Safety Needles Market by Product (Active Safety Needles and Passive Safety Needles) and End User (Hospitals, Diabetic Patients, Family Practices, Psychiatrics, and Others): Global Opportunity Analysis and Industry Forecast, 2018 - 2025
New York, Nov. 14, 2019 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Safety Needles Market by Product and End User: Global Opportunity Analysis and Industry Forecast, 2018 - 2025" - https://www.reportlinker.com/p05663920/?utm_source=GNW
Safety Needles Market Overview:
Safety needles are hollow, cylindrical needles with a puncture point at the pointed tip, utilized to inject solutions through subcutaneous, intravenous, and intramuscular modes for rapid uptake of substances such as insulin, vaccines, and others. These are used to extract body fluids for diagnosis. The global safety needles market accounted for $1,607 million in 2017, and is anticipated to reach $3,922 million by 2025, registering a CAGR of 12.1% from 2018 to 2025.
The growth in incidence of needle stick injuries, implementation of stringent compliance for using safety needles, and surge in demand for injectable drugs & vaccines drive the growth of the global safety needles market. In addition, rise in incidence of chronic diseases, particularly diabetes augments the growth of the market. However, high cost of safety needles, availability of alternative modes of drug delivery, and unawareness regarding safety syringes hamper the market growth. Nevertheless, untapped emerging economies, such as India and Japan, present lucrative opportunities for the growth of the global safety needles market.
The global safety needles market is segmented based on product, end user, and region both in terms of value and volume. Based on product, the market is bifurcated into active safety needles and passive safety needles. Active safety needle segment holds the major share in the global safety needle market as they are increasingly adopted as a safety engineered device for the administration of vaccines and medications. Based on end user, the global safety needles market is segmented into hospitals, diabetic patients, family practices, psychiatrics, and others. The hospital segment dominates the global safety needles market and is growing significantly with WHO guidelines for safe practice of needle usage and global campaign to encourage injection safety.
Based on region, this market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the largest market share in 2017 and is expected to retain its dominance throughout the forecast period. This is primarily attributed to the higher buying power and stringent regulations that favor the utilization of safety needles in this region. Further, there is an increased awareness regarding the risk of cross infection (such as hepatitis, HIV, and AIDS) and needle stick injuries in this region. However, Asia-Pacific is expected to emerge as a lucrative area with maximum growth potential, owing to the improvement in healthcare facilities, available disposable income, and rapidly developing economic conditions.
Product development is the key strategy adopted by market players. The report provides a comprehensive analysis of the key players that operate in the global safety needles market.
Key Players Profiled
Becton, Dickinson and Company (BD)
Retractable Technologies, Inc.
Terumo Medical Corporation
Smiths Group Plc.
B. Braun Melsungen AG
MedPro Safety Products, Inc.
Johnson & Johnson (Ethicon Inc.)
Key Benefits for Safety Needles Market:
The study provides an in-depth analysis of the global safety needles market along with the current trends and future estimations to elucidate the imminent investment pockets.
The report presents quantitative analysis of the market for the period of 2018?2025 to enable stakeholders to capitalize on the prevailing market opportunities.
Extensive analysis of the market based on product type assists in understanding the trends in the industry.
Key market players along with their strategies are thoroughly analyzed to understand the competitive outlook of the industry.
Safety Needles Key Market Segments:
Active Safety Needles
Passive Safety Needles
By End User
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
Other players in the value chain include (profiles not included in the report)
Hindustan Syringes & Medical Devices Limited
International Medsurg Connection
Medline Industries, Inc
Vita Needle Company
Read the full report: https://www.reportlinker.com/p05663920/?utm_source=GNW
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