The Asia-Pacific Safety Syringes Market is estimated at USD 739 million in 2016 and is predicted to reach USD 1241 million by 2021, growing at a CAGR of 10.92%
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Asia-Pacific Safety Syringes Market is growing with a CAGR of 10.92% to reach USD 1241 million by 2021, from USD 739 million in 2016, which amounts to a cumulative growth of USD 502 million.
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Injection practices worldwide, particularly in low- and middle-income countries (LMICs) include multiple, preventable unsafe practices that ultimately lead to large scale transmission of blood-borne viruses among patients, health-care providers and the community at large. Safety syringes are specifically designed to eradicate this situation and protect healthcare workers and others from accidental needle-stick injuries, which will subsequently protect the hospital professions from healthcare-acquired infections.
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The report also presents detailed analysis of multitude of factors affecting the Safety Syringes Market bearing either positive or negative outcomes.
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- rise in incidence of needlestick injuries
- new initiatives
- legislations by governments to incorporate the practice of safety syringes
- favourable reimbursement policies
- upgraded safety mechanisms for syringes
- quite a few countries have enforced regulations to ensure the compulsory use of safety syringes with an intention of preventing needle stick injuries and confine needle re-use.
- increase the common usage of safety syringes as compared to conventional syringes.
- availability of alternate drug delivery methods
- high price of safety syringes
- their ignorance in developing countries due to lack of proper awareness about healthcare and safety issues
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For granular level understanding the Safety Syringes Market is segmented based on type and application, each being provided with Market Size Estimations and Y-o-Y Forecasts. Based on Technology market for safety syringes market is segmented into Retractable and Non-Retractable safety syringes.
Based on Therapy market for safety syringes market is segmented into Insulin, GLP-1, Tuberculosis and Growth Hormones. Based on End Users market for safety syringes market is segmented into Hospitals and Home Care.
With India and China being the major economies which have unexplored customer base covered in the study the report also focuses on other regions like Japan, Australia, South Korea and Rest of Asia-Pacific.
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Some of the major companies functioning in the global safety syringes market are Covidien plc, Terumo Corporation, Becton, Dickinson & Company, Unilife Corporation, Revolutions Medical Corporation, Smiths Medical, Sol-Millennum, Ultimed, Inc., Axel Bio Corporation and Retractable Technologies, Inc. Many countries have introduced legislation that ensures compulsory use of safety syringes to decrease prevent needle re-use and needle stick injuries .
Introduction of this legislation has driven the safety syringes being more commonly used than conventional syringes.
The Asia- Pacific Safety Syringes Market report offers wide-range of scope:
- Regional and country-level analysisthat provides an individual perspective of Asia-Pacific region and the aforementioned countries
- Know more about key areas of industry growth via detailed Segment-level analysison basis of technology, Theraphy, end-user along with market size forecasts and y-o-y estimations
- Detailed explanation of major drivers, restraints, opportunities, and challenges(DROC) that affect the market and impact the ever-shifting market dynamics
- Strategic Analyses containing PESTLE and Porter’s Five Forces Analyses which are obtained by studying the macro & micro environmental factors that affect the market demographics
- Comprehensive listing of key market players along with Company overview, product portfolios, financials (subjected to availability), SWOT analysis and analyst overview
- Competitive landscape analysislisting out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- Market Outlook - Investment opportunitiesdevised by stand in expertsto provide both individuals and organizations a strong financial foothold in the market
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