According to the WHO studies, around 1.7 million people are infected with hepatitis B virus, up to 315,000 with hepatitis C virus and as many as 33,800 with HIV through an unsafe injection. The WHO has provided new guidelines for injection safety practices to protect the healthcare professional against accidental needle injury and consequent exposure to infection. It has recommended the usage of new “smart” syringes to prevent the reuse and curb the chances of infection spread. According to a study almost 90% of the needle stick accidents can be prevented if the hospital and healthcare facilities use the FDA approved retractable syringes, thus further fuelling the growth of the retractable needle safety syringes market. Thus safety measures and regulation by government and WHO for the use of safety needles, rise in incidence of needlestick accidents and enhanced safety engineered syringes would boast the demand of the retractable needle safety syringes.
The report titled “Retractable Needle Safety Syringes Market - Growth, Future Prospects and Competitive Analysis, 2017–2025” offers strategic insights into the overall retractable needle safety syringes market along with the market size and estimates for the duration 2015 to 2025. The said research study covers in-depth analysis of multiple market segments based on type of product, end users and different geographies. The product types studied for analyzing the overall global retractable needle safety syringes market are majorly segmented into automatic-retractable syringes and manual retractable safety syringes. The global retractable needle safety syringes market is segmented by end users type into hospitals, clinics and ambulatory surgery centers.
Market size and forecast for these regional and country level markets are presented in this study for the period 2015-2025. Market growth rates for the forecast period 2017-2025 are also included in this report, considering 2016 as the base year. Further cross-sectional presented in terms of product, end users and constituent region markets is also included in this section.
Along with quantitative information, qualitative information sets and assessment tools are provided in this study for better analysis of the overall market scenario and future prospects. Information such as market drivers, challenges and opportunities assists the readers for understanding the ongoing trends in the global retractable needle safety syringes market. Tools such as market positioning of key players and attractive investment proposition provide the readers with insights on the competitive scenario of the global retractable needle safety syringes market. This report concludes with company profiles section that highlights major information about the key players engaged in global retractable needle safety syringes market. In-depth competitive environment analysis and historical (2015) market size data are also provided in the report.
Furthermore, this report concludes with profiling of key market players currently enjoying prominent position in the retractable needle safety syringes market. The key players profiled in this report 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.
Based on the type of product, the global retractable needle safety syringes market is segmented as follows:
Manual retractable syringes occupy the large revenue share, thus dominate the global retractable needle safety syringes market. This type of syringe is very similar to conventional one and is cost effective. Automatic retractable syringes market exhibit fast growth in the forecast period. These are considered ideal for FDA-compliant safety purpose, but are expensive due to complicated design and manufacturing process. Healthcare professionals may face problems while applying adequate force to depress the plunger to the base of the barrel for needle retraction that would might act as restrain to the market.
Based on the type of end users, the global retractable needle safety syringes market is segmented as follows:
The WHO provides guidelines for the safety use of syringes to prevent reuse of the injections or prevent needle stick injury in healthcare professionals and avoid further risk of put to it waste to other people due to used syringes. Retractable syringes provide a cost effective solution and replacement to conventional syringes thus further enabling healthcare users and service providers to migrate to safe products. Hospital segment dominates the global retractable needle safety syringes market and is swiftly progressing with WHO guideline for usage of “smart syringes” and FDA approval for retractable syringes to avoid 90% needlestick accidents.
In 2016, North America dominated the retractable needle safety syringes market followed by Europe. Increase in incidence of needlestick accidents, government legislation to follow safety syringe practices, new safety engineered retractable needles approved by the FDA are some of the major factors that fuel the growth of retractable needle safety syringes market in North America. Asia Pacific is anticipated to be the fastest growing market in the forecast period 2017-2025. Rising incidence of infection due to use of unsafe syringe practices, growing healthcare awareness and government initiatives for safe needle usage, improving healthcare infrastructure are contributing to the growth of retractable needle safety syringes market. The WHO “smart” syringe initiative is leading to a paradigm shift from conventional use of syringe to more safety engineered syringes that would lead to high adoption rate in emerging economies further boasting the retractable needle safety syringes market.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Retractable Needle Safety Syringes market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Product
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End-use
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
