|01-17-2018 05:57 AM CET - Health & Medicine||
Retractable Needle Safety Syringes Market - Keen Players are Focused on Products & Forecast 2017 – 2025
Press release from: TMR Research
Global Retractable Needle Safety Syringes Market: Overview
FDA safety guidelines has led to the swift uptake of retractable needle safety syringes among healthcare professionals. They are increasingly supplanting conventional syringes with the retractable needle safety syringes. The main unique perceived benefit of retractable needle safety syringe is that they are completely integrated with a proper safety mechanism that withdraw the needle into the barrel of the syringe post the complete delivery of the dose.
After the liquid is expunged, the operator simply needs to exert extra pressure on the plunger to break the seal and withdraw the needle into the syringe. Retractable syringes are considered safe. They also help to save time and bring down the volume of waste, which disposable syringes usually generate.
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The market for retractable needle safety syringes in Asia Pacific is highly consolidated. The leading four players – Smiths Medical, Becton, Dickinson and Co., Retractable Technologies Inc., and Medtronic Plc –accounted for over 95.0% of the overall market in 2015. Success-hungry companies in the region are seen bolstering their distribution networks and forging alliances to further increase their market share.
Global Retractable Needle Safety Syringes Market: Key Trends
At the forefront of driving the market for retractable needle safety syringes in Asia Pacific is the proliferating healthcare industry fuelled by different policy initiatives of the government. Besides, efforts by authorities to promote safe injection practices in India and other nations by collaborating with the WHO to thwart of deadly diseases is also expected to benefit the market significantly.
Technological progress, rising trend of self-administration of drugs, and rising knowledge about the benefits of retractable needle safety syringes are serving to boost their sales too. Retractable needle syringes find application in various indications, namely diabetes, cancer, tuberculosis, etc. As per the findings of Asian Diabetic Prevention Initiative, about 60.0% of diabetics in the world live in Asia. It also expects India and China to have over half a billion diabetics by 2030.
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The market for retractable needle safety syringes, however, is faced with headwinds from the emergence of more sophisticated drug delivery methods. Apart from that, steep cost of the safety syringes are predicted to slow down sales in the next couple of years.
Global Retractable Needle Safety Syringes Market: Market Potential
The two types of retractable safety syringes available in the Asia Pacific market is the automatic retractable needle safety syringes and manual retractable needle safety syringes market. Among the two, the segment of manual retractable needle safety syringes could account for a greater market share vis-à-vis revenue on account of its affordability. Automated retractable needle safety syringes too are expected to see swift uptake on account of their ease of use leading to their rising acceptance. Keen players in the market can focus on both the product types to bolster sales.
Depending upon end-users, the segment of hospital is predicted to emerge as pivotal for the market of retractable needle safety syringes. This is because of the bettering healthcare infrastructure, growing insurance coverage, and rise of technologically superior therapeutic procedures in the region.
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Global Retractable Needle Safety Syringes Market: Regional Outlook
Japan is a considered a promising market in the market for retractable needle safety syringes in Asia Pacific, which will likely clock impressive growth in the next few years. This is because people in Japan are highly aware if the recent novel therapeutics and medical practices and have the ability to spend on advanced treatments. India is another country to watch out for owing to the rising instances of chronic ailments and rising healthcare spending of the government.
Global Retractable Needle Safety Syringes Market: Competitive Dynamics
Prominent participants in the Asia Pacific market for retractable needle safety syringes are Axel Bio Corporation, Retractable Technologies, Inc., DMC Medical Limited, Sol-Millennium, UltiMed, Inc., Medigard Limited, Becton, Smiths Medical, Dickinson and Company, Medtronic plc., Medigard Limited, and Globe Medical Tech, Inc.
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This release was published on openPR.
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