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Safety Syringes Market Providing Attractive Opportunities|Global Industry Forecasts 2018

Safety Syringes

Safety Syringes Market By Technology, Therapy, End Users, And By Region - Global Industry Analysis, Size, Share, Growth, Trends, And Forecasts (2018–2023)

Safety Syringes Market is predicted to reach USD $8.42 billion by 2023 from the current value of USD $5.48 billion by 2018 growing at a CAGR of 8.96%.”
— Lead Analyst @ Market Data Forecast

HYDERABAD, TELANGANA, INDIA, July 25, 2018 /EINPresswire.com/ -- Syringes with needles are vital in the spread of some serious infectious diseases like AIDS and Hepatitis. According to the study of World Health Organization in 2017, more than one and a half million people were infected with hepatitis B, 0.32 million got hepatitis C and around 34,000 people affected with HIV infection due to the needle injuries and re-use in healthcare facilities. The study also proposed that the use of safety syringes can avoid more than 90% of the needle stick injuries.

Safety syringes come with a needle that can be removed or attached completely. Some of them also include a covering sheath or a retractable needle to avoid any unnecessary wounds. In order to prevent such injuries and the re-use of syringes, many governments have issued the legislation of using safety syringes in hospitals and other medicinal areas. This initiative has resulted in the replacement of conventional syringes in several nations.

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The spread of blood-borne diseases due to the needle stick injuries in healthcare workers is the main reason for the evolution of safety syringes. Other prominent factors driving the global demand for the market are the growing market of injectables, the government approved legislatures, enhanced safety methods for syringe usage, favorable payback policies, proper disposal methods, avoiding re-use of the needles and innovations in technology.

Safety Syringes Market as per the report of Market Data Forecast, Inc. is predicted to reach USD 8.42 billion by 2023 from the current value of USD 5.48 billion growing at a CAGR of 8.96%.

On the contrast, the high cost involved in the purchase of safety syringes, alternative options to supply drugs to the victims, lack of awareness among healthcare institutes of developing nations, and choice to educate staff on medical procedures rather than utilizing safety syringes may inhibit the expansion of global safety syringes market.

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The full report by Market Data Forecast provides deep insight into the market share, size, analysis, trends and forecasts of global safety syringes market. It also provides the presence of markets in different regions of the world along with the competitive landscape. The worldwide market is separated on the basis of technology, therapy, end-users and geographical regions.

Based on the technology, the safety syringes market is separated into Retractable and Non-Retractable safety syringes. The non-retractable syringes with the types of sheathing tube, sliding needle cover and hinged needle cover account for the highest market share compared to the retractable syringes but the latter is expected to grow at a demanding CAGR in the forecast period. Automatic syringes type of retractable syringes is expected to have more demand in the future than the manual syringes.

Based on therapy where safety syringes are in the application are insulin, Glucagon-like peptide-1 (GLP-1), tuberculosis and Growth Hormones therapy syringes. The increasing rate of diabetes and the intake of insulin is assuredly a booster for the global market.

Based on end-users, the market is classified into hospitals and home care facilities. With the advent of technology, people prefer to have personal healthcare rather than visiting a hospital. The interest to take their medicines without the help of any medical practitioner at home at their convenient time can propel the need for safety syringes.

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Based on geographical distribution, the global safety syringes market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle-East & Africa. North America with a sophisticated healthcare infrastructure, the presence of key market players and the demand for prefilled syringes holds the leading position of the international markets trailed by Europe. However, the Asia Pacific and Latin America will develop with a rapid CAGR owing to the investments from foreign companies in the local markets, raising awareness about hygiene health practices, vast victims’ base and the support from WHO and UNICEF.

The major key players of the safety syringes market are Becton, Kendall Healthcare, Dickinson & Company, Medical Smiths, Unilife Corporation, Covidien plc, Retractable Technologies, Terumo Corporation, Sol-Millennum, Axel Bio Corporation, Revolutions Medical Corporation and few others. The largest portion of the market share was being controlled by Becton, which is immediately followed by Kendall Healthcare.

The scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along with this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.

The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis of prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.

What else? Apart from the syndicated report, our in-house team has an expertise and experience in designing custom reports to meet your specific research needs and assist you in making well-informed decisions.

About Market Data Forecast:
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