U.S. Safety Needles Market to Surpass US$ 3,408.0 Million by end of 2027, Says Coherent Market Insights (CMI)

SEATTLE--(BUSINESS WIRE)--According to Coherent Market Insights, the U.S. Safety Needles market is estimated to be valued at US$ 2,447.3 million in 2020 and is expected to exhibit a CAGR of 4.8% over the forecast period (2020-2027).

Key Trends and Analysis of the U.S. Safety Needles Market:

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.

Furthermore, 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 were accepted at 15 Armed Services Blood Program centers across the U.S., and in Hawaii, Guam, and Germany

Furthermore, favorable government reimbursement for pen needles is expected to drive the market over the forecast period. According to the American Diabetes Association 2018 report, 34.2 million Americans, or 10.5% of the population in 2018, had diabetes. Favorable polices by the U.S. Medicare regarding reimbursement for pen needles and increasing prevalence of diabetes are the major factors expected to fuel overall revenue growth of safety needles in the U.S. over the forecast period

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Key Market Takeaways:

The U.S. safety needles market is expected to exhibit a CAGR of 4.8 % over the forecast period. High incidence of spinal injuries and the rising geriatric population susceptible to pain and neurological disorders are factors expected to drive the market growth in the near future. For instance, according to the report published by the National Spinal Cord Injury Statistical Center in 2018, the incidence of spinal cord injury is approximately 54 cases per one million people in the U.S. and around 17,700 new cases of spinal cord injury are diagnosed each year in the U.S.

Competitive Landscape:

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

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Market Segmentation:

• 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
  • Retractable Syringes
• U.S. Safety Needles Market, By Application :
  • Sample Collection
  • Drug Delivery
• U.S. Safety Needles Market, By End User :
  • Hospitals
  • Physician Offices
  • Nursing Home
  • Dental Laboratories
  • Diagnostic Centers
  • Ambulatory Surgical Centers
  • Homecare Settings
  • Others

Related Market Intelligence Reports:

Global 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), By Application (Sample Collection, Drug Delivery), By Distribution Channel (Hospital Pharmacies, Private Clinics, Retail Pharmacies and Drug Store, E-Commerce), By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027

Read more: https://www.coherentmarketinsights.com/market-insight/safety-needles-market-3555

Disposable Asepsis Safe Injection Needle Market, By Needle Type (Conventional and Safety Needles), By Delivery Site (Intradermal, Subcutaneous, Intravenous, Intramuscular, and Intraperitoneal), By End User (Hospitals, Clinics, Diagnostic Centers, Research Institutes, Home Care Settings, and Others), and By Region - Size, Share, Outlook, and Opportunity Analysis, 2018-2026

Read more: https://www.coherentmarketinsights.com/ongoing-insight/disposable-asepsis-safe-injection-needle-market-1852

About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.