According to the latest market report published by Credence Research, Inc. “Retractable Needle Safety Syringes Market – Growth, Future Prospects, and Competitive Analysis, 2017 – 2025,” the global retractable needle safety syringes market was valued at US$ 1,345 Mn in 2016, and is expected to reach US$ 2,345.7 Mn by 2025, expanding at a CAGR of 6.1% from 2017 to 2025
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According to WHO studies, almost 16 billion injections are administered every year; out of which a majority i.e. 90% is given in curative care. General trend of unsafe syringe practice is observed all over the world, especially in developing countries, which has led to transmission of infection amongst the patient and healthcare professional. Though the exact data is not available for disease burden associated with unsafe and reuse of syringe practices, but it would lead to disease such as haemorrhagic fevers such as Ebola and Marburg viruses, bacterial infection, malaria, and others. The WHO has set guidelines for safe practice of syringe usage and developed a global campaign to promote injection safety. These safety guidelines would help to protect health workers against needle stick accidents and further exposure to infection. The guidelines have also recommended the usage of new “smart” syringes that would prevent reuse, urging countries to transition by 2020. Introduction of cost effective safety engineered syringes would drive the growth of the retractable needle safety syringes.
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The global retractable needle safety syringes market is segmented by product type into manual retractable syringes and automatic-retractable safety syringes. Manual retractable syringes dominate the retractable needle safety syringes, due to their wide usage and cost effectiveness. The market is also segmented by end users into hospitals, clinics and ambulatory surgery centres. Hospitals dominate the global retractable needle safety syringes market and is rapidly growing with WHO guideline for usage of “smart syringes”
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As of the current market scenario, North America dominated the global retractable needle safety syringes market followed by Europe. Factors contributing to the growth of North America includes government initiative and regulation for safety practices, rise in incidence of needlestick injury and enhanced safety needles. Asia Pacific is the fastest growing retractable needle safety syringes market in forecast period.
Market Competition Assessment:
Key players in the global retractable needle safety syringes market are Axel Bio Corporation, Becton, Dickinson and Company, DMC Medical Limited, Globe Medical Tech, Inc., Medtronic Plc, Medigard Limited, Retractable Technologies, Inc., Smiths Medical, Sol-Millennium, UltiMed, Inc. and others.
Key Market Movements:
– Awareness about infection risk due to unsafe practices of syringe and its reuse has led to usage of safety syringes by the healthcare workers to avoid needle stick accidents
– WHO guidelines and recommendations for safety practice and usage of syringes to protect health workers against accidental needle injury and subsequent exposure to infection
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