Global Disposable Syringes Market, By Product Type (Safety Syringes (Automatic Retractable, Manual Retractable, Non-retractable), and Conventional Syringes (Syringes without Needle, Syringes with Needle)), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) is estimated to be valued at US$ 8.8 Billion in 2023 and is expected to exhibit a CAGR of 6.6% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
The key market players are focused on adopting growth strategies such as acquisition and partnerships, which will drive the global disposable syringes market growth. For instance, in October 2022, BD (Becton, Dickinson and Company), a global medical technology company, and Biocorp, a medical device and delivery systems manufacturer based, announced that they have signed an agreement with the aim of using connected technology to track adherence for self-administered drug therapies, such as biologics. To support biopharmaceutical companies in their efforts to improve the adherence and outcomes of injectable drugs, the two companies will integrate Biocorp’s Injay technology–a solution designed to capture and transmit injection events using Near Field Communication (NFC) technology – to the BD UltraSafe plus Passive Needle Guard used with prefillable syringes.
Global Disposable Syringes Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regard to the transportation of drugs from one place to another.
COVID-19 had a positive impact on the global disposable syringes market. With some COVID-19 vaccines being released under Emergency Use Authorization by regulatory bodies, the challenge now is having enough doses to serve the market. For instance, in January 2021, according to the Biopharm International Journal, there is increase in manufacturing capacity target vial and syringe shortages, due to which increase in the manufacturing have been implemented for vials and syringes, meeting future market needs remains unpredictable due to the rise in the usage of syringes and vials in the pandemic, which states that there is positive impact of COVID-19 on syringe market.
Global Disposable Syringes Market: Key Developments
In November 2021, ProcureNet Limited, a global supplier of pharmaceutical materials and vaccines consumables, signed an MOU (Memorandum of Understanding) aiming to help vaccinate 2 billion people next year through its vaccination supply network which will include Anhui Tiankang Medical, a hi-tech medical instrument company which focuses on the research, development and manufacturing of surgical medical devices. ProcureNet aims to start 2022 as strongly as it finished 2021, which follows on from their successful partnerships with many global leading organizations like UNICEF (United Nations International Children's Emergency Fund), PAHO (Pan American Health Organization) and Health Canada.
In November 2020, Cumberland Pharmaceuticals Inc., a U.S. specialty pharmaceutical company, announced the launch of RediTrex (methotrexate) injection. RediTrex is a new line of pre-filled syringes specifically designed for ease of handling and dosing accuracy for the subcutaneous administration of methotrexate in patients with arthritis and psoriasis.
In May 2022, BD (Becton, Dickinson and Company) a global medical technology company, and Mitsubishi Gas Chemical Company, Inc., a R&D-oriented chemical manufacturer based in Tokyo, Japan, announced that they have entered into an agreement to investigate further development of OXYCAPT, an innovation from MGC that integrates the best of plastic and glass for plastic syringes.
Browse 32 Market Data Tables and 23 Figures spread through 185 Pages and in-depth TOC on “By Product Type (Safety Syringes (Automatic Retractable, Manual Retractable, Non-retractable), Conventional Syringes (Syringes without Needle, Syringes with Needle)), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa).
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https://www.coherentmarketinsights.com/market-insight/disposable-syringes-market-3778
Key Takeaways of the Global Disposable Syringes Market:
- The global disposable syringes market is expected to exhibit a CAGR of 5% during the forecast period. The collaboration with emerging economies offers lucrative growth opportunities for players in the global disposable syringes market.
- Among Product Type, the safety syringe segment is expected to hold a dominant position in the global disposable syringes market during the forecast period and this is attributed to the increase prevalence of chronic diseases. For instance, in February 2020, according to WHO, Cancer is a leading cause of death worldwide, approximately 400 000 children develop cancer and overall accounting for nearly 10 million deaths in 2020, or nearly one in six deaths.
- Among region, North America is expected to be the dominant region in the global disposable syringes market, owing to the increasing prevalence of chronic diseases such as cancer, diabetes, and cardiovascular diseases are driving the demand for the utilization of safety needles. Patients with chronic diseases often require frequent injections of medication, which increases their risk of needlestick injuries and exposure to blood borne pathogens. Safety needles are designed to reduce the risk of accidental needlestick injuries by incorporating features such as retractable needles, shields, and safety mechanisms. Overall, the increasing prevalence of chronic diseases is driving the demand for safety needles as a means of reducing the risk of needlestick injuries and blood borne pathogen exposure in both patients and healthcare workers. For instance, on January 11, 2023, MTD Group, a medical devices company, announced the U.S. FDA clearance obtained by its affiliate Pikdare S.p.A. for DropSafe Sicura passive safety needle for the intramuscular and subcutaneous injection of vaccines and other drugs. DropSafe Sicura is designed to eliminate needlestick injuries providing a fully safe injection experience. The needle is protected by a transparent shield which automatically locks after injection, requiring no incremental activation step by the HCP post-injection.
- Major players operating in the global disposable syringes market include Braun SE, BD (Becton, Dickinson and Company), CODAN Medizinische Geräte GmbH, Gerresheimer AG, Medtronic, Retractable Technologies, Inc., Star Syringe Limited, ICU Medical, Inc., Terumo Corporation, and Sulzer Ltd.
