As per Future Market Insights (FMI) industry analysis, the Global Safety Syringe Market was valued at US$ 7,416.3 million in 2023. The market is anticipated to exhibit a CAGR of 4.5% from 2024 to 2034. It is projected to attain a valuation of US$ 12,054.3 million by 2034 from US$ 7,736.2 million in 2024.

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Notable technological developments in the safety syringe industry have created creative and efficient safety measures. To provide better protection and simplicity of use, manufacturers are producing a variety of safety syringes, including retractable, sheathing, and passive syringes. These technological developments have facilitated the expansion of the market.

Employee safety and well-being are becoming increasingly important to healthcare companies and institutions. Healthcare worker safety protocols are deemed complete with safety syringes since they lower the possibility of needlestick injuries. The need for safety syringes has surged due to the increased focus on the safety of healthcare workers.

Due to factors including population growth, aging populations, and the development of healthcare infrastructure, healthcare spending has been rising globally. Purchasing safety syringes account for a component of this expense, which is directed toward improving patient and healthcare worker safety. The market conditions for the safety syringes sector are good due to the increasing healthcare costs.

The market is growing due to rising awareness efforts and instructional programs about the value of safety syringes and the dangers of needlestick injuries. The use of safe syringes is on the rise due to aggressive awareness-raising campaigns by governments, healthcare organizations, and nonprofits, as well as training programs for medical staff.

Key Takeaways from the Market Study-

• By product, the retractable segment is expected to rise at a CAGR of 4.1% over the forecast period.
• By application, the subcutaneous segment held the leading market share of 65.7% in 2023.
• By distribution channel, retail sales generated the dominant market share of 71.3% in 2023.
• By end-users, the hospital segment is expected to surge at a CAGR of 2.8% from 2024 to 2034.
• North America is considered the leading region, expanding at a CAGR of 2.6% by 2034.

"The rising focus on the prevention of needle stick injuries and increasing risk of bloodborne disease would help push the market for safety syringes over the forecast period," says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.).

Safety Syringe Market Research Report Coverage: