Safety
needles are primarily employed for different drug deliveries and sample
collections. Fine aspirating needles (FANs) are fine needles that are used for
aspiration of cells in organs and lumps in tissue. These needles are majorly
used for biopsy procedures to access difficult-to-reach tissues and organs.
Biopsy needles are used to extract soft tissue samples from the body, coupled
with kidney, liver, skin, and bone marrow samples.
Statistics:
The
global Safety Needles Market is
estimated to be valued at US$ 7,765.7 Mn in terms of value by the end of 2027.
Global Safety Needles Market: Drivers
The
market is expected to witness significant growth over the forecast period
attributed to increasing prevalence of chronic non-communicable diseases among
geriatric population. For instance, according to the study, ‘Cancer statistics
for adults aged 85 years and older, 2019’, published in ACS CA: A Cancer
Journal for Clinicians, in August 2019, in 2019, the estimated number of cancer
cases and deaths was 140,690 and 103,250 respectively, among adults aged 85
years and older in the U.S.
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Global Safety Needles Market: Opportunities
There
is rising concern about disposal of contaminated needles and other medical
waste attributed to potential hazards from needlestick and other injuries such
as infections during encounters with such materials are expected to offer
growth oppurtunities for market players in the global safety needles market. For
instance, the Needlestick Safety and Prevention Act and implementation of OSHA
Bloodborne Pathogens Standard in the U.S have raised awareness about injuries
caused by contaminated needles. This has also prompted companies to focus on
developing biodegradable needles with all the necessary features that alleviate
concerns related to injuries and possible infections from contaminated medical
waste and needles.
Global Safety Needles Market: Restraints
However,
various risks associated with injections are the major factors that are expected
to hamper growth of the global safety needles market over the forecast period. For
instance, injection procedure, in some cases leads to multiple temporary or
permanent side effects. Epidural and spinal needles injections sometimes result
in multiple side effects as thin needles need to pass through ligaments, bone
in spine, to extract fluid from the spinal cord. Moreover, side effects associated
with these procedures include itchy skin, backache, nausea, loss of bladder
control, abscess formation, and nerve damage.
Key Takeaways:
Among
product type, hypodermic needle segment in the global safety needles market is
estimated to be valued at US$ 760.3 Mn in 2019 and is expected to reach US$
1,406.8 Mn by 2027, exhibiting a CAGR of 8.0% over the forecast period. The
segment growth is attributed to increasing number of dermatologic procedures in
developed and emerging economies.
Among
application, drug delivery segment is expected to hold a dominant position in
the global safety needles market in 2019, accounting for 54.0% market share in terms of
value. The growth of the segment is attributed to increasing prevalence of
chronic non-communicable diseases.
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Market Trends
There
is rising demand for needle incineration device to avoid needle injury, which
is expected to drive the market growth over the forecast period. For instance,
in January 2020, RedHawk Holdings Corp. launched SANDD mini -First Responders,
a needle incineration device for first responders.
Moreover,
governments of various economies are adopting needle exchange program that
allows injecting drug users to obtain hypodermic needles and associated
paraphernalia at little or no cost. For instance, in February 2020,
Hillsborough County (FL, U.S.) passed the Syringe Service Program, which allows
for the exchange of used needles and hypodermic syringes for unused ones.
Global Safety Needles Market: Competitive Landscape
Key
players operating in the global safety needles market include Medtronic PLC,
Becton, Dickinson and Company, Boston Scientific Corporation, Smith Medical,
Abbott Laboratories, Argon Medical Devices, Inc., Novo Nordisk A/S, Terumo
Corporation, Eli Lilly and Company, NIPRO Medical Corporation, and B. Braun
Melsungen AG.
Global Safety Needles Market: Key Developments
·
January 2020: Eli Lilly and Company
announced to donate around 200,000 KwikPens to three relief organizations –
Americares, Direct Relief, and Dispensary of Hope to support lower-income
people living with diabetes who qualify for free clinic services
·
January 2020: Ipsen
Biopharmaceuticals Canada Inc. launched a new pre-filled syringe with needle
shield removal system for Somatuline Autogel 60, 90, and 120 mg
Segmentation
·
Safety Needles Market, By
Product Type:
§ Fine Aspirating Needle
§ Biopsy Needle
§ Hypodermic Needle
§ Pen Needle
§ Suture Needle
§ IV Catheter Needle
§ Huber Needle
§ Blood Collection Needle
§ Spinal Anesthesia and Epidural Needle
§ Prefilled Syringe Needle
§ A.V. Fistula Needle
§ Cannula Needle
·
Safety Needles Market, By Application
o
Sample Collection
o
Drug Delivery
·
Safety Needles Market, By
Distribution Channel:
o
Hospital Pharmacies
o
Private Clinics
o
Retail Pharmacies and Drug Store
o
E-Commerce
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