Safety Needles Market Estimated to Reach US$ 7,765.7 Mn by 2027-end | Growth, SWOT Analysis, Competitor Landscape, Regional Outlook with B. Braun Melsungen AG, Novo Nordisk A/S, Medtronic & so on…
Safety needles can be defined as a hollow-bore needle which is considered to reduce or diminish the possibility of a skin puncture damage to the worker. Drug administration by safety needles not just abolishes the main pass digestion of the drugs through oral conveyance but additionally spares the drug from pH changes, the enzymatic action inside the patient’s body making degradation to the medications, variable passage time and symptoms because of drug metabolites.
Keeping in mind the end goal to maintain a strategic distance from hospital gained diseases, for example, Hepatitis B, Hepatitis C and HIV etc., governments in different nations are executing stringent directions in avoiding so. Needlestick wounds encouraged from contaminated needles can bring about contaminations from different destructive blood-borne diseases. The different government maintained standards, for example, implementation of OSHA’s bloodborne pathogens models, Needles Exchange Program and Needlestick Safety and Prevention Act, execution are growing awareness among individuals in relation to diseases attributable to utilizing contaminated needles, furthermore, this aspect is probably going to be driving the requirement for better quality safety needles.
The worldwide market for safety needles is replete with constant innovative technology plus new product launches, market players across the world are aggressively engaged in the course of M&A’s so as to reinforce their product range as well as bolster their place in the overall market. The overall market is expected to account for a value of about US$ 4,000 Million in the year 2017 and is likely to reach around US$ 8,000 Million through the end of 2027, recording a 6.9 % CAGR during the assessment period 2017-2027.
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- The overall market on the basis of the product type is divided into fine biopsy needles, aspirating needles, pen needles, suture needles, hypodermic needles, IV catheter needles, epidural needles and spinal anesthesia, A.V. fistula needles, blood collection needles, huber needles, prefilled needles also cannula Needles.
- The worldwide market based on application type is categorized into drug delivery and sample collection.
- The overall market on the basis of the distribution channel is categorized into private clinics, hospital pharmacies, E-commerce and drug stores and retail pharmacies.
- Based on region, the market is studied across Eastern Europe, Western Europe, Latin America, North America, Middle East and Africa, Japan and Asia Pacific Excluding Japan.
- North America is the biggest market among other regions that are likely to surpass US$ 1,200 Million in 2017 or 31.1% of the overall market share. The region is likely to account for a market valuation of more than US$ 2,500 Million through 2027, recording a 7.3% CAGR throughout the projection period. APEJ region is anticipated to be the fastest expanding market, which will be accounting for approximately US$ 540 Million by 2017 to touch a figure of more than US$ 1,100 Million through 2027.
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The key players of global market for safety needles are enhancing their product portfolio by focusing on production of innovative needles with safety features. These players include B. Braun Melsungen AG, Novo Nordisk A/S, Medtronic, and Becton, Dickinson and Company. Becton, Dickinson and Company holds its dominance in the overall market with around 50% share, followed by Medtronic and Novo Nordisk AS. Future Market Insights’ recent report profiles Smith Medical and Argon medical Inc. as emerging safety needle manufacturers, while Terumo Medical Corporation and Boston Scientific Inc. are recognised as mid-level players in the global safety needles market.
Table Of Content
1. Executive Summary
2. Market Introduction
2.1. Market Definition
2.2. Market Taxonomy
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3. Global Safety Needles Market Analysis Scenario
4. Market Dynamics
5. Global Safety Needles Market Analysis and Forecasts, By Product Type
6. Global Safety Needles Market Analysis and Forecasts, By Application
7. Global Safety Needles Market Analysis and Forecasts, By Distribution Channel
And So On…
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