The rising occurrence of needle stick injuries and growing health disorders worldwide is fueling the global automatic retractable safety syringes industry growth. The North American region is anticipated to lead the market growth in the forecast period.
A latest report by Research Dive on the global automatic retractable safety syringes market discloses that the market is estimated to surpass $3,201.0 million by 2027, rising at a CAGR of 9.4% from 2020 to 2027. The report endows the current outlook and future growth of the market. The research report is an ideal source of insights and statistics for companies and individuals interested in investing in the market. The report furnishes:
– A brief outline of the market with its definition, advantages, and application areas.
– Comprehensive insights on the market situation, dynamics, statistics, growth rate, revenues, market shares, and future predictions.
– Key market segments, drivers, limitations, and investment suitability.
– Present scenario of the global and regional market from the viewpoint of companies, countries, and end industries.
– Insights on leading market players, present market trends & developments, SWOT Analysis, Porter Five Analysis, and winning business strategies.
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• Factors Impacting the Market Growth:
According to the report, growing cases of needle stick injuries and rising health ailments over the world are shoving the demand for automatic retractable safety syringes, which is driving the growth of the global automatic retractable safety syringes market. Additionally, the growing investments in R&D and development of advanced automatic retractable safety syringes is expected to open up rewarding opportunities for the industry growth. However, lack of awareness and greater costs of automatic retractable safety syringes and presence of alternative drug delivery systems are likely to hinder the market growth.
• Segment Analysis:
The report segments the automatic retractable safety syringes market into type, application, and region.
Based on type, the report bifurcates the market into:
– 0.5 ml
– 1 ml
– 3 ml
– 5 ml
Among these, the 3ml segment is projected to observe highest growth throughout the estimated period; mostly because these syringes are extensively used by large pool of diabetic patients worldwide.
• Based on application, the report classifies the market into:
– Subcutaneous (Sub-Q)
– Intramuscular (IM)
– Intravenous (IV)
Among these, the intramuscular segment is expected to show remarkable growth in the forecast period. This is mainly owing to the extensive use of intramuscular syringes by doctors whenever detecting an appropriate vein is difficult or when there are chances of drug reactions and irritations in the veins.
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• Regional Analysis:
The report provides the condition of the global automatic retractable safety syringes market over numerous regions which includes:
– Asia Pacific
– North America
Among these, the North America region is projected to grab the highest market share of the automatic retractable safety syringes market in the forecast period. This is attributed to the increasing awareness and expenditure by consumers on medications and growing adoption of immunization techniques.
• Market Players and Business Strategies:
The report cites some of the leading players in the global automatic retractable safety syringes market which includes:
– Globe Medical Tech, Inc.
– Clik-Lok Australia Pty. Ltd.
– MEDIPRIM GmbH
– DMC Medical Limited
– Retractable Technologies, Inc.
– Frontier Medical Group
– Q STAT Safety Syringe
The study presents some of the wining business strategies of the players such as geographical expansions, ground-breaking developments, mergers and acquisitions, novel product inventions, along with Porter Five analysis and SWOT analysis.
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