Safety Syringes Market | Size | share | Forecast 2018 - 2024
Safety Syringes Market: Market Growth, Size, Share, Trends, Key Players, Competitive Intelligence 2013 to 2017 and Forecast 2018 to 2024
Safety Syringes Market report offers Market Size, Dynamics, Regional Market Share, Top Key Players, Latest trends, Growth factors, Industry Stats, Historic Market, Business Intelligence, Business Research Reports, Competitive Intelligence 2013 to 2017 and Forecast 2018 to 2024
Increased incidents of needle stick injuries, government initiations to promote the use of safety syringes are prime factors for growth of safety syringes market worldwide. According to the U.S. Occupational Safety and Health Administration (OSHA), approximately 5.6 Mn healthcare workers across the U.S. are high risk of exposure to blood borne diseases via needle stick and other sharp related injuries. Furthermore, technological innovations and additional feature offerings such as dose sparing technology furthermore driving the growth of safety syringes market. However, availability of the alternatives drug delivery methods, low of awareness in use of safety syringes are hindering the market growth rate. In addition to this, high cost of safety syringes and adaptability issues in emerging markets are expected to further hamper the market growth. In emerging economies healthcare providers believe that, by providing training to the healthcare workers, needle stick injuries can be prevented rather than spending money on purchasing safety syringes.
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Safety syringes market segmented based on type of syringe and end-user
Based on type of syringe, safety syringes market is segmented into
- Retractable Safety Syringes
- Manual Syringes
- Automatic Syringes
- Non-Retractable Safety Syringes
- Hinge Needle Cap Syringes
- Sheathing Tube Syringes
- Sliding needle Cap Syringes
Based on end-user, safety syringes market is segmented into
- Hospitals
- Ambulatory Surgical Centres
- Clinics
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Safety syringes market is showing a considerable growth with significant CAGR during forecast period. Many government organizations, WHO, and regulatory bodies of respectable countries issued legislations for compulsory use of safety syringes. For instance in U.S. Needle stick Safety and Prevention Act was enforced in 2001 to prevent the needle stick injuries and promoting the safety injectors. Similarly, The Nigeria government issued a deadline on October 1, 2012 for phasing out of conventional syringes and usage of auto-disable syringes in its health institutions. Adopting new technologies and diversifying their products are the key market strategies used by the safety syringe market players. Acquisitions and mergers are also key market strategies in safety syringes market. In December 2012, Becton, Dickinson and Company (BD), acquired Safety Syringes, Inc., a company that specialised in the development of anti-needle stick devices for prefilled syringes.
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Geographically safety syringes market has been segmented into following regions viz. North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Due to various factors like awareness in needle stick injuries, launch of biologic products, continuous focus on vaccination, and awareness about hospital acquired infections in healthcare professionals and well-developed infrastructure made U.S. constitute more market share in global safety syringes market. Asia-pacific region has expected to show significant growth because of increased healthcare expenditure, awareness of healthcare professionals. In addition, to this extensive immunisation initiatives taken by WHO and UNICEF in the Asian region is likely to boost the market growth in Asia- Pacific region. Middle East and African regions have high opportunity for growth owing to the populace strength. African countries have high incidence of infections due to unsafe injection practices. With proper awareness programs about safety syringes in these regions can create significant growth opportunity for the companies to capitalise on, provided they come at an affordable prices.
Some of the players in safety syringes market are Becton, Dickinson & Company (U.S.), Medtronic (U.S.), Revolutions Medical Corporation (U.S.), Retractable Technologies, Inc. (U.S.), Royal Imtech N.V. (Smiths Medical) (Netherlands), Terumo Corporation (Japan), Unilife Corporation (U.S.), Sol-Millennium Medical Group (China), Ultimed, Inc. (U.S.), and Axel Bio Corporation (U.S.) to name a few.
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