Global Safety Syringes Market - 2023-2030

Global Safety Syringes Market - 2023-2030

Global Safety Syringes Market reached US$ YY million in 2022 and is expected to reach US$ YY million by 2030, growing at a CAGR of YY% during the forecast period 2023-2030.

A safety syringe is a syringe with a built-in safety mechanism to reduce the risk of needlestick injuries to healthcare workers and others. The needle on a safety syringe can be detachable or permanently attached.

Safety needles serve the same functions as safety syringes, but the protective mechanism is a part of the needle rather than the syringe. Most effective safety syringes have reuse and needlestick prevention features. Safety syringes are syringes that additionally consist of a safety mechanism.

Market Dynamics: Drivers & Restraints

Increase in the number of needlestick injuries

The increase in the number of needlestick injuries is expected to drive market growth by increasing the demand for safety syringes and shifting the focus of healthcare workers from conventional syringes to safety syringes.

For instance, according to a report published by NIH in 2022, it is estimated that 600,000 to 800,000 needlestick injuries (NSIs) and other percutaneous injuries (PIs) occur annually among healthcare workers around the globe.

Additionally, according to the data provided by Becton Dickinson in 2023, every year it is estimated that 385,000 healthcare workers in the United States and more than 1 million healthcare workers in Europe experience a percutaneous injury each year as a result of accidents with needles or sharps. Thus, an increase in the number of needlestick injuries is expected to drive the market growth.

Restraint

High costs associated with the syringes

The high costs of the safety syringes when compared to the conventional syringes are expected to hamper the market growth. The high cost can be due to the safety features that are incorporated. The lack of regulatory approvals and the presence of alternative drug delivery systems are expected to hamper the market growth.

Segment Analysis

The global safety syringes market is segmented based on product type, application, end-user and region.

Retractable safety syringes segment accounted for 39.8% of the market share

Retractable safety syringes are expected to hold a dominant share in the global safety syringes market share due to their advantages over the other types of safety syringes. The Retractable Safety Syringe works in just the same way as a classic syringe, but it automatically retracts the needle once the injection is completed.

They use a spring-loaded system or a manual system for retraction. They prevent cross-contamination and the spread of blood-borne infections. Manual retractable syringes are designed to prioritize safety and minimize the risk of needlestick injuries. Retractable needle safety syringes are mostly accepted over typical syringes and so possess substantial potential for growth. Thus, the retractable safety syringe segment is expected to hold the dominant share in the market.

Geographical Analysis

North America is expected to hold a significant position in the global safety syringes market share

North America holds a dominant share of the safety syringes market owing to the increase in the number of chronic diseases such as diabetes and tuberculosis in the region. The presence of a large number of medical device and disposables manufacturers is also expected to drive market growth in the region.

For instance, according to the report by the Pan American Health Organization in 2022, it is estimated that 62 million people of Americans are suffering from diabetes.

Safety insulin syringe where the needle retracts into the barrel of the syringe after administration, and lowers the risk of needlestick injury. A safety insulin syringe with a shield that slides over the needle lowers the risk of needlestick injury.

For instance, according to WHO, it is estimated that 10.6 million people who fall ill with TB worldwide in 2021 an increase of 4.5% from 10.1 million million in 2020. Thus, an increase in the number of chronic diseases is expected to drive the market growth.

COVID-19 Impact Analysis

The COVID-19 has impacted the safety syringes market positively. With the increase in the number of vaccinations, the use of advanced safety syringes has been increased. The investments in safety syringe manufacturing have been increased. The vaccinations are made easy without any harm or infection to the patients with the safety syringes.

Competitive Landscape

The leading companies with a significant market share include Becton Dickinson & Company, Thermo Fisher Scientific., Retractable Technologies, Inc., Terumo Corporation, Cardinal Health, B. Braun Melsungen AG, Revolutions Medical, NIPRO Medical Corporation, Sol-Millennium Inc., and AdvaCare Pharma among others.

Key Developments
• On February 23, 2023, The FDA approved Zephyrus Innovations’ Aeroject 3ml safety syringe which has an internal mechanism that retracts the needle inside the syringe after activation.
• On October 11, 2021, Datwyler and Roncadelle developed a new safety syringe.

Why Purchase the Report?
• To visualize the global safety syringes market segmentation based on product type, application, end-user and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of safety syringes market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global safety syringes market report would provide approximately 59 tables, 61 figures, and 187 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies