The global safety syringes market is expected to show substantial CAGR during the forecast period. Primary reasons for this growth include increase in the incidence of needlestick injuries, government initiative to include the use of safety syringes in the legislation, growing injectables market and improved safety mechanisms for syringes. However, alternative drug delivery methods and high cost are two important factors that could significantly limit the growth of this market. In emerging economies, the safety syringes are neglected due to lack of awareness regarding healthcare and safety issues. A rise in government initiative and healthcare and safety awareness could fuel the growth of this market.
Global Safety Syringes Market by Product Type
The global safety syringes market is segmented according to products into two broad categories: Non-Retractable Safety Syringes and Retractable Safety Syringes. Retractable Safety Syringes are further segmented into manual and automatic syringes. Non-Retractable Safety Syringes are categorized into sliding needle cover syringes, sheathing tube syringes and hinged needle cover syringes. Non-retractable safety syringes account for the largest share of the market; however, retractable safety syringes are expected to grow at a higher CAGR during forecast period due growing use in developed nations. Automatic retractable safety syringes are generally preferred over manual syringes as it is safer and easy to handle.
Global Safety Syringes Market by Geography
Geographically, global safety syringes market is segmented into North America, Europe, Asia-Pacific and LAMEA. North America dominates the global safety syringes market followed by Europe, Asia-Pacific and LAMEA. In North America there is a high demand for prefilled syringes with safety mechanisms. Asia-Pacific has the fastest emerging safety syringes market due to healthcare awareness and immunization programs initiated by WHO and UNICEF.
The key players within the global safety syringes market include Dickinson & Company, Becton, Medical Smiths, Covidien plc, Retractable Technologies, Inc., Kendall Healthcare, Revolutions Medical Corporation, Terumo Corporation and Unilife Corporation. Becton occupies the largest market share followed by Kendall Healthcare. Companies are concentrating on developing effective safety mechanisms which are easy to handle to meet the regulatory requirements.
High Level Analysis
Comprehensive analysis of the global safety syringes market provides an overview of the market and its key concerns. Market segmentation section provides deep-dive analysis of products and geographic segments which would be helpful in understanding niche market trends. Market dynamics include market drivers, restraints and opportunities and would help in simplifying market behavior. Porter’s Five Forces analysis would help strategists to determine market profitability. Rising awareness about the severe consequences
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