March 29, 2020
Disposable Hypodermic Syringes

Disposable Hypodermic Syringes Market Growth 2027: detailed market analysis

The market for disposable hypodermic syringes was estimated at US$ 308.6 million in 2018, with CAGR projected to grow by 6.2 per cent over the forecast period from 2019 to 2027.

The global market for disposable hypodermic syringes has grown competently from 2019 to 2027, accredited for hospital admissions for diabetes, multiple sclerosis, dental diseases, trauma and other lifestyle diseases, along with an increasing number of surgical procedures. Upgraded technology in single-use hypodermic syringes with higher patient safety at low cost will increase demand. Increasing awareness strategies, FDA approval of new products, technology expansion and new product launch will further drive the market for disposable hypodermic syringes globally.

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The World Health Organization estimates that around 16 billion injections are administered globally every single year. More than 65 million people with diabetes are currently living in the European region. According to IDF Diabetes Atlas, the top five countries for the number of people with diabetes are the Russian Federation, Germany, Turkey, Spain and Italy. Insulin delivery syringes will increase significantly on a global scale due to the high prevalence of diabetes in the geriatric population. The huge pool of patients, especially in the Asia-Pacific region, opting for diagnosis and treatment at diagnostic centers, multi-specialty clinics, outpatient clinics and hospitals for various diseases will increase the overall growth of the market. The European region will also contribute a significant market share due to satisfactory government policies, enhanced medical care infrastructure and the presence of pharmaceutical & biotech companies.

Top companies are focusing on new product expansion, mainly in the U.S. and European markets. For example, BD (Becton, Dickinson and Company) invested around US$ 100 million in the U.S. market to further expand its capacity for insulin syringe manufacturing operations. In 2017, the total direct cost of diabetes in the United States was US$ 237 billion. The North American region generated maximum revenue from rising prevalence of lifestyle disorders, type 1 and type 2 diabetes, high blood glucose mortality, a large number of geriatrics (over 60 years of age) and the home of key players in the U.S. market.

Key questions answered in this report 

  • What are the current market trends and dynamics in the disposable hypodermic syringes market and valuable opportunities for emerging players?
  • Which segment accounts for the fastest CAGR during the forecast period and why?
  • Which end user segment holds a larger market share and why?
  • Are low and middle-income economies investing in the disposable hypodermic syringes market?
  • What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America and Middle East & Africa?

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