The global needlestick safety injection devices market size is set to enter a period of prolific expansionon account of the growing incidence of needlestick injuries (NSIs) among healthcare workers, observes Fortune Business Insights™ in its report, titled “Needlestick Safety Injection Devices Market Size, Share & Industry Analysis, By Type (Safety Syringe, Safety Needles), By End-User (Hospitals, Specialty Clinics, Ambulatory Surgical Centres, Diagnostic Centres, Others) and Regional Forecast, 2019-2026”. NSIs are a common phenomenon in healthcare facilities where doctors and nurses are constantly administering medications to patients through injections. These injuries, however, are dangerous as they may lead to life-altering infections such as HIV/AIDS and hepatitis B. The prevalence of NSIs has been consistently high around the world. For example, in the US, the Centers for Disease Control and Prevention (CDC) estimates that over 3 million healthcare workers are exposed to body fluids and blood via sharps injuries, with an annual incidence of NSIs standing at 6 million. Similarly, in the UK, a 2019 survey conducted by the medical solutions company, Mölnlycke, found that around 94% of practicing surgeons in the UK have either been afflicted by an NSI or have seen a colleague experience one. Thus, the awareness of the risks associated with these injuries is fueling the demand for needlestick safety injection devices in the healthcare sector.
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Highlights of the Report:
- Granular analysis of the factors driving, shaping, and constraining the market;
- Actionable research into the leading segments of the market;
- Detailed assessment of the regional dynamics of the market; and
- Thorough examination of the key market players and their strategies.
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Increasing Patient Pool to Heighten Adoption of Safety Syringes
The number of patients around the globe is rising at an unprecedented pace owing to the ever-increasing prevalence of all varieties of diseases. For example, according to the World Health Organization (WHO), in 2018, new cancer cases rose to 18.1 million, with the disease causing 9.6 million deaths worldwide. Cancer of any kind requires comprehensive treatment, which includes taking a variety of injections. With cancer cases steadily rising, the demand for efficient drug delivery systems will rise in tandem, thus stoking the adoption of needlestick safety injection devices among healthcare workers. Similar case can be made out for diabetes, which, according to the International Diabetes Foundation, currently afflicts 463 million people worldwide and by 2045, the disease will have 700 million people in its grip.Diabetics need to conduct frequent blood tests and in severe cases, they may even need to make frequent hospital visits for medication. This, too, will surge the demand for safe drug administration mechanisms among patients and health workers alike, which will favor the needlestick safety injection devices market growth.
Presence of Sophisticated Health Facilities to Fuel the Market in North America
Among regions, North America is slated to dominate the needlestick safety injection devices market share in the near future due to the region’s well-established and sophisticated healthcare infrastructure in the region. Moreover, high per capita health expenditure and increasing patient awareness in the region will also contribute to the regional market growth.
Asia Pacific is set to display the fastest growth in this market on account of the spreading awareness among patients and health workers about NSIs, improving healthcare spending, evolving healthcare infrastructure, and increasing demand for advanced drug delivery systems. Europe is also expected to register excellent growth owing to the rapid adoption of next-gen medical devices, robust healthcare systems, and presence of a strong medical industry in the region.
Industry-Government Partnerships to Battle COVID-19 to Heat up Competition
The coronavirus pandemic has exerted tremendous stress on the healthcare sector across countries, impelling governments and industry players to collaborate and pool resources to fight this crisis. Apart from this, companies are focusing on developing and regularly launching innovative products to gain competitive edge.
- July 2020: Smiths Medical joined forces with the US Health Department’s Biomedical Advanced Research and Development Authority and the Department of Defense. The aim of this venture is to expand the production of integrated hypodermic needles and syringes at the Smiths Medical Facility in New Hampshire to aid the government’s COVID vaccination efforts.
- September 2019:Gerresheimerannounced the expansion of its pre-fillable polymer syringe line with the addition of the Gx RTF® ClearJect®, 2.25 ml.The new offering is designed to suit the primary packaging needs of sophisticated medications, especially for biologicals, biosimilars, and biobetters.
List of Key Players Covered in the Needlestick Safety Injection Devices Market Report:
- Catalent, Inc.
- DuoprossMeditech Corp
- Gerresheimer AG
- Smiths Group plc
- Medical Information Technology, Inc.
- Terumo Medical Corporation
- West Pharmaceutical Services, Inc.
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