DUBLIN--(BUSINESS WIRE)--The "Disposable Syringes Market Size, Share & Trends Analysis Report by Product (Conventional Syringes, Safety Syringes), by Application (Immunization Injections, Therapeutic Injections), by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The global disposable syringes market size is anticipated to reach USD 22.81 billion by 2030, registering a CAGR of 6.12%
The market is expected to expand due to the increasing adoption of safety syringes, technological advancements, increasing demand for vaccines along with growing adoption of self-administration of drugs are supporting the market growth of disposable syringes.
The COVID-19 pandemic has resulted in a significant surge in demand for emergency supplies, medical disposables, medicines, and hospital equipment. As a result of COVID-19, there has been an increase in the production of COVID-19 vaccines, resulted in rise in demand for disposable syringes.
In January 2020, in the U.S alone, the Biomedical Advanced Research and Development Authority (BARDA) projected that 650 million to 850 million needles and syringes would be required to administer a vaccination. This in turn, positively impacted the market growth and is estimated to continue to be a growth driver.
Moving forward, organizations like United Nations Children's Fund (UNICEF) aimed to purchase 1 billion syringes by the end of 2021 for COVID-19 vaccination operations in COVAX Facility nations.
The syringes will all be of the auto-disable (AD) type, as permitted by the World Health Organization, notwithstanding the fact that the vaccines secured by the Facility may vary in their composition and storage needs. As a result, market growth is expected to accelerate in the near future.
Disposable Syringes Market Report Highlights
- by product, safety syringes accounted for the largest market revenue share of 64.03% in 2021, due to its advantages being easy to use, and eliminating the risk of patient-to-patient transmission of infections.
- Based on the application, the therapeutic injection segment dominated the market with a market revenue share of 51.19% in 2021, owing to the increasing awareness of blood donation and the high prevalence of diseases such as HIV infection, tuberculosis malaria, and dengue in the developing and underdeveloped countries.
- The Asia Pacific dominated the disposable syringe market with the highest revenue share of 31.06% in 2021 due to the presence of a huge aging population base along with the prevalence of chronic diseases in the region.
- The market in the MEA is expected to witness the fastest growth rate at a compound annual growth rate ( CAGR ) of 8.07% over the forecast period. The growth is attributed to the growing geriatric population, an increasing number of surgeries, and rising expenditure on healthcare.
Market Dynamics
Market Driver Analysis
- Global Increase In The Prevalence Of Chronic Diseases
- Increase In The Number Of Surgical Procedures
- Impact Of Covid-19 Outbreak
- Increasing Initiatives by Governments and Organizations
Market Restraints Analysis
- Stringent Government Regulations
- Product Recalls
Disposable Syringes: Market Analysis Tools
- Industry Analysis - Porter's
- SWOT Analysis, by Pest
Impact Of Covid-19 On Market & Post Pandemic Insights
Competitive Analysis
- Medtronic
- Nipro Corporation
- Fresenius Kabi AG
- Baxter International, Inc.
- Braun Medical, Inc.
- Becton, Dickinson and Company (Bd)
- Flextronics International Vita Needle Company
- Terumo Corporation
- Novo Nordisk
- Ultimed, Inc.
- Henke-Sass, Wolf
- Retractable Technologies, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/k6kgjc
