Automatic Retractable Safety Syringe Market Report
Automatic Retractable Safety Syringe Market, by Type (0.5 ml, 1 ml, 3 ml, 5 ml, Others), Application (Subcutaneous (Sub-Q), Intramuscular (IM), Intravenous (IV)), Regional Analysis (North America, Europe, Asia-Pacific, LAMEA): Global Opportunity Analysis and Industry Forecast, 2020–2027
Global Automatic Retractable Safety Syringe Market Analysis:
Automatic retractable safety syringe refers to syringes having internally assembled safety mechanism which have detachable or permanently attached needles. These syringes are highly efficient and majorly reduce the chances of needle stick injuries to patients, healthcare employees, and others. Post the syringe is used the needle could be retracted into the barrel. These retractable safety syringes have spring-loaded automated retraction. Automatic retractable safety syringes retract the needle inside the syringe once the liquid is expelled and delivery of dosage through syringe is completed. Automatic retractable safety syringes have much lower wastage rates. These safety syringes are used in treatment of cancer, diabetes, tuberculosis, polygenic diseases, and other diseases owing to their time-saving and safety benefits. Owing to these benefits and reduced chances of needle related injuries the demand for automatic retractable safety syringes is growing.
Increasing cases of needle stick injuries and growing diseases across the globe are the major factors driving the growth of market
There has been a major rise in needle stick injuries and also as per World Health Organization (WHO) 1.3 million people die annually due to unsafe injection practices across the globe. The changes of contracting diseases or puncturing veins while using syringes are pretty high when they are reused. This has led to growing demand for reusable syringes which are safe. To reduce the chances of needle stick injuries healthcare globally is massively investing in safety syringes which has led to increased demand for automatic retractable safety syringes. These syringes ensure safety and reduce the time consumed in injecting the liquid. They reduce the chances of contracting diseases majorly and are reusable in nature. Owing to these factors they are being widely adopted by a huge portion of population, which is driving the market growth. Automatic retractable safety syringes are used in treatment of cancer, diabetes, tuberculosis, polygenic diseases, and other diseases owing to their time-saving and safety benefits. These diseases are growing massively across the globe and causing a major rise in the demand for syringes as they are utilized on regular basis by the patients. Patients find automatic retractable safety syringes highly efficient and easy to use. Patients can use these syringes by themselves which saves a lot of time and cost. As per a report by World Health Organization (WHO) from September 2018, cancer is the second leading cause of death with estimated 9.6 million deaths in 2018. Another report from March 2020 by WHO states that approximately 1.5 million people dies from TB in 2018. According to a report by WHO from June 2020, diabetes patients grew from 108 million in 1980 to approximately 422 million in 2014 and the patients are expected grow even further. Owing to these huge the demand for automatic retractable safety syringes is massively growing.
High costs, low awareness, and alternative drug delivery systems are hampering the market growth
Automatic retractable safety syringes are usually high priced and have a short life span due to limited liquid capacity and advanced inbuilt safety mechanism. Further, the market is negatively impacted due to low awareness about safety syringes in many parts of the world because of poor healthcare facilities. Also, alternative manually operated safety syringes have major market coverage due to comparatively low prices, which significantly reduces usage of automatic retractable safety syringes.
Growing government initiatives, innovation in safety syringes and rising environmental concern on usage of disposable syringes is creating lucrative market opportunities
Government has become more aware to curb needle and syringe related issues which are causing deaths. Governments across the globe have mandated stringent rules which require safe use of syringe and this has promoted usage of automatic retractable safety syringes. Multiple reimbursement schemes in treatment of diseases have enabled patients to spend more on the medication, which has led to growing demand for automatic retractable safety syringes. Further, various innovations and upgradations in the syringe mechanism have made them extremely safe and also easy to use. All these factors have led to rise in usage as well as demand of automatic retractable safety syringes and has facilitated growth of market. Also, rising concerns over usage of single-use plastic made syringes has led to increased utilization of better alternatives like reusable syringes which reduce medical plastic waste. These factors have created massive growth opportunities for global automatic retractable safety syringe market.
