Retractable Safety Syringe Market Size, Share, Analysis, Trends, Growth, 2032

Retractable Safety Syringe Industry Perspective

The global retractable safety syringe market size accrued earnings worth approximately USD 8.93 Billion in 2023 and is predicted to gain revenue of about USD 14.58 Billion by 2032, is set to record a CAGR of nearly 5.6% over the period from 2024 to 2032.

The report covers a forecast and an analysis of the retractable safety syringe market on a global and regional level. The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD Billion). The study includes drivers and restraints of the retractable safety syringe market along with their impact on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the retractable safety syringe market on a global and regional level.

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In order to give the users a comprehensive view of the retractable safety syringe market, we have included a competitive landscape and an analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.

Retractable Safety Syringe Market: Overview

Safety syringes are internally assembled with safety mechanisms. The needles used in these syringes are either permanently attached or detachable. It is devised to safeguard healthcare professionals, patients, and other users from needle stick injuries. After the delivery of drugs through injection, the needle is retracted into the barrel. Retractable syringes either use spring-loaded automated retraction or manual retraction method to pull out the needle back into the barrel. Once the delivery of dosage through injection is completed and the liquid is expelled, the user has to apply extra pressure to the plunger to interrupt the seal and retract the needle inside the syringe. In comparison to other syringes, retractable syringes account for fewer wastage amounts. These syringes are safe and time-saving apart from being widely utilized in treating polygenic disease, diabetes, cancer, TB, etc.

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The report provides company market share analysis to give a broader overview of the key players in the retractable safety syringe market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new launch, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the retractable safety syringe market on a global and regional basis.

Retractable Safety Syringe Market: Growth Factors

The worldwide retractable safety syringe market is growing swiftly, owing to the increasing needle stick injuries and reuse of syringes. The rising number of initiatives taken by government bodies to assimilate and maximize the use of retractable safety syringes in legislation, favorable reimbursement policies, innovative safety mechanisms, and innovation in syringe manufacturing technology will further drive this market.

Retractable needle safety syringes are principally preferred over conventional syringes and, therefore, have tremendous potential for growth. Additionally, the high prevalence of chronic diseases, such as diabetes, will also fuel the retractable safety syringe market growth. However, the elevated prices of syringe mechanism devices, the lack of awareness regarding healthcare, and safety issues in emerging economies may restrict this market's development.

Retractable Safety Syringe Market: Segmentation

The study provides a decisive view of the retractable safety syringe market by segmenting it based on product, end-user, and region.

By product, the market includes manual and automatic. Automatic retractable safety syringes are preferred over manual syringes as they are simple to use alongside increasing healthcare awareness, rising incidences of tuberculosis and diabetes, and intensive immunization programs proposed by organizations like UNICEF and WHO.

Based on end-user, the market comprises hospitals, clinics, ambulatory surgery centers, and others. Hospitals lead the retractable needle safety syringe market globally and are rapidly growing owing to the WHO guideline for use of smart and safe syringes.

The regional segment includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Retractable Safety Syringe Market: Report Scope

Retractable Safety Syringe Market: Regional Insights

North America dominated the retractable safety syringe market with highest revenue share in 2023, due to the increasing prevalence of diabetes, tuberculosis, availability of advanced healthcare infrastructure, increasing adoption of immunization techniques, and the regional presence of key market players. North America is estimated to remain at the top position over the forecast time period, owing to the favorable government regulation and initiatives for safety practices, increasing incidences of needle stick injuries, and rising public and private funding for R&D. Europe contributed the second-largest revenue share in 2023 to the retractable safety syringe market, due to the high diabetes burden, wide adoption of technologically advanced products, and increasing regional healthcare spending. The Asia Pacific retractable safety syringe market will register the highest CAGR over the forecast time period, owing to the increasing aging population, rising diabetes prevalence, ongoing clinical trials related to curing tuberculosis, and escalating use of non-sterile needles and unsafe injections .

Retractable Safety Syringe Market: Competitive Space

Some key players in the retractable safety syringe market include

• Becton
• Dickinson and Company
• UltiMed
• Axel Bio
• Unilife
• Retractable Technologies
• Terumo Corporation
• Smiths Medical
• Revolutions Medical
• Covidien
• Medtronic
• And Others

This report segments the global Retractable Safety Syringe Market as follows:

Global Retractable Safety Syringe Market: By Product

• Manual
• Automatic

Global Retractable Safety Syringe Market: By End-User

• Clinics
• Hospitals
• Ambulatory Surgery Centers
• Others

Global Retractable Safety Syringe Market: By Region

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa