The global safety needles market was valued at US$358.064 million in 2019 and is forecasted to reach US$854.988 million by 2026, growing at a CAGR of 13.24%. Safety needles are advanced needs having the feature of an inbuilt safety mechanism that has the capability to avoid needle-linked injuries to the patients. The prime reason which is expected to drive the market growth during the forecasted period is the growing advent of diseases and rising vaccination in an attempt to avoid chronic diseases. With rising complexities in lifestyle and the growing prevalence of chronic diseases, expenditure on diagnosis, treatments, and vaccinations has surged significantly, which has increased the market for safety needles. Furthermore, demand for single-use safety needles for better prevention against potential infection of unwanted pathogens entering the body has provided a new opportunity for growth for the industry. Moreover, an increase in the geriatric population and demand for safe needles for better body suitability also drive the market growth. Robust investment by the government in the healthcare sector is also projected to provide stable growth.
Geographically, the global safety needles are divided into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific regions for the study. The Asia Pacific and North American regions are expected to hold a significant share of the market. The Asia Pacific region has been emerging as a medical hub. In comparison to their countries, Americans and the European population find medical treatment in this region more cost-effective and cheap. An average American can save up to 90% of the expenditure of healthcare if the patient gets treatment from the Asia Pacific region. Furthermore, rising healthcare infrastructure and facilities in the region will further expand the medical tourism market and provide substantial growth to safety needles.
The European region has observed a high rise in the proportion of the geriatric population and a significant increase in chronic, especially cardiovascular disease which is projected to create the demand for safety syringes for diagnosis, treatment, and medicines intake.
One of the prime reasons driving the market growth of safety needles is rising healthcare expenditure and instances of diseases. With growing complexities in Lifestyle, a surge in cases of cardiovascular diseases has increased diagnosis, treatment, and medicine intake has increased significantly. Which has raised safety needles adaption. Data from World Health Organization (WHO) shows in 2019, 17.9 patients lost their lives owing to cardiovascular, which accounted for 32% of deaths in the year. 6.460 million deaths among patients under 65 years of age were caused by CVDs. Rising instances of chronic diseases have significantly increased health expenditure for better healthcare. Data from World Bank shows that per capita health expenditure has increased globally from US$999.104 in 2015 to US$1,111.082 in 2018. Increasing health expenditure along with treatment is expected to surge the market for safety needles. Furthermore, international organizations have also taken initiative to reduce the burden of chronic diseases through awareness programs, medication, and treatments. WHO aims to reduce the global prevalence of blood pressure issues by 25% from 2010 to 2025. WHO had declared that 50% of the beneficiaries under this program will receive continuous drug therapy and other treatments to prevent CVDs linked death by 2025. Promising prevention and treatment prospects are expected to increase the market opportunities.
A major problem faced by the safety needle industry is the disposal of needles. Safety syringes are dominantly single-use syringes and their improper disposal creates syringes and needles pollution. with the rising usage of needles and syringes, a surge in syringe pollution has been observed around the world. In March 2021, the city of San Francisco collected more than 13,000 syringes and needles waste, an increase by 10 times than a decade ago. Furthermore, improper disposal of needles raises the chances of the spread of diseases such as HIV and hepatitis. The surging needles market is expected to further increase pollution which degrades the environment and hence has raised concerns.
The coronavirus pandemic boosted the demand for safe needles globally. With the outbreak of the virus, the medical industry indulged in the formulation of vaccines and treatment to prevent the spread of the virus. The discovery of covid vaccines in late 2020 and the surging demand for vaccination boosted the market demand for safety needles. Data from Our World in Data shows that globally, till September 2021, 44.1% of the global population has received at least one dose of the covid vaccine. Rising vaccination has increased the demand for syringes and needles that will boost the market for safe needles in the next couple of years.
|Market size value in 2019||US$358.064 million|
|Market size value in 2026||US$854.988 million|
|Growth Rate||CAGR of 13.24% from 2019 to 2026|
|Forecast Unit (Value)||USD Million|
|Segments covered||Type, Route Of Administration, End Users, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||BD, Cardinal Health, B. Braun Melsungen Ag, Medline Industries, Inc., Johnson & Johnson Services, Inc., Nipro Medical Corporation, Smiths Group Plc, Métier Medical Limited, Olympus Corporation|
|Customization scope||Free report customization with purchase|
Key Market Segments
Frequently Asked Questions (FAQs)
Q1. What will be the safety needles market size by 2026?
A1. The global safety needles market is expected to reach a total market size of US$2,262.123 million in 2026.
Q2. What are the growth prospects for the safety needles market?
A2. The safety needles market is expected to grow at a CAGR of 13.24% over the forecast period.
Q3. What is the size of the global safety needles market?
A3. Safety Needles Market was valued at US$358.064 million in 2019.
Q4. Which region holds the largest market share in the safety needles market?
A4. The Asia Pacific and North American regions are expected to hold a significant share of the safety needles market.
Q5. What factors are anticipated to drive the safety needles market growth?
A5. The prime reason which is expected to drive the safety needles market growth during the forecasted period is the growing advent of diseases and rising vaccination in an attempt to avoid chronic diseases.
B. Braun Melsungen Ag
Medline Industries, Inc.
Johnson & Johnson Services, Inc.
Nipro Medical Corporation
Smiths Group Plc
Métier Medical Limited
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