Global Safety Needles Market

Global Safety Needles Market Size, Share, Growth Analysis, By Product(Active Safety Needles, Passive Safety Needles), By End User(D Hospitals & Ambulatory Surgery Centers, Diabetic Patients) - Industry Forecast 2024-2031

Report ID: SQMIG35B2161 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 65 | Figures: 70

Global Safety Needles Market News

  • On January 12, 2023, Milestone Scientific Inc., a company specializing in advanced computerized devices for administering medication with precision and minimal discomfort, revealed that it had engaged in a distribution accord with Sweden & Martina, a prominent European enterprise involved in dental manufacturing and distribution. According to this arrangement, Sweden & Martina has been granted exclusive privileges to promote and distribute Milestone's STA Single Tooth Anesthesia System (STA) within the previously untapped regions of Spain, Portugal, and France. Furthermore, Sweden & Martina is set to take over the role of the company's existing distributor in Italy, becoming the sole distributor of STA products within that market.
  • In March 2022, NuGen Medical Devices Inc., a company specializing in needle-free drug delivery technologies, revealed its engagement in a 5-year distribution contract with Harrington Consultants Limited and their collaborative associate, Al Mufid Pharmaceuticals, recognized as the "Kuwait Joint Venture" or the designated "Distributor."
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FAQs

Safety Needles Market size was valued at USD 5,123 million in 2021 and is poised to grow from USD 5512.35 million in 2022 to USD 9904.55 million by 2030, growing at a CAGR of 7.6% in the forecast period (2023-2030).

The safety needles market is characterized by intense competition among key players. Companies are focused on developing innovative and technologically advanced safety needle products to gain a competitive edge. Additionally, strategic collaborations, partnerships, and acquisitions are common strategies employed by market players to expand their market presence and product portfolios. The competitive landscape is also influenced by stringent regulatory requirements and the need to adhere to safety standards. Key players focus on product differentiation, branding, and marketing initiatives to strengthen their market position. They also invest in research and development activities to introduce novel safety needle technologies that address the specific needs of healthcare professionals and patients. Moreover, expanding distribution networks and increasing product accessibility in emerging markets are essential strategies to capture a larger market share. The safety needles market is witnessing constant advancements and innovations, and the competitive landscape is expected to remain dynamic in the coming years. Companies that can effectively address the challenges of cost-effectiveness, product design, and regulatory compliance while offering reliable safety needle solutions are likely to thrive in this competitive market. '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', 'Vygon SA', 'LIST of OTHER PLAYERS IN THE VALUE CHAIN :', '(These players are not profiled in the report. The same will be included on request)', 'DeRoyal Industries', 'Hindustan Syringes & Medical Devices Limited', 'Hi-Tech Syringes.'

Safety needles are generally more expensive than conventional needles, which can be a restraint for their widespread adoption, particularly in low-resource settings. Cost considerations may hinder the market growth in certain regions.

Better Healthcare Infrastructure: The North American region is poised for substantial growth in the safety needles market due to enhanced healthcare infrastructure, effective governmental policies, and a robust presence of multinational corporations. Advanced safety needle products like self-retracting needles and those equipped with safety locking mechanisms are gaining popularity among healthcare practitioners and patients alike. In October 2021, West Pharmaceutical Services, a prominent manufacturer of injectable pharmaceutical packaging and delivery systems, introduced the NovaGuard SA Pro Safety System. This single-use accessory is designed for prefilled ISO standard 0.5mL staked needle syringes, catering to the Indian domestic market. These developments reflect the region's commitment to improving patient and healthcare worker safety through innovative and technologically advanced safety needle solutions.

North America is projected to maintain a dominant position in the global safety needles market throughout the forecast period in 2022. The region's strong market presence is attributed to the increasing prevalence of chronic diseases and spine disorders, which drives the demand for safety needles. Millions of healthcare workers in North America utilize needles daily, making the risk of needlestick injuries a significant concern. Although the introduction of universal precautions and safety-conscious needle designs has contributed to a decline in such injuries, hepatitis B and hepatitis C remain major concerns after needlestick incidents, rather than HIV. As a result, there is a growing demand for safety needles to prevent such occupational hazards and protect the healthcare workforce in the region.

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