U.S. Retractable Needle Safety Syringes Market to Surpass US$ 234.5 Mn by 2030
U.S. Retractable Needle Safety Syringes Market, by Product Type (Manual and Automated), 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, Retail Pharmacies, Drug Store, and E-Commerce) is estimated to be valued at US$ 169.3 Million 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 inorganic stratergies such as agreements among government authorities and market players is expected to boost growth of the U.S. retractable needle safety syringes market. For instance, in July 2020, the Biomedical Advanced Research and Development Authority (BARDA) and the U.S. Department of Defense (DoD) signed a deal to work with Smiths Medical, a compant develops, manufactures and sells innovative medical products to expand the domestic manufacturing capacity for safety needles and syringes in the U.S.
U.S. Retractable Needle Safety Syringes Market - Impact of Coronavirus (COVID-19) Pandemic
Supply chain and manufacturing activities in the U.S. have been disrupted due to the lockdown implemented by the government in the past few months, while some states in the U.S. faced problems with regards to the transportation of products. The coronavirus, or COVID-19, outbreak that started in Wuhan, China, has spread across continents, affecting various industries globally. The market for retractable needle safety syringes has been severely disrupted by forced quarantine, a labor shortage, and a scarcity of raw materials. As the link between regional warehouses is not smooth, the transportation of raw materials between regions cannot be carried out successfully. This shortage of raw materials has affected the supply chain of the U.S. retractable needle safety syringes market. Due to the severe shortage of medical resources at the front line, only patients diagnosed with serious conditions can be hospitalized. Respiratory support devices such as life-support machines, atomizers, oxygen generators, and monitors are primary clinical treatment medical devices. Thus, from diagnosis to cure, the need for instruments for measuring temperature, nucleic acid diagnostic kits, antiviral medical products, and life-support machines have increased consistently. Furthermore, key players operating in the market are focusing on the development and launch of novel retractable needle safety syringes for vaccination purpose in the U.S. For instance, in September 2020, DMC Medical Limited, a is a leading manufacturer of medical devices has launched the New SureSafe fully automatic retractable syringe in the U.S.
Browse 9 Market Data Tables and 21 Figures spread through 120 Pages and in-depth TOC on “U.S. Retractable Needle Safety Syringes Market”- Forecast to 2030, U.S. Retractable Needle Safety Syringes Market, , by Product Type (Manual and Automated), 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, Retail Pharmacies, Drug Store, and E-Commerce).
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Key Takeaways of the U.S. Retractable Needle Safety Syringes Market:
- The U.S. retractable needle safety syringes market is expected to exhibit a CAGR of 4.8% during the forecast period
- On the basis of product type, the manual segment is estimated to hold a dominant position in the U.S. retractable needle safety syringes market in 2020. For instance, Numedico Technologies Pty Ltd., a medical device company, offers ClickZip manual retractable safety syringes. It is a pre-assembled syringe that is latex-free and the needle is made from the highest-quality Japanese stainless steel to minimize discomfort.
- On the basis of end user, the hospitals segment is estimated to hold a dominant position in the U.S. retractable needle safety syringes market over the forecast period. The hospitals segment is expected to witness significant growth, owing to increasing hospitalizations due to chronic conditions, which, in turn, is expected to drive the demand for retractable needle safety syringes in hospitals. For instance, according to the American Hospital Association 2021 Fact Sheet, there are around 6,090 hospitals in the U.S., out of which 5,141 are community hospitals and 208 are federal government hospitals.
- The major players operating in the U.S. retractable needle safety syringes market are 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.
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