According to the research report published by Transparency Market Research, the global safety syringes market was valued at US$3.4 bn in 2012. The market is expected to register a CAGR of 9.70% from 2013 to 2019 to reach a valuation of US$6.5 bn by 2019. This significant growth of the global safety syringes market will be attributable to stringent government regulations and technological advancements. Furthermore, the need to reduce the risk of blood-borne diseases is also contributing towards the growth of the global safety syringes market.
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A safety syringe is a syringe that comes with an embedded safety mechanism that prevents reuse. The needles on these syringes can either be detached or are fixed permanently. However, these needles come with a protective sheath or have a retractable mechanism, to avert the chances of any needlestick injuries to the healthcare workers.
The global safety syringes market is segmented on the basis of the type of product and geography. The types of products in the global safety syringes market are retractable safety syringes and non-retractable safety syringes. Geographically, this market is segmented into Europe, North America, Asia Pacific, and Rest of the World.
Of all the regions, North America is the biggest consumer of safety syringes. This is the result of the extensive adoption of these syringes in the healthcare sector of North America. The growing usage of prefilled syringes in this region is also contributing towards the rise in the revenue and volume of the safety syringes market in North America. Meanwhile, Europe was the second largest consumer of safety syringes in 2012. According to research analysts, the safety syringes market is expected to growth in the U.S. and Europe due to the strong presence of manufacturers.
On the other hand, the safety syringes market in Rest of the World and Asia Pacific is also poised to surge ahead with growing pressure for effective implementation of immunization programs by health bodies governed by the United Nations, such as the United Nations Children’s Fund (UNICEF) and the World Health Organization (WHO).
Some of the key players in the global safety syringes market are Unilife Corporation, Retractable Technologies, Inc., Smiths Medicals, Becton, Dickinson & Company, Smiths Medical, and Terumo Corporation. The research report profiles these key players in the global safety syringes market and thus details the competitive landscape of the market. Furthermore, the report also explains the impact of the regulatory framework as well as an analysis of the financial overview, research and development activities, investment outlook, product portfolio, and business and marketing strategies of the top players in the global safety syringes market.
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