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, and Retractable Syringes),
By Application (Sample Collection and Drug Delivery), By End User (Hospitals, Physician Offices, Nursing Home, Dental Laboratories, Diagnostic Centers, Ambulatory Surgical Centers, Homecare Settings, and Others), and By Distribution Channel (Hospital Pharmacies, Private Clinics, Retail Pharmacies and Drug Store, and E-Commerce) is estimated to be valued at US$ 2.82 Billion in 2023, and is expected to exhibit a CAGR of 4.8% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Increasing number of product approvals by regulatory authorities in the country is expected to drive growth of U.S. safety needles market. For instance, in January 2023, MTD Group, a global medical technology company, announced that it had received the approval from U.S. Food and Drug Administration (FDA) for the DropSafe Sicura passive safety needle for the intramuscular and subcutaneous injection of vaccines and other drugs.
U.S. Safety Needles Market – Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdowns in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.
However, the COVID-19 pandemic had a positive impact on the U.S. safety needles market, as there was increase in government initiatives for the production of prefilled syringes that boosted the need for prefilled syringe needle. For instance, in May 2020, Government of U.S. signed an agreement to pay US$ 138 Million to the manufacturers of a innovative prefilled syringe. The goal of this agreement was to increase the production of 100 Million prefilled syringes by the end of 2020 and more than 500 Million in 2021.
U.S. Safety Needles Market: Key Developments
In July 2020, Smiths Medical, a U.S. -based medical device company, partnered with Biomedical Advanced Research and Development Authority, a U.S. Department of Health and Human Services office responsible for the procurement and development of medical countermeasures. The partnership expands capacity at the Smiths Medical facility in Keene, New Hampshire, for production of integrated hypodermic needle and syringe products to support the government’s COVID-19 vaccination efforts.
In July 2020, Sharps Technology, Inc., a U.S. -based medical device company, announced the launch of SHARPS PROVENSA smart safety syringes in the U.S.
Browse 9 Market Data Tables and 33 Figures spread through 120 Pages and in-depth TOC on “U.S. Safety Needles Market”- Forecast to 2030, 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, and Retractable Syringes), By Application (Sample Collection and Drug Delivery), By End User (Hospitals, Physician Offices, Nursing Home, Dental Laboratories, Diagnostic Centers, Ambulatory Surgical Centers, Homecare Settings, and Others), and By Distribution Channel (Hospital Pharmacies, Private Clinics, Retail Pharmacies and Drug Store, and E-Commerce)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/us-safety-needles-market-4403
Key Takeaways of the U.S. Safety Needles Market:
- The U.S. Safety Needles Market is expected to exhibit a CAGR of 4.8% during the forecast period due to increasing product launches such as blood collection sets with blood collection needle. For instance, in June 2020, BD (Becton, Dickinson and Company), a U.S.- based medical technology company, launched UltraTouch Push Button Blood Collection Set.
- Major 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.
