Retractable Needle Safety Syringes Market (Forecast Period 2021-2028): The report provides a valuable source of insightful data for business strategists and competitive analysis of Retractable Needle Safety Syringes Market. The study covers important knowledge that makes the analysis document a handy resource for managers, analysts, business consultants and different key individuals get ready-to-access and self-analyzed study in conjunction with graphs and tables to assist perceive market trends, drivers and market challenges.It also highlights the restraints and opportunities expected to influence the market’s growth during the said period. The study provides a holistic perspective on the market’s growth throughout the above mentioned forecast period in terms of revenue(in US$ Mn) and Volume (Thousand Units), across different geographies.

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Major Players In This Market Are: Retractable Technologies, Inc., Becton, Dickinson and Company, Medtronic plc, Axel Bio Corporation, DMC Medical Limited, Sol-Millennium, Medigard Limited, Smiths Medical Inc., Globe Medical Tech, Inc., and UltiMed, Inc.

The injectable route of administration is widely used for various purposes such as diagnosis, prevention, and treatment of diseases. A retractable needle safety syringe is a type of safety syringe that comes along with integrated safety mechanism. The safety mechanism is designed to protect healthcare workers from accidental needlestick injuries. The retractable needles are safe and real-time. Retractable needles are used in several indications such as cancer, tuberculosis, and diabetes. Major factors driving the retractable needle safety syringes market growth are growing awareness among the healthcare professionals, rising geriatric population, and the increasing prevalence of chronic diseases worldwide, especially in North America and the Asia Pacific.

According to the World Health Organization, chronic diseases, such as diabetes, cancer, and heart disease are the leading causes of death and disability worldwide. Moreover, according to the Centers for Disease Control and Prevention (CDC), chronic diseases are the leading causes of death and disability in the United States. The retractable needle safety syringes market is expected to show considerable growth due to rising incidence of needle-stick injuries, favorable reimbursement policies, growing utilization of safety syringes in the legislation, and enhanced safety mechanisms for syringes.

Needlestick are a common occurrence in the health care profession. According to CDC, every year, around 600,000 to 800,000 needlestick occur in the United States, which may lead to serious or potentially fatal infections with blood-borne pathogens such as HIV, hepatitis C virus, or hepatitis B virus. Needlestick injuries are wounds caused by needles that accidentally puncture the skin. Thus, many countries around the world have mandated the use of safety syringes aimed at reducing needlestick injuries and preventing needle reuse. These injuries can occur at any time when people use, disassemble, or dispose of needles.

The emergence of COVID-19 is also expected to offer some lucrative opportunities for players active in the retractable needle safety syringes market, as there is an increasing demand for safety syringes all over the world. In March 2021, Hindustan Syringes and Medical Devices Ltd (HMD) received another order to supply of 265 million auto disable syringes (AD Syringes) from Government of India for COVID Shots. Whereas, in May 2020, HMD invested over US$ 15 million to mass produce specialty syringes even before purchase orders were even in sight. HMD is currently producing 800 million syringes per annum and hope to achieve capacity of one billion by June 2021 and 1.2 billion by September 2021.

However, factors such as high cost and alternative drug delivery methods are restraining the growth of retractable needle safety syringes market.

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In this study, the years considered to estimate the market size of Retractable Needle Safety Syringes are as follows:

History Year: 2017-2020

Base Year: 2020

Estimated Year: 2021

Forecast Year 2021 to 2028

The next part also sheds light on the gap between supply and consumption. Apart from the mentioned information, growth rate of Retractable Needle Safety Syringes Market in 2028 is also explained. Additionally, type wise and application wise consumption tables and figures of Retractable Needle Safety Syringes Market are also given.

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