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Disposable Syringes Market Overview:
Disposable Syringes Market size is estimated to reach $24 billion by 2030, growing at a CAGR of 6.7% during the forecast period 2023-2030. The rising demand for injectable medications and increasing adoption of telemedicine are propelling the Disposable Syringes Market growth.
Additionally, the education and training programs for healthcare
providers and end-users on the proper use, handling and disposal are creating
substantial growth opportunities for the Disposable Syringes Market. As per
U.S. Bureau of Labor Statistics, health education specialists and community
health workers are expected to grow at a significant rate of 12% by 2031,
exceeding the average growth rate for all occupations. This reflects the
increasing demand for these professionals and underscores their crucial role in
advancing public health and wellness. These factors positively influence the Disposable
Syringes industry outlook during the forecast period.
Market Snapshot:
Disposable Syringes Market - Report Coverage:
The “Disposable
Syringes Market Report -
Forecast (2023-2030)” by
IndustryARC, covers an in-depth analysis of the following segments in the Disposable
Syringes Market.
COVID-19 / Ukraine Crisis - Impact Analysis:
●
The
COVID-19 pandemic has created a heightened demand for disposable syringes due
to the urgent need for vaccination campaigns worldwide. Vaccination programs
require massive quantities of syringes for administering vaccines, which has
resulted in increased production and sales of disposable syringes.
● The Ukraine crisis has disrupted the supply chain of disposable syringes, including procurement of raw materials, manufacturing and distribution. This can result in challenges in the availability and accessibility of disposable syringes, potentially leading to supply shortages and production delays.
Key Takeaways:
● Fastest Growth of Rest of the World : Geographically, in the global Disposable Syringes Market share, Rest of the World is analyzed to grow with the highest CAGR of 7.3% during the forecast period 2023-2030. The growth is attributed to the rising healthcare expenditure and infrastructure development in emerging economies. Moreover, the increasing prevalence of chronic diseases and the growing demand for injectable medications are also fueling the market. In November 2021, Revital Healthcare (EPZ) Limited, a Kenyan medical supply manufacturer, announced that it had received nearly $4 million from the Bill & Melinda Gates Foundation to expand the production of auto-disable vaccine syringes. This funding allowed Revital to increase syringe production volume from approximately 72 million.
● Therapeutic Injections is Leading the Market : According to the Therapeutic Injections Market forecast, the Therapeutic Injections held the largest market valuation of $5.9 billion in 2022 owing to the increasing prevalence of chronic diseases, rising demand for injectable medications and advancements in therapeutic treatments. Therapeutic injections are commonly used for administering medications for conditions such as diabetes, cancer, autoimmune diseases and others.
● Prefilled Syringes to Register the Fastest Growth : In the Disposable Syringes Market analysis, the Prefilled Syringes segment is estimated to grow with the highest CAGR of 7.2% during the forecast period. The increasing demand for efficient and convenient drug delivery systems drives the adoption of prefilled syringes. These syringes come pre-loaded with a precise dosage of medication, eliminating the need for manual filling and reducing the risk of dosing errors. In May 2022, Terumo Corporation introduced a pre-fillable polymer syringe designed for low-dose applications. This innovative product provides a safe, user-friendly, and efficient treatment solution, catering to the needs of healthcare professionals and patients alike.
● Adoption of Injectable Medication : The demand for injectable medications is on the rise due to the increasing prevalence of chronic diseases such as diabetes, cancer, cardiovascular diseases and the growing aging population as well as advancements in therapeutic treatments. Injectable medications are preferred for their fast and effective delivery, precise dosing and ease of administration. In 2022, as per Drug Development & Delivery article, the growth of the injectable drug delivery is projected reach of $83.38 billion by 2030 which demonstrates the rising demand for efficient and convenient administration of medication through injectable routes.
● Increasing Adoption of Telemedicine : Telemedicine enables patients to consult with healthcare professionals remotely, facilitating remote diagnosis, monitoring and prescription of medications. Disposable syringes play a crucial role in facilitating safe and convenient self-administration of injectable medications for chronic diseases like diabetes and autoimmune disorders. Syringes with their convenience, ease of use and disposable nature have become an essential tool in the telemedicine ecosystem which is driving the demand and growth of the market. In 2022, according to the NCBI report, over 57% of individuals aged 0-17 showed a high inclination towards using telehealth services and indicating a strong willingness among younger individuals to adopt telemedicine.
● High Cost and Affordability Hamper the Market Growth : Expensive production processes, raw material costs and pricing limit accessibility, especially in resource-constrained settings and pose challenges for patients, healthcare providers and healthcare systems in procuring and using disposable syringes.This factor impedes the Disposable Syringes market growth.
Disposable Syringes Market Share (%) By Region, 2022
Key Market Players:
Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Disposable Syringes Market. The top 10 companies in this industry are listed below:
- Baxter International Inc. (BD® 60 mL Luer syringes)
- Medtronic plc (i-Port AdvanceTM)
- Fresenius Kabi AG (Amicus® Extracorporeal)
- Terumo Corporation (PLAJEX™ COP, Safe'n'Sound®)
- B. Braun SE (Original Perfusor® Syringes, Omnifix® Lock)
- Becton, Dickinson and Company. (Ultra-Fine™, Safety-Glide™)
- Novo Nordisk A/S (FlexPen®, NovoPen® 5)
- Retractable Technologies, Inc. (VanishPoint®, Patient Safe®)
- Henke-Sass, Wolf GmbH (HSW HENKE-JECT®– two-part, HSW HENKE-JECT® Insulin)
- Nipro Corporation (Dual chamber bags PLW®, Pre-filled syringes [PFS®])