25.08.2009 19:45:37 Greystone Associates Analyzes Devices, Market Segments and Strategic Factors Influencing Demand for Retractable Safety Syringes and Assesses Future Prospects
(live-PR.com) - (Amherst, NH) – In the ten years since the risk of cross contamination to healthcare workers due to accidental needlesticks came to the forefront, the number of safety syringes and injection devices as a portion of all devices has steadily increased annually. This shift has been most dramatic in the U.S., where regulatory initiatives requiring the use of syringes that
limit caregiver exposure to used needles were put into place in 2001. Europe is slowly moving to implement similar standards, but the process is hampered by the need to obtain consensus across the numerous member states of the EU.
Approaches to meeting the requirements regarding the risk of needlestick injuries are numerous, and include both designed-in or integrated (OEM) solutions and third-party safety devices that can be added to traditional disposable syringes. But the ‘gold standard’ for safety syringes has become the retractable safety syringe, an approach that eliminates the need for the caregiver to manually cap or disable the needle after use. In a 2008 survey of U.S. nurses, almost half of all respondents expressed a preference for retractable safety syringes. In spite of such a favorable demand profile, retractable syringes continue to struggle to reach their full market potential.
“The initial battleground is and will continue to be the U.S., and it is here that market participants must establish a foothold to be viable in the long term,” explains George Perros, Greystone Associates Managing Director. “Within the U.S. market, a number of factors continue to present challenges to retractable safety syringe suppliers. Price points for retractable devices – both manual and automatic - have come down as designs have improved and part counts have decreased, but are still 30 to 50 percent above retrofitted safety syringes, a cost disadvantage that is significant enough to create a hard stop for many purchasing decision makers.”
Shifting healthcare purchasing trends represent another major hurdle. As healthcare facilities pool their buying activities and purchase through major procurement channels to reduce costs, entry level suppliers are finding it increasingly difficult to gain a foothold. “These buying organizations account for the majority of healthcare purchases in the U.S., notes Perros. “With the exception of Becton Dickinson, most retractable companies are small players with no relationships in this arena.”
Retractable syringe suppliers are adjusting their strategies to address the current market realities. “OMI’s distribution agreement with Cardinal Health is the type of strategy that is needed to open up the North American market. And Unilife Medical’s alliance with Gerresheimer Buende for the development of Unilife’s prefilled glass retractable syringe supports the company’s forward-looking strategy to pursue the increasingly important prefilled syringe segment, a market that is growing at fourteen percent annually,” adds Perros.
A new research study, Retractable Safety Syringes: Devices, Strategies, Markets and Opportunities is now available. The report analyzes the regional and global markets for retractable safety syringes, assesses device strategies and market factors, examines the influence of outsourced manufacturing, evaluates the impact of regulatory and legislative activity on market demand, and provides market forecasts to 2012.
More information is available at www.greystoneassociates.org .
About Greystone
Greystone Associates is a medical technology consulting firm focused on the areas of medical market strategy, product commercialization, venture development, and market research. We assist medical and healthcare market participants in achieving their business objectives through the creation of detailed development strategies, product commercialization programs, and comprehensive market and technology research and analysis. Our market research publications are designed, researched and written to provide timely and insightful information and data on focused market segments, with the aim of providing market participants with the essential knowledge to refine and execute their marketing plans and financial targets
UNI Price at posting:
79.0¢ Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)