The global Oral Syringes Market had a valuation of USD 1.89 billion in 2022 and is projected to experience a substantial revenue CAGR of 5% throughout the forecast period. One of the primary drivers of this market growth is the increasing demand for oral syringes in the healthcare sector, primarily due to the rising prevalence of chronic diseases like Diabetes, cancer, and cardiovascular disorders. These syringes are used to administer suspensions and liquid medications, providing a convenient and efficient way to deliver oral medication to patients, whether in tablet, capsule, or liquid form.
The prevalence of diabetes among individuals over 18 years of age was 8.5% globally in 2019, and it is expected to rise to 9.3% by 2030, as forecasted by the World Health Organization (WHO). As a result, the use of oral syringes is on the rise, especially since they are commonly employed for administering Insulin.
Furthermore, the market is expected to witness increased demand for oral syringes in the coming years due to the growing aging population. The United Nations (UN) has predicted that by 2050, there will be approximately 2.1 billion elderly individuals worldwide. For this age group, oral syringes are a practical choice as they often require assistance with medication administration and might face difficulties swallowing tablets or capsules.
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Major Companies and Competitive Landscape:
Majoy platers in the global oral syringes market include:
- Baxter International Inc.
- Becton, Dickinson and Company (BD)
- Gerresheimer AG
- Nipro Corporation
- OPM Plastic Industries SDN BHD
- Polymed Medical Devices
- Rusch (Teleflex Medical)
- Shanghai Kindly Enterprise Development Group Co. Ltd.
- Weigao Group Co. Ltd.
- Wilco AG
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Driving Factors of the Oral Syringes Market:
- Increasing Prevalence of Chronic Diseases: The rising incidence of chronic diseases, such as Diabetes, cancer, and cardiovascular disorders, is one of the key drivers of the oral syringes market. These conditions often require regular medication administration, and oral syringes provide a convenient and precise method for delivering medications.
- Aging Population: The global aging population is expected to drive the demand for oral syringes. Elderly individuals often require assistance with medication administration and may face challenges in swallowing tablets or capsules, making oral syringes a practical and essential option for them.
- Growing Demand for Home Healthcare: There is a growing trend of home healthcare, where patients prefer to receive treatment at home. Oral syringes enable easy and safe administration of medications in a home setting, contributing to the market's growth.
- Advancements in Drug Delivery Technology: Ongoing advancements in drug delivery technologies have led to the development of novel oral medications that can be effectively administered using oral syringes, further fueling the market's expansion.
Restraints of the Oral Syringes Market:
- Regulatory Challenges: The oral syringes market may face regulatory challenges in different regions, including compliance with safety standards, labeling requirements, and obtaining necessary approvals for new products.
- Competition from Alternative Drug Delivery Methods: While oral syringes offer numerous advantages, they face competition from other drug delivery methods, such as tablets, capsules, and injections, which may limit their market growth.
- High Cost of Advanced Oral Syringes: Advanced oral syringes with additional features and precision may come at a higher cost, which could hinder their widespread adoption, particularly in resource-limited settings.
- Risk of Medication Errors: Improper use or administration of oral syringes can lead to medication errors, which may have adverse effects on patient health and safety. This risk may raise concerns among healthcare professionals and patients.
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