Safety injection devices, such as safety syringes and safety needles are designed to eliminate needlestick injuries while also increasing the safety of drug administration.
Here are five things to know about the global safety injection device market from Report Linker, a market research solution.
1. The global market for safety syringes is expected to grow at a compound annual growth rate of 9 percent over the next 10 years, with a large share of the total market occupied by non-retractable syringes.
2. However, the report indicates increased customer adoption and declining prices may lead to retractable syringes gaining a bigger market share over the next 10 years.
3. The report from Report Linker identifies Becton Dickinson, Covidien and Terumo Medical Corp. as "pioneers in the safety injection devices industry," although 58 percent of safety injection devices are manufactured by smaller companies.
4. Advancements in technology are a significant driver of this market. The development of needleless systems and prefilled syringes with safety features are gaining market share.
5. Another driver may be that more markets, such as Europe, are pushing for the use and adoption of safety injection devices. The United States already mandates the use of safety syringes.
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