Global Safety Needles Market Size, Share, Growth Analysis, By Product(Active Safety Needles, Passive Safety Needles), By End User(D Hospitals & Ambulatory Surgery Centers, Diabetic Patients) - Industry Forecast 2023-2030

Global Safety needles market size was valued at USD 5,123 million in 2021 and is poised to grow from USD 5512.35 million in 2022 to USD 9904.55 million by 2030, growing at a CAGR of 7.6% in the forecast period (2023-2030).

The safety needles market is experiencing robust expansion owing to heightened concerns regarding needlestick injuries and the potential transmission of infections within healthcare environments. These safety needles have been intricately designed to mitigate the risks of inadvertent needlestick injuries for healthcare professionals during medical procedures, thereby safeguarding both medical staff and patients. The increased uptake of safety needles by medical institutions like hospitals, clinics, and other healthcare facilities is primarily propelled by stringent mandates and directives set forth by governments and healthcare governing bodies. These regulations are aimed at ensuring the well-being of healthcare workers. Furthermore, the growing awareness surrounding needle safety and the advantageous features of utilizing safety needles are significant contributors to the market's growth trajectory.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Safety needles market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Segments covered in this report:

The global safety needles market is segmented on the basis of Product, End User, and Region. Based on Product the market is segmented as, Active Safety Needles, Passive Safety Needles. Based on End User the market is segmented as, Hospitals & Ambulatory Surgery Centers, Diabetic Patients, Family Practice, and Psychiatry, Others, Others.

Driver:

The increasing incidence of needlestick injuries among healthcare personnel stands out as a primary impetus behind the uptake of safety needles. These injuries present a substantial hazard of bloodborne infections, amplifying the necessity for the implementation of safer needle instruments to ensure the safeguarding of healthcare practitioners.

Restraint:

The elevated cost associated with safety needles compared to conventional ones can act as a constraint in their broader adoption, particularly in regions with limited resources. Economic factors may impede the expansion of the market in specific areas.

Market Trends:

Beneficial Healthcare Infrastructure: The North American domain is on the brink of experiencing substantial expansion within the safety needles market, a result of its bolstered healthcare infrastructure, effective governmental policies, and a robust presence of multinational enterprises. Modernized safety needle offerings, including self-retracting needles and those endowed with safety-locking mechanisms, are swiftly garnering favor among both healthcare professionals and patients. Notably, in October 2021, West Pharmaceutical Services, a notable manufacturer of injectable pharmaceutical packaging and delivery systems, introduced the NovaGuard SA Pro Safety System. This singularly used accessory is meticulously designed for pre-filled ISO standard 0.5mL staked needle syringes, targeting the Indian domestic market. These advancements exemplify the region's unwavering dedication to enhancing the safety of both patients and healthcare personnel through the medium of innovative, technologically advanced safety needle solutions.