The global retractable needle safety syringes market is on track for consistent growth, projected to reach a valuation of USD 8,770 million by 2033, up from USD 5,846.6 million in 2023. The market is expected to expand at a compound annual growth rate (CAGR) of 4.1% from 2023 to 2033, driven primarily by the increasing global prevalence of various diseases that necessitate safer injection practices.
Manual retractable safety syringes are anticipated to remain the leading product type in the market, holding an impressive 62.13% market share as of 2022. These syringes are designed to enhance patient and healthcare worker safety by minimizing the risk of needlestick injuries.
In 2022, the retractable needle safety syringes market accounted for over 2.6% of the global medical supplies market, which was valued at approximately USD 215.0 billion. This highlights the growing importance of safety syringes within the broader medical industry, as healthcare systems around the world prioritize safe and efficient treatment delivery.
Major technological developments related to needles and syringes, such as the introduction of retractable needle safety syringes, lubrication technology and needle-stick safety-equipped devices, have increased the demand for retractable needle safety syringes in the market.
In addition to this, development of various safety devices, such as a passive needle guard with an advanced retractable needle system and plastic shield is largely addressing the issue of needle-stick injuries. Thus, technological advancement will continue to play a key role in spurring growth of the retractable needle safety syringes market.
Furthermore, organizations and manufacturers with advanced procurement functions have opportunity to grow and expand their business to purchasers and traders. Together they work to develop innovative products in order to boost revenues and profits for both parties. They are using different key strategies, such as new product launches, expansion, and collaborations, among others to expand their footprint.
For instance, in June 2021, the space Medtech start-up ResearchSat partnered with the subsidiary of Numedico Technologies Pty Ltd. (Numedico Science Pty Ltd.), to work together for developing innovative therapies and drugs delivery based systems.
Key Takeaways from Market Study
- By product, manual retractable safety syringes are expected to hold around 1% market value share by the end of 2032.
- By application, intravenous segment holds a market share value of around 0%.
- By end-user, hospitals segment accounted for the highest market share value of 7% in 2021.
- North America accounted for around 4% revenue share of the global retractable needle safety syringes market in 2021.
- The retractable needle safety syringes market in Germany is set to expand at 1% CAGR during the forecast period.
- Demand for retractable needle safety syringes in China to increase at a CAGR of 2% over the next ten years.
“With increasing advancement in retractable needle safety syringes and surge in needle stick injury cases, growth in the retractable needle safety syringes market is on the cards,” as per the analyst of Future Market Insights.
Key Players :
- Axel Bio Corporation, Inc
- Becton, Dickinson and Company
- Numedico
- Lifelong Group
- DMC Medical Ltd.
- Retractable Technologies, Inc.
- Smiths Medical
- Sol-Millennium Medical Group
- UltiMed, Inc. (Ulticare)
- Revolutions Medical Corporation
- Medicina (HMC Group)
- Haiou Medical
- Mediprim
- Cardinal Health
- Medline Industries
- Duopross Meditech Corp.
- Nipro Corporation
- Terumo Corporation
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Key Market Segments Covered in Retractable Needle Safety Syringes Industry Research
By Product:
- Manual Retractable Safety Syringe
- Auto-retractable Safety Syringe
By Application:
- Subcutaneous
- Intramuscular
- Intravenous
By End-User:
- Hospitals
- Clinics
- Ambulatory Surgical Centres
- Others
By Distribution Channel:
- Direct to Customer
- Retail
- Retail Pharmacies
- Drug Stores
- Online Pharmacies
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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