Safety Syringes Market Predicted to reach USD $8.42 Billion by 2023 | Major Key Players are Covidien, Retractable Technologies, Becton Dickinson & Company, Terumo Corp, Unilife Corp, Revolutions Medical Corp, Smiths Medical, Sol-Millennium, Axel Bio Corp

Safety Syringes Market Overview:

Over the past decade, there has been a considerable growth in usage of safety syringes over the conventional syringes. Safety syringes consist of an integrated safety that helps to guard healthcare workers against inadvertent needle stick injuries.

Recently, many governments have issued legislation to ensure compulsory use of safety syringes to reduce needlestick injuries and prevent needle re-use. With the introduction of these legislations, there has been an increased use of safety syringes than conventional syringes in recent times. Further, an increase in the incidence of needle stick injuries, growing injectables market and rising demand for safety mechanisms in syringes are propelling the growth of the global safety syringe market. However, availability of alternate drug delivery methods and a high cost of safety syringes are few factors limiting the growth of the global market. In emerging countries, the safety syringes are being ignored due to lack of awareness about healthcare and safety issues. A rise in government initiative and healthcare and safety awareness could improve adaptability of safety syringes.

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Safety Syringes Industry Segment Analysis:

The global safety syringes market can be classified based on technology into Retractable and Non-Retractable safety syringes. Further, the retractable syringes market is segmented into Automatic or Manual syringes. And the non-retractable safety syringes are classified as sheathing tube syringes, sliding needle cover syringes, and hinged needle cover syringes. Non-retractable safety syringes account for the largest share of the market while the retractable safety syringes are expected to nurture at a higher CAGR during the forecast period due to growing use in developed nations. Based on therapy where the safety syringes are employed, the market is sub-segmented into Insulin, Glucagon-like peptide-1 (GLP-1), Tuberculosis and Growth Hormones therapy syringes. Moreover, considering end users, the global safety syringe market is categorized under hospitals and home care.

Safety Syringes Market Size:

According to Market Data Forecast, The Global Safety Syringes Market is estimated at USD $5.48 Billion in 2018 and is predicted to reach USD $8.42 Billion by 2023, growing at a CAGR of 8.96%.

Safety Syringes Market Regional Outlook:

Geographically the global safety syringe market is analyzed under North America, Europe, Asia-Pacific, Latin America & Middle-East and Africa. North America representing the largest share in terms of revenue as well as volume, is witnessing a paradigm shift in usage of safety syringes over traditional syringes. Added to this, the growing demand for prefilled syringes equipped with safety features is also anticipated to drive the market growth in the North American region. In Asia-Pacific, the market is expected to grow due to the ongoing immunization programs supported by the WHO and UNICEF along with increased penetration by the U.S. based companies capitalizing on the growing awareness level regarding the consequences of insecure injection practices.

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Major Key Players:

• Covidien plc,
• Retractable Technologies Inc,
• Becton, Dickinson & Company,
• Terumo Corporation,
• Unilife Corporation,
• Revolutions Medical Corporation,
• Smiths Medical,
• Sol-Millennium,
• Ultimed Inc.,
• Axel Bio Corporation

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Reasons to Purchase this Report:

• Current and future global Antivenom Market outlook in the developed and emerging markets
• Analysis of various perspectives of the market with the help of Porter’s five forces analysis
• Identifying the segment that is expected to dominate the market
• Regions that are expected to witness the fastest growth during the forecast period
• Identify the latest developments, market shares, and strategies employed by the major market players
• 3-month analyst support, along with the Market Estimate sheet (in Excel)

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