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Analysis of Disposable Syringes Market

Author:ShengGuang Medical Time:2016-06-23

Disposable syringes continue to replace the longstanding conventional, reusable glass syringes. The advantages offered by disposable syringes over the reusable syringes include sterilized units, and cost savings due to low-priced materials. In 2014, global disposable syringes market was valued at US$ 5,553.9 million in 2014 and is projected to reach US$ 9,326.6 million by 2023, expanding at a CAGR of 5.6% during the forecast period from 2015 to 2023. In terms of volume, the demand for disposable syringes stood approximately 36.2 billion in 2014 and is anticipated to reach 47.1 billion units by 2023, increasing at a CAGR of 2.8%.

The disposable syringes market has been segmented into two major types: safety syringes and conventional syringes. Syringes equipped with safety mechanisms are known as safety syringes. Safety syringes protect patients and health care professionals from accidental needlestick injuries. Safety syringes have been categorized into automatic retractable safety syringes, manual retractable safety syringes, non-retractable safety syringes, and auto-disable syringes. In comparison to safety syringes, conventional syringes are not equipped with safety mechanisms and are supposed to simply dispose as a health care waste. Conventional syringes have been further classified into syringes without needles and syringes attached with needles. Rising demand for point-of-care treatment is driving the market for disposable syringes market coupled with preference for self-administration and increasing geriatric population. The aging population prone to chronic diseases are positively impacting the growth of disposable syringes market. Moreover, the rise of biological drugs (mostly formulated as injectable) is also providing little, yet additional impetus for the market growth.
 
On the basis of geography, this market report segments the global disposable syringes market in to five major regions: North America, Europe, Asia Pacific, Latin America, and Rest of the World. 

North America was the largest regional market for disposable syringes, followed by Europe and Asia Pacific. The major factors contributing to the growth of North America disposable syringes market is the continuously increasing demand for innovative products and government initiatives to boost the use of safety mechanisms across the region’s healthcare sector. Europe is the second largest market in the global disposable syringes market. Asia Pacific and Rest of the World will also contribute to the global growth through the increased demand from emerging markets.

Some of the key players operating in the global disposable syringes market include B. Braun Melsungen AG, Becton, Dickinson & Company, Covidien plc (Medtronic plc), Codan Medizinische Geräte GmbH & Co. KG, Gerresheimer AG, Retractable Technologies, Inc., Smiths Medical, Star Syringe, Terumo Corporation, and Unilife Corporation.