The global disposable syringes market is led by players such as Becton, Dickinson & Company, Covidien plc, Terumo Corporation, B. Braun Melsungen AG, and Retractable Technologies, Inc. These companies alone represented a share of over 38% in the market, as per Transparency Market Research (TMR). The presence of huge number of providers of generic raw materials such as latex rubber, elastomer, titanium, and plastic is seen in the market. In this market, reusable syringes have come up as a key threat in emerging nations having poor legislations on safety syringes.
The global disposable syringes market is predicted to touch US$6.5 bn by 2016 end and US$9.3 bn by 2023 end. On the basis of product type, conventional disposable syringes held a significant share in the market, on the basis of volume and are predicted to hold a significant share in the market in the coming years. Although this segment will lose its lead position which will be taken over by safety syringes owing to safety syringes gaining a lot of popularity. It is predicted that by 2023, the segment of safety syringes will take up a share of 84% in the market, in terms of revenue.
Improve Syringe Quality to Bolster North America disposable Syringes Market
In terms of geography, the disposable syringes market will be led by North America by 2016 end and will take up a revenue share of US$3.9 bn. This is around half of the total earned revenue in the market. This region is predicted to maintain its position in the market till 2023, though it might lose some of its share to the region of Asia Pacific. On the other hand, Europe is predicted to take a second position in the market till 2023. The increasing count of injectable drugs in the region of Europe and North America will work in favor of the growth of the market in these two regions. In addition, the improved quality of syringes and the growing concern of individuals about needlestick injuries may fuel the development of the market in these two regions.
Booming Injectable Drugs Market will Strengthen Growth of Disposable Syringes Market
The global disposable syringes market is predicted to rise due to the ongoing development in the market for injectable drugs. “In addition, the increasing demand for point-of-care administration and the rising cases of needlestick injuries will provide impetus to the development of the global disposable syringes market,” says a TMR analyst.
Furthermore, the technological developments taking place in the disposable syringes’ manufacturing will positively impact the growth of this market, states a TMR analyst. In addition, the utilization of high-quality material for the manufacturing of syringes will bolster the development of the market. On the other hand, less stringency in the regulations by governments in some of the emerging nations may impede the development of the market in the coming years.
Nonetheless, the market for disposable syringes is experiencing development of automatic retractable syringes because of their increasing advantages as compared to other products. The automatic syringes market is predicted to rise at a 13.10% CAGR between 2014 and 2022. Hence, the introduction of automatic retractable syringes present new avenues in the market.
This information is based on the findings of a report published by Transparency Market Research titled, “Disposable Syringes Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 -2023.”
The global disposable syringes market is segmented as follows:
Global Disposable Syringes Market (Revenue and Volume), by Product Type
Global Disposable Syringes Market Revenue, by Geography
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