According to the current analysis of Reports and Data, the global retractable syringe market was valued at USD 1.97 Billion in 2020 and is expected to reach USD 3.63 Billion by year 2028, at a CAGR of 7.9%. The market for retractable needle is growing out of critical healthcare-worker needs for safety. The safety needles industry that has grown from its nascent to the advanced stages very rapidly. The sector sees burgeoning demand from the sub-Saharan African and Asia Pacific region. The market can be divided into several segments and sub-segments today. It includes services ranging from unskilled care to skilled nursing. The product range is also very wide, and so is the scope and need for specializations. Many large pharmaceutical players have lately started investing in the market.
Needle-stick injuries are a predominant sharps-related hazard in many countries. According to the World Health Organisation (WHO), each year, two million injuries from syringes and other sharp objects occur to 35 million health care workers in the world. The Centres for Disease Control and Prevention (CDC), estimated approximately 385,000 needle-sticks and other sharps injuries occur annually in U.S. hospitals. In Singapore, a study on sharps injury reported 22.2 incidents per 1000 health-care workers at a regional hospital for the year 1997. Numerous studies have found nurses to be the most common group of health-care workers experiencing needle-stick injuries. Canadian Centre for Occupational Health and Safety (CCOHS) data indicated that some hospitals reported one-third of nursing and laboratory staff suffer needle stick injury annually.
Although nurses appeared to be the professional group most prone to sharps injuries, several studies have emphasized that sharps injuries are under reported by healthcare workers, making available incidence rates a less accurate reflection of the sharp injury occurrences. In fact, there is a tendency to under-report among various professional groups, with rates ranging from 30 to 60% for nurses, 13 to 15% for laboratory personnel, and 70–95% for physicians. Needle stick injury carries the possibility of exposure to any of more than 20 blood borne illnesses. The most clinically significant of these illnesses are hepatitis caused by the hepatitis B virus (HBV) or the hepatitis C virus (HCV) and acquired immunodeficiency syndrome (AIDS) due to the human immunodeficiency virus (HIV). Safer needle devices are designed to reduce the incidence of needle-stick injuries particularly in clinical setting, to prevent the risk of disease transmission from the patients to health care workers. In Retractable Needles, after the administration of the syringe contents, the hypodermic needle retracts to the inside of the barrel of the syringe. This can be triggered automatically through normal use of the syringe, or through an active input from the user.
Market Overview:
The pharma and healthcare industry is at a crossroads. Patients are benefiting from the promise of cell and gene therapies; uncommon diseases that were previously thought to be incurable are on the verge of finding true treatments. Artificial intelligence (AI) and machine-learning technologies are creating hopes that therapy discovery and development would be more innovative, as well as faster and cheaper. Manufacturing, the supply chain, and the entire healthcare ecosystem all have the potential to benefit from data-driven initiatives. Consumer attitudes and behaviours are shifting in a variety of ways, from growing use of technology and willingness to share data to an interest in using tools to make prescription and treatment decisions. Such factors will drive pharma and healthcare market growth in the coming years.
Key Players covered in this report are:
Axel Bio Corporation, Becton Dickinson and Company, DMC Medical Limited, Medtronic Plc, Medigard Limited, Retractable Technologies, Inc., Smith’s Medical Corp, Sol-Millennium Inc., UltiMed, Inc., and Retractable Technologies, Inc.
Product (Revenue, USD Million; 2018–2028)
- Manual Retractable Needles
- Automatic Retractable Needles
Type (Revenue, USD Million; 2018–2028)
- Active retraction
- Passive retraction
End Use (Revenue, USD Million; 2018–2028)
- Clinics
- Hospitals
- Ambulatory Surgery Centres
- Others
Based on Region market is segmented into:
- North America
- Europe
- Asia-Pacific
- South America
- Middle East Africa
Request customization Report of Retractable Needle Market @ https://www.reportsanddata.com/request-customization-form/2099
Major Points covered in this report are as below:
• The Retractable Needle industry development trends and marketing channels are analyzed. The feasibility of new investment projects are assessed and overall research conclusions offered.
• With the tables and figures, the report provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.
• Development policies and plans, manufacturing processes and cost structures are also analyzed. This report also states import/export consumption, supply and demand figures, cost, price, revenue and gross margins.
• The Retractable Needle Market report provides key statistics on the market status of the Retractable Needle manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
We can also provide the customized data for separate regions like North America, United States, Canada, Mexico, Asia-Pacific, China, India, Japan, South Korea, Australia, Indonesia, Singapore, Rest of Asia-Pacific, Europe, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, Central South America, Brazil, Argentina, Rest of South America, Middle East Africa, Saudi Arabia, Turkey, Rest of Middle East Africa
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behaviour shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
