Published on: May 2022
What is the status of Sterilizable Syringes in the global market?
The global disposable syringes market was worth USD 13.45 billion in 2021, and it is predicted to increase at a CAGR of 6.12% from 2022 to 2030. The rise is related to an increase in the incidence of chronic diseases, increased use of safety syringes, and an increase in the number of surgeries performed internationally. According to Mölnlycke Health Care AB, 70 million surgical procedures will be conducted in Europe each year by 2021. Previously, syringes were costly and mass-produced in large quantities. As a result, healthcare providers were forced to reuse syringes on various patients. As a result, all doctors/physicians were required to sterilise and sharpen the syringe after each use. As a result, several chronic diseases started to spread in recent years. The demand for disposable syringes has risen as a result of their numerous advantages over reusable syringes. Disposable syringes have several advantages, including course sterilisation and safety.
The advancement in the healthcare industry, all thanks to Sterilizable Syringes
Patients no longer have to rely on the doctors' sterilising protocols for their safety thanks to the advent of disposable syringes, which are thrown after one use. As a result, no possibility of cross-contamination exists. Disposable syringes also have the advantages of being inexpensive and environmentally friendly. These elements have a good effect on sales growth. The market is expected to grow in the next few years.
Impact of Covid-19 on the Sterilizable Syringes market
The COVID-19 pandemic has had a significant impact on all industries, but it has also resulted in an increase in hospitalisation rates. For companies in the disposable syringes industry, this is anticipated to improve the revenue generation channel. Due to syringe shortages, a number of countries have boosted their manufacturing capacity, notably South Korea, which has doubled its syringe supply for the COVID-19 immunisation campaign in 2021.
In the midst of the fast expanding COVID-19 epidemic, manufacturers are focusing on effective sterilisation techniques to prevent infections among healthcare practitioners and patients. As a result, market players are concentrating on increasing operational performance in order to boost their global reputation. For example, BD, a worldwide medical technology company, said in June 2021 that it had received pandemic orders for 2 billion injectable devices in syringes and needles to support global COVID-19 immunisation efforts.
Regional Insights on Sterilizable Syringes market
In 2021, Asia Pacific dominated the market, accounting for 31.06 percent of total sales. The presence of important market participants in the region, as well as various government actions to ensure the use of single-use medical supplies to prevent infections, are projected to aid the region's growth.
Furthermore, the region's ageing population and prevalence of chronic diseases, together with a high level of knowledge about the safety of disposable products, are expected to drive rising demand for disposable syringes. In March 2021, for example, the government made a fresh order with Hindustan Syringes & Medical Devices Ltd (HMD) for 265 million (auto disposable) AD syringes, which will be delivered in September 2021. HMD has completed its previous orders of 177.5 million 0.5 ml AD syringes by the end of March.
Insights into Key Companies and Market Share
Market players are increasing their efforts to have their products certified so that manufacturers can begin mass manufacturing. The prevention of inadvertent needle stick injuries in healthcare settings is one of the key areas of concern for manufacturers.
In addition, market players are using a variety of methods to increase their position in the market, including mergers and acquisitions, partnerships, product launches, and innovations, such as the introduction of prefilled syringe goods. For example, Morimoto Pharmaceuticals, based in Japan, debuted a new prefilled syringe kit called Morimoto S.A.F.E. Syringe Kit in August 2019. (Smart Accident prevention, Fast & Easy).
Innovative advances in prefilled syringe products protect nurses and pharmacists from exposure to toxic substances because injection preparation is conducted inside an enclosed system. In order to deploy safe and uncomplicated medical practices, key market players are beefing up their R&D skills, which is projected to boost market growth in the near future.
The market for disposable syringes has a number of notable companies.
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