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(Medical-NewsWire.com, March 26, 2020 ) Market Overview
• The Global Safety Syringes Market is expected to grow at a CAGR of over 8.5% during the forecasting period (2019-2026).
• A safety syringe has a safety mechanism built and is designed to prevent accidental needlestick injuries to healthcare professionals. It has a detachable or permanently attached needle. Commonly the mechanism either places a sheath over the needle or the needle retracts into the body of the syringe. The use of safety syringes has become more widespread in recent years as the focus of needlestick injury prevention has increased. Many countries have passed legislation for compulsory usage of safety syringes.
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Market Dynamics
• The safety syringes market growth is driven by several factors, such as an increase in the incidence of needlestick injuries, improvement in safety mechanism and favorable government initiatives.
• Needlestick injuries are wounds caused by needles that accidentally puncture the skin. Needlestick injuries are a hazard for people who work with hypodermic syringes and other needle equipment. These injuries can occur at any time during the use, when people use, disassemble, or dispose the needles. If the needles are not disposed properly, needles might be left unseen in linen or garbage, which can again cause injury to other workers who encounter them unexpectedly. These injuries can transmit infectious diseases, especially blood-borne viruses such as Human Immunodeficiency Virus (HIV) which leads to AIDS (Acquired Immune Deficiency Syndrome), hepatitis B, and hepatitis C. According to the World Health Organization (WHO), 35 million health-care workers, 2 million experience percutaneous exposure to infectious diseases each year. Furthermore, 37.6% of hepatitis B, 39% of hepatitis C and 4.4% of HIV/AIDS in healthcare workers around the world are due to needlestick injuries.
• There are several government and non-government organizations working towards syringe safety for healthcare workers. For instance, the injection safety policy and campaign by WHO is a three to five year initiative that engages many public and private sector stakeholders such as Ministries of Health, local stakeholders, international donor programs, industry players and umbrella organizations representing injection device manufacturers and health care workers. Its critical goal is exclusive use of safety-engineered injection devices with re-use prevention and sharps (needle) injury prevention and development of an implementation strategy for safety syringes’ procurement, training and education of health workers and sound waste management. Similarly, Occupational Safety and Health Administration (OSHA), has strict regulations on usage of safety syringes. It has a formal and periodic product evaluation process of needlestick protective devices involving front-line workers.
Market Segmentation
• By product type, the global safety syringes market is segmented into retractable safety syringes and non-retractable safety syringes. Retractable safety syringes are further segmented into manual and automatic syringes. Non-retractable safety syringes are sub-segmented into sliding needle cover syringes, sheathing tube syringes, and hinged needle cover syringes. Among these retractable safety syringes are expected to hold a dominant market share over the period of forecast (2019-2026) due to its preference in developed nations. In retractable safety syringes the needle is fused to the syringe and is spring-loaded. It retracts into the barrel of the syringe after the delivery of medication. Automatic retractable syringes are preferred over manual syringes as they are easy to use and safer. These syringes also decrease the waste volume as compared to other syringes.
• By end-users, the market is segmented into hospitals, clinics, and ambulatory surgical centers. The hospitals segment is expected to hold a dominant market share during the period of forecast (2019-2026). Patients with any disease and with any severity can be treated in hospitals as hospitals have access to most of the kinds of new technologies required for the treatment along with the presence of state-of-the-art and excellent infrastructure. Furthermore, the availability of registered medical practitioners, along with favorable reimbursement policies, also makes hospitals the preferred choice.
Geographical Analysis
• North America is dominating the safety syringes market in 2018 and estimated to hold largest market size over the forecast period (2019-2026), owing to highly aware population, advanced healthcare infrastructure, favorable government initiatives, the introduction of new safety syringes in most of the healthcare establishments and presence of major companies in the region. Many companies present in the area are working towards new technological advancements and advanced safety syringes. The U.S. passed the Needlestick Safety and Prevention Act in November 2000. To date, this is the only national-level legislation mandating the use of safety-engineered devices in healthcare settings to reduce the risk of sharps injuries and blood exposures to healthcare workers. In U.S., under the Consolidated Appropriation Act of 2016, federal law permits use of funds from the Department of Health and Human Services (DHHS) to support syringe service programs with the exception that funds may not be used to purchase needles or syringes.
• Asia-Pacific is expected to grow at the highest CAGR over the period of forecast due to high population base, development in healthcare infrastructure, and an increase in incidences of needlestick injuries. Many government and non-government organizations are working towards prevention of injuries caused by needlesticks. WHO and UNICEF are carrying out many safe immunization programs in the region to raise awareness. Asia has enormous potential for market growth; hence many large U.S. based companies are penetrating the region.
Competitive Landscape
• Some of the major key players in the market are Becton Dickinson & Company, Smiths Medical Inc., Medtronic, Retractable Technologies, Inc., Terumo Corporation, Cardinal Health, JMI Syringes, and Medical Devices Limited, B. Braun Melsungen AG, Boston Scientific Corporation and NIPRO Medical Corporation.
• In the safety syringes market, Becton, Dickinson, and Company hold the leadership position due to portfolio expansion, mergers, collaborations, and acquisitions. The key players are adopting various growth strategies such as new product launches, mergers & acquisitions, partnerships, and collaborations and increasing research and development and high investment which are contributing to the growth of the safety syringes market globally.
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