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Safety Needles Market Growing At A CAGR Of 8.1% From 2019-2026 | Business and Future Opportunity

The safety needles market accounted for $1,609 million in 2018, and is expected to reach $3,009 million by 2026, registering a CAGR of 8.1% from 2019 to 2026.

PORTLAND, OREGON, US, December 16, 2021 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Safety Needles Market by Product (Active Safety Needles and Passive Safety Needles) and End User (Hospitals & Ambulatory Surgery Centers, Diabetic Patients, Family Practices, Psychiatry, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026”. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.

The safety needles market accounted for $1,609 million in 2018, and is expected to reach $3,009 million by 2026, registering a CAGR of 8.1% from 2019 to 2026. The global safety needles market witness’s significant growth, owing to factors such as increase in cases of chronic diseases & infections and surge in prevalence of needlestick injuries. Favorable government initiatives related to the use of safety needles boosts the growth of market. However, high price of safety needles and availability of alternative modes of drug delivery hamper the growth of the market. Conversely, high growth potential in emerging economies is expected to create lucrative opportunities for market expansion during the forecast period.

Access Full Summary at: https://www.alliedmarketresearch.com/safety-needles-market

In 2018, North America accounted for the major share of safety needles market, and is expected to continue this trend during the forecast period, owing to rise in cases of needlestick injuries in the region. Moreover, other factors such as easy availability of safety needles, presence of key players, and surge in adoption of safety needles boost the market growth. However, Asia-Pacific is expected to exhibit fastest growth rate, owing to surge in awareness related to harmful outcomes of needlestick injuries.

Furthermore, upsurge in prevalence of fatal infections that can be transmitted through needlestick injuries and rise in healthcare expenditure in the region are the key factors that significantly contribute toward the growth of the market. The constantly evolving life science industry drives the growth of the market in the developing economies such as India, China, Malaysia, and others, thus providing lucrative opportunities to the safety needles providers for expansion for their businesses.

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Key Findings of the Safety needles Market:

• Active safety needles occupied 70.90% share of the global safety needles market in 2018
• The psychiatry segment is anticipated to grow with the highest CAGR throughout the forecast period
• The hospitals & ambulatory surgery centers segment accounted for 31.78% share of the market in 2018
• Asia-Pacific is anticipated to grow at the highest rate during the analysis period, followed by LAMEA

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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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