Global Safety Needles Market: Overview
Demand for products capable of arresting the rising numbers and gravity of needlestick injuries has been the key factor to have helped the global safety needles market expand at a healthy pace in the recent years. Rising participation of manufacturers, healthcare organizations, and government and non-government bodies in activities and programs aimed at raising awareness regarding the safety hazards induced by reusable needles for patients as well as healthcare providers are expected to be the key factors driving the market in the near future.
The market is also expected to be driven due to the rising use of prefilled syringes for a number of applications. As the number of pharmaceutical companies adopting prefilled syringes rises at a steady pace, the market for prefilled syringes, and consecutively that of safety needles is expected to rise in the near future. The market is also expected to benefit massively from the rising prevalence of a number of chronic diseases and infections and the resultant rise in demand for disease diagnosis and treatment activities.
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Global Safety Needles Market: Segmentation
On the basis of distribution channels, the report segments the global safety needles market into private clinics, e-commerce sites, hospital pharmacies, and retail pharmacies and drug stores. Of these, the segment of hospital pharmacies is expected to account for the consumption of a lion’s share of the total number of safety needles sold across the globe over the report’s forecast period. The segment of private clinics is expected to expand at a healthy rate.
The key applications of safety needles covered in the report include drug delivery and sample collection. Of these, the segment of drug delivery presently accounts for the dominant share in the global market and is expected to retain its dominant stance over the forecast period, expanding at a healthy pace.
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The report segments the global safety needle market on the basis of product type into fine aspirating needles, biopsy needles, pen needles, hypodermic needles, suture needles, blood collection needles, prefilled needles, IV catheter needles, epidural needles and spinal anesthesia needles, cannula needles, A.V. Fistula needles, blood collection needles, and Huber needles. Of these, the segment of hypodermic needles is presently the leading contributor of revenue to the global market. However, the segment of biopsy needles is expected to expand at the fastest pace over the forecast period.
Global Safety Needles Market: Regional and Competitive Dynamics
From a regional point of view, the report covers the market for safety needles for regions such as North America, Asia Pacific, Europe, Middle East and Africa, and Latin America. Presently, the markets in Europe and North America are among the most developed regional markets and are expected to remain the key contributors of revenue as well as new product varieties owing to the presence of some of the leading medical device companies in the regions. The market in Asia Pacific is expected to expand at a highly promising pace owing to rising awareness, stabilizing economies, rapid development of the healthcare industry, and rising prevalence of a number of chronic conditions.
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The market for safety needles has witnessed the entry of a large number of players in the past few years owing to the vast rise in demand globally. Some of the leading companies in the market are Smiths Medical, Medtronic, Terumo, Retractable Technologies, BD, Hamilton Syringes & Needles, B. Braun, International Medsurg Connection, C.R. Bard, MedPro Safety Products (MPSP), DeRoyal, Novo Nordisk, Ethicon Endo-Surgery, Simply Surgical, Nipro Medical, Hi-Tech Medicare Devices, International, Jiangxi Sanxin Medtec, VIGMED, Vita Needle Company, and Vygon.