Increasing number of syringe injuries and greater incidences of chronic diseases across the world, along with high levels of medical development especially in developing regions will drive the market at a high CAGR during the forecast period.
The global retractable syringe market was valued at USD 1.7 Billion in 2018 and is expected to reach USD 3.1 Billion by year 2026, 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.
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The report initially offers market introduction, market overview, product scope, market opportunities, growth prospects, risks, limitations, and key drivers. The report also covers a comprehensive analysis of the competitive landscape with extensive profiling of the key competitors. It covers recent technological advancements, product developments, product launches, mergers and acquisitions, collaborations, joint ventures, and partnerships.
Key Companies in the market include:
Axel Bio Corporation, Becton, Dickinson and Company, DMC Medical Limited, Globe Medical Tech, Inc., Medtronic Plc, Medigard Limited, Retractable Technologies, Inc., Smiths Medical, Sol-Millennium, UltiMed, Inc. and others.
Regional segmentation comprises of a current and forecast estimation of the market in the key geographical regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers the scope of individual applications and types in each region. The report also covers details about production and consumption patterns, technological developments, revenue growth, market size, market share, key trends and demands influencing market growth in the region, and robust presence of key players in the region.
Market segment analysis:
Product (Revenue, USD Million; 2016–2026)
Type (Revenue, USD Million; 2016–2026)
- Active retraction
- Passive retraction
End Use (Revenue, USD Million; 2016–2026)
- Ambulatory Surgery Centers
Regional analysis further covers a country-wise analysis to offer insights into key trends and demands in each major country that might affect the growth of the market in the region.
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Key Features of the Global Retractable Needle Market Report:
- Comprehensive analysis of the key players operating in the market along with their SWOT analysis, their business profiles, business overview, market share, global position, and market value
- Identification and analysis of significant trends and factors driving revenue growth of the market
- Analysis of the competitive landscape along with strategic mergers, expansions, agreements, partnerships, joint ventures, acquisitions, and product launches
- Assessment of each market segment along with their growth trends and market revenue contribution
- Study of the key regions to pinpoint growth potential and study opportunities, threats, limitations, and risks
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