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Retractable Needle Safety Syringes Market is registering a healthy 9.1% CAGR between 2016 - 2024
Read Report Overview: https://www.transparencymarketresearch.com/asia-pacific-retractable-needle-safety-syringes-market.html
These enterprises that are focusing quite aggressively on making an expansion of their business operations across the said region, for which they are adding considerable strength to their network of distribution. In addition to that, they are also involving themselves with strategic alliance so as to gain a strong foothold in the said market.
In accordance with the research by Transparency Market Research (TMR), the market for retractable needle safety syringes in the region of Asia Pacific stood at around US$ 236.7 mn in the year 2016. Expanding at an impressive CAGR of 8.90% over the period of forecast that extends from the year 2016 to the year 2024, the opportunity in the said market is estimated to reach a valuation of around US$ 467.2 mn by the end of the period of forecast. The segment of hospitals has come up as the leading end user of the market for retractable needle safety syringes in the region of Asia Pacific. Owing to the soaring insurance coverage, this segment is likely to remain the major contributor to this market in the years to come.
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Japan to Continue with its Dominance throughout the Period of Forecast
Taking region into consideration, Japan is expected to emerge as the dominant market for retractable needle safety syringes in the region of Asia Pacific. Growing at a robust rate of growth of 9.1% CAGR, the country is estimated to continue with dominance through the course of the period of forecast. Consumers in Japan are more aware and this has led to the earlier adoption of medical practices and novel therapeutics. This, together with the expanding base of geriatric population, increased willingness to spend on advanced treatments, and the soaring incidence of diabetes have thereby generated a fertile terrain for the said market to thrive in Japan. Besides, opportunities are very likely to bolster in the said market in India as well.
Increased Awareness Amongst People to Stimulate Market Growth
With various government institutions focusing on the promotion of safe injection practices by inspiring people to make a shift to safe syringes, this market is expected to rise exponentially in the years to come. Countries such as India and other nations in the Southeast Asia are more and more collaborating with the WHO so as to encourage the utilization of safe syringes in a bid to avoid the proliferation of deadly diseases.
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Apart from this, the market is also anticipated to gain substantially over the period of forecast from numerous factors, like the growing awareness pertaining to the benefits offered by retractable needle safety syringes, increasing shift of people towards self-administration of drugs, and technological advancements.
About us:
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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NY - 12207
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Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com/
About us:
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
Contact us:
Transparency Market Research
90 State Street,
Suite 700,
Albany
NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com/
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