Safety Syringes Market Size, Share, Growth
Safety Syringes Market is valued USD $5.48 billion in 2018 and estimated to increase to USD $8.42 billion by 2023 with a CAGR of 8.96%.
Safety Syringes Market Overview:
The injectable route of administration is quite common for a more rapid administration of drugs and drugs. It is used for various purposes, such as diagnosis, prevention, and treatment of diseases. These purposes require an injectable route of administration that is safe for patients. The injectable route of administration should also be safe for health care providers. A safe injection is the method that must be safe, safe for the patient and the provider, and should not cause any infection. Safety syringes protect health professionals from needlestick injuries. These are equipped with an integrated safety mechanism and removable or permanently joined needles. Several countries have passed laws that require the mandatory use of safety syringes to prevent puncture injuries. This initiative has led to the more widespread use of safety syringes.
Safety Syringes Market Drivers and Restraints:
The global safety syringes market is expected to show substantial CAGR during the forecast period. Primary reasons for this growth include an increase in the incidence of needlestick injuries, the government initiative to include the use of safety syringes in the legislation, growing injectables market and improved safety mechanisms for syringes. However, alternative drug delivery methods and high cost are two important factors that could significantly limit the growth of this market. In emerging economies, safety syringes are neglected due to a lack of awareness regarding healthcare and safety issues. A rise in government initiative and healthcare and safety awareness could fuel the growth of this market.
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Report Segmented as:
By Technology:
• Retractable Safety Syringes
• Automatic Retractable Safety Syringes
• Manual Retractable Safety Syringes
Non-retractable safety syringes:
• Sheathing tube syringes
• Sliding needle cover syringes
• Hinged needle cover syringes
By Therapy:
• Insulin
• Glucagon-like Peptide-1 (glp-1)
• Tuberculosis
• Growth Hormones
By End-user:
• Hospitals
• Home Care
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Geographical segmentation of Safety Syringes Market:
Geographically, the global safety syringes market is segmented into North America, Europe, Asia-Pacific, and LAMEA. North America dominates the global safety syringes market followed by Europe, Asia-Pacific, and LAMEA. In North America, there is a high demand for prefilled syringes with safety mechanisms. Asia-Pacific has the fastest emerging safety syringes market due to healthcare awareness and immunization programs initiated by WHO and UNICEF.
Key Market Players of Safety Syringes Market:
Key players operating in the global safety syringes market include Becton, Dickinson and Company, Boston Scientific Corporation, B. Braun Melsungen AG, NIPRO Medical Corporation, Baxter Healthcare Corporation, Retractable Technologies, Inc., Smiths Medical, Medtronic plc, JMI Syringes & Medical Devices Limited, and Terumo Medical Corporation.
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The Scope of the report:
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along with this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed, and the prospects with colossal growth potential identified and debated.
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