Business Issues Slowing Growth of Retractable Syringes

(Amherst, NH) – Concern over sharps cross-contamination and caregiver safety continues to drive technology and commercial innovation in the safety syringe sector. Following the lead of the Needlestick Safety and Prevention Act in the U.S., government regulations regarding syringe needle handling and disposal continue to proliferate worldwide, fostering increased demand in the use of safety syringes. Retractable syringes represent the most elegant approach to addressing the caregiver sharps risk issue by lowering the risk of user error and de-emphasizing the need for a separate sharps disposal step.

New retractable designs address caregiver preferences while reducing part counts and manufacturing steps. These refinements are helping to close the price gap with naked disposable syringes, and this development will help retractable syringe manufacturers and their distribution partners make a stronger sales case with the healthcare buying groups that account for the vast majority of syringe purchases.

Beyond price and functionality, several factors are slowing the market acceptance of retractable syringes. Many participants in this sector are undercapitalized and unprepared for the lengthy development, approval and sales cycle steps required to establish a foothold against entrenched devices, user habits, buying cycles and competitors. Patent and IP challenges are another risk area that has impacted and in some cases derailed the product plans of aspiring market entrants.

The considerable business potential of this sector continues to attract new companies, but the path to market acceptance will continue to be both long and fraught with risk. To survive and prosper, participants will require the financial resources and healthcare industry relationships to successfully navigate the competitive and institutional landscape.

More information is available at www.greystoneassociates.org .

About Greystone

Greystone Associates is a medical and healthcare technology consulting firm providing services in strategic planning, venture development, product commercialization, and technology and market assessment.

Contact:

Mark Smith
Voice: 603-595-4340
Fax: 603-804-0466
www.greystoneassociates.org
Source: Greystone Associates