Pune India, Jan. 06, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the needle destroyer market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the needle destroyer market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the product, end-user, and regions. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global needle destroyer market are Cecon Pollutech Systems Pvt. Ltd., COSMO SCIENTIFIC TRADERS, GPC Medical Ltd, Lab-Line Equipment, Invitro Biotech ltd., Amkay, Black Smith Surgical, Surgipro, Inc., Ambler Surgical, Millennium Surgical Corp, Bornemann Maschinenbau GmbH, R. Surgicals, Products Pvt. Ltd., Orient Surgical, Naugra Medical Lab Equipments, Saratech Equipment among others. To achieve a substantial market share in the worldwide needle destroyer market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
A needle destroyer is a small, electrically operated medical equipment designed for the easy destruction of needles and syringes that have been used. A device that is used in a variety of healthcare settings to dispose of used needles and cut down disposable syringe nozzles, thereby ensuring a safe environment for patients, staff members and visitors, and minimizing the risk that these sharp objects will cause blood-borne infections. In order to reduce the risks of spreading infections from biomedical waste, proper management is vital. The rise in occupational health concerns is expected to lead to healthcare workers seeking needle destroyers. As part of biomedical waste, needles fall into the category of sharp plastics, glassware, blades, knives, syringes, knives, etc., for which safe practices are followed when managing and disposing of them. Leading companies will expand their penetration in untapped markets as awareness about the upside of needle destroyers increases in hospitals, clinics, and nursing homes. A large part of the biomedical waste used by Sharps destruction devices is needles, with 17 billion single needles used each year in the world which needs to manage, for which needle destroyers are the best possible way to dispose of the waste. A large share of sharps destruction devices is reusable and will influence the market throughout the forecast period. Moreover, rising concerns about blood-borne viruses are likely to foster needle destroyer market growth.
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Scope of Needle Destroyer Market Report:
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Million |
| Segments Covered | Product, End-User, and Regions. |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Cecon Pollutech Systems Pvt. Ltd., COSMO SCIENTIFIC TRADERS, GPC Medical Ltd, Lab-Line Equipment, Invitro Biotech ltd., Amkay, Black Smith Surgical, Surgipro, Inc., Ambler Surgical, Millennium Surgical Corp, Bornemann Maschinenbau GmbH, R. Surgicals, Products Pvt. Ltd., Orient Surgical, Naugra Medical Lab Equipments, Saratech Equipment among others. |
Segmentation Analysis
Electrical needle burner is expected to be the fastest-growing segment in 2022.
The product segment includes a needle syringe destroyer and an electrical needle burner. The electrical needle burner segment is expected to witness the highest growth rate during the forecast period. The need to prevent the re-use of syringes and accidental needle-stick injuries is on the rise, which means that innovations in electrical needle burners are likely to become pronounced and propel the growth of the market. Aside from this, it may contribute to the management of unsafe sharps waste.
Hospitals are expected to be the fastest-growing segment in 2022.
The end-user segment includes clinics, home care settings, hospitals, diagnostic laboratories and others. The hospital segment is expected to witness the highest growth rate during the forecast period. Sharp needle destruction devices are becoming more and more prevalent in hospitals to ensure a safe working environment for patients, visitors and staff members. As a result, hospitals are likely to look for needle destroyers that are safe, low-cost, and environmentally friendly.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for needle destroyers include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The North American region witnessed a major share. Market growth has been attributed to the reduced number of health risks associated with needles, such as pathogen transmission, blood-borne virus exposure and accidental punctures. Moreover, a rising number of novel developments by major industry players is expected to drive North America's needle destroyer market.
Country Analysis
- Germany
Germany's needle destroyer market size was valued at USD 479.7 million in 2021 and is expected to reach USD 747.42 million by 2029, at a CAGR of 5.7% from 2023 to 2030.
In the forecast period, Germany's needle destroyer market growth will be driven by novel advances by major players in the industry. Biomedical waste infections are increasing, which is promoting needle destroyers' use in the country and eventually leading to a growth in the needle destroyer market.
- China
China’s needle destroyer market size was valued at USD 505.33 million in 2021 and is expected to reach USD 781.42 million by 2029, at a CAGR of 5.6% from 2023 to 2030.
The needle destroyer market is growing because of the huge healthcare infrastructure spending in the country and growing awareness about the proper disposal of biomedical waste to make the surroundings safe for patients, visitors and staff members.
- India
India's needle destroyer market size was valued at USD 388.7 million in 2021 and is expected to reach USD 596.5 million by 2029, at a CAGR of 5.5% from 2023 to 2030.
Rising awareness about the proper disposal of biomedical waste for a safe environment, along with investment in research and development, are propelling the growth of this market in India. Additionally, the growing awareness of needle destroyers in the healthcare sector to keep the surroundings clean and safe accounts for a significant portion of the market's growth.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the increasing demand from the healthcare sector for proper disposal of used needles and syringes to protect staff members, visitors and patients from infection, propelling the growth of the market across the countries.
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