December 23rd, 2021 Coherent Market Insights Releases
Safety needles are a great way to reduce the risk of getting a needlestick. They come with a built-in safety mechanism that reduces the risk of needlestick injuries. The needle is either permanently attached or detachable. Both types are highly recommended. They are an excellent choice for anyone who needs to administer a medical procedure. Hospitals often use the needles in a wide range of procedures, including cosmetic surgeries and reconstructive surgery. However, these procedures aren’t performed in sterile environments, and a lack of safety needles can lead to injuries. These risks have prompted a growing market for safety-needles.
The U.S. safety needles market size is estimated to be valued at US$ 2,447.3 million in 2020 and is expected to exhibit a CAGR of 4.8% between 2021 and 2028.
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Increasing adoption of prefilled syringes is expected to propel growth of the U.S. safety needles market during the forecast period. These syringes are extensively used for product differentiation for drugs that need parenteral injections. For instance, in September 2019, Hikma Pharmaceuticals PLC, introduced novel prefilled syringe capability in the U.S. The Heparin Sodium Injection prefilled syringes are indicted for treatment of venous thrombosis and pulmonary embolism.
However, rising awareness and development of needle-free injection technology and product recall due to poor quality and loss of function of products are expected to restrict growth of the U.S. safety needles market during the forecast period.
The U.S. safety needles market witnessed a major drop during the COVID-19 pandemic. The outbreak of COVID-19 in China affected several industries. Stringent regulations such as national lockdown were implemented to control the spread of the virus. The lockdown in some states in U.S. has disrupted transportation and supply chain in the U.S. However, the introduction of new vaccines and decreasing cases are likely to help regain the lost traction in the U.S. safety needles market.
U.S. Safety Needles Market Segmentation:
U.S. Safety Needles Market, By Product Type :
U.S. Safety Needles Market, By Application:
U.S. Safety Needles Market, By End User:
U.S. Safety Needles Market, By Distribution Channel
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The S. safety needles market is expected to expand, exhibiting a CAGR of 4.8% over the forecast period due to increasing cases of gynecologic cancer and spinal injury. For instance, according to the American Cancer Society estimates, around 21,410 women in the U.S. will be diagnosed with ovarian cancer, and it will cause nearly 13,770 deaths in women of the country.
Growing funding for development of safety needles in U.S. are expected to propel market growth. For instance, in August 2020, Department of Defense (DOD), Joint Acquisition Task Force awarded US$ 104 million to the Department of Health and Human Services’ (HHS) Strategic National Stockpile (SNS), to acquire syringes and safety needles for Covid-19 vaccines approved by the U.S. Food and Drug Administration (FDA), when they become available.
Key players active in the U.S. safety needles market include Becton, Dickinson and Company, Smith Medical, Medtronic Plc., Abbott Laboratories, Boston Scientific Corporation, Terumo Corporation, Argon Medical Devices Inc., Eli Lilly and Company, Novo Nordisk A/S, B. Braun Melsungen AG, Axel Bio Corporation, Inc., UltiMed, Inc., Nipro Corporation, SOL-MILLENNUM, Retractable Technologies, Inc., Revolutions Medical Corporation, Gerresheimer AG, Vygon S.A., and Cardinal Health, Inc.
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