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The global safety syringe market is expected to grow significantly due to the rising rate of genetic disorder worldwide. Rising cases of needlestick injuries amongst medical professionals are boosting demand for the product. Safety syringe is a type of colloquially that is specifically designed to reduce the risk of needle stick wound cases and augment security to prevent the transmission of infectious diseases amongst patients and healthcare experts.
The device consists of an inbuilt protection mechanism. They are either a detachable and permanently attached needle. These devices help to protect healthcare workers from accidental injection needles. These tools can prevent systems by automatically covering or locking the needles after use.
Increasing Needle Stick Injuries and Strict Regulatory Standards Boost Market Growth
The growing aspect of the market growth is the growing incidence of needle stick injuries. This rising rate of cases particularly in hospital settings are increasing demand for the devices. They pose a major threat to staff working in medical care centers and can lead to the spread of various blood borne disorders such as HIV, hepatitis B, and hepatitis C. Escalating responsiveness and distress regarding such cases are bolstering demand for the system.
Furthermore, the government initiatives for the incorporated use of the product and favorable enumeration policies are boosting the market. Many countries have to expose the date regulations to make sure the compulsory use of the devices reduces the incidence of needle stick injuries. Regulatory bodies across the world are imposing rigorous prevention standards and are encouraging adoption of tools in medical and pharmaceutical sectors.
High Cost of Devices and Limited Awareness in Low-Resource Settings Impede Market Growth
The limiting factor for market impediment is the high cost of these tools with respect to the traditional devices. The addition of protection features incorporated into the devices is raising cost of production which is deterring low-budget healthcare sector to adopt the solution. Hence, the expensiveness factor is declining demand for the devices and consequently impeding market growth. Furthermore, limited awareness in underdeveloped regions is hindering market growth. The lack of knowledge among many doctors working in low-resources settings and lack of adequate training on proper use of the tools are hampering market growth.
Technological Advancement and Rising Healthcare Expenditures Create Opportunity for Market Growth
One of the significant opportunities that may augment market expansion is implementation of advanced technologies into the devices. The development of innovative and more efficient security mechanisms offering novel tools to the end-users. Manufacturers are introducing numerous tools which provide improved protection and easy to use includes self-retracting, sheathing, and passive injections.
Furthermore, the rising healthcare budget is assisting in expansion of healthcare infrastructures and presents another opening for market growth. Adoption of the tool in hospitals and clinics are increasing due to the improved infrastructure of medical sectors. For instance, according to the Ministry of Health of Malaysia (MOH), there is an investment in hypo protection programs worth USD 25 million by Malaysia.
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The report covers the following key insights:
Based on product type, the safety syringe market is divided into Retractable safety syringes (automatic and manual) and non-retractable safety syringes (hinged needle cover syringes, fixed needle safety syringes, sheathing tube safety syringes, and others (shielded needle safety syringes, sliding needle cover syringes).
Retractable safety syringes segment is dominating in the market, driven by its enhanced defensive properties. It can diminish the risks associated with injections.
The non-retractable safety syringes are expecting growth in the market, caused by its offerings such as lower cost alternative solutions. This segment offers various types of injection devices that cater to diverse purposes.
Based on route of administration, the safety syringe market is divided into subcutaneous and intramuscular.
The subcutaneous injections are leading the market, driven by the rising utilization with growing rate of chronic conditions. Increasing preference for home-based healthcare solutions and the increasing number of patients who need injectable medicines are supporting growth.
The intramuscular injection is anticipated to grow in the market, caused by the increasing number of immunization programs and rising rate of diseases. They are generally used for vaccines and medications.
Based on application, the safety syringe market is divided into drug delivery, blood collection, and others (anesthesia, vaccination).
Drug delivery is leading the segment in the market. The growth is attributed to the rising exploitation of safe needles and delivers various medicines across a range of clinical practices.
The blood collection is projected to grow in the market, caused by the increasing rate of initiatives and programs associated with blood donation and growing rate of diabetic pollution.
Based on end user, the safety syringe market is divided into hospitals & ASCs, specialty clinics, home care, and others (blood donation camps).
The hospital & ASCs is the leading segment in the market, caused by the high volume of procedures necessitating injection. Rising utilization of these facilities in various purposes are impelling growth of the product.
The specialty clinic is expecting substantial growth in the market. The growth is due to the high demand of the tools for performing medical procedures and vaccinations.
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Based on geography, the market has been studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America is dominating the market, driven by the obligation of strict protection regulations. Rising rate of incidence of healthcare workers needlestick injuries are impelling demand for the market growth. Increasing investment in the medical sector and implementation of comprehensive workplace protection standards are bolstering demand for the product, and consequently, impelling market expansion.
Europe is witnessing substantial market growth, caused by the rising focus on prioritizing worker security and infection control. Imposition of set of rule mandates for protective devices and existence of a well-established healthcare system particularly in countries such as Germany and the U.K. are fostering market growth.
Asia Pacific is expected to be the fastest growing region due to the ongoing immunization programs sponsored by the WHO and UNIC. Governments are spending huge amounts on spreading awareness of insecure injection practices and are boosting demand for the product. Rising attention to product cost-effective manufacturing solutions and improving healthcare facilities are fostering market growth.
The report includes the profiles of the following key players:
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