The safety needles market accounted for $1,609 million in 2018, and is expected to reach $3,009 million by 2026, registering a CAGR of 8.1% from 2019 to 2026.
Safety needle is a hollow, cylindrical needle bearing a puncturing point at the tip, which is attached to a syringe. It is used across medical settings in different applications such as drug delivery, vaccination, and blood specimen collection for examination and research purposes.
These needles are referred to as safety needles due to the extra function they perform. For instance, these safety devices are equipped with sheaths used to cover the needle to prevent needlestick injuries, which can cause lethal infections. Moreover, these needles use different systems to provide safety against needlestick injuries such as active safety needles require manual activation, whereas passive safety needles do not require any activation and are automatic.
The factors that boost the growth of safety needles market include surge in prevalence of needlestick injuries and increase in cases of chronic diseases & infections. Moreover, other factors that contribute toward the growth of the market include favorable government initiatives related to the use of safety needles.
However, factors such as high price of these needles and availability of alternative modes of drug delivery restrain the growth of the market. On the contrary, high growth potential in emerging economies is expected to create lucrative opportunities for the market during the forecast period.
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The global safety needle market is segmented based on product, end user, and region. On the basis of product, the market is bifurcated into active safety needles and passive safety needles. By end user, it is categorized into hospitals & ambulatory surgery centers, diabetic patients, family practice, psychiatry, and others. Region wise, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, UK, Italy, Spain, France, Czech Republic, Republic of Moldova, Poland, Hungary, Romania, Russia, Slovakia, Ukraine, Greece, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, Taiwan, and, rest of Asia-Pacific) and LAMEA (Brazil, South Africa, Saudi Arabia, UAE, Qatar, Lebanon, Jordan, and rest of LAMEA).
KEY BENEFITS FOR STAKEHOLDERS
• This report entails a detailed quantitative analysis along with the current global safety needles market trends from 2019 to 2026 to identify the prevailing opportunities along with the strategic assessment.
• The market size and estimations are based on a comprehensive analysis of key developments in the industry.
• A qualitative analysis based on innovative products facilitates strategic business planning.
• The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the market
Key Market Segments
• By Product
o Active Safety Needles
o Passive Safety Needles
• By End User
o Hospitals & Ambulatory Surgery Centers
o Diabetic Patients
o Family Practice
• By Region
o North America
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§ Czech Republic
§ Republic of Moldova
§ Rest of Europe
§ South Korea
§ Rest of Asia-Pacific
§ Saudi Arabia
§ South Africa
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§ Rest of LAMEA
List of key players profiled in the report:
• B. Braun Melsungen AG
• Becton, Dickinson and Company
• Cardinal Health
• Johnson & Johnson (Ethicon Inc.)
• Nipro Corporation
• Novo Nordisk A/S
• Retractable Technologies, Inc.
• Smiths Group Plc.
• Terumo Corporatio
• Vygon SA
LIST of OTHER PLAYERS IN THE VALUE CHAIN (These players are not profiled in the report. The same will be included on request)
• DeRoyal Industries
• Hindustan Syringes & Medical Devices Limited
• Hi-Tech Syringes