Press release
Safety Syringe Market Size, Trends And Outlook By 2033
Safety Syringe Market Size
According to The Business Research Company's, The safety syringe market size has grown strongly in recent years. It will grow from $8.19 billion in 2023 to $8.95 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to needlestick injury concerns, regulatory mandates, increased adoption of safety measures, increasing prevalence of blood-borne diseases, growing healthcare infrastructure.
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Market Drivers and Trends:
The rising number of blood-borne diseases is expected to propel the growth of the safety syringe market going forward. A blood-borne disease is an infectious disease caused by microorganisms, such as bacteria, viruses, or parasites, that are transmitted through the blood. The use of safety syringes is a proactive measure to protect healthcare workers and patients from the risks associated with blood-borne diseases by reducing the likelihood of accidental exposures and promoting best practices in medical procedures. For instance, in September 2023, according to Contagion Live, a US-based news source, the blood-borne infection rates increased by 14% in 2020-2021, and there were 5023 confirmed cases of hepatitis C virus (HCV), with an estimated 69,800 infections. Further, around 43 states in the US also reported 107,540 newly diagnosed cases of HCV. Therefore, the rising number of blood-borne diseases is driving the growth of the safety syringe market.
Major companies operating in the safety syringe market are developing new products, such as passive needle guards, to gain a competitive edge in the market. A passive needle guard is a safety feature integrated into a medical device, such as a syringe, to enhance safety during and after use. For instance, in November 2021, Becton, Dickinson, and Company, a US-based medical device company, launched the BD UltraSafe Plus 2.25 mL Passive Needle Guard, an innovative addition to its drug delivery systems. This new solution extends the capabilities of the BD UltraSafe Plus needle guard platform, allowing the subcutaneous delivery of biologic solutions with volumes up to 2 mL and viscosities up to 30 cP. The design aims to address challenges related to the increasing viscosity and injection volume of biologics, providing a patient-controlled injection option for complex, high-viscosity drugs. The BD UltraSafe Plus 2.25 mL is designed to enhance the self-injection experience for patients, caregivers, and healthcare providers. The system aligns with the BD Neopak 2.25 mL Glass Prefillable Syringe, providing support for bio-pharmaceutical drug launches with convenience and ease of use.
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Major Key Players of the Market:
Cardinal Health Inc., Retractable Technologies Inc., Thermo Fisher Scientific Inc., Medtronic plc, Novo Nordisk A/s, Becton, Dickinson and Company, Baxter International Inc., Boston Scientific Corporation, Medline Industries LP, Terumo Corporation, B. Braun Melsungen AG, West Pharmaceutical Services Inc., Fresenius Kabi AG, Nemera, Smiths Medical International Ltd., Nipro Medical Corporation, Henke-Sass Wolf GmbH, Revolutions Medical iNC., Sol-Millennium Inc., UltiMed Inc., Unilife Corporation, AdvaCare Pharma, Axol Bio Corporation, Vita Needle Company, Numedico Technologies Pty Ltd., Duopross Meditech Corporation, DMC Medical Ltd., Guangdong Haiou Medical Apparatus Co. Ltd., Kendall Healthcare Group Ltd.
Safety Syringe Market 2024 Key Insights:
• The safety syringe market is expected to grow to $12.6 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%.
• Surge in Blood-Borne Diseases Accelerates Demand for Safety Syringes in Healthcare
• Product Innovations Transforming The Safety Syringe Market
• North America was the largest region in the safety syringes market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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