openPR Logo
Press release

Global Safety Syringes Market to Register a CAGR of 9.70% from 2013 to 2019 due to Increasing Adoption in Healthcare Sector

09-20-2016 03:43 PM CET | Health & Medicine

Press release from: TMR - Research Reports

Global Safety Syringes Market to Register a CAGR of 9.70% from

The competitive landscape of the global safety syringes market is highly consolidated with the presence of a few key players, observes Transparency Market Research (TMR). These are Becton, Dickinson & Company, Smiths Medical, Retractable Technologies Inc., Revolutions Medical Corporation, Covidien plc, Terumo Corporation, and Unilife Corporation.

Download Free Exclusive Sample of this Report:

“Acquisitions and alliances are the focus of key players in the market to supplement internal growth with the objective to boost revenue growth”, says the lead author of the study. A case in point is, in December 2012, Becton, Dickinson & Company acquired Safety Syringes Inc. This led the former to strengthen its market position while also expanding its product portfolio.

An increasing number of investments in high-impact areas is another key growth strategy adopted by key players in the global safety syringes market. Companies are strategizing to invest heavily in sales and marketing at the global level. Top players in this market are also focused on research and development to develop newer safety syringes and needle devices with automated retraction.

Government Mandates for Safety Mechanism of Syringes Favor Market Growth

“The increasing number of needlestick injuries is the major factor driving the global safety syringes market”, says lead analyst of the study. According to the World Health Report 2002 analyzed by the World Health Organization, of the 35 million healthcare workers worldwide, almost 2 million undergo percutaneous exposure to infections every year. An increasing number of blood borne diseases such as hepatitis C, diphtheria, herpes, tuberculosis, hepatitis B, typhus, and malaria.

The continuous growth in the injectable drugs market is another major factor driving this market. This is because injectable drugs market is likely to display demand for drug delivery devices for drug administration that has been designed keeping up with safety requisites. Governmental legislations that require manufacturers to develop syringes equipped with safety mechanisms is also driving the global safety syringes market.

Price Factor Leads to Limited Use in Developing Nations

“The high cost associated with safety syringes is one of the major factors holding back the growth of the safety syringes market,” says the author of the study. According to the International Council of Nurses (ICN), a retractable safety syringe costs more than two times than a normal syringe. This factor is more prominent in developing nations such as China, India, and Brazil where healthcare providers tend to avoid spending money on safety syringes. Healthcare providers in these regions believe that needlestick injuries can be prevented by training healthcare workers to use normal syringes safely.

The growth of the safety syringes market is also impeded due to the rising popularity of non-invasive drug delivery techniques and continued development in alternate drug delivery technology that may be used in place of injectable drug delivery.

The global safety syringes market will be valued at US$6.5 bn by 2019.

Non-retractable safety syringes account for the larger share of the market on the basis of product. In 2012, non-retractable safety syringes held the larger share of the market both in terms of volume and value.

Browse Research Report:

North America is the largest market for safety syringes. In 2012, North America dominated the global market for safety syringes due to an early adoption of advanced equipment and advanced technology for rendering healthcare services.

The information presented in this review is based on the report, “Safety Syringes Market - Global Industry Analysis, Size, Volume, Share, Growth, Trends and Forecast, 2013 - 2019.”

About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

Contact Us

Transparency Market Research
State Tower,
90 State Street, Suite 700
Albany, NY 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453

This release was published on openPR.

