Safety Syringes Market is expected to reach US$ XX Bn by 2027 at a CAGR of 8.5 % during the forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
The Safety Syringes is a medical device used to 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 costs may hamper the growth of the market.
According to the technology, the retractable and non-retractable segment is expected to be the fastest-growing segment on account of 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 the rising adoption of technology advancement.
Region-wise, the North America region is expected to grow at the highest CAGR during the forecast period because of 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. Moreover, the APAC region is expected to grow at the highest CAGR during the forecast period attributable to the reason being the presence of huge market players and raising awareness among healthcare professionals related to needlestick injuries.
In the safety syringes market, Dickinson & company hold the leadership position thanks to production capacity expansion, brand portfolio expansion, collaborations, M&A. 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.
The objective of the report is to present a comprehensive analysis of the Safety Syringes Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by Region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by Region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Safety Syringes Market dynamics, structure by analyzing the market segments and project the Safety Syringes Market size. Clear representation of competitive analysis of key players by Type, price, financial position, Product portfolio, growth strategies, and regional presence in the Safety Syringes Market make the report investor’s guide.
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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