Insulin Syringes Market Size, Share, Growth, Trends, and Industry Analysis: By Syringe Size (3/10 CC Syringe (0.3ml), 1/2 CC Syringe (0.5ml), 1CC Syringe (1ml), Others), By Disease (Type 1 Diabetes and Type 2 Diabetes), By End-use (Hospitals & Clinics, Homecare Settings, and Others) and Region

In the insulin syringes market, the syringes sold in 2023 are around 7,638.6 million units and are expected to register a CAGR of 2% during the forecast period, with a volume of 8,781.5 million units expected to be sold. Insulin syringes form an important segment of the healthcare industry, catering to the needs of patients suffering from diabetes. The major driving factors for this market include the rising prevalence of diabetes, increasing self-administration, developing technology, and an aging population.

According to its estimates, IDF reports a very high and increasing global prevalence of diabetes. In 2021, around 10.5% of the adult population of the age group 20-79 years was reported to be suffering from diabetes. That would amount to approximately 537 million adults in the world. Unfortunately, nearly half of these adults are unaware that they are affected by the condition. According to the forecast made by IDF, in 2045 there would be 783 million adults affected with diabetes, which is almost every 1 in 8 adults. This is driven by factors such as urbanization, aging of the population, decreased levels of physical activity, and rising overweight and obesity rates. Thus, an ever-growing number of people with diabetes-both Type 1 and Type 2-is one of the major factors driving the growth in the market for insulin syringes.

However, constraints such as competition from other insulin delivery devices, changeable regulatory environments, and economic factors are overcome by product innovation, home care settings, government programs, health initiatives, and expansion in emerging markets. Some current trends in the insulin syringes market are increasing demand for reusable and eco-friendly products, personalization and patient-centric design, wider adoption of smart insulin delivery systems, and expansion of e-commerce distribution.

Insulin Syringes Market Key Developments:

• In April 2022:  BD (Becton, Dickinson and Company) a leading global medical technology company, announced that it has completed its spinoff of Embecta Corp, which holds BD's former Diabetes Care business and is now one of the largest pure-play diabetes management companies in the world. 
• In October 2022: Terumo Pharmaceutical Solutions, or TPS, a medical technology company belonging to Terumo Corporation manufactures primary container, injection, and infusion therapy devices. It launched a ready-to-fill polymer syringe, PLAJEX 2.25 mL with Tapered Needle, targeted at difficult biotech products requiring higher volume.