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The global Needlestick Safety Injection Devices market size was valued at USD 2286.35 Million in 2022 and will reach USD 2853.13 Million in 2028, with a CAGR of 3.76% during 2022-2028.
Needlestick Safety Injection Devices are an essential tool for protecting healthcare workers from injuries that could result in exposure to bloodborne pathogens. Needlestick Safety injection devices, such as safety syringes and safety needles are designed to eliminate needlestick injuries while also increasing the safety of drug administration.
The need for mass vaccination campaigns has driven the demand for needlestick safety injection devices. the syringes and safety needles are critical to the each nation's COVID-19 vaccination strategy. For instance, on August 4, the Department of Defense's (DOD) Joint Acquisition Task Force (JATF), in support of the Department of Health and Human Services' (HHS) Strategic National Stockpile (SNS), awarded $104 million in contracts to procure syringes and safety needles, enabling the nationwide administration of a U.S. Food and Drug Administration (FDA)-approved COVID-19 vaccine, once one is available.
In addition, the COVID-19 pandemic has put a spotlight on syringes. That surge in injections increases the likelihood of more needlestick injuries. As mass COVID-19 vaccination programs roll out across the country, Healthcare workers are potentially faced with compromising workers' health for the sake of the broader public health, as it relates to occupational exposure to contaminated needles and syringes. Healthcare workers (HCWs) are at risk of needlestick injuries (NIs) from contaminated needles and sharps. HCWs may perform job tasks such as vaccination and mass vaccination, blood and specimen collection, skin injections, and intravenous administration of therapies, among other situations that can cause needlesticks. This drives the demand for needlestick safety injection devices.
Stiff competition
With major manufacturers and suppliers in the needlestick safety injection devices industry competing globally, the intensity of competition within the needlestick safety injection devices industry has increased. The vendors adopt strategies like price competitions to stay competitive in the market. Meanwhile, the local vendors in developing nations are providing tough competition to the global players based on product pricing. The fierce competition is not conducive to the sustainable development of the industry. At the same time, small companies or small retailers enter the business consequently as venturing into a needlestick safety injection devices business does not require immense capital or investment. However, this leads to the proliferation of sub-standard or duplicate products which then hampers the competitive scenario in the market as established needlestick safety injection devices manufacturers are compelled to lower the price of their products, which ultimately impacts their profit margins and sales volumes. The fierce competition is not conducive to the sustainable development of the industry.
Higher cost and availability of other substitutes
One of the biggest challenges in the market is the higher cost associated with the needlestick safety injection devices. It is one of the reasons for the slow rate of adoption in some healthcare units. Simultaneous development of alternative drug delivery devices such as infusion sets, auto-injectors and blunt fill needles also pose a credible threat to the future growth. Other challenges, which can be easily mitigated, include overcoming patients'/medical practitioners' reluctance to switch from conventional to safety syringes and lack of general awareness about healthcare safety. Despite these challenges, the overall future outlook indeed remains promising; the price sensitive market will continue to seek improvements for the benefit of the end-users and the wider pharmaceutical industry.
Region Overview:
Geographically, US held the largest market share - 59.93% in 2021.
Company Overview:
BD is one of the major players operating in the Needlestick Safety Injection Devices market, holding a share of 26.84% in 2021.
BD
Becton, Dickinson and Company, also known as BD, is an American multinational medical technology company that manufactures and sells medical devices, instrument systems, and reagents. BD also provides consulting and analytics services in certain geographies.
Cardinal Health
Cardinal Health, Inc. provides complementary products and services to healthcare providers and manufacturers. The Company's services include pharmaceutical distribution, health-care product manufacturing, distribution and consulting services, drug delivery systems development, pharmaceutical packaging, automated dispensing systems manufacturing, and retail pharmacy franchising.
Segmentation Overview:
By type, Safety Syringes segment accounted for the largest share of market in 2021.
Safety Syringes
A safety syringe is a syringe with a built-in safety mechanism to reduce the risk of needlestick injuries to healthcare workers and others. The needle on a safety syringe can be detachable or permanently attached. On some models, a sheath is placed over the needle, whereas in others the needle retracts into the barrel. Safety needles serve the same functions as safety syringes, but the protective mechanism is a part of the needle rather than the syringe. Legislation requiring safety syringes or equivalents has been introduced in many nations since needlestick injuries and re-use prevention became the focus of governments and safety bodies.
