Portland, OR, May 27, 2020 (GLOBE NEWSWIRE) -- Allied Market Research recently published a report, titled, “Disposable Syringes Market by Product type (Conventional Disposable Syringesand Safety Disposable Syringes) and Application (Immunization Injectionsand Therapeutic Injections), Global Opportunity Analysis and Industry Forecast, 2019–2026”
According to the report published by Allied Market Research, the global disposable syringes market garnered $5.45 billion in 2018, and is estimated to generate $8.11 billion by 2026, registering a CAGR of 5.1% from 2019 to 2026. The report offers an extensive analysis of key market dynamics, driving forces & opportunities, key segments, pricing, product portfolio, and competitive scenario.
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Surge in prevalence of needle-stick injuries, increase in expenditure in healthcare across the world, and prevalence of infectious diseases drive the growth of the global disposable syringes market. However, expensive nature of disposable syringes and ease in availability of alternative delivery modes hinder the market growth. On the other hand, supportive government initiatives and high potential for growth in untapped regions create new opportunities in the coming years.
Covid-19 Scenario:
- Government organizations have been offering funding to companies for producing disposable syringes that can be used during the treatment of Covid-19 patients.
- Considering the outbreak across the world, manufacturers are ramping up production efforts for meeting the ever-growing demand.
- Manufacturers have been finding alternative supply chains for disposable syringes in the areas where there is a significant supply-demand gap.
The report segments the global disposable syringes market based on product type, application, and region. Based on product type, the safety disposable syringes segment accounted for the largest market share in 2018, holding more than four-fifths of the total market share, and is estimated to continue its lead during the forecast period. Moreover, this segment is estimated to witness the largest CAGR of 5.3% from 2019 to 2026. The report also offers a detailed analysis of the conventional disposable syringes segment.
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On the basis of application, the therapeutic injections segment accounted for the highest market share in 2018, contributing to nearly four-fifths of the total revenue, and is estimated to maintain its dominance in terms of revenue throughout the forecast period. On the other hand, the immunization injections segment would portray the fastest CAGR of 5.9% during the forecast period.
Based on region, North America held the major market share, contributing to more than two-fifths of the total market share in 2018, and is expected to maintain its highest contribution throughout the forecast period. On the other hand, the Asia-Pacific region is expected to grow at a CAGR of 6.5% from 2019 to 2026.
Leading players of the global disposable syringes market analyzed in the research include B. Braun Melsungen AG, Baxter International Inc., Cardinal Health, Becton, Dickinson and Company, Nipro Medical Corporation, Henke-Sass Wolf, Retractable Technologies, Inc., Novo Nordisk A/S, Terumo Corporation, and Vita Needle Company.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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