The global safety syringes market is expected to grow at a CAGR of 9.7% between the years 2013 and 2019. This market is witnessing a shift in demand from conventional syringes to safety syringes. Safety syringes refer to syringes that are equipped with safety mechanisms. Such syringes are available with either permanently fixed needles or removable needles. The main factors that drive the global safety syringes market are better safety mechanisms in syringes, expanding injectables market, increasing frequency of needlestick injuries and government regulation on widespread use of safety syringes.
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According to reports, millions of healthcare workers in the US are exposed to blood borne diseases caused due to injuries caused by needlesticks. Unsafe syringe handling may lead to the transfer of blood borne diseases like Hepatitis C, Hepatitis B and HIV. The global safety syringes market is fueled by greater healthcare initiatives being taken by the governments of various economies. In fact, government legislations are urging manufacturers in the global safety syringes market to produce syringes with safety mechanisms.
Market Segmentation of the Global Safety Syringes Market
The global safety syringes market is segmented primarily on the basis of product type. The two main types of safety syringes include retractable safety syringes and non-retractable safety syringes. Retractable safety syringes are also of two types which are manual retractable safety syringes and automatic retractable safety syringes. Retractable syringes include syringes with hinged needle covers, sheathing tube syringes and syringes with sliding needle covers. There is greater preference for automatic retractable safety syringes as against manual retractable safety syringes due to greater safety and ease of use. Also, the demand for retractable safety syringes is estimated to be greater than the demand for non-retractable safety syringes due to higher incidence of adoption in the developed economies and rising safety concerns.
Challenges Prevailing in the Global Safety Syringes Market
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The global safety syringes may have to face some challenges in terms of simultaneous development of alternative drug delivery techniques and increasing costs associated with safety syringes. The slow rate of adoption of safety syringes across healthcare units is due to the cost of safety syringes which is twice or thrice the cost of the conventional syringes. Such a thing is more prevalent in countries which give greater importance to imparting training to healthcare workers than purchasing safety syringes for reducing the frequency of injuries caused due to needlesticks and other sharp medical instruments. Absence of strict government regulations pertaining to the use of safety syringes in the Asia Pacific and the rest of the world has been a major factor that has affected the growth of the safety syringes market in these regions.
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Regional Participants in the Global Safety Syringes Market
The largest regional market for safety syringes in the global safety syringes market is North America due to the majority share that it holds in terms of both revenue and volume. The region of North America is witnessing a noteworthy shift from conventional syringes to safety syringes. In terms of volume and revenue generated in the global safety syringes market, North America is followed by Europe. The markets in the Asia Pacific and the rest of the world will also be experiencing robust growth in the global safety syringes market due to various immunization programs being undertaken by international bodies like the UNICEF and the WHO.
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Some of the leading companies in the global safety syringes market include Unilife Corporation, Becton, Dickinson & Company, Retractable Technologies, Inc., Smiths Medical, Terumo Corporation, Revolutions Medical Corporation and Covidien plc.
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