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Safety Syringe Market to Expand at 9.7% CAGR Due to Growing Health Safety Awareness and Technological Advancements

Posted on Jun 09, 2015

Transparency Market Research (TMR) has announced an addition of a new market research report about the global safety syringes market that provides a comprehensive outlook about current and future market trends and related details. The report forecasts that the global safety syringes market developing at a promising CAGR of 9.7% during the forecast period from 2013 to 2019. The report states that the global market value was US$3,419.1 million in 2012 and is expected to reach US$6,496.8 million by 2019.The market report is titled ‘Safety Syringes Market - Global Industry Analysis, Size, Volume, Share, Growth, Trends and Forecast, 2013–2019.’

 

Browse the full Safety Syringes Market (Retractable Safety Syringes: Automatic Retractable Safety Syringes and Manual Retractable Safety Syringes, and Non-Retractable Safety Syringes) - Global Industry Analysis, Size, Volume, Share, Growth, Trends and Forecast, 2013 - 2019 report at http://www.transparencymarketresearch.com/retractable-safety-syringes.html

 

The market report has a comprehensive description about the types of safety syringes available, classifications, market trends, opportunities, drivers and restraints, and future market forecasts. The market study analyzes the growth rate of the worldwide safety syringes market based on revenues and volume, market segments, and the base years being 2011 and 2012. The market research report provides information on how safety syringes have evolved to protect against the severe outcomes of needlestick injuries. A key growth factor for the safety syringes market is the government regulations that compelled manufacturers to develop syringes featuring safety mechanisms based on advanced technology. 

Additionally, an increase in the number of injectable drugs in the global market has led to more syringes with safety mechanisms being manufactured. In some countries, such as the U.S., the safety syringe market has been bolstered due to safety measures enforced by government health regulatory bodies to guard against blood borne diseases. Growing awareness of the risks and severe outcomes associated with using unsafe injection procedures are listed among the market acceleration factors in the report.On the other hand, market growth is hampered by the high costs connected with safety syringes. The costs are inhibiting and delaying the change from using traditional reusable syringes to safety syringes. Market challenges also exist due to the use of alternative methods of drug delivery. Market segments for safety syringes, as detailed in the report, are based on product type and geographical regions. Based on product type, the safety syringes market is composed of retractable and non-retractable safety syringes. The retractable safety syringe segment is further divided into manually and automatically operated types.

 

The market report calculates the global market revenues and volumes for both product types and geographical regions. North America was reported to be the topmost market for safety syringes in 2012 with highest share in both volume and revenue. This region has witnessed a significant move towards the use of safety syringes and has an emergent market for prefilled syringes during the forecast period.Europe was reported as the second largest growth area in 2012. Asia Pacific and Rest of the World (RoW) safety syringes market is expected to display growth due to immunization programs introduced by United Nations health bodies such as United Nations Children’s Fund (UNICEF) and World Health Organization (WHO). The safety syringes market in these geographical regions is expected to expand with the increased penetration of companies in European countries and in U.S. 

 

The market report lists the major players in the safety syringe market. Among them are Retractable Technologies, Inc., Smiths Medical, Becton, Dickinson & Company, Unilife Corporation, Terumo Corporation, and Smiths Medicals among others.

 

Browse Our new press releasehttp://www.transparencymarketresearch.com/pressrelease/retractable-safety-syringes-market.htm

 

 

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