Rising Focus on Preventing Spread of Infection and Ensuring Sterility during Injections to Fuel Revenue Growth of Disposable Syringes Market: Reports and Data
Increasing prevalence of various chronic diseases and rising adoption of injectable drugs are some of the key factors driving market revenue growth
The global disposable syringes market size is expected to reach USD 9.22 Billion in 2028 and register a revenue CAGR of 5.6% during the forecast period, according to a latest report by Reports and Data. Increasing prevalence of various chronic diseases such as diabetes, cancer, heart-related diseases, obesity, respiratory diseases, and oral diseases, coupled with rising need for easy to use and safer disposable syringes to administer drugs are key factors expected to drive market revenue growth during the forecast period. For instance, as per the National Health Control, chronic diseases affect approximately 133 Million Americans, which represents more than 40% of the total population of the US. Over 75% of all healthcare costs are mainly due to chronic conditions. In addition, rising need to collect blood samples for various tests in order to provide appropriate treatment is boosting demand for disposable syringes in hospitals, clinics, and pathological laboratories globally.
Rising adoption of injectable drugs in accordance with increasing number of diabetic patients is expected to support revenue growth of the global disposable syringes market during the forecast period. Disposable syringes ensure safety and prevention from spread of infection, which is resulting in growing demand for the product.
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Shifting preference of healthcare professionals towards safe disposable syringes is boosting the market revenue growth. Safety syringes minimize the risk of needle-stick injuries to the users and for third parties, and reuse is prevented. Rising cases of needlestick injuries across the world is driving demand for safety syringes. Manufacturers are increasingly investing in the R & D activities to launch of advanced disposable syringes in order to meet the growing demand for easy-to-use drug delivery devices.
Some Key Highlights in the Report
- In October 2019, Becton, Dickinson, and Company (BD) launched the BD Intevi 1 mL two-step disposable auto-injector. Disposable autoinjector is a device which combines ore-fillable syringe and autoinjector in one integrated system. Design of the new product enables the pharmaceutical industry to adopt it for a variety of drugs without customizing the system components. It is a new generation of BD autoinjectors that can help drug manufacturers seamlessly enhance drug delivery experience.
- Pre-filled syringes segment is expected to register a significantly high revenue growth rate over the forecast period. Properties such as minimizing drug waste and enhanced drug lifespan offered by pre-filled syringes is resulting in growing demand for disposable syringes in the pharmaceutical industry.
- Immunization injections segment is expected to register a significantly high revenue growth rate over the forecast period. Increasing number of immunization programs and initiatives taken by government of various countries for providing vaccinations to people is boosting demand for immunization injections and driving revenue growth of this segment.
- Blood collection centers segment is expected to register a significantly high revenue growth rate over the forecast period. Increasing prevalence of certain chronic diseases is resulting in need for collecting blood samples for tests, which is driving adoption of disposable syringes among the blood collection centers as these syringes are safe and help prevent spread of infectious diseases and cross contamination.
- The market in Asia Pacific is expected to register steady revenue CAGR over the forecast period. Increase in number of hospitals, clinics, pathological laboratories is expected to boost the market revenue growth in the region during the forecast period.
- Companies profiled in the global market report include B. Braun, Baxter International, Becton, Dickinson, and Company, Cardinal Health, Inc., Fresenius Kabi AG, Terumo Corporation, Novo Nordisk, Henke-Sass, Wolf GmbH, Hindustan Syringes & Medical Devices, and Nipro Corporation.
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For the purpose of this report, Reports and Data has segmented the global disposable syringes market on the basis of product type, application, end use, and region:
Product Type Outlook (Revenue, USD Billion; 2018-2028)
- General Syringes
- Specialized Syringes
- Safety Syringes
- Pre-filled Syringes
Application Outlook (Revenue, USD Billion; 2018-2028)
- Immunization Injections
- Therapeutic Injections
End use Outlook (Revenue, USD Billion; 2018-2028)
- Blood Collection Centers
- Diabetic centers
- Veterinary Clinics
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Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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