The outbreak of the pandemic led to huge disruptions in the manufacturing of syringes, which in turn led to supply shortage globally
Increase in demand for injectable drug delivery devices across the globe and rise in incidence of chronic diseases act as the major driving forces for the global syringes market. Furthermore, increase in demand for technologically advanced syringes notably contribute toward the growth of the market. The global syringes market size was valued at $15,340 million in 2019, and is projected to reach $32,394.74 million by 2027, growing at a CAGR of 9.6% from 2020 to 2027. Upsurge in incidence of needle stick injuries, rise in awareness about smart syringes, and high-end technological advancements fuel the growth of the global syringes market. On the other hand, high cost and unaffordability of safety syringes and alternative modes of drug delivery impede the growth to some extent. However, increase in need for safety syringes in emerging economies is expected to create lucrative opportunities in the industry. Covid-19 scenario- The outbreak of the pandemic led to huge disru...
