Safety Syringes Market Size by Technology, Therapy, Material and Region – Segment-Level Market Assessment, Growth Opportunity Analysis, Competitive Mapping & Forecast to 2029
Overview
Safety Syringes Market size is expected to grow at a CAGR of 8.5% throughout the forecast period, reaching nearly US$ 10.71 Bn. by 2029.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
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Safety Syringes Market Overview:
The Safety Syringe is a medical device used to help protect healthcare workers from accidental needle stick injuries. Safety syringes consist of an inbuilt safety mechanism and either a detachable or permanently attached needle. These devices are widely used in hospitals, clinics, & cardiac centers, and pre-hospital.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
A rising incidence of needle stick injuries, a government initiative to incorporate the use of safety syringes in the legislation, favourable reimbursement policies, and enhanced safety mechanisms for syringes would create commercial market opportunities. High prevalence of chronic diseases such as diabetes is one of the major factors projected to fuel the growth of the safety syringes market during the forecast period. Alternative drug delivery methods and high costs may hamper the growth of the market.
Safety Syringes Market Segment Analysis:
According to the technology, the retractable and non-retractable segment is expected to be the fastest-growing segment on account of an increase in technological advancements in safety syringes, a rise in trend of self-administration of insulin and surge in the prevalence of diabetes.
Among therapy, insulin and tuberculosis is considered an attractive market segment and is expected to hold a significant share of the market in the coming years. Growth can be attributed to factors such as the rising adoption of technology advancement.
Safety Syringes Market Regional Analysis:
Region-wise, the North America region is expected to grow at the highest CAGR during the forecast period because of industrialization, technological advancements, augmented demand from various healthcare sectors, mounting government expenses on healthcare, and rise in the aged population. The high demand for prefilled syringes with safety mechanisms has created a substantial market for safety syringes in North America. Moreover, the APAC region is expected to grow at the highest CAGR during the forecast period attributable to the reason being the presence of huge market players and raising awareness among healthcare professionals related to needle stick injuries.
In the safety syringes market, Dickinson & company hold the leadership position thanks to production capacity expansion, brand portfolio expansion, collaborations, M&A. Over the past three years, the company has adopted new product launches, product enhancements, and geographic expansion as its crucial business plans to certify its dominance in this market.
The objective of the report is to present a comprehensive analysis of the Safety Syringes Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by Region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by Region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Safety Syringes Market dynamics, structure by analyzing the market segments and project the Safety Syringes Market size. Clear representation of competitive analysis of key players by Type, price, financial position, Product portfolio, growth strategies, and regional presence in the Safety Syringes Market make the report investor’s guide.
Safety Syringes Market, Key Highlights:
• Safety Syringes Market analysis and forecast, in terms of value.
• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Safety Syringes Market
• Safety Syringes Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
• Safety Syringes Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.
• Safety Syringes Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Safety Syringes Market are also profiled.
The Scope of the Safety Syringes Market: Inquire before buying
| Global Safety Syringes Market | |||
|---|---|---|---|
| Report Coverage | Details | ||
| Base Year: | 2021 | Forecast Period: | 2022-2029 |
| Historical Data: | 2017 to 2021 | Market Size in 2021: | US $ 5.57 Bn. |
| Forecast Period 2022 to 2029 CAGR: | 8.5% | Market Size in 2029: | US $ 10.71 Bn. |
| Segments Covered: | by Technology | • Retractable • Non-Retractable • Sliding Needle • Sheathing Tube • Hinged Needle |
|
| by Therapy | • Insulin • Tuberculosis |
||
| by Material | • Attached Needle, • Detachable Needles |
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Safety Syringes Market, by Region
• North America
• Europe
• APAC
• Latin America
• MEA
Safety Syringes Market Key Players
• Becton
• Dickinson & Company
• Covidien plc
• Revolutions Medical Corporation
• Retractable Technologies, Inc.
• Smiths Medical
• Terumo Corporation
• Unilife Corporation
• Sol-Millennum
• Ultimed, Inc.
• Axel Bio Corporation
Kendall Healthcare
•BD
•Medtronic
•Sol-Millennum
•Métier Medical Limited
•Medline
•WEGO
•Classic Medical Tech
Frequently Asked Questions:
1. Which region has the largest share in Global Safety Syringes Market?
Ans: North America region held the highest share in 2021.
2. What is the growth rate of Global Safety Syringes Market?
Ans: The Global Safety Syringes Market is expected to grow at a CAGR of 8.5% during forecast period 2022-2029.
4. Who are the key players in Global Safety Syringes Market?
Ans: The important key players in the Global Safety Syringes Market are –Becton,Dickinson & Company,Covidien plc,Revolutions,Medical Corporation,Retractable Technologies, Inc.,Smiths Medical.
5. What is the study period of Global Safety Syringes Market?
Ans: The Global Safety Syringes Market is studied from 2021 to 2029.