San Francisco, CA — (SBWIRE) — 09/24/2020 — Disposable plastic syringes were introduced as an alternative to glass hypodermic needles. Post this innovation, these have been utilized in healthcare facilities worldwide to administer drugs to countless patients. These syringes are available in a variety of volumes, and can be used to give drugs via the intra-venous, intra-muscular or intra-dermal routes, among others. A major concern is their disposal which poses an environmental impact. This is ill conversant with the current demand for sustainable development.
However, as healthcare infrastructure is rising globally in response to the ever increasing demand for good patient care and increase in chronic illnesses, drug administration properly is gaining prominence. It is a very basic process in any healthcare setting, and disposable syringes are an integral part. Events like the current COVID-19 pandemic make the market for disposable syringes more lucrative to invest in the future (2019 to 2029), states TMRR.
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Global Disposable Syringes Market: Competitive Landscape
Manufacturers of these syringes understand the increase in demand for disposable syringes and are working to cater to the same in the current healthcare crisis. The presence of a large number of manufactures makes this market fragmented. Some of these key players are:
Braun Medical, Inc.
Fresenius Kabi AG
Baxter International, Inc.
Flextronics International Vita Needle Company
Retractable Technologies, Inc.
Becton, Dickinson and Company
Mergers with smaller production facilities and increasing market outreach via advertising will bear fruit for these manufactures in the future. Further, innovations to deal with the environmental impact of disposable syringes are being funded by these sector players.
Global Disposable Syringes Market: Key Trends and Drivers
The healthcare sector is expanding to cater to global demands. The global healthcare industry was worth 8.45 trillion USD in 2018. Global healthcare spending is expected to rise at a steady rate from 2019-2023. Since drug delivery is one basic procedure followed in even the most primary healthcare centers, the disposable syringes market should grow steadily in the future.
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Clinical trials are increasing globally to deal with traditional as well as new disease processes. In the United States, 60% of these trials are testing for biological drugs, which are therapeutic solutions derived from organic sources. These are often used in chronic diseases. Given that 57% of the world’s population would be affected by one of many chronic illnesses by 2050, drug administration is due to increase in the future. This bodes well for the disposable syringes market.
The current COVID-19 pandemic is challenging healthcare settings globally, with a rush for supplies being made at all levels of this industry. An absence of definite protocols for this condition makes multiple drug administration necessary on a case to case basis, increasing consumption of resources. Even as a vaccine is secured for this condition, administration will require a robust system capable of handling potentially the global population. The disposable syringe market is therefore set to grow in the future owing to this.
Global Disposable Syringes Market: Regional Analysis
North America and Europe are currently global leaders in the disposable syringe market owing to the presence of a robust healthcare infrastructure and an increasingly geriatric population that needs treatment for numerous chronic illnesses. Moreover, most manufactures of these syringes are based in Europe, making regional supply easier.
The Asia Pacific region (APAC) is due to register the fastest growth in this market given the rise in healthcare spending and innovations in this region. Pharmaceutical industry and healthcare product manufacturing are increasing in these regions. Drug trials are set to follow suit and demand more disposable syringes in the future.
Retractable Safety Syringes
Non-retractable Safety Syringes
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