Albany, NY, Jan. 06, 2016 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research “Disposable Syringes Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023,” the global disposable syringes market was valued at US$5.5 bn in 2014 and is projected to reach US$9.3 bn by 2023, expanding at a CAGR of 5.6% during the forecast period from 2015 to 2023.
Syringes are the most widely used medical products in the world. These are used to deliver medicines intravenously or intramuscularly for the treatment of almost every disease. Disposable syringes are first choice in healthcare settings as compared to reusable syringes. The key factors which makes them more in demand than their conventional counterpart include, sterility, accuracy and low cost of acquisition as compared to reusable syringes which comes at much higher cost with possibility of infection if sterilization is not maintained.
Browse Market Research Report on Disposable Syringes Market: http://www.transparencymarketresearch.com/disposable-syringes-market.html
This report covers the global disposable syringes market segmented by product type and geography. On the basis of product type, the global market has been categorized into two major types: safety syringes, and conventional syringes. Safety syringes have been further categorized into automatic retractable safety syringes, manual retractable safety syringes, non-retractable safety syringes, and auto-disable syringes. Demand for safety syringes is rising majorly due to increase in cases of needlestick injuries caused due to unsafe injection practices. Retractable safety syringes are loaded with a retractable mechanism that allows retraction of the needle into the barrel of the syringe. These syringes offer better growth potential due to high acceptance levels, especially in developed nations and are witnessing increased adoption as health care professionals are not required to undergo additional training. Auto-disable syringes are high in demand these days due to its self-destruction ability which helps to prevent transmission of blood borne pathogens among patients.
Despite conventional syringes account for larger share in terms of volume, the global safety syringes market revenue accounts for two-third of disposable syringes market revenue. Growth of this segment is due to strict government regulations and ongoing development in the safety mechanism, which is likely to result in a better quality delivery products. Auto-disable syringes is a segment among the safety syringe products, and some of the most popular products in this segment include Soloshot and Soloshot FX syringes (BD), K1 syringes (Star Syringe, Ltd.), Destroject syringe (Bader), and Univec syringe (Univec, Inc.). AD syringes have good market potential and are expected to be the most rapidly growing segment in the market.
Browse Press Release of Disposable Syringes Market:http://www.transparencymarketresearch.com/pressrelease/disposable-syringes-market.htm
Some of the key players operating in the global disposable syringes market include B. Braun Melsungen AG, Becton, Dickinson & Company, Covidien plc (Medtronic plc), CodanMedizinischeGeräte GmbH & Co. KG, Gerresheimer AG, Retractable Technologies, Inc., Smiths Medical, Star Syringe, Terumo Corporation, and Unilife Corporation.
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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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Source:Transparency Market Research