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.
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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
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“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.
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