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Disposable Syringes Global Market Analysis, Trends, Growth, Research And Forecast 2033
Disposable Syringes Global Market Analysis
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According to The Business Research Company's, 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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Market Drivers and Trends:
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.
Product innovation is the key trend gaining popularity in the disposable syringe market. Major companies operating in the disposable syringe market are developing innovative treatments to sustain their position in the market. For instance, in September 2021, Becton Dickinson and Company, a US-based medical device company, launched the BD Intevia 1 mL two-step disposable autoinjector. It is a platform device that combines a pre-fillable syringe and an autoinjector into one integrated system. The BD Intevia disposable autoinjector is a 2-step push-on-skin device that injects drugs of different fill volumes of up to 1 mL and different viscosities up to 35 cP safely and effectively. The unique design of BD Intevia 1 mL allows pharmaceutical companies to adopt it for a variety of drugs.
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Major Key Players of the Market:
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
Disposable Syringes Market 2024 Key Insights:
• 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%.
• Increasing Incidence Of Chronic Diseases Boosts Growth In Disposable Syringes Market
• Advancements In Needle Technology Drive Progress In Disposable Syringe Market
• North America was the largest region in the disposable syringes market in 2023
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