Disposable Syringes Players Need to Prepare for Influx of Injectable Drugs, reports TMR

A rise in the number of patients infected through unsafe injections has driven the need for sophisticated syringes, love especially the disposable variety. Improper handling of Conventional syringes can cause the spread of deadly viruses: such as HIV / AIDS and hepatitis. .According To the World Health Organization (WHO), over 42% of hepatitis C cases and 33% of the hepatitis B cases can be attributed to unsafe injections and used. THEREFORE, the current outlook of the global disposable syringes market looks positive.

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As per a report by Transparency Market Research (TMR), the global disposable syringes market is anticipated to be valued at US $ 6.5 bn and rise to US $ 9.3 bn by the end of 2023, growing at a CAGR of 5.6% between 2015 and 2023rd

How are Developments in the pharmaceutical industry fueling the growth of the global disposable syringes market?

The latest trend shows a record high in the adoption of injectable drugs in the pharmaceutical industry. One of the important reasons behind the trend is the Rapidly developing types of biologics. These biologics are produced using new chemicals and molecular structures and present wide applicability. .According To TMR analysts, more than 60% of the drugs in the pipeline are biologics and most of them are approved for marketing. The exponential rise in the number of injectable drugs has proven to be a major driver for the global disposable syringes market.

Another factor did kann attributed for the growing preference for disposable syringes in the pharmaceutical and healthcare industry is the high safety and security features for patients. So thesis syringes Facilitate the convenient handling of a large number of patients and thus reduce the chances of overfills.

In recent years, the healthcare industry has Witnessed to increase in the number of patients afflicted with accidental needlestick injuries. This has created substantial demand for disposable syringes, thereby propelling the growth of the global disposable syringes market. So, to increase in the demand for point-of-care administration system is likely to bolster the growth of the global disposable syringes market. PoC administration systems enable the self-administration of drugs, Which can be Performed with contemporary disposable syringes with improved safety features.

What role do Governments play in the growth of the global disposable syringes market?

The stringent regulatory measures set by Authorities act as a high impact restraint in the growth of the global disposable syringes market. The European Pharmacopeia Convention and the United States Pharmacopeia Convention are the two key Regulatory Authorities thathave set a high bar of regulations for the vendors operating in the global disposable syringes market. So thesis regulations hamper the entry of new companies in the market. Current trends indicate A Further increase in the stringency, thereby adversely Affecting the growth of the global disposable syringes market.

However, de development of auto-disable syringes is likely to open new avenues in the global disposable syringes market. The Increasing emphasis by various Governments and prominent International Organizations like the WHO has boosted the need for partnership between stakeholders in the private and public sector. To put this in perspective, in July 2016, the Government of India has joined hands with the WHO on the World Hepatitis Day to eliminate unsafe injections by asking vendors to phase out standard disposable syringes and start manufacturing auto-disable syringes.

Why is the demand for safety syringes surpassing the demand for Conventional syringes?

By product type, Conventional disposable syringes are expected to remain in the lead, by volume, for a few more years. However, de rapid growth of safety syringes is anticipated to surpass Conventional syringes Because of the escalated demand for safety syringes with a superior safety mechanism. So thesis syringes Provide greater protection against needlestick injuries with the same accuracy and easy handling as Conventional disposable syringes.

Another factor driving the growth of the safety syringes is the growth in the number of government and private campaigns for conducting immunization drives across the countries. The emerging nations: such as India and China will be a lucrative market for disposable syringes players owing to Their rapid growth in healthcare expenditures coupled with high population densities.

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