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The growing concern on the prevention of needlestick injury, safety injection devices have achieved increased attention from the manufacturers and healthcare professionals worldwide. The continuous emergence of regulatory concerns in the past few years have made certain that manufacturers imply in the product design and integrated safety controls to meet the requirements. Syringes and needles are intended to improve safety of the drug administration procedure and eradicate injuries caused by needlesticks. The growth of the market is due to the rising safety concerns, increase in the incidence of needlestick injuries (NSIs) increasing technological advancements and availability of safer syringe systems.
The needlestick safety injection devices market is growing due to the growing regulatory scenarios, rising safety concerns and availability of safety injection are driving the market. Moreover, rising incidences of NSIs due blood collection needles, intravenous stylets, hypodermic needles, and needles used to connect parts of intravenous delivery systems are also driving the market growth. According to the US Department of Health Services Policy and Management 2019, the global incidence of NSIs estimated to be 10.81% among healthcare providers. Also, introduction of technologically advanced products and lower cost of disposal of a safety syringe are further driving the market growth in the forecast period.
However, the stringent regulatory policies regarding needlestick safety injection devices market may obstruct the market growth.
Key Market Driver -
Rising incidences of NSIs and new technological advancements are boosting the market growth.
Key Market Restraint -
Stringent regulatory policies regarding needlestick safety injection are likely to hinder the market growth
Globally, the needlestick safety injection devices market can be segmented on the basis of type, end-users, and region. Based on the type, the market can be segmented into safety syringe and safety needles. Based on the end-users the market can be segmented into hospitals, specialty clinics, Ambulatory Surgical Centres, and diagnostic centres and others.
Geographically, the needlestick safety injection devices market can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
Some of the major companies that are present in the needlestick safety injection devices market are Medtronic, BD, Smiths Group plc, West Pharmaceutical Services, Inc., Gerresheimer AG, Terumo Medical Corporation, Duopross Meditech Corp., Medical Information Technology, Inc., Catalent, Inc., and other prominent players.
Geographically, the needlestick safety injection devices market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North American region is likely to hold the significant share of the market and is also estimated to follow the same thrust in the forecast period. The market in this region is leading due to the presence of refined healthcare facilities and increasing adoption of needlestick safety injection. Moreover, the high per capita expenditure by the government, rising awareness among people regarding NSIs are also driving the market in this region. Europe is expected hold the second largest share of the market throughout the forecast period. The factors such as rising acceptance of inventive medical devices, higher healthcare expenditure by the various government agencies, and growing awareness regarding NSIs in this region are likely to boost the growth of the market in this region. However, Asia-Pacific is expected to record highest growth for the market and it is anticipated to follow same trend in the forecast period. The growth of the market can be accredited to the rising awareness about NSIs, higher purchasing power of the Asian countries, growing healthcare spending and the implementation of innovative medical devices, are the major factors driving the growth of the market in this region. The market in Latin America and the Middle East and Africa are expected to grow fairly in the forecast period. The market in these regions is anticipated to grow due to the growing availability of doctors, rising healthcare infrastructure and expansion of market by key players.
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