The rapid increase in the number of injectable drugs to be approved recently has been a key contributor to the growth in demand for disposable syringes specifically, over other types of syringes. This is due to the growing number of patients afflicted with accidental needlestick injuries. Both factors thus work in tandem to create a staggering demand for disposable syringes and will continue to do so in the long term.
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The number of disposable syringes being used has also increased due to the growth in point-of-care administration systems. These systems promote the self-administration of drugs, which can be easily done with modern disposable syringes with improved safety features.
High Influx of Injectable Drugs Driving Global Disposable Syringes Market
In the recent past, there has been a high flow of injectable drugs in the pharmaceutical sector. The primary reason for this is the rapid evolution of biologics through aggressive research and development activities. New molecular and chemical structures that are more effective than their predecessors are gaining quick approvals for commercialization along with new products being added to the manufacturing pipeline. Thus, the global disposable syringes market is expected to see several new and improved products in the near future.
Disposable syringes also provide an additional layer of security and safety for patients. Use of disposable syringes increasingly eases the problem of handling large number of patients and also cuts down the possibilities of overfills. Collectively, these factors are helping in driving the growth of the global market.
The future for global disposable syringes manufacturers is expected to be very optimistic with over 60% of drugs under clinical development phases consisting of biologics. It is also expected to significantly surge the demand for modern, safer, and easily usable disposable syringes in healthcare sector all across the world.
High Regulatory Norms May Slow Down Market Growth
The chief restraining factor for the growth of global disposable syringes market is expected to be the very high standards issue by the regulatory bodies. The European Pharmacopeia Convention and the United States Pharmacopeia Convention are the two key authorizing organizations governing the global disposable syringes market. Moreover, the manufacturers of disposable syringes have to additionally comply with the Federal Needlestick Safety and Prevention Act of 2000 to trade within the U.S. Such high standards may delay the marketing of the product and thus may impede the development of the global disposable syringes market.