“Global Sharps Safety Market, By Product Type (Injection Equipment, Blood Collection Equipment, IV Insertion Equipment, Safety Lancets, Safety Scalpels, Others [Safety Suture Products]), By Technology (Retractable Safety, Passive Safety), as well as by Region – Global Forecast 2020 to 2030.”, which offers a comprehensive view of the Global Sharps Safety Market through systematic segmentation that encompasses every aspect of this target market. The 5-year (2020–2025) cumulative revenue of this sector is projected to be over $32,022.1 Mn, and is estimated to increase significantly over the latter part of the forecast period.
The term ‘safer sharp’ means medical sharps that incorporate features or mechanisms to prevent or minimize the risk of accidental injury. For example, a range of syringes and needles are now available with a shield or cover that slides or pivots to cover the needle after use. Although sharps are equipped with better safety measures, they have the potential to cause injury through cuts or puncture wounds when handled improperly.
The increasing incidence rate of individuals getting injured due to the improper handling of various medical equipment at various medical facilities across the world is a major factor that is slated to increase the demand for sharps safety, boosting opportunities for market growth in the process. Moreover, a growing number of individuals are now being infected with various diseases such as HIV, and hepatitis B or C due to the same aforementioned reason. As such, various authorities are now more focused on promoting the increased usage of these products, which in turn, is anticipated to have a profound impact on the market growth of the global sharps safety industry in the years to come. Additionally, numerous industry players are also channelling their respective resources towards the development of innovative devices, fuelling the revenue growth of the Global Sharps Safety Market. Furthermore, as a direct result of the COVID-19 outbreak, there has been a drastic increase in the number of patients being admitted for various forms of treatment. This is another major factor that is expected to further augment the overall footprint of the Global Sharps Safety Market over the 10 years.
These are some of the most crucial factors anticipated to play a critical role in catapulting projected revenues for the Global Sharps Safety Market to $40,988.1 Mn by 2030, at a CAGR of 6.6%.
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