Disposable Syringes Market Size

Disposable Syringes Market Analysis

The disposable syringes market size is estimated at USD 14.4 billion in 2023. It is expected to reach USD 22.7 billion by 2028, with a CAGR of 9.53% during the forecast period

The COVID-19 pandemic significantly impacted the growth of the disposable syringes market owing high transmission rate of the SARS-CoV-2 virus, which resulted in increased usage of disposable syringes. For instance, in February 2021, the United Nations Children's Fund (UNICEF) purchased 1 billion syringes for COVID-19 vaccination efforts in countries participating in the COVAX facility. Such high consumption of syringes during the pandemic significantly increased the market growth.

Moreover, introducing several vaccines for COVID-19 impacted the market's growth by many folds in the latter phase of the pandemic. For instance, in July 2022, the US Department of Health and Human Services (HHS), in collaboration with the Department of Defense, secured 3.2 million doses of Novavax's COVID-19 vaccine. Thus, owing to the procurement of large doses of the COVID-19 vaccine required an adequate number of disposable syringes to vaccinate a massive pool of patients, which further propelled the market growth.

Factors such as increasing activities by various NGOs creating awareness for the use of disposable syringes, the need to control the spread of diseases like HIV, and the rising demand for disposable syringes are expected to boost the market growth during the forecast period.

The needle exchange programs implemented by the government authorities and NGOs offer a proper solution to dispose of syringes after their use. For instance, in February 2023, the Michigan Department of Health and Human Services and Vital Strategies collaborated with the researchers from the Bloomberg School of Public Health's Bloomberg Overdose Prevention Initiative team to interview syringe services program operators across Michigan to document the leading factors that caused to the abrupt increase in service availability in Michigan. Such programs educate people to use disposable syringes responsibly and thereby reduce the concern of disposal of syringes, boosting the demand for these syringes during the forecast period.

Additionally, the high burden of infectious diseases, such as HIV infection, which may spread through reused syringes among the population, raises the demand for disposable syringes. This, in turn, is expected to propel market growth over the forecast period. For instance, according to the data published by HIV.gov, in June 2023, it was observed that sharing and reusing needles, syringes, or other injection equipment like cookers may increase the risk of getting or transmitting HIV or hepatitis B and C. Hence, to prevent the spread of such deadly diseases, the utilization of disposable syringes is expected to rise, thus, contributing to the market's growth.

The companies' rising focus on adopting key strategic activities, such as partnerships, agreements, and new product launches, is expected to increase the availability of disposable syringes in the market. For instance, in April 2023, Delta Med Group, headquartered in Italy, signed a partnership agreement with DBM, one of the leading manufacturers of pre-filled syringes. The partnership aims to expand the portfolio and strengthen its positioning in pre-filled syringes, including disposable syringes. Similarly, in May 2022, Sharps Technology Inc. patented the single-use smart safety syringe products and announced that it completed the acquisition of Safeguard Medical's syringe manufacturing facility in Hungary. Such instances are expected to contribute to the market's growth.

Therefore, owing to the rising government initiatives, the higher risk of acquiring infectious diseases, and increasing company activities, the market studied is expected to grow during the forecast period. However, the comparatively high one-time cost and stringent regulatory regulations are likely to hinder the growth of the disposable syringes market during the forecast period.