According to the latest market report published by Credence Research, Inc. “Retractable Needle Safety Syringes Market - Growth, Future Prospects, and Competitive Analysis, 2017 - 2025,” the global retractable needle safety syringes market was valued at US$ 1,345 Mn in 2016, and is expected to reach US$ 2,345.7 Mn by 2025, expanding at a CAGR of 6.1% from 2017 to 2025

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Market Insights

According to WHO studies, almost 16 billion injections are administered every year; out of which a majority i.e. 90% is given in curative care. The general trend of unsafe syringe practice is observed all over the world, especially in developing countries, which has led to the transmission of infection amongst the patient and healthcare professional. Though the exact data is not available for disease burden associated with unsafe and reuse of syringe practices, it would lead to diseases such as hemorrhagic fevers such as Ebola and Marburg viruses, bacterial infection, malaria, and others.

The WHO has set guidelines for the safe practice of syringe usage and developed a global campaign to promote injection safety. These safety guidelines would help to protect health workers against needle stick accidents and further exposure to infection. The guidelines have also recommended the usage of new “smart” syringes that would prevent reuse, urging countries to transition by 2020. The introduction of cost-effective safety-engineered syringes would drive the growth of the retractable needle safety syringes.

The global retractable needle safety syringes market is segmented by product type into manual retractable syringes and automatic-retractable safety syringes. Manual retractable syringes dominate the retractable needle safety syringes, due to their wide usage and cost-effectiveness. The market is also segmented by end-users into hospitals, clinics, and ambulatory surgery centers. Hospitals dominate the global retractable needle safety syringes market and are rapidly growing with WHO guideline for the usage of “smart syringes”

As of the current market scenario, North America dominated the global retractable needle safety syringes market followed by Europe. Factors contributing to the growth of North America include government initiative and regulation for safety practices, a rise in the incidence of needlestick injury and enhanced safety needles. The Asia Pacific is the fastest growing retractable needle safety syringes market in the forecast period.

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Key Market Movements:

- Awareness about infection risk due to unsafe practices of the syringe and its reuse has led to the usage of safety syringes by the healthcare workers to avoid needle stick accidents

- WHO guidelines and recommendations for safe practice and usage of syringes to protect health workers against accidental needle injury and subsequent exposure to infection

Company Profiles

Axel Bio Corporation
Becton, Dickinson, and Company
DMC Medical Limited
Globe Medical Tech, Inc.
Medtronic Plc
Medigard Limited
Retractable Technologies, Inc.
Smiths Medical
Sol-Millennium, Inc.
UltiMed, Inc.
Other Notable Player
Market Segmentation

By Product Type

Automatic Retractable Syringes
Manual Retractable Safety Syringes

By End User Type

Hospitals
Clinics
Ambulatory Surgery Centres
Others

By Geography Segment Type

North America (the U.S., Rest of North America)
Europe (U.K., Germany, France, Rest of Europe)
Asia Pacific (China, Japan, India, Rest of Asia Pacific)
Rest of the World (the Middle East & Africa, Latin America)

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Medium Blog: https://medium.com/@kumarganeshtr/retractable-needle-safety-syringes-market-is-expected-to-reach-us-2-345-7-mn-by-2025-3e0b04791c09