India Disposable Syringes Market Expected to Reach $385.54 Million by 2030

According to a new report published by Allied Market Research, titled, “India disposable syringes market by product type, application and end user: country opportunity analysis and industry forecast, 2021–2030," The India disposable syringes market size was valued at $148.00 million in 2020, and is projected to reach $385.54 million by 2030, registering a CAGR of 10.3% from 2021 to 2030.

Disposable syringes are medical instruments, which are discarded after one-time use. These instruments are hollow cylinders that work on a piston mechanism. In addition, disposable syringes are used for the collection of blood samples from a patient. Moreover, these devices are also employed in delivering various therapeutic drugs into the body of a patient. Furthermore, conventional disposable syringes and safety disposable syringes are the different types of syringes available in the market.

Surge in the use of injectable drugs, due to the lack of bioavailability in conventional drug delivery methods is the major factor that contributes to the growth of the India disposable syringes market. In addition, rise in healthcare expenditure, surge in the prevalence of various chronic diseases, which require use of disposable syringes, and increase in cases of needlestick injuries fuel the growth of the India disposable syringes market. However, high cost of disposable syringes restricts the growth of the market. Conversely, increase in adoption of disposable syringes in developing economies is expected to offer lucrative opportunities during the forecast period.

Coronavirus (COVID-19) was discovered in late December in Hubei province of Wuhan city in China. The disease is caused by a virus, namely, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), which is transmitted from humans to humans. Lockdown, government regulations, and continuous increase in infection rate across the country created a widespread financial impact on neurology hospitals and clinics. Large number of hospitals and clinics have witnessed a drop in number of patient visits amid COVID-19 ultimately reducing client contact.

The overall impact of COVID-19 remains positive on the India disposable syringes market. There is significant rise in COVID-19 vaccines leading to increased demand for vaccines due to COVID-19. The need for disposable syringe has also significantly grown simultaneously. Many countries across the world have imposed serve lockdown between March 2020 and June 2020. Medical and other non-medical professionals are combating the COVID-19 patients to diminish the virus spread. In addition, there is an increase in the demand for disposable syringes to administer medication. To date, more than millions of patients have taken vaccines using disposable syringes. Manufacturers have increased their production capacities to meet the rise in need and to serve expectations. For instance, in July 2021, according to WHO around 900 million people were vaccinated using disposable syringes in India. Therefore, there is an increase in the demand for disposable syringes, which boosts the growth of the India disposable syringes market.

The India disposable syringes market is segmented into product type, application and end user.

On the basis of product type, the safety disposable syringe segment acquired the major share of the market in 2020. Furthermore, the segment is also expected to exhibit fastest growth during the forecast period, owing to rise in adoption of safety disposable syringes. This is due to presence of favorable government initiatives such as national occupational safety and health administration (OSA), an agency in the India that assures safe and healthy working conditions for working men and women.

On the basis of application, the therapeutic injection segment holds the largest share in India disposable syringes market. The growth of the segment is attributable to surge in prevalence of various chronic disorders such as diabetes and cancer, which require the administration of therapeutic agents with the help of disposable syringes. Furthermore, the immunization injection segment is expected to grow at the fastest pace during the forecast period, owing to rise in awareness related to benefits of vaccination across the country.

On the basis of end user, the hospital segment holds the largest share in the market. The growth of the segment is attributable to surge in prevalence of various chronic disorders such as diabetes and cancer, which require the administration of therapeutic agents, rise in geriatric population, and increase in number of patients.

Key Findings Of The Study

• By product type, the safety disposable syringe segment accounted for approximately 58.77% share of the market in 2020.
• By end user, the hospital segment accounted for 25.41% India disposable syringes market share in 2020 and is expected to maintain this trend throughout the forecast period.
• By application, the therapeutics injection segment is anticipated to grow at a CAGR of 11.2% from 2020 to 2030
• By product type, the convention disposable syringe segment accounted for 41.23% share of the market in 2020.