Disposable Syringe Market Size to Reach USD 21.65 Billion in 2030 | Emergen Research

VANCOUVER, BC, Dec. 22, 2022 /PRNewswire/ -- The disposable syringe market size reached USD 13.07 Billion in 2021 and is expected to register a CAGR of 5.8% during the forecast period, according to latest analysis by Emergen Research. Rapid technological advancements in auto-injector syringes, increasing rate of immunization, substantial improvements in syringe manufacturing processes, as well as growing consumer demand from the pharmaceutical industry as well as growing market demand for safety syringes for surgeries are some key factors driving disposable syringe market revenue growth. Disposable syringes made of plastic are used in veterinary and medical research.

Traditional glass syringes are quickly being replaced with disposable ones because they are more frequently available, ready to use, and less expensive. Easily disposable needles are swiftly replacing the long-established glass needles because they are readily available in sterile conditions, ready for use, and cost-competitive. This is advantageous since it results in less waste when more expensive biotech drugs are introduced, especially if some vaccines are hard to come by or very expensive. As a result, disposable prefilled syringes are more in demand than conventional glass vials for the packaging of prescription pharmaceuticals in the medical sector, which is boosting the growth of this market.

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Drivers:

Demand for disposable syringe devices has significantly increased over the years due to market demand for safety syringes for surgeries as well as growing consumer demand from pharmaceutical industry. Modern medicine frequently uses disposable syringes to collect blood, inject medications, and provide immunizations. In an effort to stop the spread of disease, they are frequently used in place of reusable syringes. The administration of local anesthetic by a dentist and the injection of insulin by a diabetic are two frequent applications of disposable syringes.

Disposable syringes are replacing glass syringes due to advantages including crack resistance and protection against damage in transit, as well as because they are readily available in sterilized condition, are economically viable, and are ready for use. The future growth possibilities, consumption patterns, and general outlook for this commodity are all quite favorable, in keeping with the booming pharmaceutical industry and the industry's growing emphasis on highly sterile environments and procedures. This has raised the demand for disposable prefilled syringes for packing prescription drugs in the pharmaceutical industry.

Restraints:

There are some issues and difficulties facing the disposable syringe industry. Despite major investments in the manufacturing of such syringes, the management of increased medical waste is becoming difficult due to increasing waste volume as well as improper disposal processes of disposable syringes and low adoption among patients with fear of syringes are a few factors hindering market revenue growth. Disposal of needles, syringes, lancets, and other medical products is not well controlled in the home and other industries. As a result, regularly discarding home-generated medical waste in the curbside garbage puts sanitation workers and cleaning staff in danger of suffering a needlestick wound, which is hindering the growth of disposable syringe market.

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Growth Projections:

The disposable syringe market is expected to register a CAGR of 5.8% over the forecast period and revenue is projected to increase from USD 13.07 Billion in 2021 to USD 21.65 Billion in 2030. Increasing spending in emerging markets is expected to support revenue growth of the market.

Current Trends and Innovations:

The disposable syringe industry is undergoing gradual change as a result of rapid technological advancements in auto injector syringes as well as growing market demand for safety syringes for surgeries. To date, almost 80 autoinjectors have been produced by more than 20 pharmaceutical companies. Approximately 50 medicines are being developed as combination products for use with autoinjectors. Disposable autoinjectors make up 62% of this. Reusable autoinjectors with various doses are being developed at a remarkable rate.

The necessity of user-friendly gadgets for both emergency use and chronic medical conditions has been highlighted by highly competent advances in the device manufacturing industry. Currently, there are close to 1.3 billion disposable pens with insulin cartridges. Pen devices are quite convenient because of features like a big display, dose adjustment, a geared or spring-driven injection mechanism, and easy cartridge replacement for reusable pens.

Autoinjector syringes have grown in popularity as a practical way to dispense medication due to an easy-to-use activation mechanism designed specifically for patients whose lack of dexterity makes it difficult for them to take medication using a standard syringe, and most autoinjectors are one-use, disposable, spring-loaded syringes. Patients and caregivers are becoming more active in selecting the best treatment option for disposable autoinjector syringes, which is driving this market's revenue growth.

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Strategic Initiatives:

Major companies included in the market report are Braun Medical, Inc., Novo Nordisk, Baxter International, Inc., Fresenius Kabi AG, Becton, Dickinson and Company, Terumo Corporation, Flextronics International Vita Needle Company, UltiMed, Inc., Henke-Sass, and Covidien.

• On 2 December 2020, BD (Becton, Dickinson, and Company), a leading worldwide medical technology company, announced an investment of USD 1.2 billion over four years to strengthen and expand manufacturing capacity and technology for pre-fillable syringes (PFS) and advanced drug delivery systems (ADDS) across its six global manufacturing locations, as well as add a new manufacturing facility in Europe.

Scope of Research

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Emergen Research has segmented disposable syringe market on the basis of type, application, end-use, and region:

• Type Outlook (Revenue, USD Billion; 2019-2030)
• Conventional Syringes
• Safety Syringes
• Retractable Safety Syringes
• Non-retractable Safety Syringes
• Application Outlook (Revenue, USD Billion; 2019-2030)
• Immunization Injections
• Therapeutic Injections
• End-Use Outlook (Revenue, USD Billion; 2019-2030)
• Hospitals
• Diagnostic Laboratories
• Blood Banks
• Pharmaceutical Industry

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