Retractable Needle Safety Syringes Market Size, Share, Growth, Trends, and Global Industry Analysis: By Type (Manual Retractable Needle Safety Syringes, Automatic Retractable Needle Safety Syringes), By End User (Hospitals, Ambulatory Surgical Centers, Blood Collection Centers, Others), and Region

Retractable Needle Safety Syringes Market size was valued at US$ 182.6 million in 2022 and is poised to grow at a CAGR of 7.2% from 2023-2029. 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 Retractable needle syringes are a type of safety syringes in which protruding needle is withdrawn into the barrel after the delivery of the dose. Â Along with safety, some of syringes offers features such as dose sparing technology which ensures minimal waste of medication and prevents medication errors. 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.