Safety Needles Market Forecasts to 2030 – Global Analysis By Product (Cannula Needles, Hypodermic Needles, A.V. fistula Needles, Fine Aspirating Needles, Blood Collection Needles, Biopsy Needles, Spinal Anesthesia & Epidural Needles, Pen Needles, Huber ne

Safety Needles Market Forecasts to 2030 – Global Analysis By Product (Cannula Needles, Hypodermic Needles, A.V. fistula Needles, Fine Aspirating Needles, Blood Collection Needles, Biopsy Needles, Spinal Anesthesia & Epidural Needles, Pen Needles, Huber needles, IV Catheter Needles and Other Products), Application (Drug Delivery, Injection, Sample Collection and Other Applications), End User and By Geography

According to Stratistics MRC, the Global Safety Needles Market is accounted for $1.97 billion in 2023 and is expected to reach $3.67 billion by 2030 growing at a CAGR of 9.3% during the forecast period. Medical needles with integrated safety features are known as safety needles. These devices are intended to shield patients and healthcare personnel against unwanted injuries caused by needle sticks, by lowering the chance of coming into contact with bloodborne pathogens, which improve patient safety in general. Furthermore, various types and sizes of safety needles are available to offer protection throughout a broad range of medical operations in clinics, hospitals, and other healthcare settings.

According to WHO, temporary boosts to government spending caused by the pandemic's aftermath amounted to a surge in global health expenditure close to US$9 trillion in 2020.

Market Dynamics:

Driver:

Patient empowerment

Patient empowerment, which involves patients who actively participate in their healthcare decisions, including the selection of safer medical devices like safety needles, is a major factor propelling the market for safety needles. They place a high value on comfort and safety, which makes them favor safety needles, which provide accuracy, less discomfort, and a lower chance of needlestick injuries. Furthermore, healthcare providers have been encouraged to embrace safety needle solutions that correspond with patient desires for safer and more effective healthcare experiences by the market's demand from informed and empowered patients.

Restraint:

High initial expenses

The initial cost of these goods might hinder healthcare providers from making an investment. Additionally, compared to regular needles, safety needles are typically more expensive due to their improved safety features, and the uptake may be hampered by the short-term financial restrictions, despite the fact that they reduce needlestick injuries and increase overall healthcare safety; however, compared to regular needles, the cost of fabrication and manufacturing goes up when these safety elements are added. Therefore, this could result in delayed market penetration and restricted access to safer needle options.

Opportunity:

Technological advancements in needle safety

Tracking and compliance have increased due to innovative features such as integration with smart devices and electronic health records. Lowering the risk of injuries caused by needles, needle safety technology has increased patient and healthcare staff confidence. This has led to safer medical practices by providing practical solutions to reduce workplace hazards. In addition, increased knowledge of the risks associated with blood borne pathogens had improved safety features and accelerated by regulatory requirements which thereby boosting this market’s growth.

Threat:

Lack of awareness

Healthcare institutions and providers are frequently unaware of the availability and advantages of safety needles, which is a drawback in the safety needle market. As healthcare workers might continue to use normal needles without thinking about the risks involved, this could lead to a decrease in the use of safety needles. Additionally, another factor contributing is inadequate instruction and training regarding the benefits and application of safety needles, which significantly hampers market expansion.

Covid-19 Impact

The safety needle market has been affected as a result of the COVID-19 outbreak. There was a decrease in the necessity for safety needles as elective surgeries and non-emergency treatments were cancelled or postponed. Production and distribution of these devices were further hampered by disruptions in the worldwide supply chain and manufacturing procedures. Furthermore, Safety needles and other medical supplies received less attention and funding as healthcare institutions concentrated on controlling the infection and its after-effects which consequently impeding this market growth.

The IV catheter needles segment is expected to be the largest during the forecast period

The IV catheter needles segment is estimated to hold the largest share, due to the growing requirement for intravenous therapy and the emphasis on reducing needlestick injuries. Advancements such as needle locking mechanisms, user-friendly activation techniques, and improved designs for comfort are frequently applied to reduce the possibility of unintentional punctures during the insertion and removal of IV catheters. In addition, they frequently have retractable or shielding devices to protect patients and healthcare personnel, which is boosting this segment expansion.

