Safety Needles Market By Leading Industry Players Such as Medtronic plc, Becton, Dickinson & Company (BD), Retractable Technologies, Inc., Terumo Medical Corporation, Smiths Group Plc., B. Braun Melsungen AG and Others
Growing need for accurate dosage administration and associated benefits of safety needles such as preventing pH changes, and enzymatic activities drive the growth of the global safety needles market. However, increase in preference of needle-free injection and surge in demand for microneedles hamper the market growth. On the contrary, increasing focus of government for mandating the use of safety needles across medical set-ups is expected to create lucrative opportunities for the market players in the coming future.
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Active safety needle segment to manifest highest demand by 2025
The active safety needle segment contributed more than two-thirds share of the market in 2017, owing to its increased adoption as a safety-engineered device for administrating vaccines and medications. However, the passive safety needle segment is projected to manifest the fastest CAGR of 15.3% during the forecast period, owing to the associated benefits such as automated mechanism and ease of use over conventional needles.
Psychiatrics segment to witness fastest CAGR by 2025
The psychiatrics segment is expected to witness the fastest CAGR of 14.7% during the study period, owing to the surge in adoption of safety engineered needles in psychiatry. However, the hospital segment held about one-third market share in 2017, owing to the global campaign to encourage injection safety as well as adoption of WHO guidelines for safe, proactive usage of needle. In addition, end users such as diabetic patients, family practices, and others are analyzed in the report.
North America holds largest market share
North America held the largest market share in 2017, contributing about 42% of the total revenue, owing to the increased demand for safety needles and enforcement of legislation for healthcare facility by the U.S. government to adopt safety needles in healthcare facilities. However, the Asia-Pacific region is expected to grow at 13.8% CAGR during the forecast period, owing to the growing geriatric population and increasing incidence of chronic diseases coupled with growing awareness among physicians to adopt safety needles in healthcare practices. The other regions analyzed in the report include Europe and Latin America, Middle East and Africa (LAMEA).
Major market players
The key market players analyzed in the report include Medtronic PLC, Retractable Technologies, Inc., Smiths Group PLC, Medpro Safety Products, Inc., Johnson & Johnson (Ethicon, Inc.), Becton, Dickinson And Company, Terumo Medical Corporation, B. Braun Melsungen AG, Nipro Corporation, and Novo Nordisk. These market players have opted for various marketing strategies such as partnerships, collaborations, mergers & acquisitions, and product launch to maintain its foothold in the industry.
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.
Table Of Content
Chapter: 1: INTRODUCTION
1.1. Report description
1.2. Key benefits for stakeholders
1.3. Key market segments
1.3.1. List of key players profiled in the report
1.4. Research methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models
Chapter: 2: EXECUTIVE SUMMARY
2.1. Key findings of the study
2.1.1. CXO perspective
Chapter: 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.2.2. Top winning strategies
3.3. Porter's Five Forces Analysis
3.3.1. Bargaining power of suppliers
3.3.2. Bargaining power of buyer
3.3.3. Thereat of new entrants
3.3.4. Threat of substitute
3.3.5. Intensity of competitive rivalry
3.4. Top Player Positioning, 2017
3.5. Market dynamics
188.8.131.52. Rise in number of needlestick injuries
184.108.40.206. Supportive government initiatives
220.127.116.11. Rise in chronic conditions
18.104.22.168. High cost of safety needles
22.214.171.124. Alternative modes of drug delivery
126.96.36.199. Lucrative opportunities in emerging economies
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