Transparency Market Research has announced the publication of a new report, titled "Safety Syringes Market - Global Industry Analysis, Size, Volume, Share, Growth, Trends and Forecast, 2013 - 2019". The report discusses the strengths, weaknesses, threats, and opportunities that the global safety syringes market faces. With the help of a SWOT analysis and Porter's five forces analysis, the report compiles a comprehensive overview of the milestones of the market to chart its trajectory in the coming years.
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According to the research report, the global safety syringes market was valued at US$3.4 bn in 2012 and is estimated to reach a figure of US$6.5 bn by 2019, growing at a CAGR of 9.70% from 2013 to 2019. This impressive growth rate is attributable to the strict government regulations that are forcing manufacturers to design topnotch safety solutions for syringes with advanced technologies. The legal support is the result of the need to curb the growing incidence of blood-borne diseases.
The biggest challenge that the safety syringes market is trying to battle is the high cost of the products. The costs are hampering the speed of the revolution that these syringes can create as opposed to the use of traditional syringes.The global safety syringes market is segmented on the basis of product type and region. The products in the global safety syringes market are retractable safety syringes and non-retractable safety syringes. Geographically, this market is divided into regions such as Asia Pacific, North America, Europe, and Rest of the World.
In terms of region, North America held the biggest share in the global safety syringes market. This region's mark on the international market in terms of volume and revenue is attributable to the adoption of safety syringes in the healthcare sector. The market also grew by leaps and bounds as the usage of prefilled syringes soared in the region. The second place in the global market was occupied by Europe. The safety syringes market in the U.S. and European countries is expected to grow as manufacturing companies expand their businesses in the near future. Meanwhile, the market for safety syringes in Rest of the World and Asia Pacific is also expected to witness a rise due to the introduction of immunization programs by the United Nations' health bodies such as such as the World Health Organization (WHO) and the United Nations Children's Fund (UNICEF).
Some of the important players studied in this market research report are Unilife Corporation, Retractable Technologies, Inc., Smiths Medicals, Dickinson & Company, Smiths Medical, Becton, and Terumo Corporation. The chapter on company profiles discusses the overview, financial status, marketing and advertising strategies, product positioning, branding, research and development activities, and investment plans of major companies for the future.