Global Safety Needles Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast: 2023–2033
Global Safety Needles Market: Overview
"The Safety Needles Market size is expected to be worth around USD 2364.3 million by 2023 from USD 5620.7 million in 2033, growing at a CAGR of 10.10% during the forecast period 2023 to 2033."
The safety needles are mainly used to withdraw fluids and administer drugs from the body. There are two types of safety needles easily available in the market such as passive and active safety needles. The safety needle can be prefilled syringes and manually attached to a conventional syringe. The needle of the safety syringe can be permanently attached or detachable.
Global Safety Needles Market: Dynamics
Growing demand for safety needles across the globe, owing to rising adoption of safety needles in various applications such as blood specimen collection, vaccination, and drug delivery is a key factor projected to drive growth of the global market. In addition, a rising number of needle-stick injuries among individuals and increasing demand for injectable vaccines and drugs resulting in rising demand for safety needles in developed and developing countries. These are major factors that fuel growth of the target market during the forecast period.
Increasing blood-borne diseases concern among individuals and growing awareness related to syringes during vaccination resulting in increasing demand for target product across the globe and fuels growth of the global safety needles market. In addition, rising adoption of prefilled syringes and increasing demand for accurate dosage among individuals result in the growing demand for safety needles across the globe are other factors expected to propel growth of the global market.
Furthermore, strict government regulations for mandating the use of safety needles across the globe and rising government initiatives in the healthcare sector are other major factors expected to proliferate global market growth in the upcoming years.
However, high cost associated with safety needles and rising availability of safety needles alternatives including needle-free injection in the market are some of the key factors expected to restraint growth of the global safety needles market.
Global Safety Needles Market: Segment Analysis
Increasing adoption of safety-engineered devices for administration of medications and vaccines results in high demand for active safety needles across the globe. This is the primary factor driving the revenue growth of the active safety needles segment among product type segments.
Among the end-user segments, the hospital segment is projected to witness major growth in the global safety needles market, owing to the rapid adoption of safety-engineered needles in the private or public hospitals across the globe.
Global Safety Needles Market: Region Analysis
The Market in North America is expected to account for major share in terms of revenue and is projected to witness high growth over the forecast period. High awareness about infections by needle/syringe among individuals and strict regulations related to medical devices including syringes and needles in countries such as the US and Canada in this region.
The market in the Asia Pacific projected to witness the highest growth in the global market, owing to advanced healthcare facilities in countries such as India and China in this region. The market in Latin America, Europe, and Middle East & Africa are estimated to register average growth, owing to the increasing popularity of active and passive safety needles associated with beneficial properties in these regions.
Global Safety Needles Market Segmentation:
Segmentation by Product Type:
- Passive Safety Needles
- Active Safety Needles
Segmentation by End-user:
- Diabetic Patients
- Family Practices
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size USD 2364.3 million Growth Rate 10.10% Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
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