Retractable
Needle Safety Syringes Market, by Product Type (Manual Retractable Needle
Safety Syringe and Automated Retractable Needle Safety Syringe), by End Users
(Hospitals, Clinics, and Ambulatory Surgical Units) and by Region (North
America, Latin America, Europe, Asia Pacific, and Africa) - Global Industry
Insights, Trends, Outlook, and Opportunity Analysis, 2018 – 2026
A retractable needle safety
syringe is a type of safety syringe that comes along with integrated safety
mechanism. It is designed in such a way that protruding needle is withdrawn
into the barrel of syringe after the delivery of medication/dose. After medication
is expelled, the user has to apply extra pressure to the attached plunger to
break the seal and to retract the needle into the syringe. The retractable
needles are safe and real-time. These syringes also decrease the waste volume
as compared to other syringes. Retractable needles syringes are used in several
indications such as diabetes, tuberculosis, and cancer.
Major factors driving the growth
of global retractable needle safety syringes market are increasing incidences
of chronic diseases, rising geriatric population, and growing awareness among
the healthcare professionals. According to the American Diabetes Association,
in 2015, around 30.3 Americans had diabetes, which is 9.4% of the total U.S
population.
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Moreover, according to the World
Health Organization (WHO), in 2015, approximately 8.8 million people suffered
from cancer worldwide. Approximately, 70% of the cancer deaths are recorded in
low and middle income economies.
According to the World Health
Organization (WHO), approximately 16 billion injections are used annually out
of which almost 90% are given in curative conditions. The unsafe usage of
syringe is observed worldwide especially in emerging economies, which leads to
widespread infection amongst healthcare professionals and patients. Unsafe
syringe usage can cause hemorrhagic fevers such as Marburg and Ebola viruses,
malaria, and others. According to the
statistics published by WHO, 2012, unsafe syringe usage leads to 1.3 million
early deaths annually, direct medical costs of US$ 535 million and cumulative
loss of 26 million years of life.
Product innovations and
agreements are expected to favor the growth of the global retractable needle
safety syringes market
Regional segmentation of global
retractable needle safety syringe by Coherent Market Insights comprises of
North America, Latin America, Europe, Asia Pacific, Africa, and Middle
East. For instance, in May 2017,
Innovative Neurons LLC, a medical device company announced to commercialize its
patented auto retractable multi-needle syringe also known as FAST (fast,
accessible, safe and technology). The FAST technology is expected to decrease
the 40,000 needle stick injuries, endangering healthcare professional lives, in
the U.S per year. It also reduces the time required to inject medication with
multiple injections. It is also expected to reduce the cost by 29%, according
to the company claims.
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Moreover, in December 2017, an
Australia-based company, Numedico Technologies signed an agreement with Mana
Medical Services. According to agreement, the latter will distribute ClickZip
Needle Retractable Safety Syringe in New Zealand and Australia. The ClickZip is
conventional syringe with additional locking mechanism.
The market is oligopolistic in
nature with few market players dominating the market. The prominent players in
the global retractable needle safety syringes market include 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.
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