Retractable Needles Market To Reach USD 355.7 Million By 2031 | TMR Study

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Retractable Needles Market

Retractable needles market size is anticipated to exceed US$ 355.7 Mn by 2031 and it is projected to advance at a CAGR of 7.3% from 2022 to 2031

WILMINGTON, DELAWARE, UNITED STATES, October 12, 2023 /EINPresswire / -- The global Retractable Needles Market is poised for significant growth, with a projected Compound Annual Growth Rate (CAGR) of 7.3% from 2022 to 2031. In 2021, this market was valued at US$ 177.7 million, and it is anticipated to surpass US$ 355.7 million by 2031.

Retractable needles come in a range of sizes, including 0.5, 1, 3, 5, and 10mL, with various needle gauges and lengths. The distinguishing feature of these needles is their automatic retraction mechanism, which kicks in when the plunger handle is fully depressed. This innovation virtually eliminates any exposure to a contaminated needle, thus drastically reducing the risk of needlestick injuries.

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What sets retractable needle syringes apart is their user-friendly design, allowing for single-handed activation. Furthermore, they occupy less space during disposal compared to traditional safety needles, which is a significant advantage in preventing disposal-related needlestick injuries. These retractable safety needles are equipped with a protective sheath that conceals the needle. When activated, the needle retracts into this barrel-shaped shield, ensuring the safety of both healthcare professionals and patients by preventing accidental needlestick injuries.

Global Market for Retractable Needles: Key Trends

.In medical settings, intravenous, intramuscular, and subcutaneous injections are all performed with a one-inch needle. It is a long, somewhat fine needle. Given that the femoral vein is quite near the surface, it could be advantageous for injections into that vein. The needle avoids the possibility of injury or scarring.
.In comparison to clinics and ambulatory surgical centers, hospitals in 2021 generated a higher percentage of income. During the projected period, the sector is anticipated to hold the bulk of the market share. This can be explained by the increased foot traffic, patient admissions, as well as patient treatments at hospitals compared to other institutions.

Lists out all the prominent companies operating in the Retractable needles market. They are as follows:

.Retractable Technologies, Inc.
.Becton, Dickinson and Company
.Numedico Technologies Pty Ltd.
.Retrago

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Key Features of Retractable Needles:

Retractable needle syringes are designed for easy single-handed activation and require less space for disposal compared to traditional safety needles, thus reducing disposal-related needlestick injuries. These safety needles feature a protective sheath that conceals the needle, safeguarding both healthcare professionals and patients from accidental needlestick injuries.

Regional Outlook:

North America: The North American region dominated the global retractable needles market in 2021 and is expected to maintain its lead with a CAGR of 9.0% from 2022 to 2031. This is attributed to robust medical care standards, stringent safety regulations, and technological advancements in healthcare. The region's continuous focus on health research and innovation contributes to market growth.

Europe: Europe also claimed a significant share of the global market in 2021. The growth is driven by increasing technological advancements, rising healthcare spending, and a growing elderly population. The demand for safe and retractable needle products is on the rise due to the need for healthcare and treatment for age-related conditions.

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Market Segmentation:

By Type:
.Manually Retractable Needle
.Automatic Retractable Needle

By End-user:
.Hospitals
.Clinics
.Ambulatory Surgical Centers
.Others

By Needle Length:
.1 inch
.1.5 inch
.Others
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