The Next Big Thing in Medical Devices Industry: Global Safety Needles Market Growth Analysis By Top Key Players

The global safety needles market is expected to reach $3,922 million by 2025 from $1,607 million in 2017, registering a CAGR of 12.1% from 2018 to 2025. Safety needles are used across medical settings in different applications such as drug delivery, vaccination, and blood specimen collection. These are used to administer drugs and withdraw fluids from the body for clinical examination and research. The demand for safety needles has increased significantly in the recent years to prevent needle-stick injuries.

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Increase in the number of needle-stick injuries throughout the world is expected to boost the market growth. The other key factors that drive the global safety needles market are increase in demand for injectable drugs and vaccines, active government initiatives, and surge in application of injection and infusion therapies. In addition, high prevalence of blood-borne diseases increases the demand for safety needles, which in turn provides lucrative opportunities for the market growth. However, alternative modes of drug delivery and high costs associated with safety needles restrain the market growth.

The global safety needles market is segmented based on product, end user, and region both in terms of value and volume. Based on product, the market is bifurcated into active safety needles and passive safety needles. Active safety needle holds the major share in the global safety needle market as they are increasingly adopted as a safety engineered devices for the administration of vaccines and medications. Based on end user, the global safety needles market is segmented into hospitals, diabetic patients, family practices, psychiatrics, and others. The hospital segment dominates the global safety needles market and is growing significantly with WHO guidelines for safe practice of needle usage and global campaign to encourage injection safety.

Key findings of the Safety Needles Market:

• Pacific is projected to be grow at the highest CAGR of 13.8% from 2018 to 2025.Asia Based on product, the passive safety needle segment is expected to witness the fastest growth during the forecast period.
• Based on end user, the hospital segment generated the highest revenue in 2017 and is expected to continue its dominance ahead as well.
• The global safety needles market and is projected to grow at a CAGR of 12.2%.North America domin.

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Based on region, this market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the largest market share in the global safety needles market in 2017 and is expected to retain its dominance throughout the forecast period.

The major companies profiled in the report include

• Medtronic plc,
• Becton,
• Dickinson and Company (BD),
• Retractable Technologies, Inc.,
• Terumo Medical Corporation,
• Smiths Group Plc.,
• B. Braun Melsungen AG,
• MedPro Safety Products, Inc.,
• Nipro Corporation,
• Johnson & Johnson (Ethicon Inc.) and
• Novo Nordisk.

The other market players that are not profiled in the report includes Albert David, DeRoyal, Hindustan Syringes & Medical Devices Limited, Hi-Tech Syringes, International Medsurg Connection, Medline Industries, Inc., Unilife Corporation, Vita Needle Company, and Vygon.

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