Ottawa, Aug. 19, 2021 (GLOBE NEWSWIRE) -- Ottawa, Aug 19, 2021 (GLOBE NEWSWIRE) –The global disposable syringes market size was valued at US$ 6.38 billion in 2020. Disposable syringes are very common within the healthcare industry. They are relatively inexpensive and easy to mass-manufacture allowing for anadvanced level of availability. Usually speaking, syringes are devices used to insert or draw formulations from a bigger body. Usually functioned via a piston-pump arrangement, they are the chief method by which a clinician or nurse administers medication to the patients. Previously, syringes were cleaned and reprocessed. However, in the modern periods the use-and-throw syringe has increased in popularity over the outdated reusable type of syringe. The prime difference being that a use-and-throw syringe is envisioned for one-time usage and is then thrown away, typically into aninfection unit. While very simple in idea, syringes have numerous variants and fragments which are transposable dependent on the proposed use of the syringe. Usually, these are features which might vary reliant on on the syringe being employed.
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Growth Factors:
Factors such as increasing number of patients at risk of developing stroke, increasing patient awareness, increased health care expenditure, large pool of geriatric population, growing usage of injectable drugs, higher bioavailability of injectable drugs, growing instances of needlestick injuries, increasing cases of chronic disorders such as diabetes and chronic, and increased preference of intravenous route of drug administration are driving the growth of disposable syringes market. Moreover, Additional features that are expected to fuel this businessare integration of latest technologies for disposable syringes and growing investment by major players.
As per WHO (World Health Organization), the number of cancer cases globally reached 19.3 million in the year 2020. With increasing number of cancer cases, the demand for disposable syringes is also growing due to its predominant use in medical care for several cancers like ovarian cancer, breast cancer, non-small cell lung cancer, lung cancer, AIDS related Kaposi’s sarcoma, cervical cancer, prostate cancer, pancreatic cancer, esophageal cancer, stomach cancer, and testicular cancer among others. It is expected that between the years 2018 and 2040, the extent of patients needing first-line chemotherapy worldwide each year will surge 53% that is to 15 million from 9.8 million. The growth in chemotherapy demand will principally be an outcome of population rise and projected variations in the dispersal of cancer types by nation which is expected to boost the requirement for the disposable syringes in the near future.
Report Highlights:
- Among the type segment, safety syringes dominated the overall market in 2020. High use of safety syringes for safe transfer of medications and low-cost difference are the foremost factors attributing to its large market share.
- The therapeutic injections segment accounted for the major share of revenue in the patient type segment with more than 71% share in 2020 due to high use of disposable syringes for the administration of therapeutic medications. Moreover, high incidence of disorders such as malaria, dengue, HIV, tuberculosis, and typhoid are expected to augment the demand for disposable syringes in the near future. Launch of new injectable drugs for the treatment of chronic disorders will play an important role in retaining the market dominance of therapeutic injections over the estimated period.
- Baxter International, Inc., Becton, Dickinson and Company, and Novo Nordisk accounted for a significant share of the global disposable syringes market.
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Regional Analysis:
The report includes information for Asia Pacific, North America, Latin America, Europe, Middle East, and Africa. In 2020, the North America dictated the globalindustry with a market stake of greater than 41%. The U.S. indicated the highest slice in North America principally due to increasing cases of cancer and early adoption of latest healthcare equipment’s. Moreover, availability of latest healthcare infrastructure also supported the high market portion of North America.
Europe was the subsequent significant market chiefly due to presence of skilled physicians. Presence of major companies in the European region is also expected to lift the demand for disposable syringes in the anticipated time-span. The Asia Pacific region is projected to grow at the highest CAGR of around6.9% in the estimate period due to increasing healthcare expenditure. Latin America and Middle East and African region will display noticeable growth.
Key Market Players and Strategies:
The key companies functioning in the worldwide disposable syringes market are Fresenius Kabi, Covidien, Becton, Dickinson and Company, Flextronics International, Braun Medical, Inc., Novo Nordisk, Vita Needle Company, Baxter International, Inc., Retractable Technologies, Inc., UltiMed, Inc., Henke-Sass, Wolf, and Terumo Corporation among others.
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Increased expenditure on research and progress along with acquisition, collaborations, and mergers are the significant strategies taken up by producers working in the international disposable syringes market. Moreover, leading companies are investing heavily on research for the development of new treatment techniques. Strategic associations in terms of authorizing and collaboration, allow businesses to co-develop and commercialize formulation. Companies have been investing in the discovery and R&D of medication given for disposable syringes.
Major Market Segments Covered:
By Type
- Conventional Syringes
- Safety Syringes
- Retractable Safety Syringes
- Non-retractable Safety Syringes
By Application
- Immunization Injections
- Therapeutic Injections
By Geography
North America
- U.S.
- Canada
Europe
- Germany
- France
- United Kingdom
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of Middle East & Africa
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