Retractable Safety Syringe Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

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Retractable Safety Syringe Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

Status : May, 2020 | Medical Devices | PPT format

Report Digest


Global Retractable Safety Syringe Market: Overview

Needlesticks have been key cause of sharps injuries to healthcare workers and consequently exposing them to blood-borne pathogens. Tens of thousands of healthcare workers (HCWs) world over have suffered transmission of blood-borne viruses. Most notable of these are hepatitis B virus, hepatitis C virus, and human immunodeficiency virus (HIV). These also have been caused by the reuse of syringes in various healthcare settings. The drive for retractable safety syringes market has evolved in the light of these.

Numerous regional as well as global health agencies have emphasized on the public health concerns of needlestick injuries and their severity. The WHO revealed how three millions of HCWs were suffered blood-borne pathogens from the percutaneous exposure. Another organization the Centers for Disease Control and Prevention (CDC) disclosed how lakhs of workers suffer needlestick injuries every year. In another developed country, such as the U.K., occupational hazards due to needlestick injuries have been cause of sizable mortality. All these statistics point to the large unmet need. The retractable safety syringes market is thus brimming with opportunities. Over the years, the knowledge of clinicians or the proper use of retractable safety syringes has helped the market to evolve.

Global Retractable Safety Syringe Market: Key Developments

Numerous companies manufacturing safety medical devices are relentlessly focused on bringing improvements in automated retraction technology. Companies such as Retractable Technologies, Inc. (RTI) are aiming at bringing constant advancement in engineering controls. This has paved ways to accelerate the design of novel technologies to benefit healthcare workers in the retractable safety syringes market. Several medical device manufacturers are aiming at developing easy-to-use, reliable, and cost-effective retractable safety syringes. To this end, they have benefitted from the use of state-of-the-art equipment. Stringent regulations by regional agencies, notably by the U.S. Food and Drug Administration (FDA), have stimulated them to develop high-performance retractable safety syringes.

Some of the key players aiming for well-entrenched position in the global retractable safety syringes market are Medtronic, Revolutions Medical, Terumo Corporation, Unilife, UltiMed, Inc., Axel Bio, and Becton, Dickinson and Company.

Global Retractable Safety Syringe Market: Growth Dynamics

Increasing incidence of needlestick injuries per healthcare worker is a key aspect in the evolution of the market. Growing demands for safety engineered injection devices for preventing needlestick injuries among healthcare practioners is a key factor propelling the demands in the retractable safety syringes market. They play a key role in various healthcare settings. Rising demands for these devices in subcutaneous, intradermal, and intramuscular injections is boosting the market. Growing body of research in evaluating the effectiveness in safety syringes in preventing blood-borne infections among healthcare providers and clinicians has helped in the expansion of the market.

The popularity of disposable automatic retractable safety syringe in numerous healthcare settings is growing. Growing awareness about the safety protocols pertaining to occupational hazards among clinicians particularly in developing economies of the world imparts a big fillip to the demand in the retractable safety syringes market.

Global Retractable Safety Syringe Market: Regional Analysis

Some of the prominent regions in the retractable safety syringes market are North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Of these, North America has witnessed a spate of state-of-the-art safety medical devices technologies, thereby reinforcing the regional prospects. Growing numbers of research and development activities by several medical device manufacturers are also helping the expansion of the North America retractable safety syringes market. On the other hand, Asia Pacific is especially promising regional market. Over the past few years, the market has seen vast potential from growing adoption of safety devices in preventing various occupational hazards among healthcare workers in its key economies.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.

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