The global forecast for the safety needles market anticipates significant growth, with a market value of US$ 5,840.7 million in 2023. The projected CAGR of 7.4% from 2023 to 2033 indicates that the global safety needles market will reach a significant US$ 11,972.7 million by 2033.
Safety needles market sales are equipped with several features to prevent needle stick injuries while dispensing medications and collecting bodily fluids. There are various needles, such as fine aspiration needles, aspiration & biopsy needles, hypodermic needles, suture needles, IV catheter needles, prefilled needles, and many other varieties of safety needles available on the market.
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The safety needles market has grown substantially in recent years, driven by a growing emphasis on healthcare worker safety and the increasing awareness of needle stick injuries. Safety needles are designed with mechanisms to prevent accidental needle stick injuries and are widely used in healthcare settings globally. Factors such as stringent regulations promoting the use of safety devices, rising concerns about blood-borne infections, and the ongoing expansion of the healthcare sector have contributed to the market’s expansion
“Safety needles are a crucial innovation in healthcare, reducing the risk of needlestick injuries and infections. It growing significance for patient and healthcare worker safety, making them essential to modern healthcare practices.”
Key Takeaways:
- Increasing concerns about needle stick injuries among patients and healthcare professionals is a prominent factor driving growth in the safety needles market. The rising preference for pain-free needles is expected to create abundant growth opportunities for manufacturers in the global market.
- A regular insulin dosage is crucial for diabetic patients for their well-being and keeping regular track of diabetes, therefore, consumers falling in those categories are set to create high demand for painless or pain-free needles to avoid discomfort or unease of painful needles.
- The injection safety guidelines introduced by the World Health Organization (WHO), reveal that for medical workers to use safety-engineered syringes with sharp injury protection/prevention (SIP) must be handled with utmost attention and care.
- Rising funding and investments in the surgical instruments department by several hospitals and favorable government initiates have encouraged the use of safe injection practices in order to prevent needle stick injuries & needle re-use, which can further influence the market.
- Technological advancements in the safety needles market have gradually bettered medical practices and safety practices by incorporating features like a one-touch needle retraction mechanism, auto-disable feature, reuse prevention, sharp injury protection (SIP), and safety mechanisms in only one product/device.
- Various government agencies have implemented strict regulations in numerous countries concerning the usage of safe needles to avoid hospital-acquired infections like HIV, hepatitis C, and B, which will fuel growth in the global safety needles market throughout the projection years.
- Some crucial factors propelling growth in the market are the prevalence of chronic diseases globally, rising cases of spinal disorders, and the high adoption rate of prefilled syringes. The government is launching new campaigns worldwide to spread awareness about vaccinations among the population. These factors above are contributing to the expansion of the safety needles market in the future.
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Competitive Landscape:
Major players in the safety needles market are collaborating with government bodies to raise awareness amongst patients concerning the unsafe use of reusable needles. Mergers and acquisitions in the safety needles market are expected to enhance the product portfolios of various key players during the forecast period.
Key Companies :
- Medtronic Public Limited Company
- Boston Scientific Corp
- Becton Dickinson and Company
- Smith Medical, Argon Medical Devices, Inc.
- Novo Nordisk A/S
- Terumo Corporation
- NIPRO Medical Corporation
- B. Braun Melsungen AG.
- Abbott Laboratories
- Eli Lilly and Company
- Retractable Technologies
Key Segmentation:
By Product:
- Fine Aspiring Needles
- Biopsy Needles
- Hypodermic Needles
- Pen Needles
- Suture Needles
- IV Catheter Needles
- Blood Collection Needles
- Spinal Anesthesia and Epidural Needles
- Prefilled Needles
- A.V. Fistula
- Cannula Needles
- Huber Needles
By Application:
- Sample Collection
- Drug Delivery
By Distribution Channel:
- Hospitals Pharmacies
- Private Clinics
- Retail Pharmacies & Drug Stores
- E-commerce
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa (MEA)
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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