Safety Needles Market Trends, Share, Size and Manufacturers Forecast 2028 |B. Braun Melsungen AG, Becton, Dickinson and Company, Cardinal Health, Johnson & Johnson (Ethicon Inc.), Nipro Corporation

Global Safety Needles Market Size is Expected to Grow at a CAGR of 8.1%

The global safety needles market is estimated to reach USD 4,009 million by 2028 and is expected to grow at a CAGR of 8.1% during the forecast period. Safety needle is a solid and slim instrument pointed at the end. It is used to collect the blood sample, for injecting the drugs into the body. safety needles are mostly used by the healthcare workers for their safety to avoid injuries caused due to needlestick.

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Rising incidents of needle stick injuries across the globe is expected to augment the global safety needles market. Advances in technology and proliferation in the number of players offering safety needles are anticipated to fuel the safety needles market during the forecast period. The high prevalence rates of habitual lifelong diseases that bear frequent doses of injection, especially diabetes, are prominent factors that are estimated to drive the safety needles market during the forecast period.

High cost and the alternative available in the market are hampering the growth of the global safety needles market. High prevalence of trypanophobia (fear of needles) is also anticipated to limit growth of the market.

The prominent players covered in this report:

1. B. Braun Melsungen AG
2. Becton
3. Dickinson and Company
4. Cardinal Health
5. Johnson & Johnson (Ethicon Inc.)
6. Nipro Corporation
7. Novo Nordisk A/S
8. Retractable Technologies, Inc.
9. Smiths Group Plc.
10. Terumo Corporation
11. Vygon SA

Some Significant Market Developments Considered in the Report:

• December 2019- Nephron Pharmaceuticals Corporation partnered with National Medical Products Inc., an inventor of J-Tip Needle Free Injector, to give cases quality care through nearly pain-free anesthetic.

Impact of COVID-19 on the Global Safety Needles Market

The QMI team is closely monitoring the impact of COVID-19 on global safety needles market and it has been observed that the demand for the safety needles was average during the pandemic time. It is anticipated to grow sharply during the forecast period. Many countries worldwide have enforced strict lockdown to control the spread of the virus, which is also hampering the market for every business. COVID-19 has a significant rise in COVID vaccination which will lead in increment in the demand for the needle.

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Global Safety Needles Market, by Product Type
Based on product type, the market is bifurcated into fine aspirating needles, biopsy needle, hypodermic needle, pen needle, suture needle, IV catheter needle, Huber needle, and others. The other segment includes blood collection needle, spinal anesthesia and epidural needle, prefilled hype needle, A.V. fistula needle, and cannula needle.

The suture needle is dominating the market as it is mostly used in surgeries and is of low prices that is why the pharmaceutical companies are producing them in large amount.

Global Safety Needles Market, by Application
Based on application, the market is bifurcated into sample collection and drug delivery. Drug delivery segment holds the largest market share during the forecast period. The segment growth can be on account of increasing number of surgeries that require delivering drugs selectively to a specific site with less frequently dosing.

Global Safety Needles Market, by Distribution Channel

Based on distribution channel, the market is bifurcated into hospital pharmacies, private clinics, retail pharmacies and drug stores, and e-commerce. The e-commerce segment is expected to be fastest-growing during the forecast period. The segment growth can be attributed to COVID-19 outbreak, which forced people to maintain the social distancing rules, due to which they preferred to order things online.

Global Safety Needles Market, by Region

Based on region, the market is bifurcated into North America, Europe, Asia Pacific, Middle East and Africa, and South America. North America holds the largest share in the safety needles market. North American market growth can be attributed to growing prevalence of chronic diseases, and easy availability of the safety needles.

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Some Major Findings of the Global Safety Needles Market Report Include:

• Major global market trend and forecasts analysis along with a country-specific market analysis for up to 25 countries
• An in-depth global safety needles market analysis by the aforementioned segments, along with an analysis of trend-based insights and factors
• Profiles of major market players operating in the global safety needles market, which include B. Braun Melsungen AG, Becton, Dickinson and Company, Cardinal Health, Johnson & Johnson (Ethicon Inc.), Nipro Corporation, Novo Nordisk A/S, Retractable Technologies, Inc., Smiths Group Plc., Terumo Corporation, and Vygon SA
• Competitive benchmarking, product offering details, and growth strategies adopted by the leading market players, along with their major investments in the last five years
• Key impact factor analysis across regions includes analysis, along with the drivers, restraints, opportunities, and challenges that are prevailing in the global safety needles market
• Impact of COVID-19 on the global safety needles market

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This release was published on openPR.