Safety Syringes Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3336
Safety Syringes Market is projected to experience significant growth from 2019 to 2025.
Increasing advancements in technology will lead to a significant growth in the safety syringes market. Moreover, the safety syringes market is consolidated in nature and key industry players such as Becton Dickinson and Terumo Corporation have invested in developing syringes posing less threat of infections transferred through blood. Adoption of advanced technology to manufacture syringes that are beneficial in reducing the mortality rates due to infections have boosted the industry growth.
Growing prevalence of chronic diseases such as diabetes and cancer have increased the demand for safety syringes. For instance, 425 million people in India suffer from diabetes and around 2.5 million people have cancer, hence escalating the demand for safety syringes. Retractable safety syringes provide additional benefits such as operational flexibility, well-versed locking and reduced complexity that increases its preference amongst the doctors and physicians.
In addition to the aforementioned factors, the safety syringes industry growth can be attributed to the increasing geriatric population more susceptible to chronic diseases. For instance, in 2014, more than 33% of the Japanese population was in the age group of 60 years and above and majority of them suffer from chronic disorders and hospital acquired infections propelling the industry growth. Moreover, low costs of the safety syringes prove beneficial for the geriatric population with affordability issues driving the business growth.
Despite of various growth opportunities, the industry growth can be hampered due to presence of stringent government regulations. These government regulations hamper the operational capabilities of the manufacturers and reduce the availability of syringes, thereby impacting the industry growth.
Retractable safety syringes held an enormous share as of 2018, owing to the escalating adoption rates in various hospitals as well as other healthcare facilities such as ambulatory surgical centers. Increase in the adoption rates of these syringes can be attributed to the operational ease and convenience provided by these syringes enhancing the performance of surgical procedures stimulating the business growth.
Based on end-use, hospitals accounted for the largest revenue share due to increasing number of hospital admissions requiring critical monitoring. Growing burden of chronic diseases and infections has triggered the use of safety syringes in developing countries having poor hygienic conditions.
U.S. will drive the safety syringes market owing to the growing awareness amongst the population regarding the availability of syringes that reduces the mortality rates due to infections. Moreover, increasing technological advancements have added modifications and enabled automation within these syringes surging the demand thereby boosting the industry growth over the forecast timeframe.
India safety syringes market will witness high growth due to the increasing prevalence of chronic bacterial, viral and fungal infections. As reported by Avert, in 2016, around 2.1 million people were infected with HIV that increased the demand for safety syringes. In addition to this, poor hygiene conditions give rise to infections, propelling the industry growth.
Some of the major industry players include Becton Dickinson, Smiths Medical, Retractable Technologies, Terumo Corporation, Medtronic, NIPRO Medical Corporation, Boston Scientific, B.Braun, JMI Syringes & Medical Devices. These key industry players have focused their efforts on R&D activities that have rendered them with competitive advantage. For instance, Boston Scientific has manufactured insulin safety syringes that has easy slide plunger and is fully integrated allowing maximum clinician control. Developing new products will foster revenue generation for the company.
Safety Syringes Market by Product, 2014-2025 (USD Million)
- Retractable Safety Syringes
- Manual Retractable Safety Syringes
- Automatic Retractable Safety Syringes
- Non-Retractable Syringes
Safety Syringes Market by End-use, 2014-2025 (USD Million)
- Ambulatory Surgical Centers
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Becton Dickinson
- Smiths Medical
- Retractable Technologies
- Terumo Corporation
- NIPRO Medical Corporation
- Boston Scientific
- JMI Syringes & Medical Devices
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