Syringes and Needles Market Trends

Growth Drivers

• Increasing geriatric population across the globe – The global elderly population continues to increase at an exceptional rate that is increasing the demand for injectable medicines. Currently, 8.5% of the global population (617 million) is aged 65 and older. Between 2015 and 2050, the worldwide number of "oldest old people" aged 80 and older is projected to more than triple, from 126.5 million to 446.6 million.

• Surging Global Disease Outbreaks Such as Epidemics and Pandemics– Pandemics are broad-scale epidemics of infectious diseases that can significantly increase mortality as well as morbidity across an extensive geographical region and cause substantial disruptions in the economy, society, and politics. The influence of  COVID-19 on pharmacological packing is anticipated to be high owing to the prompt production of vaccines for coronavirus variants. The growing epidemics of diseases increases the need for syringes and needles for the treatment and administration of drugs. BD (Becton, Dickinson, and Company) announced in 2021 that it had received contracts for 2 billion injection products to support global COVID-19 vaccination initiatives.

• Rapid Technological Advancement in Syringes and Needles – In 2022, Terumo Pharmaceutical Solutions (TPS) introduced a pre-fillable polymer syringe for low-dose applications, such as ophthalmic medications. The PLAJEX 0.5 mL Luer Lock Silicone free of oil pre-fillable syringe was developed specifically for difficult low-dose pre-filled syringe (PFS) products, making it appropriate for high-value drug applications.
• There have been other growth factors in the syringes and needles market such as the surging use of VR and AR for the manufacturing of needles, and syringes. Moreover, the increasing use of prefilled syringes that are used for the treatment of chronic diseases.

Challenges

• Rising Risk of Needle Stick Injuries – Needlestick injuries (NSIs) that expose healthcare workers to blood-borne pathogens pose a significant threat to both healthcare workers and patients. These incidents are capable of transmitting numerous blood-borne infectious illnesses, particularly viruses. These include hepatitis B (HBV), hepatitis C (HCV), and HIV. OSHA estimates that nearly five million healthcare professionals are at risk of occupational exposure to various pathogens transmitted by blood due to NSIs

• Increasing Adoption of Alternative Drug Delivery Technologies

• Stringent Government Regulation