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).
The healthcare sector is vital to both national economies and people all across the world. One of the industries with the fastest growth rates is this one. There is a correlation between income levels and healthcare spending across nations because healthcare spending accounts for more than 10% of the GDP of the majority of developed countries. According to the Centers for Medicare and Medicaid Services, US healthcare spending increased by 4.6% in 2019 to reach US$ 3.8 trillion, or US$ 11,582 per person and represented 17.7% of GDP. Additionally, households paid for 28.4% of all health expenditures, followed by the federal government for 29.0%. 16.1% of all healthcare costs were paid for by state and municipal governments, while 7.5% came from other private sources.
Due to advancements spurred by AI/ML, the impact of digital health technology will grow. Data from the Department for Promotion of Industry and Internal Trade show that FDI in the medicines and medication sector totaled US$19.12 billion (DPIIT).
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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
o Psychiatry
o Others
o Others
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> By Region
o North America
? U.S.
? Canada
? Mexico
o Europe
? Germany
? France
? UK
? Italy
? Spain
? Czech Republic
? Republic of Moldova
? Poland
? Hungary
? Romania
? Russia
? Slovakia
? Ukraine
? Greece
? Rest of Europe
o Asia-Pacific
? Japan
? China
? India
? Australia
? South Korea
? Taiwan
? Rest of Asia-Pacific
o LAMEA
? Brazil
? Saudi Arabia
? South Africa
? UAE
? Qatar
? Lebanon
? Jordan
? 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
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
Some of the Key Questions Answered in this Report:
- What is the Market dimension at the regional and country-level?
- What are the key drivers, restraints, opportunities, and challenges of the Market, and how they are anticipated to influence the market?
- What is the international (North America, Europe, Asia-Pacific, South America, Middle East and Africa) income value, manufacturing value, consumption value, import and export of Market?
- Who are the world key producers of the Market Industry? How is their working state of affairs (capacity, production, sales, price, cost, gross, and revenue)?
- What are the Market possibilities and threats confronted via the carriers in the world Market Industry?
- Which application/end-user or product kind may also be seeking for incremental boom prospects? What is the market share of every kind and application?
- What targeted method and constraints are keeping the Market?
- What are the distinct sales, marketing, and distribution channels in the world industry?
- What are the upstream uncooked substances and manufacturing gear of Market alongside with the manufacturing technique of Market?
- What are the key market tendencies impacting the increase of the Market?
- Economic have an impact on the Market enterprise and improvement vogue of the Market industry.
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