Tag Archives: Disposable Syringes Market

Disposable Syringes Market: Business Challenges, Emerging Technologies & Competitive Landscape

Becton, Dickinson & Company, B. Braun Melsungen AG, and Covidien, the three top makers of disposable syringes in the world; they held over 62% of the market for disposable syringes in 2014. In the same year, less than a quarter of the market was taken up by scattered regional players, indicating a fairly consolidated market that is dominated by the globally prominent entities, says Transparency Market Research in a new report.

Trust and high safety are key factors that work in the favor of the top disposable syringe providers, as they have consistently provided healthcare organizations with sterilized and quality products. TMR states that these key players also possess a forward position in drug delivery technologies and strong marketing and distribution chains. TMR also states that the market currently holds a medium threat from new entrants, due to the high number of regulatory requirements and the long-term nature of currently existing contracts between healthcare organizations and players.

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Most of these prominent players are expected to look to Asia Pacific as the most attractive market in the coming years while the market for disposable syringes nears maturity in North America and Europe.

Rapid Growth of Injectable Drugs Holds Key Chances of Growth for all Disposable Syringe Makers

The recent years have seen a high influx of injectable drugs into the pharmaceutical industry. A key reason for this is the rapidly evolving types of biologics, done by harnessing intensive research and development efforts. New chemicals and molecular structures that are more potent than their predecessors have already been approved for marketing, with more in the pipeline.

Disposable syringes also add a layer of safety and security for patients from the perspective of the healthcare industry. Using disposable syringes increases the ease of handling large number of patients and reduces the chances of overfills as well.

“Currently, more than 60% of the drugs under clinical development stages are biologics,” states a TMR analyst. “This points to a very optimistic future for manufacturers of disposable syringes as it will considerably boost the demand for safer, modern, and disposable syringes in all healthcare organizations.

Regulations Get More Stringent, Deterring Growth in Key Markets

“Acting as a primary restraint are the high standards set by regulatory authorities with The United States Pharmacopeia Convention and the European Pharmacopeia Convention being the two key organizations,” says a TMR analyst. Disposable syringes makers additionally have to refer to the Federal Needlestick Safety and Prevention Act of 2000 for further compliance requirements within the U.S.

However, manufacturers of disposable syringes have their work cut out for them after the substantially important product recalls done so far. This includes the 2013 recall by Covidien for syringes that were reportedly incorrectly sterilized, allegedly resulting in the death of a number of patients in that year.

Current progress of regulatory pressure also indicates that the number of certifications and regulatory compliances that a disposable syringes manufacturer will need in the future will only increase, adding to the already significant challenge players are currently facing.

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Safety Syringes Guide Growth of Most Disposable Syringes Manufacturers

By product-based revenue, the global market for disposable syringes is expected to reach US$9.3 bn by the end of 2023. By the end of 2016, this market is expected to be valued at US$6.5 bn, progressing at a CAGR of 5.6% from 2015 to 2023.

Safety syringes represent not only the largest product segment currently, but is also the fastest growing one. It is expected to progress at a CAGR of 8.1% between 2015 and 2023. In terms of volume, the total number of disposable syringes used is expected to cross 47 bn units by the end of 2023.

The information presented in this review is based on a Transparency Market Research report, titled, “Disposable Syringes Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023.”

Key Takeaways:

  • North America to remain leading region in disposable syringes consumption at US$4.9 bn revenue by 2023.
  • Safety syringes to grow in popularity, expected to reach US$7.8 bn by 2023.
  • Europe with second-fastest growth rate expected to reach US$2.4 bn by 2023.

 

The Emerging Role of Disposable Syringes Market in Healthcare Industry

Medical Waste ManagementTransparency Market Research has published a new report on the global disposable syringes market. As per the report, the global disposable syringes market is expected to expand at a 5.60% CAGR during the period between 2015 and 2023. The report, titled ‘Disposable Syringes Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023,’ states that the global disposable syringes market is expected to progress from US$5.5 bn in 2014 to US$9.3 bn by 2023 due to the increasing demand for point-of-care administration and the rising use of injectable drugs.

