SEATTLE, June 22, 2021 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the United States safety needles market is estimated to be valued at US$ 2,447.3 million in 2020 and is expected to exhibit a CAGR of 4.8% during the forecast period (2020-2027).
Key Trends and Analysis of the U.S. safety needles Market:
Key trends in the market include increasing prevalence of gynecologic cancer and spine disorders, government initiatives for blood collection, and favorable reimbursement for pen needles, which are major factors that are expected to drive growth of the U.S. safety needles market over the forecast period.
Moreover, various strategies adopted by market players include new product launches, acquisitions, and agreements, in order to retain their market position and this is expected to drive the market growth over the forecast period. For instance, in February 2018, B. Braun Medical Inc. introduced its Surecan Safety II Port Access Needles with the safety mechanism, which is designed to reduce the risk of accidental needle stick injuries by shielding the needle tip.
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Key Market Takeaways:
The U.S. safety needles market is expected to exhibit a CAGR of 4.8% during the forecast period due to rising the incidence of chronic diseases such as cancer, cardiovascular diseases, chronic kidney diseases, and others, which is expected to boost the U.S safety needles market growth in 2020. For instance, according to 2018 annual report of the U.S. Renal Data System (USRDS), around 750,000 patients per year in the U.S. are affected by kidney failure, which is also called end stage renal disease (ESRD).
On the basis of product type, Blood collection needle segment is estimated to hold a dominant position in the U.S. safety needle market in 2020. The increase in blood donations and need for blood components due to increasing patient population is expected to drive the segment growth. According to the American National Red Cross, around 7,000 units of platelets and 10,000 units of plasma are required daily in the U.S. and around 21 million blood components are transfused each year in the U.S.
On the basis of end user, hospitals segment is accounted for the largest market share in 2020 due to rising number of patient population suffering from traumatic injuries and other chronic condition visit the hospital emergency departments to undergo surgeries. For instance, according to the Centers for Disease Control and Prevention 2018 report, around 16.2 million emergency related visits were reported in the U.S. hospitals, out of which 3.5 million visits were injury-related in 2018.
Among distribution channel, Hospital Pharmacies segment is estimated to hold a dominant position in the U.S. safety needles market over the forecast period. In the U.S, increasing number of diabetic patients will result in increasing hospital-based treatment, which is expected to drive growth of the hospital pharmacies segment. For instance, according to National Diabetes Statistics Report, 2020, 34.2 million people of all ages in the U.S. are suffering from diabetes, which accounts for around 10.5% of the U.S. population.
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Competitive Landscape:
Key players operating in the U.S. safety needles market include Medtronic Plc., Becton, Dickinson and Company, Boston Scientific Corporation, Smith Medical, Abbott Laboratories, Argon Medical Devices Inc., Novo Nordisk A/S, Terumo Corporation, Eli Lilly and Company, Nipro Corporation, B.Braun Melsungen AG, Revolutions Medical Corporation, Retractable Technologies, Inc, SOL-MILLENNUM, UltiMed, Inc., Axel Bio Corporation, Inc., Cardinal Health, Inc., Vygon S.A., and Gerresheimer AG
Market Segmentation:
- U.S. Safety Needles Market, By Product Type :
- Fine Aspirating Needle
- Biopsy Needle
- Hypodermic Needle
- Pen Needle
- Suture Needle
- IV Catheter Needle
- Huber Needle
- Blood Collection Needle
- Spinal Anesthesia and Epidural Needle
- Prefilled Syringe Needle
- A.V. Fistula Needle
- Cannula Needle
- Retractable Syringes
- U.S. Safety Needles Market, By Application:
- Sample Collection
- Drug Delivery
- U.S. Safety Needles Market, By End User:
- Hospitals
- Physician Offices
- Nursing Home
- Dental Laboratories
- Diagnostic Centers
- Ambulatory Surgical Centers
- Homecare Settings
- Others
- U.S. Safety Needles Market, By Distribution Channel
- Hospital Pharmacies
- Private Clinics
- Retail Pharmacies and Drug Store
- E-commerce
Related Market Intelligence Reports:
Safety Needles Market, By Product Type (Fine Aspirating Needle, Biopsy Needle, Hypodermic Needle, Pen Needle, Suture Needle, IV Catheter Needle, Huber Needle, Blood Collection Needle, Spinal Anesthesia and Epidural Needle, Prefilled Syringe Needle, A.V. Fistula Needle, Cannula Needle), By Application (Sample Collection, Drug Delivery), By Distribution Channel (Hospital Pharmacies, Private Clinics, Retail Pharmacies and Drug Store, E-Commerce), By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027
Read more: https://www.coherentmarketinsights.com/market-insight/safety-needles-market-3555
Special Purpose Needles Market, By Product Type (Fine Aspirating Needles, Biopsy Needles, Hypodermic needles, Pen Needles, Suture Needles, IV catheter Needle, Implantation Needles, Dental Needles, Ophthalmic Needles, Blood Collection Needle, Spinal Anesthesia Needle, Epidural Needle, A.V. Fistula Needle, Cannula Needles), By Application (Sample Collection, Drug Delivery), By Distribution Channel (Hospital Pharmacies, Private Clinics, Retail Pharmacies and Drug Stores, e-Commerce), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027
Read more: https://www.coherentmarketinsights.com/market-insight/special-purpose-needles-market-3425
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