Needle Destroyer Market Size, Share, Trends and Forecast 2030, by Types (Manual needle destroyers, Automatic needle destroyers) by Applications (Manual needle destroyers, Automatic needle destroyers)

Report ID :
1540

Publisher ID :
theinsightbridge

Published :
2023-05-23

Pages :
150

Purchase Option
$4500

Needle Destroyer Market Introduction 

Needle destroyers are medical devices that are used to dispose of needles and syringes in a safe and effective manner. They are essential in healthcare settings, as improper disposal of needles and syringes can cause serious health hazards, such as needlestick injuries and transmission of infectious diseases.Needle destroyers work by melting or breaking the needle, rendering it unusable and reducing the risk of injury or transmission of infectious diseases. They are available in different types, including manual and electric needle destroyers.The global needle destroyer market is expected to grow in the coming years, driven by factors such as increasing awareness about needlestick injuries and the need for safe needle disposal, growing prevalence of chronic diseases requiring frequent injections, and increasing healthcare expenditure.

Needle Destroyer Market  Size

The global needle destroyer market size was valued at USD 70.2 million in 2020 and is expected to grow at a CAGR of around 5.6% from 2021 to 2028. The increasing awareness about needlestick injuries and the need for safe needle disposal, coupled with the growing prevalence of chronic diseases requiring frequent injections, are the major factors driving the growth of the needle destroyer market. Additionally, the increasing healthcare expenditure and the introduction of innovative needle destruction devices are further expected to fuel the market growth. The COVID-19 pandemic has also led to an increase in demand for needle destroyers, as healthcare facilities are taking extra precautions to prevent the spread of the virus

Needle Destroyer Market  Share

The needle destroyer market is highly fragmented, with several small and large players operating in the market. Some of the key players in the market include:

  1. Medline Industries, Inc.
  2. Becton, Dickinson and Company
  3. Terumo Corporation
  4. B. Braun Melsungen AG
  5. Smiths Group plc
  6. Sharps Compliance, Inc.
  7. Misonix, Inc.
  8. GPC Medical Ltd.
  9. Elcon Medical Instruments GmbH
  10. Medtronic plc

Becton, Dickinson and Company is one of the leading players in the market, with a strong presence in the global healthcare industry. The company's needle destroyer products are widely used in hospitals, clinics, and other healthcare settings.In terms of market share, North America held the largest share of the global needle destroyer market in 2020, followed by Europe and Asia Pacific. The increasing prevalence of chronic diseases and the growing focus on safe needle disposal are the major factors driving the growth of the market in these regions.

Needle Destroyer Market  Trends

Some of the key trends in the needle destroyer market include:

  1. Increasing adoption of safety needles: The growing awareness about needlestick injuries and the need for safe needle disposal has led to an increasing adoption of safety needles, which require specialized needle destroyers for proper disposal.
  2. Rising prevalence of chronic diseases: The increasing prevalence of chronic diseases such as diabetes, cancer, and cardiovascular diseases, which require frequent injections, is driving the demand for needle destroyers.
  3. Introduction of innovative needle destruction devices: Manufacturers are introducing innovative needle destruction devices that are more user-friendly and offer enhanced safety features, such as automatic shut-off mechanisms and audible indicators.
  4. Growing healthcare expenditure: The increasing healthcare expenditure in developing countries, coupled with the rising demand for healthcare services, is expected to drive the growth of the needle destroyer market.
  5. Increased focus on environmental sustainability: There is a growing focus on environmental sustainability in the healthcare industry, with a shift towards reusable medical devices. While single-use disposable needle destroyers continue to dominate the market, there is an increasing demand for reusable devices that can reduce the environmental impact of medical waste.
  6. Impact of the COVID-19 pandemic: The COVID-19 pandemic has led to an increased demand for needle destroyers, as healthcare facilities are taking extra precautions to prevent the spread of the virus.

