Safety Syringes Market by Technology (Retractable, Non-Rectractable, Sliding Needle, Sheathing Tube, Hinged Needle), Threapy (Insulin, Tuberculosis), Type (Attached Needle, Detachable Needles) - Analysis & Global Forecast to 2019
Safety syringes are equipped with an inbuilt safety mechanism and needles that detachable or permanently attached. The safety mechanism is designed to protect healthcare workers from accidental needlestick injuries.
The global safety syringes market is expected to show considerable growth during the forecast period. This is attributed to rising incidence of needlestick injuries, government initiative to incorporate the use of safety syringes in the legislation, favorable reimbursement policies, and enhanced safety mechanisms for syringes. Several countries have introduced regulations to ensure the compulsory use of safety syringes with an aim of decreasing to needle stick injuries and prevent needle re-use. These regulations are expected to cause more common usage of safety syringes as compared to conventional syringes. However factors such as alternative drug delivery methods and high cost are limiting the growth of this market. In addition, the lack of awareness regarding healthcare and safety issues in emerging economies has restricted the market growth in the region.
The global safety syringes market is segmented into four broad categories: by technology, by therapy, by size, and by geography. Based on technology, the market is divided into Retractable Safety Syringes and Non-Retractable Safety Syringes. Retractable Safety Syringes are further segmented into manual and automatic. The Non-Retractable Safety Syringes market is further segmented into sliding needle cover syringes, sheathing tube syringes, and hinged needle cover syringes. The market for Non-retractable safety syringes account for the largest share; however, the retractable safety syringes market is expected to grow at a higher CAGR during forecast period. This is due to growing use in developed nations and preference for automatic retractable safety syringes over manual syringes as they are safer and easy to handle.
The global safety syringes market, by therapy is categorized into insulin, glucagon-like peptide-1 (glp-1), tuberculosis, growth hormones, and others. Based on the type, the global safety syringes market is segmented into syringes with permanently attached needles and syringes with detachable needles.
Geographically, the global safety syringes market is segmented into North America, Europe, Asia and Rest of the World (RoW: Latin America, Pacific Countries, and Middle East & Africa). The high demand for prefilled syringes with safety mechanisms has created a substantial market for safety syringes in North America. However, Asia is the fastest growing market due to growing healthcare awareness, high incidence of diabetes and tuberculosis, and extensive immunization programs initiated by World Health Organization (WHO) and The United Nations Children's Fund (UNICEF).
Some of the major players in the global 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-Millennum (China), Ultimed, Inc. (U.S.), Axel Bio Corporation (U.S.), and others.
Growth opportunities and latent adjacency in Safety Syringes Market