Portland, OR, Nov. 03, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the India disposable syringes market was estimated at $148.00 million in 2020 and is expected to hit $385.5 million by 2030, registering a CAGR of 10.3% from 2021 to 2030. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends.
Rise in prevalence of needle stick injuries, surge in healthcare expenditure, favorable government initiatives, and increase in the incidence of chronic conditions and infectious diseases drive the growth of the India disposable syringes market. On the other hand, high cost of disposable syringes and availability of alternative modes of delivery restrain the growth to some extent. Nevertheless, high growth potential in India is expected to create lucrative opportunities in the industry.
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What is the Impact of COVID-19 on Disposable Syringes Market in India?
- As the pandemic has resulted in an increase number of studies for the development of vaccines to cure and prevent the spread of the disease, there’s been a steep rise in demand for disposable syringes that are used in administration of vaccination.
- Till date, more than millions of patients have taken vaccines using disposable syringes. Manufacturers have also amplified their production capacities to cater to the rising requirements for the syringes.
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The India disposable syringes market is analyzed across product type, application, and end user. Based on product type, the safety disposable syringes segment contributed to nearly three-fifths of the total market share in 2020, and is anticipated to lead the trail by the end of 2030. The same segment would also register the fastest CAGR of 10.7% during the forecast period.
Based on end user, the hospital segment accounted for around one-fourth of the total market revenue in 2020, and is expected to dominate by 2030. The diagnostic segment, however, would cite the fastest CAGR of 10.5% throughout the forecast period.
Based on application, the immunization injections segment held more than two-thirds of the total market share in 2020, and is projected to maintain the lion’s share by 2027. The same segment would also exhibit the fastest CAGR of 11.2% from 2021 to 2030.
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The key market players analyzed in the India disposable syringes market report include Albert David, Baxter International India Pvt. ltd., B. Braun Medical India Pvt. ltd., Becton, Dickinson India Pvt. ltd., Cardinal Health India Pvt. ltd., Hindustan Syringe and Medical Co. Ltd, Nipro Medical Corporation India Pvt. ltd., Novo Nordisk India Pvt. ltd., Terumo Corporation India Pvt. ltd. and Teleflex Medical Pvt. ltd. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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