Global Sharps Safety Market By Sensor Type (Injection Equipment, Blood Collection Equipment and Others), By Technology (Retractable Safety, Passive Safety), By Application and By Regions - Global Forecast to 2030
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15144
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April 2023
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259
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This report was compiled by Correspondence Linkedin | Detailed Market research Methodology Our methodology involves a mix of primary research, including interviews with leading mental health experts, and secondary research from reputable medical journals and databases. View Detailed Methodology Page
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Global Sharps Safety Market Overview:
The Global Sharps Safety Market was valued at UЅD $24,048.6 Мn in 2020, and is projected to achieve a valuation of UЅD $40,988.1 Мn by 2030, at a САGR of 6.6%.
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.
Dynamics:
The steady increase in the number of incidents concerning injury received as a direct result of the improper handling of sharps in medical facilities across the world is a primary factor that is anticipated to fuel the revenue growth of the global sharps safety market over the next 10 years. Furthermore, due to the aforementioned reason there has been a spike in the number of individuals employed in these facilities that have contracted varying diseases such as Hepatitis C, B and even HIV, due to sharps being incorrectly handled, and this is a significant factor of concern for various governing bodies.
Moreover, the stricter enforcement of guidelines and regulations that require facilities to utilize safety sharp devices to avoid unnecessary injury to both patients and staff, is resulting in a higher demand for these devices, thereby boosting opportunities for additional market growth over the forecast period in the process.
However, the loss of tactile sensation caused due the use of certain types of safety sharps may be a factor that could restrain the revenue growth of this global industry. Additionally, in light of the recent COVID-19 outbreak, the operations of numerous industries have either been temporarily halted or are functioning with a minimal workforce due to enforced lockdowns and imposed restrictions by respective governing bodies. The global sharps safety market is no different, and this factor is anticipated to have a significantly negative impact on the revenue growth of this industry.
On the contrary, as a direct result of this pandemic, there has been a steep increase in the number of in-patients seeking necessary treatments, and this is a factor that is expected to soften the blow initially dealt by the outbreak.
Nevertheless, increasing investments being made by governing bodies and key industry players towards the development of advanced and technologically innovative devices, is a factor that is anticipated to further augment opportunities for market growth for the global sharps safety market in the foreseeable future.
Segmentation of the Global Sharps Safety Market is as follows:
In terms of product type, the injection equipment segment accounted for the maximum number of revenue shares of the global sharps safety market in 2020, and this segment is expected to continue doing so over the forecast period. The blood collection equipment segment is also anticipated to index a high CAGR over the next 10 years.
On the basis of technology, the retractable safety segment accounted for the maximum number of revenue shares of the global sharps safety market in 2020, and this segment is slated to continue to do so over the next 10 years. The passive safety segment is also expected to register a high CAGR over the forecast period.
Regional Segmentation and Analysis:
North America accounted for the maximum number of revenue shares of the global sharps safety market in 2020, and is indicative of retaining its respective market position over the next decade. However, the markets in the Asia Pacific region are anticipated to index the highest CAGR over the course of the forecast period.
Segmentation of the Global Sharps Safety Market:
Segmentation by Product Type:
- Injection Equipment
- Blood Collection Equipment
- IV Insertion Equipment
- Safety Lancets
- Safety Scalpels
- Others (Safety Suture Products)
Segmentation by Technology:
- Retractable Safety
- Passive Safety
Segmentation by Regions:
- North America
- Europe
- APAC
- South America
- MEA
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate 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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- Cardinal Health Inc.
- Ansell Ltd.
- Braun Melsungen Aktiengesellschaft
- Becton, Dickinson & Co. (BD)
- Terumo Corp.
- DeRoyal Industries Inc.
- Covidien Ltd. (Medtronic plc)
- HTL Strefa S. A. (MTD Medical Technology and Devices S.A.)
- Smiths Medical Inc. (Smiths Group plc)
- UltiMed Inc.
Frequently Asked Questions (FAQ)
Cardinal Health Inc., Becton, Dickinson & Co., Smith’s Medical, Inc. (Smiths Group plc), and Covidien Ltd. (Medtronic plc) are some of the top players in the global sharps safety market.
The projected difference in revenue from the global sharps safety market between 2025 and 2027 is US$ 4.1178 Bn.
The injection equipment segment among the product type segment, is projected to account for highest revenue share in 2029.
The market in North America is projected to register a CAGR of over 5.8% during the forecast period.
Cardinal Health Inc., Becton, Dickinson & Co., Smith’s Medical, Inc. (Smiths Group plc), and Covidien Ltd. (Medtronic plc) are some of the top players in the global sharps safety market.
The projected difference in revenue from the global sharps safety market between 2025 and 2027 is US$ 4.1178 Bn.
The injection equipment segment among the product type segment, is projected to account for highest revenue share in 2029.
The market in North America is projected to register a CAGR of over 5.8% during the forecast period.
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