Safety Syringes Market is expected to reach US$ 13.5 Bn by 2026 at a CAGR of 8.5 % during the forecast period. The Safety Syringes is a medical device that used by help protect healthcare workers from accidental needlestick injuries.
Safety syringes consist of an inbuilt safety mechanism and either a detachable or permanently attached needle. These devices are widely used in hospitals, clinics, & cardiac centers, and pre-hospital. A rising incidence of needlestick injuries, a government initiative to incorporate the use of safety syringes in the legislation, favorable reimbursement policies, and enhanced safety mechanisms for syringes would create commercial market opportunities. High prevalence of chronic diseases such as diabetes is one of the major factors projected to fuel the growth of the safety syringes market during the forecast period. Alternative drug delivery methods and high cost may hamper the growth of the market.
Safety Syringes market is segmented by technology, therapy, material, and region. Among technology, the retractable and non-retractable segment is expected to be the fastest-growing segment owing to an increase in technological advancements in safety syringes, a rise in trend of self-administration of insulin and surge in the prevalence of diabetes. Among therapy, insulin and tuberculosis is considered an attractive market segment and is expected to hold a significant share of the market in the coming years.
Growth can be attributed to factors such as rising adoption of technology advancement. Among regions, the North America region is expected to grow at the highest CAGR during the forecast period due to industrialization, technological advancements, augmented demand from various healthcare sectors, mounting government expenses on healthcare, and rise in the aged population. The high demand for prefilled syringes with safety mechanisms has created a substantial market for safety syringes in North America. The APAC region is expected to grow at the highest CAGR during the forecast period due to the reason being the presence of huge market players and raising awareness among healthcare professionals related to needlestick injuries.
The key players of the Safety Syringes market include Becton, Dickinson & Company (U.S.), Covidien plc (Ireland), Revolutions Medical Corporation (U.S.), Retractable Technologies, Inc. (U.S.), Smiths Medical (U.K.), Terumo Corporation (Japan), Unilife Corporation (U.S.), Sol-Millennium (China), Ultimed, Inc. (U.S.), Axel Bio Corporation (U.S.), and others. In the Safety Syringes market, Dickinson & company hold the leadership position due to production capacity expansion, brand portfolio expansion, mergers, collaborations, and acquisitions. Over the past three years, the company has adopted new product launches, product enhancements, and geographic expansion as its crucial business plans to certify its dominance in this market.
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The Scope of the Safety Syringes Market report:
Safety Syringes Market, by Technology
• Retractable
• Non-Retractable
• Sliding Needle
• Sheathing Tube
• Hinged Needle
Safety Syringes Market, by Therapy
• Insulin
• Tuberculosis
Safety Syringes Market, by Material
• Attached Needle,
• Detachable Needles
Safety Syringes Market, Region
• North America
• Europe
• APAC
• Latin America
• MEA
Key Players Safety Syringes Market
• Becton
• Dickinson & Company
• Covidien plc
• Revolutions Medical Corporation
• Retractable Technologies, Inc.
• Smiths Medical
• Terumo Corporation
• Unilife Corporation
• Sol-Millennum
• Ultimed, Inc.
• Axel Bio Corporation
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