The safety needles market accounted for $1,609 million in 2018, and is expected to reach $3,009 million by 2026, registering a CAGR of 8.1% from 2019 to 2026
Allied Market offers report on Safety Needles Market by Product (Active Safety Needles and Passive Safety Needles) and End User (Hospitals & Ambulatory Surgery Centers, Diabetic Patients, Family Practices, Psychiatry, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026
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The global safety needles market witness’s significant growth, owing to factors such as increase in cases of chronic diseases & infections and surge in prevalence of needlestick injuries. Favorable government initiatives related to the use of safety needles boosts the growth of market. However, high price of safety needles and availability of alternative modes of drug delivery hamper the growth of the market. Conversely, high growth potential in emerging economies is expected to create lucrative opportunities for market expansion during the forecast period.
The global safety needles market is segmented based on product, end user, and region, both in terms of both value and volume. Depending on product, the market is bifurcated into active safety needles and passive safety needles. By end user, it is fragmented into hospitals and surgery centers, diabetic patients, family practice, psychiatry, and others. Region wise, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, UK, Italy, Spain, France, Czech Republic, Republic of Moldova, Poland, Hungary, Romania, Russia, Slovakia, Ukraine, Greece, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, Taiwan, and rest of Asia-Pacific) and LAMEA (Brazil, South Africa, Saudi Arabia, UAE, Qatar, Lebanon, Jordan, and rest of LAMEA).
Key Findings of the Safety needles Market:
Active safety needles occupied 70.90% share of the global safety needles market in 2018
The psychiatry segment is anticipated to grow with the highest CAGR throughout the forecast period
The hospitals & ambulatory surgery centers segment accounted for 31.78% share of the market in 2018
Asia-Pacific is anticipated to grow at the highest rate during the analysis period, followed by LAMEA
Key Market Segments
By Product
Active Safety Needles
Passive Safety Needles
By End User
Hospitals & ambulatory surgery centers
Psychiatry
Family Practice
Others
Safety needles market is on a rise, owing to surge in number of needlestick injuries across the globe. Moreover, surge in adoption of safety needles and increase in prevalence of chronic diseases such as diabetes and infectious diseases such as HIV, hepatitis B fuel the market growth
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