USD 8.45 billion
Report ID:
SQMIG35B2132 |
Region:
Global |
Published Date: March, 2024
Pages:
202
|Tables:
111
|Figures:
77
Safety Syringes Market size was valued at USD 9.11 Billion in 2023 and is poised to grow from USD 9.82 Billion in 2024 to USD 17.91 Billion by 2032, growing at a CAGR of 7.8% during the forecast period (2025-2032).
The global safety syringes market has experienced significant growth in recent years, driven by rising concerns about needlestick injuries, bloodborne infections, and the need for safer healthcare practices. The increasing adoption of safety-engineered syringes in hospitals, clinics, and other healthcare settings has been a key factor propelling market expansion. Stringent regulations and guidelines implemented by various governments and health organizations to ensure healthcare worker safety have also contributed to the market's upward trajectory. The market has seen the introduction of innovative safety syringe designs that offer features such as retractable needles, automatic safety mechanisms, and needlestick prevention.
As awareness about the importance of needlestick injury prevention continues to grow, the global safety syringes market is poised to maintain its growth momentum. However, challenges related to cost and availability in certain regions, as well as the need for comprehensive training, may impact the market's growth to some extent.
US Safety Syringes Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 8.45 billion
Largest Segment
Hospitals
Fastest Growth
Blood Donation Camps
Growth Rate
7.8% CAGR
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The global safety syringes market is segmented into four major Product, Type, Therapy, end-user and region. Based on Product the market is segmented as, Retractable Safety Syringes and Non Retractable Safety Syringes. Based on type, the market is bifurcated as, Attached Needle and Detachable Needles. On the basis of End-User the market is segmented as, Hospitals, Blood Donation Camps, and Others. In terms of therapy, the market is segmented into Insulin and Tuberculosis. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Safety Syringes Market Analysis by Product
Retractable safety syringes have emerged as the dominating market force. These syringes offer a distinct advantage by incorporating mechanisms that retract the needle back into the syringe barrel after use, effectively eliminating the risk of accidental needlestick injuries. This innovative design addresses the pressing concern of healthcare worker safety, reducing the potential for the transmission of bloodborne infections.
However, Retractable Safety Syringes have also emerged as the fastest-growing segment in the market. These syringes feature an innovative design that allows the needle to retract into the syringe barrel after use, reducing the risk of accidental needlestick injuries. The growing awareness about healthcare worker safety and the need to prevent needlestick incidents has driven the demand for retractable safety syringes.
Safety Syringes Market Analysis by End-user
Among all, hospitals stand out as the largest and dominating sector. Hospitals represent the core of patient care and medical procedures, accounting for a substantial portion of the demand for safety syringes. The sheer volume of injections and procedures performed daily in hospital environments necessitates the use of safety-engineered syringes to minimize the risk of needlestick injuries and cross-contamination. Moreover, hospitals are often at the forefront of implementing safety protocols and complying with regulations to protect healthcare workers and patients.
The hospitals are also poised to be the fastest growing as well. This is due to their high patient volume and the critical nature of healthcare procedures performed within their premises.
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North America currently stands as the dominating market in the safety syringes industry. The region's dominance can be attributed to stringent regulations regarding healthcare worker safety, well-established healthcare infrastructure, and higher awareness levels about the risks associated with needlestick injuries and bloodborne infections. Additionally, increased investments in research and development, along with a proactive approach to adopting advanced medical technologies, have further fueled the adoption of safety syringes.
However, Asia Pacific stands out as the fastest-growing market in the safety syringes sector. The region's rapid economic development, expanding healthcare infrastructure, and increasing focus on patient and healthcare worker safety have fueled the demand for safety syringes. Developing countries in Asia Pacific, such as China and India, have witnessed significant investments in healthcare facilities and a growing awareness of the risks associated with needlestick injuries, driving the adoption of safety-engineered syringes. Additionally, rising government initiatives to curb bloodborne infections and stringent regulations mandating the use of safety devices in healthcare settings have further accelerated the market's growth in the region.
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Safety Syringes Market Drivers
Increasing Needlestick Injuries
Safety Syringes Market Restraints
Cost considerations
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The global safety syringes market exhibits a competitive landscape characterized by the presence of several key players striving for market dominance. Companies such as Becton, Dickinson and Company, Medtronic plc, Terumo Corporation, Smiths Medical, and Retractable Technologies, Inc. are at the forefront of innovation and product development in this sector.
These industry leaders have invested significantly in research and development to introduce advanced safety features and technologies, enhancing the efficacy and user-friendliness of safety syringes.
As the demand for safer healthcare practices continues to rise globally, the competitive landscape of the safety syringes market is expected to remain dynamic, with a focus on innovation, regulatory compliance, and meeting the evolving needs of healthcare professionals and patients.
Safety Syringes Market Top Player’s Company Profiles
Safety Syringes Market Recent Developments
In February 2024, Sharps Technology, Inc., an innovative medical device and pharmaceutical packaging company offering patented, best-in-class syringe products, made the first shipment of its 1mL and 3mL Securegard smart safety syringe line to the Latin American healthcare market.
In January 2024, Sharps Technology, Inc. and Roncadelle Operations, a driving force in the development of novel medical drug delivery devices with its seasoned team boasting over two decades of healthcare expertise, signed a Letter of Intent (LOI) to enter into a sales and marketing agreement which would enable the Company and Roncadelle to cooperatively sell and distribute each other’s products to their respective areas of influence and expand Sharps’ American-based product market into Europe, the Middle East, Africa, and the Asia-Pacific region.
In January 2023, MTD Group obtained FDA clearance by its affiliate Pikdare S.p.A. for DropSafe Sicura passive safety needle for the intramuscular and subcutaneous injection of vaccines and other drugs.
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to global Safety syringes market analysis, the market analysis reveals a growing demand for these specialized medical devices due to escalating concerns surrounding needlestick injuries and bloodborne infections. The market's expansion is driven by the adoption of safety-engineered syringes across various healthcare settings, spurred by stringent regulations and guidelines focused on healthcare worker safety. Innovative designs, such as retractable needles and automatic safety mechanisms, are gaining traction, reflecting the industry's commitment to preventing needlestick injuries. The market's potential is evident across regions as governments and health organizations continue to emphasize safer healthcare practices. Nonetheless, challenges related to cost, availability, and training could influence the market's growth trajectory.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 9.11 Billion |
Market size value in 2032 | USD 17.91 Billion |
Growth Rate | 7.8% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Safety Syringes Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Safety Syringes Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Safety Syringes Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
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Report ID: SQMIG35B2132
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