Global Safety Needles Market Poised to Reach US$ 9.2 Billion by 2030, Growing at a CAGR of 7.8% Reveals RationalStat Report

The global safety needles market is expected to approach US$ 9,223.4 million by 2030, with an annual growth rate of more than 7.8 %

Global Safety Needles Market is valued at US$ 5,436.5 million in 2023 and is expected to grow at a significant CAGR of over 7.8 % over the forecast period of 2023-2030, according to the published market report by RationalStat

Market Definition, Market Scope, and Report Overview

The rising number of needlestick injuries among healthcare workers is a major driver for the adoption of safety needles. These injuries can lead to the transmission of bloodborne pathogens, emphasizing the need for safer needle devices. In addition, governments and healthcare regulatory bodies worldwide are implementing strict regulations and guidelines to prevent needlestick injuries. This has led to increased adoption of safety needles in healthcare settings to comply with these regulations. Further, the stringent regulations are already in place in developed economies and a majority of the developing economies.

Ongoing advancements in needle safety technology, such as retractable and shielded needles, are driving market growth. Manufacturers are continually innovating to develop safer and more efficient needle devices.

• According to a deep-dive market assessment by RationalStat, the global safety needles market has been analyzed on the basis of market segments, including product type, application, end user and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.

• Market intelligence for the global safety needles market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.

• In addition, the long-term sector and products/services 10-year outlook and its implications on the global safety needles market. It also includes the industry's current state - Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.

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Global Safety Needles Market: Segmental and Market Share Analysis
• On the basis of application, sample collection is anticipated to take a sizeable chunk of the safety needles market.
Report Synopsis
Report Metrics Details
Base Year 2023
Forecast Period 2023-2030
Base Year Market Size US$ 5,436.5 million
Market Size Forecast US$ 9,223.4 million
Growth Rate 7.8%

Key Market Drivers
• Rising awareness and training programs
• Advancements in technology
• Rising healthcare expenditure

Companies Profiled
• Medtronic
• Becton Dickinson company
• Boston Scientific Corporation
• Smith Medical Inc
• Abbott Laboratories
• Argon Medical Devices Inc
• Novo Nordisk A/S
• Terumo Corporation
• Eli Lily and Company
• Nipro Medical Corporation
• B. Braun Melsungen AG

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Competition Analysis and Market Structure

These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global safety needles market include,

• In November 2021, Becton Dickinson introduced UltraSafe Plus 2.25 mL, a passive needle guard, intended to use by pharma companies for drug-device combination products.

Some of the prominent players and suppliers operating and contributing significantly to the global safety needles market growth include Medtronic, Becton Dickinson Company, Boston Scientific Corporation, Smith Medical Inc, Abbott Laboratories, Argon Medical Devices Inc, Novo Nordisk A/S, Terumo Corporation, Eli Lily and Company, Nipro Medical Corporation, and B. Braun Melsungen AG, among others.

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RationalStat has segmented the global safety needles market based on product type, application, end user and region
• Global Safety Needles Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Product Type
o Retractable Needles
o Sheathing Needles
o Hinged Needles
o Others
• Global Safety Needles Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Application
o Drug Delivery
o Sample Collection
o Vaccination
o Others
• Global Safety Needles Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by End User
o Hospitals
o Ambulatory Surgery Centers
o Home Healthcare
o Diagnostic Laboratories
o Others
• Global Safety Needles Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
o North America Safety Needles Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
 US
 Canada
o Latin America Safety Needles Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
 Brazil
 Mexico
 Rest of Latin America
o Western Europe Safety Needles Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
 Germany
 UK
 France
 Spain
 Italy
 Benelux
 Nordic
 Rest of Western Europe
o Eastern Europe Safety Needles Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
 Russia
 Poland
 Hungary
 Other CIS Countries
 Rest of Eastern Europe
o Asia Pacific Safety Needles Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
 China
 Japan
 India
 South Korea
 Australia
 ASEAN
• Indonesia
• Thailand
• Philippines
• Vietnam
• Malaysia
• Rest of ASEAN
 Rest of Asia Pacific
o Middle East & Africa Safety Needles Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
 GCC
• Saudi Arabia (KSA)
• United Arab Emirates (UAE)
• Rest of the GCC
 South Africa
 Nigeria
 Turkey
 Rest of the Middle East & Africa

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Key Questions Answered in the Safety Needles Report:
• What will be the market value of the global safety needles market by 2030?
• What is the market size of the global safety needles market?
• What are the market drivers of the global safety needles market?
• What are the key trends in the global safety needles market?
• Which is the leading region in the global safety needles market?
• What are the major companies operating in the global safety needles market?
• What are the market shares by key segments in the global safety needles market?

Research Methodology

RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts' viewpoint to create a research methodology for market sizing and forecasting.

RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
• Defining the problem by understanding the type of market and data required by the client.
• Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
• Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
• Evaluating and analyzing the data by referring to data sources utilized and leveraged.
• Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.

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RationalStat LLC
Kimberly Shaw,
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sales@rationalstat.com
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RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client's needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.

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