U.S. Safety Needles Drugs Market to Top $ 3.4 Billion By 2027

Strong growth is predicted for the U.S. safety needles market, which is forecast to grow nearly 5 percent annually over the next six years, according to data from Coherent Market Insights. 

The market was estimated to be valued at $2.44 billion in 2020 and is expected to exhibit a compound annual growth rate of 4.8 percent through 2027. 
 
The increasing technological advancementsprovide an opportunity for the companies to produce products with better quality and less price, with the help of advanced manufacturing processes, companies are producing new products to address the market demand. For instance, in January 2017, a group of researchers in the Center for Nanoscale Biophotonics at the University of Adelaide developed a smart needle with fiber optic camera attached to the computer, enabling neurosurgeons in recognizing blood vessel. The product came into clinical trials in early 2018.
 
Moreover, key companies focusing on inorganic strategies such as merger and acquisitions to strengthen their positioning in the market. In January 2016, Medtronic acquired Covidien plc, a medical device company focusing on manufacturing of safety needles and safety syringes. With that acquisition, Medtronic acquired the Covidien’s portfolio of safety products such as safety needles and services including other product lines.
 
The COVID-19 pandemic has impacted every country throughout the world and states in America are taking various initiatives to combat the spread of COVID-19. For instance, in May 2020, the Centers for Disease Control and Prevention (CDC) started working with the all-of-government and all-of-America approach to increase testing capacity, improve case detection, and contact tracing across all the U.S. states and re-open the country
 
Moreover, the CDC is working with the state and local partners to define the circumstances where testing of asymptomatic people is likely to help control the pandemic. Furthermore, the CDC is supporting the improvement of current data infrastructure, and the development and integration of digital/technology solutions in various healthcare solutions to ensure timely and transparent communication with all citizens including daily new cases, hospitalizations, use of intensive care units (ICU), and mortality by country and/or zip code.
 
Additionally, key companies are focusing on distributing of safety needles and safety syringes for the hospitals in the United States. For instance, in January 2021, Becton, Dickson and Company announced the distribution of 800 million syringes and needles (including safety needles) to the various hospitals conducting COVID-19 vaccination campaigns in the United States.
 
The increasing launches of safety needle used for drug delivery is expected to drive the growth of the U.S. safety needles market. In September 2019, Owen Mumford, a company manufactures an innovative range of medical device, launched Ateria SafeControl, the next generation safety pen needles used for administering medicines to patients with diabetes. This product is specially designed to protect healthcare professionals from needlestick injuries (NSIs) while enabling them to keep control of the overall injection process.
 
Among product type, the blood collection needles segment is expected to hold a dominant position in the U.S. safety needles market in 2020, owing to increasing need of blood plasma and blood for treatment of patients in the United States. According to the American Red Cross, around 7,000 units of platelets and 10,000 units of plasma are required daily in the United States and around 21 million blood components are transfused each year in the United States.
 
Among application, the drug delivery segment is expected to hold a dominant position in the U.S. safety needles market in 2020, owing to increasing launches of safety needle used for drug delivery. In 2018, ARKRAY USA Inc., a company focusing manufacturing of cost effective medical devices, launched Assure ID Safety Pen Needles used for injection of insulin in diabetic patients.

Among End user, the hospital segment is expected to hold a dominant position in the U.S. safety needles market in 2020, owing to the increasing number of patient population suffering from traumatic injuries and other chronic condition rising hospital visit of patients suffering from chronic conditions to undergo surgeries. According to the 2019 report published by the American Society of Plastic Surgeons, in the United States, around 3,592,576 reconstructive procedures and 4,553,896 cosmetic procedures were performed in hospitals in 2019.

Key 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.