PUBLISHER: Grand View Research | PRODUCT CODE: 1404668
PUBLISHER: Grand View Research | PRODUCT CODE: 1404668
The global disposable syringes market size is expected to reach USD 22.81 billion by 2030, registering a CAGR of 6.2% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market growth is primarily driven by factors, such as a rise in technological advancements and a high incidence of obesity. Moreover, the increasing adoption of safety syringes and prevalence of diabetes drive market growth. Leading manufacturers are focusing on technological innovations and developing advanced products to gain substantial market shares. Increasing prevalence of chronic disorders, such as diabetes, can be managed by self-injecting medication. Growing cases of chronic diseases and a rising number of vaccinations that make extensive use of syringes, such as single-use and disposable syringes, are boosting market growth.
According to the International Diabetes Federation (IDF) Diabetics Atlas, the diabetic population is anticipated to grow by 46.0% reaching 643 million (1 in 9 adults) by 2030, and likely to majorly rise in middle-income countries, as compared to the developed countries. North America dominated the market in 2022 with a share of over 40%. MEA has the highest prevalence of diabetes in countries like Kuwait, Saudi Arabia, and Bahrain; thus, the region is anticipated to register the fastest CAGR of 6.9% from 2023 to 2030. Moreover, the presence of untapped opportunities in the emerging economies of Saudi Arabia and Kuwait will support regional market growth.