Global Automatic Retractable Safety Syringe Market, by Type:
3ml segment to grow at the most capacity by the end of 2027
3ml segment will have a dominating share in the global market and they are expected to register a significant revenue during the forecast timeframe. 3ml syringes are used majorly by diabetic patients to intake insulin doses. According to a report by WHO from June 2020, diabetes patients grew from 108 million in 1980 to approximately 422 million in 2014 and the patients are expected to grow even further. Growing diabetic patients is the major factor causing rise in demand of 3ml automatic retractable safety syringes. Further, they have various other medical uses such as during post-operative conditions, intramuscular medication, and vitamin deficiencies which are fueling the market growth.
Global Automatic Retractable Safety Syringe Market, by Application:
Intramuscular (IM) segment to register maximum growth
Intramuscular segment is anticipated to register maximum growth in the global automatic retractable safety syringe market during the forecast period. An intramuscular syringe is used to deliver medication into the muscles. Medication when injected in muscles are more quickly absorbed into the bloodstream. Medication is more properly absorbed when injected into muscles and it doesn’t get wasted. Further, intramuscular syringes are used when a doctor can’t locate an appropriate vein or when there are possible chances of drug causing reactions and irritations in the veins. All these benefits and factors are helping the segment to grow and increasing the adoption of intramuscular syringes.
Global Automatic Retractable Safety Syringe Market, by Region:
North America region to hold the largest market share
North America region is expected to hold the largest market share in the global automatic retractable safety syringe market during the forecast timeframe. Robust healthcare infrastructure, growing consumer awareness, increased consumer spending on medication, and growing adoption of immunization techniques are the major factors driving the growth. Further, growing research and development activities have led to major advancements in the automatic retractable safety syringes and increased demand for the same.
Asia-Pacific region to grow exponentially
Asia-Pacific region is anticipated to grow exponentially in the global automatic retractable safety syringe market during the forecast period. The region’s growth is majorly due to rising patients of tuberculosis, diabetes, cancer and other diseases, which is causing major rise in usage and adoption of these syringes. Further, favorable government standards and other schemes like reimbursement for promoting healthcare expenditure and reducing needle stick injuries are propelling the market growth.
Key Participants in the Global Automatic Retractable Safety Syringe Market:
Merger & acquisition and advanced product development are the frequent strategies followed by the market players
Source: Research Dive Analysis
Some of the significant global automatic retractable safety syringe market players include MEDIPRIM GmbH, BD., Retractable Technologies Inc., Medtronic, Frontier Medical Group, Clik-Lok Australia Pty. Ltd., Q STAT Safety Syringe, Medicina, DMC Medical Limited, Globe Medical Tech Inc.
Market players prefer inorganic growth strategies to expand into local markets.
Global automatic retractable safety syringe market players are emphasizing more on merger & acquisition and advanced product development. These are the frequent strategies followed by established organizations. To emphasize more on the competitor analysis of market players, the Porter’s five forces model is explained in the report.
Historical Market Estimations
Base Year for Market Estimation
Forecast timeline for Market Projection
North America, Europe, Asia-Pacific, LAMEA
Segmentation by Type
Segmentation by Application
Key Countries Covered
U.S., Canada, Germany, France, Spain, Russia, Japan, China, India, South Korea, Australia, Brazil, and Saudi Arabia
Key Companies Profiled
Q1. Which are the leading companies in the global automatic retractable safety syringe market?
A. Medtronic, Retractable Technologies, Inc., and MEDIPRIM GmbH are the leading companies in the global automatic retractable safety syringe market.
Q2. Which region possesses greater investment opportunities in the coming future?
A. The Asia-Pacific region possesses great investment opportunities for investors to witness the most promising growth in the future.
Q3. What are the strategies opted by the leading players in this market?
A. Technological advancements, product development, along with joint ventures are the key strategies opted by the operating companies in this market.
Q4. Which companies are investing more in R&D practices?
A. Medtronic and Retractable Technologies, Inc. are investing more in R&D practices.