Syringes are one of the most widely used medical products and are available in many types and sizes. The demand for disposable syringes is expected to increase in the years to come, as they continue to replace conventional and reusable glass syringes. The quality of disposable syringes is better than the conventional ones. Cost saving and use of sterilized units are two of the many benefits of using disposable syringes.

Factors such as lack of stringent government regulations and the need to meet standards that are set by the regulatory authorities are predicted to hamper the growth of the global disposable syringes market in the years to come. However, factors such as technological advancements, the increasing number of cases of needlestick injuries, and the growing variety of injectable drugs are expected to contribute towards the growth of the global disposable syringes market in the next few years.

The global disposable syringes market is widespread, with leading players covering different regions. B. Braun Melsungen AG, Becton, Dickinson & Company, CODAN Medizinische Geräte GmbH & Co. KG, Gerresheimer AG, Covidien (Medtronic plc), Retractable Technologies, Inc., Star Syringe Ltd., Smiths Medical, Terumo Corporation, and Unilife Corporation are some of the leading companies operating in the global disposable syringes market. The global disposable syringes market is segmented on the basis of geography and product type.

By geography, the global disposable syringes market is divided into Europe, Latin America, North America, Asia Pacific, and Rest of the World. Currently, the global disposable syringes market is dominated by North America, followed by Europe. The growing demand for innovative products and the rising government initiatives to promote safety mechanisms are predicted to propel the North America disposable syringes market in the near future. The increasing demand for disposable syringes is also predicted to benefit the Asia Pacific market.

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Based on product type, the global disposable syringes market is classified into safety syringes and conventional syringes. The safety syringes segment is sub-segmented into automatic retractable syringes, manually retractable syringes, auto-disable syringes, and non-retractable syringes. The demand for safety disposable syringes is expected to increase as they have the capacity to protect patients from accidental needlestick injuries.

Leading players in the global disposable syringes market are focusing on introducing new syringes with enhanced quality. Features such as accuracy, ease of handling, and sterility are expected to increase the demand for disposable syringes across the globe.

Global Disposable Syringes Market Propelled by Rising Healthcare Awareness

The global disposable syringes market has been witnessing a surge in demand over the past few years. The increased awareness regarding the risks of using non-disposable syringes as well as the benefits offered by the disposable ones is the main reason for the growth of the worldwide disposable syringes market. The reduction in the cost of these syringes and the increasing usage of superior materials for their production are likely to boost the market in the coming years.

According to a report published by Transparency Market Research, the global market for disposable syringes stood at US$5.5 bn in 2014. Analysts expect it to expand at a CAGR of 5.60% between 2015 and 2023 and reach a value of S$9.3 bn by the end of 2023. In terms of demand, the market reached approximately 36.2 bn units in 2014 and likely to reach around 47.1 bn units by the end of 2023.

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Safety Syringes Market to Witness High Demand

Conventional disposable syringes and safety syringes are the two main types of products available in the global disposable syringes market. Safety syringes are equipped with safety mechanisms to protect patients as well as healthcare practitioners from accidental needle injuries while conventional disposable syringes have no such specification. Owing to this property, the demand for safety syringes is registering a rise in the global arena.

Syringes with needles and syringes without needles are the two main categories in the conventional disposable syringes market and manual retractable syringes, automatic retractable syringes, non-retractable syringes, and auto-disable syringes are the major segments of the safety syringes market. The auto-disable syringes segment is witnessing high demand owing to the self-destruction ability of these syringes, assisting in preventing the transmission of blood-borne pathogens among patients.

The retractable syringes segment is also expected to report impressive growth in the coming years. The rapid adoption rate of these syringes, especially in developed economies, is the key reason for the market’s growth.

