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Disposable Syringes Market To Generate Revenue Of USD 9.9 Billion By 2024: Grand View Research, Inc.

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Disposable Syringes Market To Generate Revenue Of USD 9.9 Billion By 2024: Grand View Research, Inc.

October 18
10:52 2019
Disposable Syringes Market To Generate Revenue Of USD 9.9 Billion By 2024: Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research,The disposable syringes market is expected to grow due to growing demand for injectable drugs. Development of self-injection devices & long-acting formulations with high efficacy and lower adverse effects are major reasons for increasing demand of injectable formulations.

According to a report, “Disposable Syringes Market Analysis By Type (Conventional Syringes, Safety Syringes), By Application (Immunization Injections, Therapeutic Injections) By Region (North America, Europe, Asia Pacific, Latin America, MEA), And Segment Forecasts, 2018 – 2024”, published by Grand View Research, Inc.,

The global disposable syringes market is expected to reach a value of USD 9.9 billion by 2024, according to a new report by Grand View Research, Inc. The market growth can be attributed to the rising initiatives by government and various NGOs to raise awareness about safe drug delivery to patients in order to avoid transmission of infections and avoid needle stick injuries to healthcare workers, especially in low-income countries.

Organizations such as WHO and UNAIDS are constantly working for this cause. Some of their programs include needle and syringe program and targeted information for drug abusers. The results of these initiatives are evident. For instance, in China, the incidence of HIV/AIDS amongst people who are drug abusers dropped from 2.5 to 0.6 cases per 100 person-years.

Major disposable syringe manufacturers are introducing new products, which is also further augmenting the market growth. In January 2016, Novo Nordisk launched Tresiba, a long-acting insulin degludec injection to treat diabetes. It was initially launched in U.S. and will further target the rest of the market.

Some of the key industry players are Braun Medical, Inc.; Fresenius Kabi AG; Baxter International, Inc.; Terumo Corporation; Novo Nordisk; Covidien; Retractable Technologies, Inc.; and Becton, Dickinson, and Company.

U.S. disposable syringes market share, by type, 2013 – 2024 (USD Million)

Asia Pacific fuel dispenser market

Further Key Findings from the Study Suggest:

  • Safety syringes dominated the product segment in 2015 as they provide long-term cost advantage in comparison to the traditional syringes and thus are preferred by healthcare professionals.

  • Therapeutic injections dominated the application segment in 2015 due to the extensive use of injectable drugs in treatment of high prevalence diseases such as HIV, Hepatitis B & C, and diabetes coupled with increasing rate of volunteer blood donations are few reasons for high demand of infusion devices across the globe.

  • Africa does not have established production systems, thus is considered a high potential market.

  • In 2015, North America dominated due to approval of injectable drugs. For instance, in July 2015, the U.S. FDA approved Praluent (alirocumab) which is the first injectable from PCSK9) inhibitors class.

  • The industry has witnessed few major acquisitions. In 2015, Covidien was acquired by Medtronic, Inc in USD 42.9 billion. Moreover, new product development is also on a rise in the industry.

Application Insights

Therapeutics segment dominated in 2015 due to the growing demand of injectable to treat diseases. According to the WHO, around 90% products are used for therapeutic care. Treatment of diabetes by delivering insulin comprises a large share in therapeutic injections. High prevalence of diseases such as HIV infection, malaria, tuberculosis, and dengue results in high consumption of injections, which are used in diagnosis and treatments of these diseases.

Global disposable syringes market by application, 2015

Global disposable syringes marketIntroduction of new injectable drugs is also expected to augment the industry growth. In August 2015, CytoDyn, Inc. announced the initiation of a clinical trial of their injectable HIV drug. This injectable was expected to replace the daily antiretroviral pill dose with once-a-week injection, thus improving the quality of life of the 33 million people living with AIDS. The success of this drug would provide a great opportunity for growth to the disposable syringe market over the forecast period.

Regional Insights

In 2015, North America emerged as one of the largest regional market. High prevalence of diseases and increasing preference for injectable drugs are the key factors influencing industry growth. Major disposable syringe manufacturers are also contributing by introducing new products and technologies for improved patient comfort and safety.

Ask Our Industry Expert for More Details on Report – https://www.grandviewresearch.com/inquiry/1025/ibb

In October 2015, B Braun scheduled launch of its echogenic peripheral nerve block needle technology, the Stimuplex Ultra 360. The launch was to be presented in the American Society of Anesthesiologists Annual Meeting, 2015.

Europe hosts headquarters of some of the industry titans such as B Braun, Fresenius Kabi, Covidien (Medtronic, Inc), and Novo Nordisk. European governments have mandated the use of safety engineered devices in healthcare facilities. Moreover, the U.S. Pharmacopeia Convention and the European Pharmacopeia Convention are two key organizations that set high standards for the safety of patients and healthcare workers. Furthermore, the regulatory bodies keep a regular eye on marketed products.

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Grand View Research has segmented the disposable syringes market by type, application and region:

Global Type Outlook (Market revenue in USD Million, 2013 – 2024)

  • Conventional syringes

  • Safety syringes

    • Retractable safety syringes

    • Non-retractable safety syringes

Global Application Outlook (Market revenue in USD Million, 2013 – 2024)

  • Immunization injections

  • Therapeutic injections

Regional Outlook (Market Revenue in USD Million, 2013 – 2024)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

  • Asia Pacific

    • Japan

    • China

    • India

  • Latin America

    • Brazil

    • Mexico

  • Middle East and Africa

    • South Africa

Explore the BI enabled intuitive market research database, Navigate with Grand View Compass, by Grand View Research, Inc.

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

 

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