The drug delivery segment is expected to have the highest CAGR during the forecast period

The drug delivery segment is anticipated to have highest CAGR during the forecast period. Injecting drugs is now safer and more convenient due to innovations in this market area, such as syringes with built-in safety features and needle-based drug delivery systems. These developments are especially important for diseases like diabetes and autoimmune disorders that call for the self-administration of medication. Furthermore, due to changing patient comfort and safety standards as well as changing healthcare needs, healthcare professionals and patients prioritize safer and more efficient means of medicine administration thereby driving this segment growth.

Region with largest share:

Europe commanded the largest market share during the extrapolated period, owing to regulations and incentives that have been implemented to improve worker safety, lower the number of needles tick injuries, and stop the spread of blood borne illnesses. This region is home to major key players such as Johnson & Johnson, Covidien, Becton, Dickinson & Company, and Smiths Medical, which are focusing on product innovation and technological advancements to meet evolving safety standards. In addition, the adoption of safety needle items offers funding, education, and training programs, which thereby boost this region’s growth.

Region with highest CAGR:

Asia Pacific is expected to witness highest CAGR over the projection period, owing to the expanding healthcare infrastructure, a surge in medical tourism, and an increasing focus on occupational safety in the healthcare sector. Countries including India, Japan, and China are strategically investing in research and development to introduce innovative safety needle technologies. Furthermore, the market is characterized by a growing prevalence of infectious diseases, spurring healthcare facilities to prioritize the use of safety devices with cost-effective safety needle solutions, which are therefore driving this region’s expansion.

Key players in the market

Some of the key players in the Safety Needles Market include Boston Scientific Corporation, Medtronic, Plc., Smith Medical, Inc., Argon Medical devices, Inc., Terumo Corporation, Becton, Dickinson and Company, Abbott Laboratories, Novo Nordisk A/S, Nipro Medical Corporation, Eli Lily and Company and B. Braun Melsungen AG.

Key Developments:

In October 2023, Boston Scientific Corporation announced that the U.S. Food and Drug Administration (FDA) has approved an expanded indication of the WaveWriter Alpha™ Spinal Cord Stimulator (SCS) Systems for the treatment of painful diabetic peripheral neuropathy (DPN), a complication of diabetes that can affect the lower extremities of the body.

In September 2023, Abbott and Bigfoot Biomedical announced a definitive agreement for Abbott to acquire Bigfoot, a leader in developing smart insulin management systems for people with diabetes.

In September 2023, Boston Scientific Corporation announced it has entered into a definitive agreement to acquire Relievant Medsystems, Inc., a privately held medical technology company that has developed and commercialized the Intracept® Intraosseous Nerve Ablation System to treat vertebrogenic pain, a form of chronic low back pain.

In April 2023, Abbott announced that it has completed the acquisition of Cardiovascular Systems, Inc., a medical device company with an innovative atherectomy system used in treating peripheral and coronary artery disease.

Products Covered:
• Cannula Needles
• Hypodermic Needles
• A.V. fistula Needles
• Fine Aspirating Needles
• Blood Collection Needles
• Biopsy Needles
• Spinal Anesthesia & Epidural Needles
• Pen Needles
• Huber needles
• IV Catheter Needles
• Other Products

Applications Covered:
• Drug Delivery
• Injection
• Sample Collection
• Other Applications

End Users Covered:
• Hospitals Pharmacies
• Private Clinics
• Retail Pharmacies
• E-commerce
• Ambulatory Surgery Centers
• Home Care
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:

- Market share assessments for the regional and country-level segments

- Strategic recommendations for the new entrants

- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030

- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)

- Strategic recommendations in key business segments based on the market estimations

- Competitive landscaping mapping the key common trends

- Company profiling with detailed strategies, financials, and recent developments

- Supply chain trends mapping the latest technological advancements