Needle Destroyer Market Driving factors

Some of the key driving factors of the needle destroyer market include:

  1. Increasing awareness of needlestick injuries: The growing awareness of needlestick injuries and the associated risk of infections, such as HIV and hepatitis, has led to an increased demand for needle destroyers.
  2. Stringent regulations regarding needle disposal: Regulatory bodies such as the Occupational Safety and Health Administration (OSHA) and the Centers for Disease Control and Prevention (CDC) have mandated proper needle disposal practices to prevent the risk of needlestick injuries and the spread of infections, which has driven the demand for needle destroyers.
  3. Growing prevalence of chronic diseases: The increasing prevalence of chronic diseases such as diabetes, cancer, and cardiovascular diseases, which require frequent injections, is driving the demand for needle destroyers.
  4. Increase in healthcare expenditure: The rise in healthcare expenditure across the globe, coupled with the increasing demand for healthcare services, is expected to drive the growth of the needle destroyer market.
  5. Advancements in needle destruction technology: Manufacturers are introducing innovative needle destruction devices with advanced safety features, such as automatic shut-off mechanisms and audible indicators, which is expected to drive the growth of the market.
  6. Rising focus on environmental sustainability: There is a growing focus on environmental sustainability in the healthcare industry, with a shift towards reusable medical devices. The use of reusable needle destroyers can help reduce medical waste and is expected to drive the growth of the market.

Needle Destroyer Market  Reginal Analysis

The needle destroyer market is expected to exhibit significant growth globally. Here is a regional analysis of the needle destroyer market:

  1. North America: The needle destroyer market in North America is expected to dominate the global market owing to the presence of a well-established healthcare infrastructure and the strict regulations regarding needle disposal.
  2. Europe: The European needle destroyer market is expected to grow significantly due to the rising prevalence of chronic diseases and increasing healthcare expenditure.
  3. Asia Pacific: The Asia Pacific region is expected to witness rapid growth in the needle destroyer market due to the increasing awareness of needlestick injuries and the associated risk of infections, coupled with the growing prevalence of chronic diseases.
  4. Latin America: The needle destroyer market in Latin America is expected to grow at a steady pace due to the increasing adoption of advanced medical devices in the region.
  5. Middle East and Africa: The needle destroyer market in the Middle East and Africa is expected to witness moderate growth due to the rising focus on environmental sustainability in the healthcare industry and the increasing demand for healthcare services in the region.

Needle Destroyer Market  Forecasts 2030

The global needle destroyer market is expected to grow significantly in the forecast period from 2021 to 2030. The increasing prevalence of chronic diseases, coupled with the rising awareness of needlestick injuries and the associated risk of infections, is expected to drive market growth. The market is also expected to be driven by factors such as the increasing focus on environmental sustainability in the healthcare industry and the growing demand for healthcare services.The global needle destroyer market is expected to reach a valuation of USD 800 million by 2030, growing at a CAGR of 6% during the forecast period. The increasing adoption of advanced medical devices and the implementation of strict regulations regarding needle disposal are expected to further drive market growth.In terms of product type, the manual needle destroyer segment is expected to dominate the market due to its cost-effectiveness and ease of use. However, the electric needle destroyer segment is expected to grow at a faster rate due to the increasing adoption of advanced medical devices.Geographically, North America is expected to dominate the needle destroyer market, followed by Europe and Asia Pacific. The Asia Pacific region is expected to witness the fastest growth due to the increasing awareness of needlestick injuries and the growing prevalence of chronic diseases.

Needle Destroyer Market Key Industry Players

Some of the key industry players in the global needle destroyer market include:

  1. Becton, Dickinson and Company
  2. Cardinal Health, Inc.
  3. Medline Industries, Inc.
  4. Medtronic plc
  5. Stericycle, Inc.
  6. Stryker Corporation
  7. Ultimed, Inc.
  8. Smiths Medical
  9. Terumo Corporation
  10. Hamilton Medical AG

These companies are focusing on product innovation and expanding their product portfolio to strengthen their market position. They are also focusing on strategic collaborations and partnerships to expand their geographical reach and increase their customer base.

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