According to a new report from Coherent Market Insights, the U.S. safety needles market will be worth $3.48 billion by 2020. Growth in this market is forecasted to be at 4.8% CAGR during the forecast period. Driving factors for this growth are increasing gynecologic cancer prevalence, government initiatives to increase blood collection rates, and favorable reimbursement policies for pen needles
One way to protect health care workers from bloodborne pathogens is to use clean, sterile needles. The new standard is designed to protect health care workers from acquiring blood-borne diseases. OSHA has created several tools to help health care workers prevent blood-borne infections. OSHA is reaching out to employers, health care workers, and the general public to make their workplace safer. These tools and standards are available on the OSHA website.
The latest revision to the California Bloodborne Pathogen Standard requires sharps disposal facilities to meet new requirements. These regulations were first put in place in 1998. Despite these efforts, sharps injuries remain a high risk among health care workers. Though the numbers may be lower than the industry average, or even zero, they remain too high. Ultimately, the intent of Section 144.7 is to lower the risk overall.
As per report published by Coherent Market Insights,U.S. safety needles market is estimated to be valued at US$ 2,447.3 million in 2020 and is expected to exhibit a CAGR of 4.8% during the forecast period (2020-2027).
The U.S. safety needles market is expected to grow over the next few years due to the increasing number of launches of these medical devices. The company ARKRAY USA Inc., specializes in manufacturing cost-effective medical devices and has recently launched a new safety pen needle called Assure ID Safety Pen Needles for diabetic patients. This device helps prevent needlestick injuries and allows healthcare professionals to precisely control the injection process.
Companies involved in the US safety needles market include Becton, Dickinson, Boston Scientific Corporation, Smith Medical, and Terumo Corporation. Other key players include Abbott Laboratories, Boston Scientific Corporation, Novo Nordisk A/S., and Retractable Technologies Inc. Among these, Smith Medical is the largest player. Others include Abbott Laboratories, Cerner Corporation, and Terumo Corporation.