Global Disposable Syringes Market Grows Steadily at a CAGR of 5.9%

A disposable syringe is a medical device discarded after a single use. These instruments are piston-operated cylinders with hollow interiors. Disposable syringes are utilized to take blood samples from patients. They are more affordable than standard syringes and require no maintenance. They contribute to the preservation of patient safety and the reduction of cross-contamination risks. Frequent use of disposable syringes for intravenous or intramuscular administration of drugs to treat various diseases. Moreover, these devices are used to administer numerous medicinal medications to a patient's body. Market Dynamics Rising Prevalence of Needlestick Injuries Drives the Global Market The key element driving the market's expansion is the worldwide increase in needlestick injury cases. Needlestick injuries are the cause of the transmission of lethal infectious illnesses from a patient to healthcare professionals such as doctors and nurses. Diseases transmitted by needlestick injuries include hepatitis B, hepatitis C, HIV, and more blood-borne viruses. For instance, the Occupational Safety and Health Administration (OSHA) estimates that needlestick injuries affect around 5.6 million individuals yearly. In addition, around 384,000 healthcare workers are injured annually by needlesticks in the United States. In order to prevent cross-contamination, medical experts favor safety syringes. High Growth Potential in Developing Economies Creates Tremendous Opportunities Emerging economies provide disposable syringe suppliers lucrative chances for corporate expansion. The growth of the market in developing economies like India and China is driven by the industry's ongoing evolution. The rise in global healthcare spending is another factor driving the expansion of this market. In addition, the development of the healthcare industry in developing nations is anticipated to contribute to market expansion. In addition, developing countries in Asia-Pacific and LAMEA have substantial market potential due to the prevalence of chronic diseases such as diabetes. Hence, the aforementioned aspects are anticipated to create multiple prospects for market expansion in developing nations. Regional Analysis North America is the most significant shareholder in the global disposable syringes market and is projected to grow at a CAGR of 4.3% during the forecast period. The North American disposable syringe market held the highest share due to strict government restrictions regarding the use of safety disposable syringes and good healthcare reimbursement policies. The easy availability of disposable syringes and the presence of a significant number of operating rooms and research laboratories where disposable syringes are regularly used contribute to this market's expansion. In addition, regional leaders such as Becton, Dickinson and Company, Cardinal Health, and Johnson & Johnson contributed to expanding the market. The growing incidence of needlestick injuries in the region is another important factor driving the market's expansion. The Occupational Safety and Health Administration (OSHA) estimates that around 384,000 needlestick injuries occur annually among hospital-based healthcare personnel in the United States. Moreover, the rise in diabetes prevalence in the region is a significant factor driving market expansion. In the United States, roughly 1.25 million people have type 1 diabetes, which is expected to reach 5 million by 2050. Asia-Pacific is projected to grow at a CAGR of 6.3% over the forecast period. This area offers promising market prospects for disposable syringes and is predicted to record the fastest growth rate throughout the forecast period. Moreover, the expansion of vaccination programs by the World Health Organization, the United Nations Children's Fund, and the Red Cross, the improvement of health standards, and the increase in disposable income are the significant driving factors for the growth of the disposable syringes market in Asia-Pacific. In addition, a rise in healthcare expenditures in the medical industry is predicted to fuel market expansion over the forecast period. In addition, the increase in the prevalence of deadly illnesses such as hepatitis C, hepatitis B, and HIV and the necessity to prevent cross-infections contribute to the demand for disposable safety syringes in the region. Key Highlights The global disposable syringes market was valued at USD 6291.42 million in 2022. It is estimated to reach USD 9676.75 million by 2031, growing at a CAGR of 4.9% during the forecast period (2023–2031). Based on product type, the global disposable syringes market is divided into conventional disposable syringes and safety disposable syringes. The safety disposable syringes segment is responsible for the highest market share and is projected to grow at a CAGR of 5.1% over the forecast period. Based on application, the global disposable syringes market is segmented into immunization injections and therapeutic injections. The therapeutic injections segment owns the highest market share and is projected to grow at a CAGR of 4.7% during the forecast period. North America is the most significant shareholder in the global disposable syringes market and is projected to grow at a CAGR of 4.3% during the forecast period. Competitive Players The key global disposable syringes market players are Baxter International Inc., Becton, Dickinson and Company, B. Braun Melsungen AG, Cardinal Health, Nipro Medical Corporation, Henke-Sass Wolf, Novo Nordisk A/S, Terumo Corporation, Retractable Technologies, Inc., and Vita Needle Company. Market News In December 2022, Prejex Inc., a spin-off of Prejex GMBH of Germany, agreed to manufacture needleless injections with Polybond, led by Adit Rathi of Rathi Group. This agreement has facilitated the relocation of the German company's manufacturing capabilities from Berlin to Pune for global distribution. In January 2023, Stevanato Group S.p.A. collaborated with Transcoject GmbH, a medical device and pharma packaging solutions provider. Stevanato Group will be able to add cyclic olefin polymer (COP) and cyclic olefin copolymer (COC) pre-fillable syringes to its existing offering of value-added supply chain solutions for customers. Global Disposable Syringes Market: Segmentation By Product Type Conventional Disposable Syringes Safety Disposable Syringes By Applications Immunization Injections Therapeutic Injections By Regions North America Europe Asia-Pacific LAMEA