Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
A retractable needle safety syringe is a type of safety syringe that comes along with integrated safety mechanism. It was invented in such a way that protruding needle is withdrawn into the barrel of syringe after the delivery of medication/dose. After medication is expelled, the user has to apply extra pressure to the attached plunger to break the seal and to retract the needle into the syringe. These syringes also decrease the waste volume, as compared to other syringes. Retractable needle syringes are used in several indications such as diabetes, tuberculosis, and cancer.
The U.S. retractable needle safety syringes market is estimated to be valued at US$ 148.8 million in 2020 and is expected to exhibit a CAGR of 4.7% during the forecast period (2020-2027).
Figure 1. U.S. Retractable Needle Safety Syringes Market Share (%) in Terms of Value, By Product Type, 2020
Increasing incidence of chronic diseases and needle stick injury is expected to drive the market growth during the forecast period
The increasing incidence of chronic diseases such as cancer, diabetes, and cardiovascular diseases and rising incidence of needle stick injuries are expected to boost growth of the U.S. retractable needle safety syringes market over the forecast period. For instance, according to the National Cancer Institute report, in 2020, an estimated 1,806,590 new cases of cancer will be diagnosed in the U.S. and 606,520 people will die from the disease.
Figure 2. U.S. Retractable Needle Safety Syringes Market Share (%), by End User, 2020
Government initiatives for blood collection is expected to drive the market growth during the forecast period.
The increasing government initiatives for blood collection and blood donation is expected to drive the market growth over the forecast period. For instance, in May 2020, The Defense Department begun an effort to collect 8,000 donated units of plasma from patients who have recovered from COVID-19 to support the development of an effective treatment against the disease in the U.S. Donations will be accepted at 15 Armed Services Blood Program centers across the U.S., and in Hawaii, Guam, and Germany.
U.S. Retractable Needle Safety Syringes Market Report Coverage
||Market Size in 2020:
||US$ 148.8 Mn
|Historical Data for:
||2016 to 2019
||2020 to 2027
|Forecast Period 2020 to 2027 CAGR:
||2027 Value Projection:
||US$ 205.2 Mn
- By Product Type: Manual, Automated
- By End User: Hospitals, Physician Offices, Nursing Home, Dental Laboratories, Diagnostic Centers, Ambulatory Surgical Centers, Homecare Settings, Others (Clinics, Research, Laboratories, Etc.)
- By Distribution Channel: Hospital Pharmacies, Retail Pharmacies and Drug Store, E-Commerce
Becton, Dickinson and Company, Smiths Medical, Revolutions Medical Corporation, Retractable Technologies Inc., SOL-MILLENNIUM, Axel Bio Corporation, Inc., DMC Medical Limited, Medicina, Duopross Meditech Corp., and MHC Medical Products, LLC.
- Increasing incidence of chronic diseases
- U.S. Government initiatives for blood collection
|Restraints & Challenges:
- Increasing development and awareness of needle-free injection technology
- Risks associated with injections causing shift in treatment preference
U.S. Retractable Needle Safety Syringes Market– Impact of Coronavirus (COVID-19) Pandemic
Safety syringes are syringes developed with a safety mechanism to prevent needle stick and other injuries. The needle on a safety syringe can be detached or permanently attached. The emphasis on preventing the re-use of syringes by U.S. governments has raised the demand for safety syringes. Syringes with retractable needles and syringes with protective shields are safety syringes that are widely used in hospitals. Retractable needle safety syringes are preferred over conventional syringes because of their cost effectiveness and less chances of needle stick injuries, which is expected to drive the market growth. According to the World Health Organization, over 3.1 million people die every year due to unsafe injection practices.
Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization has declared it as a public health emergency. According to the World Health Organization’s report, the manifestation of coronavirus disease (COVID-19) has resulted in over 33 million infected individuals in the U.S. as of June 22, 2021. COVID-19 can affect the economy in three main ways; by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Key players operating in the U.S. retractable needle safety syringes market are facing major challenges on various fronts due to the COVID-19 pandemic. The major challenges include supply of raw materials for manufacturing retractable safety needles due to irregularities in transportation facility.
U.S. Retractable Needle Safety Syringes Market: Restraint
The major factors that tend to hinder growth of the U.S. retractable needle safety syringes market include risks associated with injections causing shift in treatment preference and increasing development and awareness of needle-free injection technology. For instance, in December 2019, Nephron Pharmaceuticals Corporation entered into a partnership with National Medical Products Inc., a developer of J-Tip Needle Free Injector to provide patients quality care through virtually pain-free anesthetic.
Major players operating in the U.S. retractable needle safety syringes market include Becton, Dickinson and Company, Smiths Medical, Revolutions Medical Corporation, Retractable Technologies Inc., SOL-MILLENNIUM, Axel Bio Corporation, Inc., DMC Medical Limited, Medicina, Duopross Meditech Corp., and MHC Medical Products, LLC.