Safety Needles
There are active and passive Safety Needles to meet clinician preferences. Safety needles are engineered to keep patients and clinicians safe at every step, from use to disposal.
Application Overview:
The market's largest segment by application is the segment Hospitals, with a market share of 58.39% in 2021.
The Needlestick Safety Injection Devices market report covers sufficient and comprehensive data on market introduction, segmentations, status and trends, opportunities and challenges, industry chain, competitive analysis, company profiles, and trade statistics, etc. It provides in-depth and all-scale analysis of each segment of types, applications, players, 5 major regions and sub-division of major countries, and sometimes end user, channel, technology, as well as other information individually tailored before order confirmation.
Meticulous research and analysis were conducted during the preparation process of the report. The qualitative and quantitative data were gained and verified through primary and secondary sources, which include but not limited to Magazines, Press Releases, Paid Databases, Maia Data Center, National Customs, Annual Reports, Public Databases, Expert interviews, etc. Besides, primary sources include extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs, and marketing executives, downstream distributors, as well as end-clients.
In this report, the historical period starts from 2018 to 2022, and the forecast period ranges from 2023 to 2028. The facts and data are demonstrated by tables, graphs, pie charts, and other pictorial representations, which enhances the effective visual representation and decision-making capabilities for business strategy.
Key Companies in the global Needlestick Safety Injection Devices market covered in Chapter 4:
Duopross Meditech
West Pharmaceuticals
Berpu Medical Technology
B. Braun
Vogt Medical
Retractable Technologies
Cardinal Health
BD
Smiths Group
Nipro
Terumo
In Chapter 12 and Chapter 14.1, on the basis of types, the Needlestick Safety Injection Devices market from 2018 to 2028 is primarily split into:
Safety Syringes
Safety Needles
Combo
In Chapter 13 and Chapter 14.2, on the basis of the Downstream Industry, the Needlestick Safety Injection Devices market from 2018 to 2028 covers:
Hospitals
Clinic
Retail
Pharmacy
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate, history and forecast (2018-2028) of the following regions are covered in Chapters 6, 7, 8, 9, 10, 11, 15:
North America (United States, Canada, Mexico)
Europe (Germany, United Kingdom, France, Italy, Spain)
Asia Pacific (China, Japan, South Korea, India, Southeast Asia)
South America (Brazil, Argentina)
Middle East & Africa (Saudi Arabia, UAE, South Africa)
Outline:
Chapter 1 begins with the Needlestick Safety Injection Devices market scope and definition, product segment introduction, global overall market size, as well as market dynamics scenarios such as opportunities, challenges, and industry development trends under inflation. It offers a high-level view of the current state of the Needlestick Safety Injection Devices market and its likely evolution in the short to mid-term and long term.
Chapter 2 provides Needlestick Safety Injection Devices industry chain analysis, covering raw materials analysis, cost structure, price estimate, and forecast, along with price-impacting factors, downstream channels, and major customers. It aims to help readers to grab insights into product upstream, midstream, and downstream fields.
Chapter 3 depicts Needlestick Safety Injection Devices industry competitive analysis regarding market concentration rate, saturation rate, feasibility analysis from new entrants, as well as substitute's status and trends. It indicates the developing space and prospects of the current industry.
Chapter 4 analyzes extensive company profiles, comprising company basic info, product or service profiles, and sales, price, value, gross, and gross margin 2018-2023. It incorporates the Needlestick Safety Injection Devices market ranking, benchmarks, and company business portfolio.
Chapter 5 presents trade statistics of import and export volume from 2018-2023, demonstrating domestic and international market comparisons in specific countries.
Chapters 6-10 highlight Needlestick Safety Injection Devices market status at the regional and country levels, including 5 major regions of North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. The region and country list in the sample is only for reference, and it can be adjusted as required.
Chapter 11 involves geographical market figures of sales, value, market share, and growth rate. Economic, social, environmental, technological, and political factors have been taken into consideration while assessing the growth of each specific region.
Chapters 12-13 evaluate the Needlestick Safety Injection Devices market based on different types and applications. It focuses on sales and value of 2018-2023 from both vertical and horizontal perspectives.
Chapters 14-15 elaborate on the Needlestick Safety Injection Devices market forecast data from 2023-2028, segmented by types and applications, regions, and major countries, helping readers to know future aspects and growth trends.
Chapter 16 ends with an elaboration of data sources and research methodology. 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.
Years considered for this report:
Historical Years: 2018-2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2023-2028