About Safety Syringes
Safety Syringes are consist of inbuilt safety mechanism and either a detachable or permanently attached needle. Safety Syringes market is expected to mark significant growth over forecasted period owing to increasing consumers spending on safety awareness, providing delivery methods in developing countries and technological advancement. There has been significant rise in number of people using syringes with figure stood up to 13.5 million in United States alone in 2018, the future for Safety Syringes looks promising. Safety Syringes allows users to generates an enhanced safety mechanisms for syringes and integrate safety syringes than conventional syringes. The major companies are adding more proven technologies systematically and strategically in Asia-Pacific countries as these countries are focused on fastest-growing verticals in the hospitals, clinics and ambulatory surgery centers sector.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 9.1% |
Competition among existing players is due to the Time and Expense Management System market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Time and Expense Management System Market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Safety Syringes market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Becton, Dickinson & Company (United States), Covidien plc (Ireland), Revolutions Medical Corporation (United States), Retractable Technologies, Inc. (United States), Smiths Medical (United Kingdom), Terumo Corporation (Japan), Unilife Corporation (United States), Sol-Millennum (China) and Ultimed, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Axel Bio Corporation (United States), Medtronic plc (Ireland), JMI Syringes & Medical Devices Limited (Bangladesh) and B. Braun Melsungen AG (Germany).
Segmentation Overview
AMA Research has segmented the market of Global Safety Syringes market by Type (Retractable {Automatic, Manual} and Non Retractable {Sliding Needle , Sheathing Tube , Hinged Needle}), Application (Hospitals and Home Care) and Region.
On the basis of geography, the market of Safety Syringes has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Therapy, the sub-segment i.e. Insulin will boost the Safety Syringes market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Needle Type, the sub-segment i.e. Attached Needle will boost the Safety Syringes market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Collaboration and Tie Up Of Leading Players and Rising demand of Safety Syringes at Asia-Pacific regions due to health awareness
Market Growth Drivers:
Rising Incidence of Needle Sticks Injuries Boost the Safety Syringes Market. and Rapid Initiatives from Government Legislation Fuelled up the Market.
Challenges:
Limitation Due to Alternative Drug Delivery Methods are Anticipated to Challenge the Market. and Fluctuation of Raw Materials is Anticipated to Challenge the Market.
Restraints:
Lack of Awareness Regarding Healthcare and Safety Issues Hampers the Market. and High Equipment Cost Associated with Safety Syringes.
Opportunities:
Proliferation of Diabetes and Tuberculosis Leads to Grow the Safety Syringes Market., Extensive Immunization Programs Initiated by WHO and UNICEF. and Favorable Reimbursement Policies by Government.
Market Leaders and their expansionary development strategies
In July 2022, Melville, N.Y.-based Sharps Technology has completed its acquisition of Safegard Medical’s Hungarian syringe manufacturing facility for USD 2.5 million. Sharps plans to add further manufacturing capacity and to use the plant to help supply the growing demand for its smart safety syringes, a global market forecast to reach USD 14 billion by 2026.
In April 2019, B. Braun launched the first FDA-Approved heparin sodium prefilled syringe which is beneficial in providing attached safety needle for subcutaneous and intravenous use in United States.
“According to occupational safety and health administration, its provide "Needlestick Safety and Prevention Act," (NSPA), where its offers several new provisions into its standard, it did not change, but simply amplified, the importance of and requirements for the implementation of engineering controls (e.g., Sharps with Engineered Sharps Injury Protection) in healthcare and similar settings.”
Key Target Audience
Safety Syringes Manufacturers, Safety Syringes Traders, End-Use Market Participants of Different Segments of Safety Syringes, Government and Research Organizations, R&D Institutions and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.