(PharmaNewsWire.Com, September 11, 2017 ) According to the report Europe Safety Syringes Market, published by Market Data Forecast the Market is estimated at USD 1201 million in 2016 and is predicted to reach USD 1762 million by 2021, growing at a CAGR of 7.97%. Injections are one of the most common health-care procedures. Every year at least 16 billion injections are administered worldwide. The vast majority around 90% are given in curative care. Immunization injections account for around 5% of all injections.
With the ever rising demand to protect healthcare professionals from accidental needle-stick injuries and hospital-acquired infections, there has been an upsurge in demand for safety syringes. Further, rising occurrences of needlestick injuries, government initiatives and legislations to integrate the practice of safety syringes, improved safety mechanisms for syringes and favourable reimbursement policies are supporting the growth of Safety syringes market in European countries. Presently, several countries have enforced regulations to ensure the compulsory use of safety syringes with an aim of preventing needle stick injuries and restrict needle re-use. However, accessibility to alternate drug delivery methods, expensiveness of safety syringes, ignorance in low income regions due to unawareness about healthcare and safety issues are few factors preventing the steady growth of Europe safety syringes market.
The Europe safety syringes market can be classified on the basis of technology into Retractable and Non-Retractable safety syringes. The retractable syringes market is further segmented into Manual or Automatic syringes. And the non-retractable safety syringes are sub-segmented into sliding needle cover syringes, sheathing tube syringes, and hinged needle cover syringes. Non-retractable safety syringes hold the major share of sales in the European countries while the retractable safety syringes segment is projected to rise at a higher CAGR during the forecast period. Furthermore, on the basis of therapy, the safety syringes market can be categorized under Insulin, Glucagon-like peptide-1 (GLP-1), Tuberculosis and Growth Hormones. Moreover, taking into account end users, the Europe safety syringe market is branded under hospitals and home care segments.
Geographically, the Europe safety syringe market is segmented and analysed U.K, Italy, Spain, France and Germany. European countries together hols the second position in terms of revenue as well as volume in the global safety syringes market. United Kingdom represents the largest share of the Europe safety syringes market, followed by Germany. While Spain is expected to record highest CAGR within the forecast period. Further, the growing demand for prefilled syringes fortified with safety features in this region is also adding to the market growth.
Some of the major companies operating in the Europe safety syringes market are Retractable Technologies, Inc, Covidien plc, Terumo Corporation, Unilife Corporation, Revolutions Medical Corporation, Smiths Medical, Axel Bio Corporation, Sol-Millennum, Becton, Dickinson & Company and Ultimed, Inc.
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