(PDF) Trends on Safety Needles Analysis Market Outlook 2021 - 2026 | Industry Analysis by Size, Share, CAGR 7.0% Growth Factors

Global Safety Needles market
Overview

For various drug deliveries and sample processing, safety needles are used. Fine aspirating needles (FANs) are small needles that are used to remove cells from organs and lumps of tissue. These needles are also used for biopsy procedures that require access to hard-to-reach tissues and organs. Biopsy needles are used to collect soft tissue samples as well as kidney, liver, scalp, and bone marrow samples from the body.

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Statistics

By 2027, the global safety needles market is expected to reach a valuation of US$ 7,765.7 million.

Drivers

Rising incidences of non-communicable chronic diseases among the geriatric population are expected to propel the growth of the global safety needles market during the forecast period. According to the report, ‘Cancer data for adults aged 85 years and older, 2019', published in ACS CA: A Cancer Journal for Clinicians in August 2019, the estimated number of cancer cases and deaths for adults aged 85 years and older in the United States in 2019 was 140,690 and 103,250, respectively.

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Opportunities

Concerns over the handling of infected needles and other medical waste are growing as a result of the potential for needle-stick burns and other injuries, such as infections, as people come into contact with such products. In the U.S., the Needle-stick Safety and Prevention Act and the adoption of the OSHA Bloodborne Pathogens Standard have raised awareness of accidents caused by infected needles. This has led businesses to concentrate on designing biodegradable needles that have all of the requisite functionality to reduce the risk of accidents and illnesses caused by infected medical waste and needles.

Restraints

The worldwide demand for safety needles is projected to be hampered by the risks involved with injections. Multiple transient or permanent side effects may occur as a result of the injection process. Since thin needles must push through ligaments and bone in the spine to extract fluid from the spinal cord, epidural and spinal needle injections can cause a variety of side effects. Itchy skin, nausea, backache, nerve injury, lack of bladder control, and abscess development are all risks involved with these treatments.

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Key Takeaways

The global safety needles market's Hypodermic Needle segment was worth US$ 760.3 million in 2019 and is projected to grow at an annual rate of 8.0 percent to US$ 1,406.8 million by 2027. During the forecast period, an increase in the number of dermatologic procedures in both developed and developing economies is expected to aid the segment's development.

In terms of value, the Drug Delivery sector dominated the global safety needles market in 2019, accounting for 54.0 percent of the market. Over the forecast period, the segment's rise is due to an increase in the prevalence of chronic non-communicable diseases.

Market Trends

To stop needle damage, there is a strong market for needle incineration devices. RedHawk Holdings Corp. released The SANDD mini -First Responders, a needle incineration kit for first responders, in January 2020.

Several authorities are implementing needle exchange programs, which enable injecting drug users to access hypodermic needles and related paraphernalia for free or at a reduced cost. Hillsborough County (Florida, United States) passed the Syringe Service Program in February 2020, allowing for the replacement of expired needles and hypodermic syringes for unused ones.

Competitive Landscape

Key companies contributing in the global safety needles market are Smith Medical, Boston Scientific Corporation, Novo Nordisk A/S, Medtronic PLC, Braun Melsungen AG, NIPRO Medical Corporation, Dickinson and Company, Eli Lilly and Company, Becton, Terumo Corporation, Argon Medical Devices, Inc., and Abbott Laboratories.

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Key Developments

Eli Lilly and Company announced a donation of approximately 200,000 KwikPens to three relief organizations – Americares, Direct Relief, and Dispensary of Hope – to help lower-income diabetics who are eligible for free clinic services in January 2020.

For Somatuline Autogel 60, 90, and 120 mg, Ipsen Biopharmaceuticals Canada Inc. unveiled a new pre-filled syringe with needle shield removal device in January 2020.

Table of Content

Global Safety Needles Market Research Report
Section 1: Global Safety Needles Industry Overview
Section 2: Global Economic Impact on Safety Needles Industry
Section 3: Global Market Competition by Industry Producers
Section 4: Global Productions, Revenue (Value), according to Regions
Section 5: Global Supplies (Production), Consumption, Export, Import, geographically
Section 6: Global Productions, Revenue (Value), Price Trend, Product Type
Section 7: Global Market Analysis, on the basis of Application
Section 8: Safety Needles Market Pricing Analysis
Section 9: Market Chain, Sourcing Strategy and Downstream Buyers
Section 10: Strategies and key policies by Distributors/Suppliers/Traders
Section 11: Key Marketing Strategy Analysis, by Market Vendors
Section 12: Market Effect Factors Analysis
Section 13: Global Safety Needles Market Forecast

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