Disposable Syringes Market (2019-2027)

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2. DISPOSABLE SYRINGES MARKET ANALYSIS (2019-2027) • Disposable Syringes Market, 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) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

3. Disposable syringes are usually composed of plastic polymeric materials and contain graduated marks, indicating the volume of fluid in syringes. These syringes are rapidly replacing longstanding conventional glass syringes due to their availability in the form of sterilized units and cost effectiveness. • The global disposable syringes market is estimated to account for US$ 11,413.7 Mn in terms of value by the end of 2027.

4. Global Disposable Syringes Market: Drivers • Increasing manufacturing and demand for injectable drugs is expected to propel growth of the global disposable syringes market over the forecast period. For instance, in March 2020, Xellia Pharmaceuticals, a specialty pharmaceutical company, received the U.S. Food and Drug Administration (FDA) approval to commence manufacturing of aseptic injectable at its Cleveland, Ohio site.

5. Moreover, increasing prevalence of chronic diseases is also expected to aid in growth of the market. For instance, according to the American Cancer Society, in 2019, there will be an estimated 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths in the U.S. Statistics: • North America held dominant position in the global disposable syringes market in 2019, accounting for 44.5% share in terms of value, followed by Europe and Asia Pacific, respectively

6. Figure 1: Global Disposable Syringes Market Share (%) in Terms of value, By Region, 2019

7. Global Disposable Syringes Market: Restraints • R&D of formulations that enable oral delivery of injectables is expected to hinder growth of the market. For instance, in April 2020, i2O Therapeutics, Inc., a startup, developed and patented a technology that enables oral delivery of therapeutics traditionally delivered intravenously. • Moreover, increasing concerns over medical waste accumulation is also expected to limit growth of the market. For instance, according to the National Bureau of Statistics of China, Over 2 million tons of medical waste were produced in China in 2018.

8. Global Disposable Syringes Market: Opportunities • Increasing demand for automatic retractable syringes is expected to offer lucrative growth opportunities for players in the market. Automatic retractable syringes prevent needlestick injuries and increase safety in waste disposal. • Moreover, increasing geriatric population is also expected to aid in growth of the market. For instance, according to the U.S. Census Bureau, the U.S. geriatric population is expected to reach 77 million by 2034.

9. Figure 2: Global Disposable Syringes Market Value (US$ Mn), 2016 - 2027 • The global disposable syringes market was valued at US$ 6,514.7 Mn in 2019 and is forecast to reach a value of US$ 11,413.7 Mn by 2027 at a CAGR of 7.6% between 2020 and 2027.

10. Market Trends/Key Takeaways • The current COVID-19 pandemic has, in general, stressed on the use of single-use plastics and disposable syringes in the healthcare sector. New and single-use products are more hygienic and aid in preventing infectious diseases. However, widespread use of plastics and disposable products also increases biowaste. Such scenario has given rise to a major debate over the use of disposables in the healthcare sector.  • High prevalence of needlestick injuries in emerging economies is expected to aid in growth of the global disposable syringes market. For instance, according to an Environmental Health and Preventive Medicine study published in August 2019, the prevalence of needlestick injuries among the Ethiopian healthcare workers was 28.8% and 43.6% for the 12 months and lifetime, respectively.

11. Global Disposable Syringes Market: Competitive Landscape • Major players operating in the global disposable syringes market include, B. Braun Melsungen AG, Becton, Dickinson & Company, CODAN MedizinischeGeräte GmbH & Co KG, Gerresheimer AG, Covidien plc (Medtronic plc), Retractable Technologies, Inc., Star Syringe Ltd., Smiths Medical, Terumo Corporation, and Sulzer Ltd.

12. Global Disposable Syringes Market: Key Developments  • Major players in the market are focused on launching new products to expand their product portfolio. For instance, in October 2019, Becton, Dickinson and Company launched BD Intevia 1mL two-step disposable autoinjector, a platform device combining autoinjector and pre-fillable syringe in one integrated system. • Major players in the market are focused on R&D in sustainable use of plastics. For instance, in January 2020, Sulzer Ltd. presented various technologies that enable a circular economy of plastic.

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