Product launches, company expansions and partnerships, the rising cases of chronic illnesses, rise in awareness about health

NEW YORK , NEW YORK, UNITED STATES, September 14, 2021 /EINPresswire.com/ -- According to the current analysis of Reports and Data, the Disposable Syringes Market was valued at USD 7,969.2 Million in 2020 and is expected to reach a value of USD 12.13 Billion by 2028, and register a CAGR of 5.30%. The market is mainly driven by the rising incidence of chronic illnesses requiring injections, advancement of technology, incorporation of IT within the healthcare industry, high amounts of investment, and improved R&D efforts. A disposable syringe is a small, simple piston pump based medical tool used to administer injections of intravenous drugs into the bloodstream, or to draw a blood sample from a patient’s body.

Disposable syringes are used for various applications, most popular being, blood recovery, insulin injections, vaccinations, and anesthesia applications. There are various types of syringes that can be used by the medical profession as per the demand of the situation. Medication through disposable syringes is the best way to avoid infection. Unsafe safety practices such as reuse of syringes account for most of the infections, especially if not properly sanitized. Unsterilized needles are particularly a safety concern in poor or undeveloped areas where injections aren’t usually given the guidance of a medical professional. Therefore, disposable syringes are advised over reusable needles for any injection to prevent the risk of blood-borne diseases as it has been contaminated with infected blood.

Earlier, the medication system was not that developed, but in the modern and advanced time, better medication through disposable syringes is possible. It is highly appropriate for the use in immunization by improving the injection safety. The increasing prevalence of chronic ailments requiring subcutaneous administration, convenient and practical approach of equipment handling, predictable amount of drug to be delivered parentally, improved medical diagnosis, technical advancements in medical tools and equipment, increasing awareness among people, increase in diabetic population are anticipated to boost the market growth. However, the rise in environmental concern has led to the formation of strict regulations and norms. Disposable syringes can cause serious health hazards if not discarded properly. These are the major restraining factors that may hamper the market.

The report provides a basic overview of the market, including definitions, segmentation, drivers, constraints, opportunities, threats, challenges, investment opportunities, and industry chain structure. This market analysis also considers development trends, competitive landscape analysis, and key regions development status. Development policies and plans are discussed, as well as cost structures are also analyzed. This report also shows supply and demand Figures, cost, price, revenue, and gross margins.

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Technological advancements and rapid digitization have streamlined the daily operations of the pharmaceutical industry. Increasing spending on medicine due to growing geriatric populace, rising incidence of chronic diseases, increasing number of product launches, and growing number of R&D activities are some key factors contributing to revenue growth of the market. Increasing focus on patient engagement solutions, rising focus to cater to growing unmet clinical demand, adoption of advanced technologies to streamline workflows in healthcare sector, and availability of skilled healthcare professionals has been positively impacting the pharma & healthcare industry. The emergence of COVID-19 pandemic has further increased focus on healthcare facilities, teleconsultation and telemedicine, and increased burden on the healthcare industry compelling governments and companies to invest heavily to cater to the growing global demand.

Further key findings from the report suggest

• Disposable Syringes market is growing at a CAGR of 6.6% in Asia Pacific followed by North America and Europe, with 5.5% and 5.3% CAGR, respectively. The growing incidences of chronic illness that require injections is the key factor that accelerates the market growth during forecast period across all regions

• As of 2018, the safety syringe segment dominates the market holding a whopping 3% market share because safety measures associated with disposable syringes are high so as to the prevent the contact of contaminants and the skin.

• The specialized syringe segment is expected to be the fastest growing market segment during forecast period 2019-2026 with a CAGR of 7.8%.

• Based on end use, hospitals held the largest market share holding over 66.5% of the market in 2016 because of the frequent usage of needle and syringes by medical practitioner for drug administration and significant increase in the diseases.

• North America is the highest revenue generator holding a market revenue share of 47.1% in 2018 due to the presence target diseases, rising self-management awareness, and extensive research and development activities conducted within the region

• Europe held a 25.6% share of the global Disposable Syringes market in 2018, due to increased focus on health and increased demand for Botox in cosmetic surgery in the region.

• Various limitations like strict regulation on the disposal of plastic and bio hazardous waste is likely to hinder the market growth during the forecast period.

• Key participants Braun Medical, Inc.; Fresenius Kabi AG;Baxter International, Inc.; Flextronics International Vita Needle Company; Terumo Corporation; Novo Nordisk; UltiMed, Inc. ;Henke-Sass, Wolf; Covidien; Retractable Technologies, Inc.; and Becton, Dickinson and Company

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Segments Covered in this Report

This report predicts revenue growth and CAGR at a global, regional & country level, and analyzes the markets by studying the drivers, constraints, opportunities, threats, challenges, Investment opportunities, products, uses, trends, market shares in each of the sub-segments from 2018 to 2028. For the purpose of this study, Reports and Data have segmented the global Disposable Syringes market report based on product type, application, end use and region:

Product type Outlook (Revenue, USD Million; 2018-2028)

• General Syringes
• Specialized Syringes
• Safety Syringes
• Pre-filled Syringes
• Others

Application Outlook (Revenue, USD Million; 2018-2028)

• Immunization Injections
• Therapeutic Injections

End Use Outlook (Revenue, USD Million; 2018-2028)

• Hospitals
• Blood collection centers
• Diabetic centers
• Veterinary Clinics
• Others

Region analysis Covers:

• North America (U.S.A., Canada, Mexico)
• Europe (U.K., Italy, Germany, France, Rest of Europe)
• Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

In conclusion, the report offers a comprehensive analysis of the factors expected to drive the global Disposable Syringes market growth over the forecast period of 2021-2028. The report is an all-inclusive document covering the market landscape and a futuristic perspective on its growth and progress. The report also provides an analysis of the entry-level driving and restraining factors for the new entrants contributing to the market. The report also offers strategic recommendations to the established players as well as new entrants to help them gain a strong foothold in the market.

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