(Health-NewsWire.Net, April 11, 2018 ) Safety syringes carry with it an integral safety mechanism and either a detachable or a permanently connected needle. They assist in the prevention of accidental needle stick injuries. Many countries have introduced legislation that ensures the required use of safety syringes to decrease needle stick injuries and forestall needle re-use. Introduction of this legislation has led the usage of safety syringes and being additionally more used than standard syringes that successively has led to sizeable growth within the safety syringe market.
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The global Safety Syringes Market is estimated to have a value of USD 4620 million in 2016. With a CAGR of 8.96%, the market size is expected to grow rapidly to cross USD 7095 million by 2021. Rising incidence of needle stick injuries, the Government initiativew to include the utilization of safety syringes within the legislation, favorable compensation policies, and increased safety mechanisms for syringes are some of the factors that driving the market growth.
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Drivers and Restraints
The global safety syringes market is predicted to indicate substantial CAGR throughout the forecast amount. Primary reasons for this growth embody a rise within the incidence of needle stick injuries, the Government initiative to incorporate the utilization of safety syringes within the legislation, growing injectable market and improved safety mechanisms for syringes. However, various drug delivery ways and high value are two necessary factors that would considerably limit the expansion of this market. In rising economies, the protection syringes are neglected because of lack of awareness concerning health care and issues of safety. An increase in government initiative and health care and safety awareness might fuel the expansion of this market.
Over the past decade, there has been a substantial growth in usage of safety syringes over the standard syringes. Safety syringes carries with it associate integrated safety that helps to protect health care staff against accidental needle stick injuries.
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Regional Overview
North America was known because of the largest regional marketplace for safety syringes in 2012 with the bulk share of the general safety syringes market in terms of revenue. The region is witnessing a paradigm shift in usage of safety syringes over standard syringes. Because the North America market is additionally witnessing a growing demand for prefilled syringes equipped with safety options, growing prefilled syringes market has additionally been anticipated to drive the market growth
The major market contributors for the global Safety Syringes Market are Covidien plc, Retractable Technologies, Inc., Becton, Dickinson & Company, Terumo Corporation, Unilife Corporation, Revolutions Medical Corporation, Smiths Medical, Sol-Millennum, Ultimed, Inc., and Axel Bio Corporation
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