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
The purpose of the report is to illustrate the state of the market of Retractable Needle Safety Syringes, to present actual information about the volumes of production, exports, imports, consumption and the state of the market, the changes that took place in 2017, and also, to build a forecast for the growth of the industry in the medium term until 2026.
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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. General trend of unsafe syringe practice is observed all over the world, especially in developing countries, which has led to 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, but it would lead to disease such as haemorrhagic fevers such as Ebola and Marburg viruses, bacterial infection, malaria, and others. The WHO has set guidelines for 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. 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 centres. Hospitals dominate the global retractable needle safety syringes market and is rapidly growing with WHO guideline for 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 includes government initiative and regulation for safety practices, rise in incidence of needlestick injury and enhanced safety needles. Asia Pacific is the fastest growing retractable needle safety syringes market in forecast period.
Market Competition Assessment:
Key players in the global retractable needle safety syringes market are 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, UltiMed, Inc. and others.
Why was the report written?
This report is the result of an extensive survey drawn from Credence Research’s exclusive panel of leading global market industry executives; it provides data and analysis on buyer investment, acquisition, and developments within the global market research. It includes key topics such as global Retractable Needle Safety Syringes buyer expenditure and procurement behaviors and strategies and recognizes the threats and possibilities within the industry, economic outlook trends, and business confidence within global industry executives. Most secondary research reports are based on general industry drivers and do not understand the industry executives’ attitude and changing behaviors, creating a gap in presenting the business outlook of the industry; in an effort to bridge this gap, Credence Research created this primary research-based report by gathering the opinions of multiple stakeholders in the value chain of the global industry.
What is the current market landscape and what is changing?
Executives from the global industry anticipate an increase in levels of consolidation, with 55% of respondents projecting an increase in merger and acquisition (M&A) activities in 2017.
The report on the market of Retractable Needle Safety Syringes contains:
Analysis and forecast of Retractable Needle Safety Syringes market dynamics;
Analysis of domestic production, market shares of the main market players;
Analysis of exports and imports;
Analysis of factors, leading the development of the Retractable Needle Safety Syringes market;
Assessment and forecast of Retractable Needle Safety Syringes market development;
Financial and business profiles of the leading companies in the Retractable Needle Safety Syringes industry.
– Up to date working Retractable Needle Safety Syringes data by major regions in the world, the forecast of planned capacity additions by 2026
– The annual breakdown of capital expenditure spending on proposed Retractable Needle Safety Syringes for the period 2018 to 2026
– Planned Retractable Needle Safety Syringes additions and capital expenditure spending by key countries and companies across the world
– Planned capital expenditure spending on new Retractable Needle Safety Syringes projects by region, key countries, and companies
– Details of major planned Retractable Needle Safety Syringes projects in the world up to 2026
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