Table of Contents
With increasing awareness about occupational safety and growing concern on the prevention of needlestick injury, safety injection devices have gained increased attention from the manufacturers and healthcare professionals worldwide. The accelerated emergence of regulatory controls over the past few years have further ensured that manufacturers come up with modifications in the product design and integrated safety controls to meet the requirements.
Safety injection devices, which include safety syringes and safety needles, are designed to enhance safety of the drug administration process and eliminate needlestick injuries - a major cause of blood-borne infections. The current growth in the market for a variety of safety injection devices is primarily underpinned by the evolving needs of the patients and the requirement for better and safer syringe systems.
These devices have several advantages over traditional drug delivery systems. Most importantly, the addition of safety feature provides optimal protection to the healthcare practitioners and patients, reducing the risk of accidental needlestick injuries. Specifically, in case of a retractable syringe, the needle is locked into the barrel of the syringe and the entire assembly can be safely disposed of. The cost of disposal of a safety syringe is relatively much lower compared to a conventional syringe. Despite a marginally relatively higher purchase price, these devices are known to offer long term economic advantage if the consequences of a needlestick injury and associated treatment expenses are taken into consideration.
In addition to the existing established device manufacturers, the market has seen the presence of some relatively new players. These start-ups have recently introduced some important safety devices with innovative features. The need for improvement in safety mechanisms and functionality of the devices will continue to present positive growth prospects for the market in the foreseeable future.
SCOPE OF THE REPORT
The ‘Needlestick Safety Injection Devices Market, 2014-2024’ report provides an extensive study of the growing market of safety injection devices. This includes safety syringes, safety needles and other add-on safety tools. Due to the recent surge of regulations and the need for injection safety at healthcare settings, safety injection devices have emerged as one of the key focus areas for device manufacturers. The market is characterized by the presence of around 70 safety injection devices providing optimal protection from needlestick injuries to the patients as well as caregivers. When compared to the conventional drug delivery systems, these devices offer several other advantages including convenient disposal and long-term economic advantage. The focus of this report is primarily to understand the governing trends and the likely future evolution of these devices over the next decade.
The report covers various aspects such as regulatory guidelines, market developments, recent partnerships and our opinion on the likely drivers which will influence the industry’s evolution. In addition, we have provided a holistic view of the market landscape including detailed profiles of leading devices, key features and their comparative position vis-à-vis other devices. The future growth in the market will primarily be driven by the rapidly expanding injectable drugs market and regulatory legislations encouraging the use of safety injection devices. Innovation in design and advanced safety mechanisms will continue to present development prospects in the years ahead.
Despite some of these key benefits and a promising future, the study also highlights considerable challenges associated with the use and implementation of these devices. The modification in design and incorporation of safety features present operational challenges to the administrators. Furthermore, cost is yet another factor that can significantly restrain the market in the short term. However, as the sales volume gains momentum, prices are expected to come down which will further drive the uptake of such devices.
The base year for the report is 2013. The study provides short-midterm and long term market forecasts for the period 2014 - 2019 and 2019 - 2024, respectively. The research, analysis and insights presented in this report is backed by a deep understanding of key insights gathered from both secondary and primary research.
1. During our research, we identified 72 safety injection devices manufactured by 39 companies. Out of these, 46 were safety syringes, followed by safety needles (17) and other add-on safety tools (9).
2. Becton Dickinson, Covidien and Terumo Medical Corporation are amongst the pioneers in the safety injection devices industry. The market however is fragmented and 58% of the safety injection devices are manufactured by smaller companies.
3. While the use of safety syringes has been mandated in the US, Europe and other international markets are moving towards the use and adoption of these devices. In addition to the established companies in the US and the Europe, the market has the emergence of some regional players including Beipu, UNIQSAFE Biomeditech Company and Formosa Medical Devices.
4. Technological advancements are likely to be one of the primary drivers of the market. Examples include the emergence of needleless systems and prefilled syringes with safety features.
5. The global market for safety syringes is likely to grow at a CAGR of 9.0% during 2014 – 2024. Non-retractable syringes currently capture a larger share of the total market. However, it is anticipated that wider customer adoption and declining prices will likely result in retractable syringes gaining a larger share of the pie in the coming decade.
Most of the data presented in this report has been gathered by secondary research. We have also conducted interviews with experts in the area (academia, industry, medical practice and other associations) to solicit their opinions on emerging trends in the market. This is primarily useful for us to draw out our own opinion on how the market will shape up across different regions and drug segments. Where possible, the available data has been checked for accuracy from multiple sources of information.
The secondary sources of information include
- Annual reports
- Investor presentations
- SEC filings
- Industry databases
- News releases from company websites
- Government policy documents
- Other analysts’ opinion reports
While the focus has been on forecasting the market over the coming ten years, the report also provides our independent view on various technological and non-commercial trends emerging in the industry. This opinion is solely based on our knowledge, research and understanding of the relevant market gathered from various secondary and primary sources of information
Chapter 2 provides an executive summary of the insights captured in our research. The summary offers a high level view on the likely evolution of safety injection devices.
Chapter 3 provides a general introduction on the safety injection devices. We have also covered, in detail, the concept behind needlestick injuries, regulatory landscape, categorization of safety devices and associated challenges with the use of such devices.
Chapter 4 identifies the various safety devices available in the market; these include safety syringes, safety needles and add-on safety tools. The chapter also provides details on some alternative needle based safety devices including safety blood collection/infusion sets, auto-injectors, blunt fill needles and needleless injection and connector systems.
Chapter 5 includes analysis of various safety syringes that are available in the market, with detailed description on retractable and non-retractable syringes. An in-depth review, including distribution by type of safety feature, mode of activation, and analysis by price, has been covered in this chapter. The chapter also includes a comprehensive section on product profiles wherein all the safety syringes identified have been explained, with information on the product development history, usage/mechanism and key advantages.
Chapter 6 focuses specifically on safety needles that are currently available in the market. It provides a comprehensive review of the key parameters related to these devices including the mode of activation and price. In addition, it includes profiles of all the safety needles we were able to identify in the research.
Chapter 7 analyzes the market developments with respect to safety injection devices. It discusses the drugs and therapeutic products that are marketed along with the safety devices. It also contains information about the partnerships in this field that have taken place in the past few years.
Chapter 8 presents a detailed ten year forecast for the safety syringes market. Due to the uncertainty surrounding some of the key assumptions, we have presented three different growth tracks outlined as conservative, base and optimistic scenarios.
Chapter 9 includes profiles of key companies active in the safety injection devices market. Each company profile includes information such as financial performance, product portfolio, recent developments and future growth outlook.
Chapter 10 provides information on the regional/other manufacturers which have been actively involved in the market. The chapter also contains a section on the comparison of product portfolio for these companies.
Chapter 11 provides the SWOT analysis of the safety injection devices market giving strategic insights to the major factors that are likely to drive future growth while also highlighting the weakness and threats that can negatively impact the industry’s evolution.
Chapter 12 is a collection of transcripts of interviews conducted during the course of this study.
Chapter 13 summarizes the overall report. In this chapter, we provide a recap of the key takeaways and our independent opinion based on the research and analysis described in previous chapters.
Chapter 14 is an appendix which provides tabulated data and numbers for all the figures provided in the report.
Chapter 15 is an appendix which provides a list of companies and organizations mentioned in the report.
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