Global Retractable Needle Safety Syringes Market: XXX, Based on end user (Hospitals, Ambulatory Surgical Centers, Blood Collection Centers, Others), and Geography – Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2017 and Forecast 2018-2024
Global Retractable market was valued at US $ XX Mn and expected to grow at 8.9% Compound Annual Growth Rate (CAGR) over the 2018 to 2024.
Market Outline: Retractable Needle Safety Syringes Market
Safety syringes are syringes with inbuilt safety mechanism that prevents reuse of needles. The needle attached to syringes may be removable or permanent. These safety syringes are designed for healthcare workers to avoid needle stick injuries. Retractable needle syringes are a type of safety syringes in which protruding needle is withdrawn into the barrel after the delivery of the dose. Along with safety, some of syringes offers features such as dose sparing technology which ensures minimal waste of medication and prevents medication errors.
Market Dynamics: Retractable Needle Safety Syringes Market
Primary driving factors for retractable needle safety syringes are escalating number of needle stick injuries, rising awareness and growing number of geriatric population who are more prone to diseases such as diabetes and other chronic diseases. Furthermore, increase in prevalence of the infectious diseases around the world such as AIDS, Ebola and Malaria projected to boost market share over the forecast period. According to U.S. Occupational Safety and Health Administration (OSHA), about 5.6 Mn healthcare workers across the U.S. are under the high risk of blood borne diseases via needle stick and sharp related injuries. However, the presence of alternative drug delivery procedures and adoptability of retractable needle safety syringes in emerging countries expected to hamper the market share over the forecast period.
Market Scope: Retractable Needle Safety Syringes Market
Ocular drug delivery technology market is segmented based on product, application, procedure, technology and end user
Based on type, the market is segmented into the following:
- Manual Retractable Needle Safety Syringes
- Automatic Retractable Needle Safety Syringes
Based on end user, the market is segmented into the following:
- Ambulatory Surgical Centers
Market Summary: Retractable Needle Safety Syringes Market
Global retractable needle safety syringes market projected to grow at significant rates owing to the increase in awareness related to meddle stick injuries and growing prevalence of the infectious diseases. Many regulatory bodies around the world has taken initiatives to mandate the use of safety syringes in hospitals to prevent the needle stick injuries. 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 Nigerian government issued a deadline on October 1, 2012 for phasing out of conventional syringes and usage of auto-disable syringes in its health institutions. Market players are adopting various strategies such as mergers and acquisitions to improve their market share. Many market players are advancing the safety syringe technologies by incorporating new features such as dose sparing technology to ensure minimal waste of medication
Regional Analysis: Retractable Needle Safety Syringes Market
Geographically, global retractable needle safety syringes market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America retractable needle safety syringes market is projected to grow at significant rates owing to the launch of biologic products, continuous focus of vaccination and rise in awareness related to needle stick injuries. Furthermore, favorable government regulations and well established healthcare infrastructure expected to boost the North America Market growth. Middle East and Africa retractable safety syringes market is expected to grow at significant rates owing to the high patient population and prevalence of the infections due to the unsafe injection practice. Asia Pacific retractable safety syringes market anticipated to have the fastest growth rate owing to the increase in healthcare expenditure, growing awareness and extensive initiatives by the government and non-government organizations related to immunization and safe usage of the syringes to prevent infections.
Competition Assessment: Retractable Needle Safety Syringes Market
Some of the players in the global retractable needle safety syringes market include:
- Becton, Dickinson & Company (U.S.),
- Medtronic Plc (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.)