Permanent link to this press release:

Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Global Safety Syringes Market to Register a CAGR of 9.70% from 2013 to 2019 due to Increasing Adoption in Healthcare Sector here

News-ID: 365153 • Views: 446

More Releases from TMR - Research Reports

Pulmonary Drugs Market is Expected to Reach US$ 28,082.1 Million by the End of 2 …
According to the research report, the global pulmonary drugs market is expected to be worth US$ 28,082.1 mn by the end of 2024 as compared to US$ 48,039.7 mn in 2015. Analysts calculate that the global market will plummet at a CAGR of -6.3% during the forecast period of 2016 and 2024. The market will thrive as the demand for combination drugs is anticipated to remain on the rise during
North America Ventricular Assist Device Market is rising to a valuation of US$ 1 …
According to TMR, the opportunity in the North America market for VADs, which stood at US$0.4 bn in 2015, is likely to expand at a healthy CAGR of 9.20% between 2016 and 2024 and increase to US$1.07 bn by the end of the forecast period. The destination therapy (DT) segment has been reporting a greater application of VADs than the other two indication segments. It is expected to remain the
Dental Membrane and Bone Graft Substitutes Market to rise to US$ 922.6 Million b …
Transparency Market Research notes that innovation and expansion into emerging regions have served these companies well in strengthening their hold in the dental membrane and bone graft substitutes market. For instance, Switzerland-based Geistlich Pharma AG - a global manufacturer and supplier of dental products and devices - expanded its operations in Sydney, Australia and New Delhi, India in 2016. The global dental membrane and bone graft substitutes market is expected to
Human Vaccines Market is Estimated to Reach US$ 72.5 Billion by 2024
The global human vaccines market was valued at US$28.3 bn in 2015 and is estimated to reach US$72.5 bn by 2024, registering an 11.2% CAGR during the forecast period. By age group, pediatric vaccines accounted for a 57.5% share in the global human vaccines market in 2015. Adult vaccines, on the other hand, are expected to expand at a 13.2% CAGR from 2016 to 2024. Based on product, the pneumococcal segment

All 5 Releases

More Releases for Safety

Mobile Safety Software
The rising popularity of mobile applications is one of the key factors responsible for the strong growth of this market during the forecast period of 2017 to 2021. It has been noted that mobile apps, such as WhatsApp, Snapchat, Facebook, YouTube, and Gmail, have gained popularity among the millennials since the past few years. Business applications, such as e-mail, calendars, and teleconferencing applications, are available for free and offer an
Airport Runway Safety System
Runway safety involves safe and reliable. Airport runway safety systems ensures safe and reliable flight operations from take-off to landing through providing guidance to ATCs and pilots. This is done by analyzing the detected data of runways and taxiways to take necessary steps in action while avoiding runway incursions, excursions, and confusions. Publisher's analysts forecast the global airport runway safety system market to grow at a CAGR of 8.53% during the
Road Safety Market
Numerous systems, devices, and technologies are leveraged to ensure safety on highways, bridges, tunnels, and urban roads. Together they constitute the global road safety market, which at present is characterized by the presence of many players both from the private and public sectors. As a result, the competitive landscape is fragmented. Depending upon the different solutions for road safety available, the global market can be classified into automatic license plate
Safety first
When working on machines, keeping employees safe is of the utmost importance. Certain regulations ensure machine safety. In Germany, for example, this is called the "Regulation regarding safety and health protection in using work equipment." In other countries, similar regulations are effective, according to which the potential hazards of a machine are regularly assessed and the necessary and appropriate safety measures are derived. Do your safety standards meet the requirements? And
Capital Safety Australia
Fall protection for penetrations and openings in construction, civil and confined space applications! DBI-SALA, a Capital Safety brand solely dedicated to the fall protection market, has announced the launch of their NEW PenoGuard™ fall protection system. PenoGuard is a new and revolutionary safety device that dramatically increases the safety of workers around penetrations that are commonly seen in construction, civil works and confined space applications. Penoguard has numerous safety factors that
Safety of Australian ETFs
BlackRock’s (NYSE: BLK) exchange traded fund business, iShares, said today that Australia’s young exchange traded fund (ETF) market and stringent regulatory system are keeping Australia’s ETFs relatively simple and straightforward. There are 50 ETFs currently trading on the Australian Securities Exchange (ASX) – the majority are based on the traditional ETF structure of a fund of physical stocks, in comparison to more complex ETF structures such as derivatives-based, leveraged and inverse