Press release
Disposable Syringes Market Expected to Reach $15.74 Billion by 2033, Growing at a 6.6% Rate
Disposable Syringes Global Market Report 2024
The Business Research Company presents an extensive market research report on the Disposable Syringes Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The disposable syringes market size has grown strongly in recent years. It will grow from $11.44 billion in 2023 to $12.21 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to hiv/aids epidemic, increased vaccination programs, rise of biotechnology and pharmaceutical industries, prevalence of chronic diseases, global population growth.
The disposable syringes market size is expected to see strong growth in the next few years. It will grow to $15.74 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to awareness of bloodborne infections, focus on patient safety, integration of digital health technologies, regulatory emphasis on single-use devices, global health initiatives. Major trends in the forecast period include advancements in injection technologies, technological innovations in material sciences, focus on sustainable healthcare, innovations in needle safety, 3d printing in syringe manufacturing.
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Key Market Players:
Major companies operating in the disposable syringes market report are Nipro Corporation, Cardinal Health Inc., Fresenius Kabi AG, Medtronic plc, Novo Nordisk AS, Becton Dickinson & Company Ltd., Baxter Pharmaceutical Solutions LLC, B. Braun Melsungen AG, Terumo Corporation, ICU Medical Inc, Gerresheimer AG, Pisa Pharmaceuticals Company, Shanghai Kindly Enterprise Development Group Co. Ltd., Jiangxi Sanxin Medtec Co.Ltd., Henke Sass Wolf Medical Instruments (Qingdao) Ltd, Retractable Technologies Inc, CODAN Medizinische Geräte GmbH & Co KG, UltiMed Inc., Sol-Millennium Medical Inc., Unilife Corporation, Vita Needle Company, Jiangsu Jichun Medical Devices Co. Ltd., Exelint International Co., ISCON Surgicals Ltd., Shanghai Kohope Medical Co Ltd., Star Syringe Ltd., Injex Industrias Cirurgicas Ltda, Feel Tech Bio.Co. Ltd., Hindustan Syringes & Medical Devices Ltd, Liaoning Kangyi Medical Equipment Co. Ltd
Market Drivers:
Rising incidences of chronic diseases are expected to propel the growth of the disposable syringes market going forward. A chronic disease is a form of illness that lasts three months or more and can deteriorate with time, such as diabetes. Disposable syringes provide a safer way of drug administration and are widely used for various chronic diseases, primarily for diabetes patients who are undergoing treatment. For instance, in January 2023, according to the National Library of Medicine, a US-based agency, the number of people in the US aged 50 and older who have at least one chronic condition would increase by 99.5%, from 71.522 million in 2020 to 142.66 million by 2050. Therefore, the rising incidences of chronic diseases are driving the growth of the disposable syringes market.
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The disposable syringes market covered in this report is segmented -
1) By Type: Conventional Syringes, Safety Syringes
2) By Application: Immunization Injections, Therapeutic Injections
3) By End User: Hospitals, Diagnostic Laboratories, Blood Banks, Pharmaceutical Industry
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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