According to our report, the size of the Global Safety Syringes Market is estimated at USD 5.48 Billion in 2019 and is predicted to reach USD 8.42 Billion by 2024, growing at a CAGR of 8.96%.
Over the past decade, there has been considerable growth in the usage of safety syringes over conventional syringes. Safety syringes consist of an integrated safety that helps to guard healthcare workers against inadvertent needle stick injuries.
Market Drivers
Recently, many governments have issued legislation to ensure the compulsory use of safety syringes to reduce needlestick injuries and also prevent needle re-use. With the introduction of these legislations, there has been an increased use of safety syringes than conventional syringes in recent times. Further, an increase in the incidence of needlestick injuries, growing injectable market and rising demand for safety mechanisms in syringes are propelling the growth of the global safety syringe market.
Key Challenges
However, the availability of alternative drug delivery methods and a high cost of safety syringes are few factors limiting the growth of the global market. In emerging countries, safety syringes are being ignored due to a lack of awareness about healthcare and safety issues. A rise in government initiative and healthcare and safety awareness could improve the adaptability of safety syringes.
Opportunities
Growth opportunities for the market lie in the adoption of advanced technology and also launch of various devices in favor of the end-users. Increasing investments in the hospitals by the government is also likely to bolster the demand of the market. Furthermore, increasing demand to promote awareness over the use of disposable devices and also to prevent needle stick injuries accidentally is prompting the demand for the safety syringes market.
This research report on the Global Safety Syringes Market has been segmented and sub-segmented into the following categories and analyzed market size and forecast for each segment until 2024.
Safety Syringes Market – By Technology
Based on the technology, the Retractable safety syringes segment is leading with the highest shares of the market. The rise in the utilization of the safety syringes in many applications is likely to outshine the demand of the market.
Safety Syringes Market – By Therapy
By therapy, the Insulin therapy segment is holding prominent shares of the market. An increasing number of patients with diabetes and demand to have proper management of glucose levels by checking regularly is anticipated to fuel the growth rate of this segment.
Safety Syringes Market – By End-User
On the basis of end-user, the Hospitals sector is growing tremendously from the past decade and is also to have the same growth rate in foreseen years. Increasing geriatric population and rise in the patients flow to hospitals is boosting up the growth of the market.
Safety Syringes Market – By Region
Regionally, North America representing the largest share in terms of revenue as well as volume is witnessing a paradigm shift in usage of safety syringes over traditional syringes. Added to this, the growing demand for prefilled syringes equipped with safety features is also anticipated to drive the market growth in the North American region. In Asia-Pacific, the market is expected to grow due to the ongoing immunization programs supported by the WHO and UNICEF along with increased penetration by the U.S. based companies capitalizing on the growing awareness level regarding the consequences of insecure injection practices.
Notable companies playing a crucial role in the Global Safety Syringes Market are:
This report offers:
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 New Developments
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 By Technology
5.1.1 Retractable safety syringes
5.1.1.1 Automatic retractable safety syringes
5.1.1.2 Manual retractable safety syringes
5.1.2 Non-Retractable safety syringes
5.1.2.1 Sheathing tube syringes
5.1.2.2 Sliding needle cover syringes
5.1.2.3 Hinged needle cover syringes
5.2 By Therapy
5.2.1 Insulin
5.2.2 Glucagon-like peptide-1 (glp-1)
5.2.3 Tuberculosis
5.2.4 Growth hormones
5.3 By End User
5.3.1 Hospitals
5.3.2 Home Care
6. Geographical Analysis
6.1 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.2 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.3 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 South Korea
6.3.6 Australia
6.4 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Mexico
6.4.4 Argentina
6.5 Middle East & Africa
6.5.1 Introduction
6.5.2 Saudi Arabia
6.5.3 UAE
6.5.4 Qatar
6.5.6 South Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Becton, Dickinson & Company
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Strategic Evaluation and Operations
8.1.4 Financial analysis
8.1.5 Legal issues
8.1.6 Recent Developments
8.1.7 SWOT analysis
8.1.8 Analyst View
8.2 Covidien plc
8.3 Revolutions Medical Corporation
8.4 Retractable Technologies, Inc.
8.5 Smiths Medical
8.6 Unilife Corporation
8.7 Terumo Corporation
8.8 Sol-Millennum
8.9 Ultimed, Inc.
8.10 Axel Bio Corporation
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Expert Opinions
10.1 Market Outlook
10.2 Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
