Syringes Market Share, Growth, Trends, and Report by 2031

Syringes Market: Overview

The injectable route of administration is quite common for faster delivery of drugs and medication. It is used for various purposes such as diagnosis, prevention, and treatment of diseases. These purposes require safe injectable route of administration to patients. Injectable route of administration should also be safe for healthcare providers to deliver. Safe injection is the method which should be risk free, harmless to patient and provider and should not cause any infection. Safety syringes protect health care providers from needlestick injuries. These are equipped with an inbuilt safety mechanism and needles that are detachable or permanently attached. Various countries have introduced legislation for compulsory usage of safety syringes from prevention of needle stick injuries. This initiative has led to more common use for safety syringes.

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Rise in prevalence of chronic diseases such as diabetes and increase in incidence of needlestick injuries are the major factors boosting the growth of the global safety syringes market. According to the WHO, 3 million accidental needle-stick injuries were reported in 2003, with 37% new hepatitis B cases in health care workers, 39% of new hepatitis C cases, and around 5.5% of new HIV cases.
Moreover, around 422 million people had diabetes across the world in 2016. Increase in health care spending, rise in prevalence of blood borne diseases, and surge in awareness about the benefits of safety syringes drive the global safety syringes market. Preference for other delivery methods in developing countries and lack of awareness about needlestick injuries are the factors restraining the global safety syringes market.

The global safety syringes market can be segmented based on product type, therapy, end-user, and region. In terms of product type, the global market can be bifurcated into retractable safety syringes and non-retractable safety syringes. The retractable safety syringes segment dominated the global market in 2017 due to ease of use, reduced time, and improved safety.

The retractable safety syringes segment can be classified into manual retractable syringes and automatic retractable syringes. The manual retractable safety syringes sub-segment held major share of the retractable safety syringes segment in 2017. The sub-segment is anticipated to continue to dominate the segment during the forecast period owing to lower cost than automatic retractable syringes. Based on therapy, the global safety syringes market can be categorized into insulin, glucagon-like peptide-1 (GLP-1), tuberculosis, growth hormones, and others. Insulin and tuberculosis are lucrative segments due to high incidence of diabetes and tuberculosis. In terms of end-user, the global market can be divided into hospitals, clinics, ambulatory surgical centers, and others. The hospitals segment dominated the global market in 2017 owing to developed infrastructure and technologically advanced therapeutic procedures.

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In terms of region, the global safety syringes market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global market in 2017 and the trend is expected to continue during the forecast period. Well-established health care infrastructure, high number of needlestick injuries, and rise in awareness about prevention of diseases are the major factors driving the safety syringes market in North America. The market in Asia Pacific is projected to expand at the highest CAGR in the next few years due to increase in population, rise in prevalence of diabetes, and surge in awareness about sharp injuries.

The global safety syringes market is highly competitive and fragmented due to presence of major companies. Key players operating in the global safety syringes market include Becton, Dickinson and Company, Boston Scientific Corporation, B. Braun Melsungen AG, NIPRO Medical Corporation, Baxter Healthcare Corporation, Retractable Technologies, Inc., Smiths Medical, Medtronic plc, JMI Syringes & Medical Devices Limited, and Terumo Medical Corporation.

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