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Needle Destroyer Market size is slated to amass considerable growth during 2023 to 2032, owing to a rise in waste from syringes, sharp plastic, scissors, lancets, and knife. Increasing cases of sharp injuries and the perceived risk of pathogen transmission from needles will boost the use of needle destroyers. Rising prevalence of HIV, acquired from infected needle pricks accidentally, has been expediting the product demand globally.
Heightened awareness about the advantages of needle destroyers in hospitals, clinics and nursing homes will encourage leading companies to expand their penetration in the untapped areas. Industry players are likely to gain traction from devices developed to minimize the risk of needlestick injuries.
The market is projected to witness slow growth due to the technological inadequacies and loss of tangible sensation during the use of certain devices.
Based on product, electrical needle burner is likely to account for a notable market share market over 2023-2032. The equipment provides numerous benefits including ease of use, light weight, compact design, and lesser time to destroy needles. Building on these merits, the electrical needle burners are being extensively preferred in hospitals and clinics, where the patient ingress is critically high.
With respect to end-use, global needle destroyer market share from hospitals will grow at a notable CAGR due to increasing cases of exposure to blood-borne viruses such as Hepatitis B virus and Hepatitis C Virus. According to the latest estimates of WHO and the Global Burden of Disease study, hepatitis claims approximately 1.34 million lives annually. Healthcare organizations are expected to boost CAPEX across advanced and emerging economies. Needle destroyers have become trendier as a portable solution for the safe disposal of used syringes. Hospitals are likely to seek needle destroyers that are safe, cost-effective, and eco-friendly.
As per the regional point of view, North America needle destroyer market is projected to gain major impetus in the coming years on the back of the presence of leading companies and expanding healthcare industry. The increasing rate of injecting drug users and incorrect disposal of used needles will fuel the demand for a need destroyer machine. The regional market landscape is further being driven by the end-users’ rising demand for lightweight, low power consuming and maintenance-free equipment.
Besides, diagnostic laboratories, ambulatory surgical centers, and hospitals are investing heftily in needle syringe destroyers and electrical needle burners, which is slated to offer positive impetus to the regional market expansion.
Global needle destroyer market share will be propelled with the presence of leading companies, such as Bornemann Maschinenbau GmbH, Millennium Surgical Corp, GPC Medical Ltd., Black Smith Surgical, Amkay Products Private Limited, Surgitech, N.R. Surgicals. and Invitro Biotech ltd., among others. These prominent companies emphasizing on product launches, innovations, technological advancements and mergers & acquisitions to gain a competitive edge in the overall marketplace.