North America Leads Global Disposable syringes Market

The worldwide disposable syringes market is divided into North America, Latin America, Europe, Asia Pacific, and the Rest of the World. North America has emerged as the leading regional market for disposable syringes in the global arena. The rising awareness regarding the health benefits of using disposable syringes, together with various government regulations, mandating safety mechanisms in the healthcare sector, is fueling the demand for these syringes in this region.

Europe has occupied the second position in the global disposable syringes market and is expected to maintain the pace of its growth in the coming years. The disposable syringes markets in Asia Pacific and the Rest of the World are also projected to experience a high demand in the near future on account of several government initiatives encouraging adoption of safety measures in the medical and healthcare industry.

Global Disposable Syringes Market: Key Players

The major participants in the global market for disposable syringes are CODAN Medizinische Geräte GmbH & Co. KG, Covidien, Becton, Dickinson & Co., Star Syringe Ltd., Unilife Corp., B. Braun Melsungen AG, Smiths Medical, Gerresheimer AG, Retractable Technologies Inc., and Terumo Corp.

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Disposable Syringes to Represent Global Market Worth US$9.3 bn by 2023

According to a new market report published by Transparency Market Research “Disposable Syringes Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023,” the global disposable syringes market was valued at US$5.5 bn in 2014 and is projected to reach US$9.3 bn by 2023, expanding at a CAGR of 5.6% during the forecast period from 2015 to 2023.

Browse the full Disposable Syringes Market (By Product Type: Safety Syringes – Automatic Retractable, Manual Retractable, Non-retractable, and Auto-disable; Conventional Syringes – Without needle, and With needle) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023 report at http://www.transparencymarketresearch.com/disposable-syringes-market.html

Syringes are the most widely used medical products in the world. These are used to deliver medicines intravenously or intramuscularly for the treatment of almost every disease. Disposable syringes are first choice in healthcare settings as compared to reusable syringes. The key factors which makes them more in demand than their conventional counterpart include, sterility, accuracy and low cost of acquisition as compared to reusable syringes which comes at much higher cost with possibility of infection if sterilization is not maintained.

This report covers the global disposable syringes market segmented by product type and geography. On the basis of product type, the global market has been categorized into two major types: safety syringes, and conventional syringes. Safety syringes have been further categorized into automatic retractable safety syringes, manual retractable safety syringes, non-retractable safety syringes, and auto-disable syringes. Demand for safety syringes is rising majorly due to increase in cases of needlestick injuries caused due to unsafe injection practices. Retractable safety syringes are loaded with a retractable mechanism that allows retraction of the needle into the barrel of the syringe. These syringes offer better growth potential due to high acceptance levels, especially in developed nations and are witnessing increased adoption as health care professionals are not required to undergo additional training. Auto-disable syringes are high in demand these days due to its self-destruction ability which helps to prevent transmission of blood borne pathogens among patients.

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Conventional syringes have been classified into conventional syringe without needle and conventional syringe attached with needle. Presently, the conventional syringes account for a larger market share in terms of volume owing to higher demand from population Asian and African countries. However, market for these products will plummet in the near future as more effective products such as retractable syringes are being adopted worldwide. Conventional syringes are not equipped with any kind of safety mechanisms and hence the market share for these products is falling rapidly. The other reasons for the decline include strict regulatory guidelines and growing concerns among health care workers regarding needlestick injuries.

Despite conventional syringes account for larger share in terms of volume, the global safety syringes market revenue accounts for two-third of disposable syringes market revenue. Growth of this segment is due to strict government regulations and ongoing development in the safety mechanism, which is likely to result in a better quality delivery products. Auto-disable syringes is a segment among the safety syringe products, and some of the most popular products in this segment include Soloshot and Soloshot FX syringes (BD), K1 syringes (Star Syringe, Ltd.), Destroject syringe (Bader), and Univec syringe (Univec, Inc.). AD syringes have good market potential and are expected to be the most rapidly growing segment in the market.

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.