syringes Regional Outlook (Revenue, USD Million, 2017 - 2030)
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

 

Market Share Insights

• March 2021: A new government order for 265 million (auto disposable) AD syringes has been placed with Hindustan Syringes & Medical Devices Ltd (HMD).
• August 2019: Morimoto Pharmaceuticals, based in Japan, has launched a new prefilled syringe kit named Morimoto S.A.F.E. Syringe Kit (Smart Accident prevention, Fast & Easy).

Key Companies profiled:

Some prominent players in the disposable syringes market include

• Medtronic (Covidien)
• Nipro Corporation
• Fresenius Kabi
• Baxter
• BD
• Braun Melsungen AG
• Terumo Corporation
• Flextronics International Vita Needle Company
• Novo Nordisk
• UltiMed, Inc.
• Henke-Sass Wolf
• Retractable Technologies

 

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