SEATTLE, April 30, 2020 (GLOBE NEWSWIRE) -- Disposable syringes are used in conjunction with hypodermic needles to inject or remove liquids from the body. Medical syringes can be used to administer liquid medicine without the use of a needle.
Statistics:
The global disposable syringes market is estimated to account for US$ 11,413.7 Mn in terms of value by the end of 2027.
Market Drivers:
Increasing prevalence of chronic disorders is expected to propel growth of the global disposable syringes market over the forecast period. For instance, according to Alzheimer’s Association, around 5.8 million people in the U.S. aged 65 and older are living with Alzheimer's dementia in 2020.
Moreover, increasing adoption of disposable syringes is also expected to aid in growth of the market. For instance, in April 2020, Ministry of Health, Government of Turkey, opened tender buy disposable syringes.
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Market Opportunities:
Use of disposable syringes in bioassay platforms is expected to offer lucrative growth opportunities for players in the global disposable syringes market. For instance, in October 2018, researchers from University of California, U.S., reported development of a disposable plastic syringe-based platform for automation of a colorimetric malaria-Ab assay.
Moreover, R&D of novel technologies for production of disposable syringes is also expected to aid in growth of the market. For instance, in September 2019, Waldorf Technik, a subsidiary of the Hahn Group, demonstrated a newly developed automation system that allows molders of disposable syringes to print directly on cylinders using the system’s digital printing processes, at K Trade Fair 2019.
Market Restraints
Decreasing production of propylene is expected to hinder growth of the market. For instance, according to S&P Global Platts Analytics data, total propylene production in 2019 is expected to be around 12.13 million mt, a decline from around 12.28 million mt in 2018.
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Key Takeaways:
The global disposable syringes market was valued at US$ 6,514.7 Mn in 2019 and is forecast to reach US$ 11,413.7 Mn by 2027 at a CAGR of 7.6% between 2020 and 2027. Increasing prevalence of chronic disorders is expected to propel growth of the global disposable syringes market over the forecast period.
Safety Syringes segment held dominant position in the global disposable syringes market in 2019, accounting for 69.5% share in terms of value, Increasing demand for automatic retractable syringes is anticipated to drive the growth of the segment during the forecast period.
Market Trends:
Emergence of pandemic diseases is expected to increase adoption of disposable syringes. For instance, as of April 28, 2020, there have been 2,959,929 confirmed cases of COVID-19, including 202,733 deaths, as reported to the World Health Organization.
The COVID-19 crisis has also led several organizations and companies from non-healthcare sector to donate medical equipment. For instance, in April 2020, PhosAgro, a chemical holding company producing fertilizers, assisted medical institutions in Moscow, Russia, by donating ventilators, oxygen concentrators, disposable syringes, test tubes for blood and biomaterials, filter masks, protective goggles and hazmat suits.
Competitive Landscape:
Major players operating in the global disposable syringes market include, B. Braun Melsungen AG, Becton, Dickinson & Company, CODAN Medizinische Geräte GmbH & Co KG, Gerresheimer AG, Covidien plc (Medtronic plc), Retractable Technologies, Inc., Star Syringe Ltd., Smiths Medical, Terumo Corporation, and Transcodent GmbH & Co. KG (Sulzer Ltd.) Unilife Corporation.
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Key Developments:
Major players in the market are focused on investment in R&D activities. For instance, B. Braun invested US$ 1,366.64 million in the expansion or replacement of production facilities and in research and development in the 2019 fiscal year.
Major players in the market are also focused on adopting various marketing strategies. For instance, in January 2020, Becton, Dickinson and Company announced to attend the 38th Annual J.P. Morgan Healthcare Conference.
Taxonomy (Scope, segments)
- Disposable Syringes Market, By Product Type:
- Safety Syringes
- Automatic Retractable
- Manual Retractable
- Non-retractable
- Conventional Syringes
- Syringes without Needle
- Syringes with Needle
- Safety Syringes
- Disposable Syringes Market, By Region:
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Europe
- By Country:
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country:
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country:
- Middle East
- By Country:
- GCC
- Israel
- Rest of Middle East
- By Country:
- Africa
- By Country:
- South Africa
- Central Africa
- North Africa
- By Country:
- North America