Global Safety Syringes Market to Register a CAGR of 9.70% from 2013 to 2019
According to the World Health Organization (WHO), unsafe injection practices cause more than 1.3 million deaths worldwide every year. The global healthcare industry has witnessed a surge in needlestick injuries, which has spurred the demand for retractable safety syringes worldwide. Needlestick injuries are mostly caused by sharing, reuse, or unsafe disposal of non-sterile syringes.
This in turn leads to the transmission of blood-borne pathogens such as the Hepatitis C virus and HIV. To curb the increasing incidence of needlestick injuries, the healthcare and pharmaceutical industries around the world are now evolving to the mandatory use of safety syringes. Such factors have given a significant boost to the global safety syringes market.
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In its 75 pages, the report provides an executive-level synopsis of the global safety syringes market, underlining the key growth drivers and identifying the potential threats and opportunities. To present a comprehensive overview, the report segments the global safety syringes market into non-retractable and retractable safety syringes. Retractable safety syringes are further classified into automatic and manual retractable safety syringes. Non-retractable syringes encompass the variants without retraction mechanism. This segment comprises syringes with sliding needles, sheathing tube syringes, and hinged needle covers.
Information sourced through primary and secondary research methods is evaluated coherently. Based on information obtained from primary and secondary research, the report analyzes the present market dynamics and forecasts growth projections.
The global safety syringes market stood at US$3,419.1 million in 2012. Expanding at an impressive 9.7% CAGR, the report forecasts that the market will reach a valuation of US$6,496.8 million in 2019.
Increasing occurrences of needlestick injuries and their serious repercussions have led to substantial growth of the global safety syringes market. To counter the rising prevalence of needlestick injuries, governments of leading economies have legislated stringent regulations mandating the use of safety syringes across the respective healthcare sectors. As a consequence, a marked rise in the demand for safety syringes with improved safety mechanism has been noted worldwide.
The U.S. Occupational Safety and Health Administration observed in a study that around 5.6 million healthcare workers in the country are exposed to blood-borne diseases via needlestick injuries. The U.S. is the first country to enforce the use of safety syringes in healthcare facilities within legislation, through the Federal Needlestick Prevention Act in 2000. Such factors have significantly attributed to the expansion of the safety syringes market.
North America dominated the global safety syringes market in 2012 in terms of both volume and revenue generated. The region is likely to exhibit unbridled growth in terms of demand for safety syringes during the forecast period owing to government initiatives that boost the use of safety mechanisms across the region’s healthcare sector. Europe is the second largest safety syringes market. However, Asia Pacific and Rest of the World will emerge as the fastest growing markets for safety syringes owing to ongoing immunization programs deliberated by UNICEF and the WHO.
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