U.S. SAFETY NEEDLES MARKET ANALYSIS

U.S. safety needles market 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). Increasing product launches by key market players is expected to drive the market growth over the forecast period. Moreover, increasing product approvals and inorganic strategies such as collaborations and partnerships are expected to drive the U.S. safety eedles market growth.

Analysts’ Views on U.S. Safety Needles Market:

Rising number of patients with diabetes and cancer, among other diseases that need safety needles for the treatment and diagnosis of disease is expected to  create opportunity for various manufacturers to offer different types of safety syrinegs such as prefilled syringe needle, A.V. fistula needle, and cannula needle among others.

Figure 1. U.S. Safety Needles Market Share (%), By Product Type, 2023

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U.S. Safety Needles Market- Drivers

• Increasing prevalence of diabetes: Increasing prevalence of diabetes in the U.S. is expected to drive the market growth over the forecast period as safety needles are used in the diabetes treatment. For instance, in 2022, according to the National Diabetes Statistics Report by the U.S. Department of Health & Human Services, 11.3% of the U.S. population have diabetes.
• Increasing number of product approvals: Increasing number of product approvals by the regulatory authorities is expected to boost growth of the U.S safety needles market over the  forecast period. For instance, in June 2020, Regeneron Pharmaceuticals, Inc., a U.S.based pharmaceutical company, announced that it had received approval from the U.S. Food and Drug Administration (FDA) for the 300 mg single-dose pre-filled pen for Dupixent (dupilumab) in collaboration with Sanofi, a global healthcare company. The pre-filled pen has visual and audible feedback, a hidden needle, single-press auto-injection, and other administration-assisting features.

Fig. 2 U.S. Safety Needles Market (US$ Bn) & Y-o-Y Growth (%), 2018-2030

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U.S. Safety Needles Market– Impact of Coronavirus (COVID-19) Pandemic

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 (WHO) declared it a public health emergency on January 30, 2020.

COVID-19 has affected the economy in three main ways: by directly affecting the production and demand for medical devices, by creating disruptions in modality, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, UAE, Egypt, and others faced problems regardingthe transportation of medical devices from one place to another.

Quarantine, traveling constraints, and social distancing measures are likely to lead to a steep decline in business and consumer spending. Furthermore, healthcare providers faced challenges such as lack of additional manpower, equipment, consumables, and other resources that were required to ensure safety in hospitals and provide treatment to patients with other diseases. Though the impact of COVID-19 on the U.S. safety needle market was positive as government intiatives for the manufacturing of safety needles used in the syringes were increased during the pandemic. For instance, in November 2020, ApiJect Systems, Corp., a U.S.-based healthcare company, announced that it had been granted a US$ 590 Million loan by the U.S. International Development Finance Corporation (DFC). A high-quality needle hub facility wasbuilt with the help of the DFC loan and a sizable amount of private funding that reducedApiJect's dependency on international supply chains significantly.

U.S. Safety Needles Market Segmentation:

The U.S. safety needles market is segmented into product type, application,  end user, and distribution channel.

• Based on product type, the U.S. safety needles market is segmented into fine Aaspirating 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. Out of which, blood collection needle segment is expected to dominant the market over the forecast period due to increasing product launches by the market players.
• Based on application, the market is segmented into sample collection and drug delivery. Out of which, the drug delivery segment is expected to dominate the market over the forecast period due to increasing usage of the safety needles for the drug delivery.
• Based on end user,, the market is segmented into hospitals, physician offices, nursing home, dental laboratories, diagnostic centers, ambulatory surgical centers, homecare settings, and others. Out of which, hospitals segment is expected to dominate the market over the forecast period due to usage of safety needles in hospitals.
• Based on distribution channel, the market is segmented into hospital pharmacies, private clinics, retail pharmacies and drug store, and e-Commerce. Out of which, retail pharmacies and drug store segment is expected to dominate the market over the forecast period due to rising launch of new retail and drug stores in the country.
• Among all the segmentation, product type segment has the highest potential due to increasing product approvals by the regulatory authorities. For instance, in October 2022, Sol-Millennium Inc., a company that manufactures needles, syringes, and blood collection devices, announced that it had  received a new 510(k) clearance from the U.S. Food and Drug Administration (FDA) for itsproprietary Sol-Guard Safety Pull Button Blood Collection Set. The Sol-Guard Safety Pull Button Blood Collection Set features spring-activated needle retraction technology that is designed to minimize the risk of accidental needlesticks and exposure to blood-borne pathogens.

U.S. Safety Needles Market Cross Sectional Analysis:

In product type segment, blood collection needle segment is expected to dominate in U.S. over forecast period as key market players such as BD, Medline, AdvaCare Pharma USA LLC, Nipro Medical among others are offering the blood collection needles

U.S. Safety Needles Market: Key Developments

• In May 2023, Thames Medical Ltd., a global supplier of anesthesia monitoring equipment for veterinary professionals including capnography equipment, and IVC Referral Centre Moorview Vets, a veterinary hospital, invested in 6 of the latest and most advanced multiparameter monitors from Thames Medical Ltd. Named  the Lutech V7, mainstream capnograph.
• In June 2022, West Pharmaceutical Services, Inc., a U.S.-based healthcare company, announced the launch of Daikyo Crystal Zenith 2.25mL Insert Needle Syringe System.
• In February 2021, No Borders, Inc., a U.S.- based software company, announced the successful introduction of its needles and syringes line by the company's subsidiary MediDent Supplies. Safety needles syringes, regular needles, and needle/syringe combo packs with the MediDent Supplies brand were developed as a line and produced first by the MediDent Supplies.

U.S. Safety Needles Market: Key Trends

• Increasing number of government initiatives to improve the healthcare facilities: Due to improved healthcare infrastructure, effective government policies, and sizable base of multinational corporations, the U.S safety needles market is expected to experience considerable expansion. Products with advanced features such as self-retracting needles and needles with safety locking system are gaining traction among healthcare professionals and patients. In October 2021, West Pharmaceutical Services, a designer and manufacturer of injectable pharmaceutical packaging and delivery systems, launched its latest offering for the Indian domestic marketNovaGuard SA Pro Safety System, a single-use accessory for prefilled ISO standard 0.5mL staked needle syringes.

U.S. Safety Needles Market: Restraint

• Increasing cases of trypanophobia: People with fears and phobias need support as these people work to manage their feelings during procedures involving needles. Increasing fear among the patients due to vaccination, surgical procedure, and others is expected to hinder the market growth during forecast period. For instance, in June 2021, according to an article published By Journal of Plos one, there is increased prevalence of needle fear in the healthcare professionals and pateints.
• Counterbalance: The fear and the phobias of the needle can be managed by encouraging the individual with methods like relaxing and breath control that further includes deep breathing, muscle relaxation and others.

U.S. Safety Needles Market: Key Players

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.  

Definition:  When the safety needle is activated, a strong shield surrounds the entire needle. Once the safety shield has been locked into place, the gadget cannot be deactivated due to the unique integrated locking mechanism thatmay be actuated with a thumb, finger, or flat surface. It frequently pairs with luer lock or luer connection devices.