Disposable Syringes Market Expected to Reach USD 7.5 Billion Globally in 2022: Transparency Market Research
According to a new market report published by Transparency Market Research “Disposable Syringes Market (safety and conventional syringes): Global Industry Analysis, Size, Volume, Share, Growth, Trends and Forecast, 2014 – 2022”, the global disposable syringes market was valued at USD 4.9 billion in 2013 and is expected to expand at a CAGR of 4.9% from 2014 to 2022 to reach USD 7.5 billion by 2022.
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Disposable syringes are usually made of plastic polymeric materials and have graduated marks indicating the volume of fluid in syringes. These syringes are rapidly replacing longstanding conventional glass syringes due to their availability in pre-processed sterilized units and low cost. Demand for disposable syringes is rising due to continuous growth in the injectable drugs market coupled with increasing cases of needlestick injuries caused due to unsafe injection practices. There has been a rapid growth in the number of biologics and other potent and complex molecules being approved for marketing. Major hospitals, diagnostic centers, and general practitioners (GP) are increasingly using disposable syringes for drug delivery, as these offer better handling, less overfill, and better safety to patients. According to the World Health Organization (WHO), unsafe injection practices lead to deaths of an estimated 1.5 million people every year globally. Re-using, sharing, and improper disposal of syringes could lead to transmission of life-threatening blood-borne pathogens such as HIV, hepatitis B and hepatitis C. Such serious consequences of needlestick injuries can be prevented by using disposable syringes. Disposable syringes outfitted with safety features are designed to prevent needlestick injuries and infections.
The disposable syringes market has been segmented into safety syringes and conventional syringes. Safety syringes have been further categorized into automatic retractable, manual retractable and non-retractable safety syringes. Conventional syringes have been classified into syringes without needles and syringes attached with needles. Conventional syringes account for larger share in terms of revenue and volume of the disposable syringes market. However, the safety syringes segment is projected to expand at a higher CAGR than the conventional syringes segment.
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Geographically, the disposable syringes market has been segmented into five regions: North America, Europe, Asia Pacific, Latin America, and Rest of the World (RoW). North America was the largest market for disposable syringes in 2013, followed by Europe. The region is witnessing a paradigm shift in adoption of disposable syringes, mainly due to factors such as needlestick injuries, governmental legislation, and burgeoning usage of syringes across the region. According to the Centers for Disease Control and Prevention (CDC), around 385,000 needlestick injuries are reported in the U.S. every year. Needlestick injuries could lead to transmission of blood-borne diseases such as HIV, hepatitis B, and hepatitis C. Therefore, health care professionals prefer safety syringes to traditional syringes. This in turn drives market growth. The U.S. Needlestick Safety and Prevention Act introduced on November 6, 2000, has been instrumental in driving the growth of the disposable syringes market in North America.
Europe was the second largest market in 2013. In the past few years, Western Europe (Germany, the U.K., France, and Italy) has witnessed relatively higher adoption of safety syringes than Eastern Europe. However, the disposable syringes market in Eastern Europe is anticipated to grow at a relatively high CAGR during the forecast period from 2014 to 2022 due to the growing economy and high adoption of disposable syringes. Growing interest of syringe manufacturers in emerging markets is expected to drive the growth of the disposable syringes market in Asia Pacific and Rest of the World (RoW). Moreover, increased penetration by companies based in the U.S. and other western countries is likely to drive the growth of the safety syringes market in the region. For instance, Unilife Corporation and Stason Pharmaceuticals signed a contract for the distribution of Unitract (TM) 1mL safety syringes in Japan, China, and Taiwan. Furthermore, factors such as improving health care infrastructure rise in awareness level, and flexible regulatory requirements are fueling the growth of the disposable syringes market in emerging economies in Asia Pacific and Rest of World (RoW) such as India, China, and South Africa.
Key players operating in the global disposable syringes market include B. Braun Melsungen AG, Becton, Dickinson & Company, Covidien plc (Medtronic plc), Codan Medizinische Geräte GmbH & Co. KG, Gerresheimer AG, Retractable Technologies, Inc., Smiths Medical, Star Syringe, Terumo Corporation, and Unilife Corporation.
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