Needle Destroyer Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI4282
Needle Destroyer Market size is projected to experience significant growth from 2019 to 2025.
Rapid utilization of needled syringes in healthcare settings such as hospitals, clinics, and ambulatory surgical centers can lead to the risk of accidental punctures causing needle stick injuries thus, increasing the risk of pathogen transmission from needle injuries. According to the Centers for Disease Control and Prevention (CDC), approximately 3,85,000 needle stick injuries occur each year. Thus, to avoid such injuries novel advancements have arisen leading to significant growth of needle destroyer market in the foreseeable period.
Several types of needle are being used over a course of action with a projected seventeen billion injections being ordered yearly across the globe. Therefore, the waste associated with needles is constantly rising and hence, needle destruction devices have come into the market. Also, to provide a safe environment to the patients, healthcare settings are adopting such needle destruction devices. Moreover, numerous initiatives are undertaken by the government for the effective management and disposal of needles. Thus, increasing safety practices will generate opportunities for needle destroyer devices market growth.
Moreover, growing concerns of occupational exposure to blood-borne viruses is further expected to increase the demand for needle destroyer market growth.
Electrical Needle Burner segment will hold a significant revenue size over the forecast period. This instrument can be used to destroy numerous size of the already used syringes and needles in just 3 seconds. This equipment offers various advantages such as easy-to-operate, light-in-weight and its compact design. Therefore, to avoid the risk caused by needles, electric needle destroyer is widely used in clinics and hospitals thus, impelling the segment growth over the projected timeframe.
Hospitals segment will show momentous growth over the analysis timeframe owing to the rising adoption of sharp needle destruction devices to provide a safe environment for patients, staff, and visitors in these facilities. High growth can be attributed to the presence of well-equipped and innovative devices in these amenities. Thus, the patients usually prefer to receive treatments from hospitals thereby, boosting the segment growth in the upcoming years.
U.S. needle destroyer market is estimated to foresee a lucrative market growth over the forecast period. Needle destroyer devices are highly implemented in the U.S. hospital settings to reduce the health risks associated with needle such as accidental puncture, pathogen transmission, and exposure to blood-borne viruses. Also, the U.S. FDA stated that health risks are lessened by implementing needle destroyer devices with special control, safety, and effective practices. Thus, the rising U.S. FDA approvals will boost market growth. Moreover, rising novel advancements by major industry players will drive the U.S. needle destroyer market growth over the projected timeframe.
India needle destroyer market is projected to grow at a robust pace over the forecast period owing to the rising number of needle stick injuries among healthcare workers coupled with subsequent exposure to blood-borne pathogens due to such injuries. According to a study conducted by National Center for Biotechnology Information, nearly 380 healthcare workers are exposed to needle stick injuries and among them, 11% were technicians, 33% were attendants, 11% were doctors, and 45% were nurses. Furthermore, rising adoption of needle destroyer devices in hospital settings will augment business growth in the coming years.
Few of the prominent companies operating in needle destroyer market include Amkay Products Private Limited, Bornemann Maschinenbau GmbH, Invitro Biotech ltd., Black Smith Surgical, and Surgipro, Inc. among others. These industry players are resorting to strategies such as partnerships, merger & acquisition, and collaborations to acquire significant revenue shares and gain a competitive edge over other firms operating in the market. Moreover, these players are focusing on advancement in products to develop superior products and to expand a broader customer base.
Needle Destroyer Market by Product, 2014-2025 (USD Million)
- Electrical Needle Burner
- Needle syringe destroyer
Needle Destroyer Market by End-use, 2014-2025 (USD Million)
- Ambulatory Surgical Center
- Diagnostic laboratories
- Home care Settings
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
- Amkay Products Private Limited
- Bornemann Maschinenbau GmbH
- Black Smith Surgical
- Cecon Pollutech Systems Pvt. Ltd.
- GPC Medical Ltd.
- Invitro Biotech ltd.
- Millennium Surgical Corp
- N.R. Surgicals.
- Surgipro, Inc.
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