Retractable Needles Market to Witness Heightened Revenue Growth in the Next Decade

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Future Market Insights

VALLEY COTTAGE, N.Y. –A retractable needle has a sheath of protection over it. The needle retracts into the barrel shaped protection to protect the healthcare professionals and other patients from accidental needle stick injuries. Needle sticks are a source of infections affecting millions of practioners. Technology advancements have led to manufacturing of retractable needles which are better than the conventional needles. When a conventional needle is used there are chances of infection if the same needle is injected onto the other patient accidently. United States accounts for approximately 300,000 needle stick injuries which further leads to HIV and hepatitis infections. Moreover the conventional needles had increased the risk of diseases.

The major advantages of Retractable Needles are that they are very easy to use and ensure that after a single use of the syringe will not be able to use for the second time. The retractable needles are cost-effective. Moreover World health organization is campaign in many countries to start using auto disable syringes as they reduce the spread of infection and diseases.

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The manufacturers functioning in the Retractable Needles market are actively involved in collaborations and mergers, which are expected to increase the demand for Retractable Needles market. The companies such as Retractable Technologies, Inc., are focusing to developing better versions of Retractable Needles which will harm less to the patients, and can be responsible for a large revenue share in the retractable needle market.

Retractable Needles Market: Market Dynamics

Increasing prevalence of chronic diseases such as diabetes, cancer and tuberculosis are driving retractable needles market. Also growing incidences of diseases from reusing the conventional needles is also driving the market for retractable needles.  According to WHO 16 Bn injections are used per annum. Also unsafe usage of conventional needles have been observed which is causing widespread infections. The usage of retractable needles also decrease the needle stick injuries. Moreover the retractable needles are time saving, reduce waste volume and are considered safe. Also diseases such as HIV and blood borne diseases affects with the use of conventional syringes which would further increase the adoption of retractable needles over a period of time. The retractable syringes allows the health workers to feel safe by reducing the risk of infections. The retractable needles protect both the patients as well as physicians which would further drive the market for retractable needle market. Moreover they are easy to use and allows single handed applications.

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Increasing geriatric population, are expected to increase the growth of Retractable Needles market as well. Other important factors such as increasing number of diagnostic laboratories and Technological advancements is expected to increase the growth of Retractable Needles market.

Apart from the factors driving the disposable needle guide market, there are some factors which can hinder the growth of Retractable Needles market. Restraints such as high cost of treatment and diagnosis, lack of awareness in some of the emerging regions, are expected to hinder the growth of Retractable Needles market.  

Retractable Needles Market: Region-wise Outlook

On the basis of geography, global Retractable Needles market has been segmented into seven to eight key regions viz. North America, Latin America, Europe, East Asia, South Asia and Oceania. North America is expected to hold the highest share in the global Retractable Needles market due to presence of well-established healthcare, awareness about the product, infrastructure and availability of technologically advanced products. Increase in standard practice in the United States, other countries in the EU and Australia is expected to increase the market for retractable needles market. Moreover the countries are working towards implementing requirements for health professionals to use retractable needles. Asia Pacific is also expected to register a high revenue growth in the Retractable Needles market due to increasing population and increasing healthcare awareness among the people.

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Retractable Needles Market: Key Players

There are many companies associated with the manufacturing of Retractable Needles market. The key players operating in the Retractable Needles market follow promotional strategies such as partnerships with other companies, development of new and advanced products.  Some of the key players present in global Retractable Needles market are Becton, Dickinson and Company, Retractable Technologies, Inc., Numedico Pty Ltd, Axel Bio Corporation, AccuPoint, Smiths Group plc. and many more companies manufacturing retractable needles.

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