Retractable Needle Safety Syringes Market will be Growing at a CAGR of 6.1% during the forecast period from 2017 to 2025

Posted December 4, 2019 by johnsonpaul

The global retractable needle safety syringes market was valued at US$ 1,345 Mn in 2016, and is expected to reach US$ 2,345.7 Mn by 2025, expanding at a CAGR of 6.1 percent from 2017 to 2025
According to the latest market report published by Credence Research, Inc. “Retractable Needle Safety Syringes Market - Growth, Future Prospects, and Competitive Analysis, 2017 - 2025,” the global retractable needle safety syringes market was valued at US$ 1,345 Mn in 2016, and is expected to reach US$ 2,345.7 Mn by 2025, expanding at a CAGR of 6.1 percent from 2017 to 2025

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Market Insights

According to WHO studies, almost 16 billion injections are administered every year, the majority of which is 90 per cent in curative care. There is a general trend of unsafe syringe practice around the world, particularly in developing countries, which has led to the transmission of infection between patients and healthcare professionals. Although the exact data for disease burden associated with unsafe and re-use of syringe practices are not available, they would lead to diseases such as haemorrhagic fever such as Ebola and Marburg viruses, bacterial infections, malaria and others.

The WHO has established guidelines for the safe use of syringes and has developed a global campaign to promote the safety of injections. These safety guidelines would help protect health workers from needle stick accidents and further exposure to infection. The Guidelines also recommended the use of new "smart" syringes that would prevent re-use, urging countries to transition by 2020. The introduction of cost-effective safety engineered syringes would drive the growth of retractable safety needle syringes.

The global market for retractable safety needle syringes is divided into manual retractable syringes and automatic retractable safety syringes by product type. Manual retractable syringes dominate retractable safety needle syringes due to their wide use and cost-effectiveness. The market is also segmented by end-users into hospitals, clinics and outpatient centers. Hospitals dominate the global market for retractable needle safety syringes and are rapidly growing with WHO guidelines for the use of "smart syringes"

As of the current market scenario, North America dominated the global retractable needle safety syringes market followed by Europe. Factors contributing to the growth of North America includes government initiative and regulation for safety practices, rise in incidence of needlestick injury and enhanced safety needles. Asia Pacific is the fastest growing retractable needle safety syringes market in forecast period.

Market Competition Assessment:

Key players in the global retractable needle safety syringes market are Axel Bio Corporation, Becton, Dickinson and Company, DMC Medical Limited, Globe Medical Tech, Inc., Medtronic Plc, Medigard Limited, Retractable Technologies, Inc., Smiths Medical, Sol-Millennium, UltiMed, Inc. and others.

Key Market Movements:

- Awareness about infection risk due to unsafe practices of syringe and its reuse has led to usage of safety syringes by the healthcare workers to avoid needle stick accidents

- WHO guidelines and recommendations for safety practice and usage of syringes to protect health workers against accidental needle injury and subsequent exposure to infection

You can get the sample copy of this research by Credence Research here:

Report Scope by Segments

By Product Type

Automatic Retractable Syringes
Manual Retractable Safety Syringes

By End User Type

Ambulatory Surgery Centres

By Geography Segment

North America (U.S., Rest of North America)
Europe (U.K., Germany, France, Rest of Europe)
Asia Pacific (China, Japan, India, Rest of Asia Pacific)
Rest of the World (Middle East & Africa, Latin America)

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Tags Retractable Needle Safety Syringes Market
Last Updated December 4, 2019