Needle Destroyer Market Size was valued at USD 6.2 Bn in 2023 and is predicted to reach USD 9.1 Bn by 2031 at a 5.1% CAGR during the forecast period for 2024-2031.
Needle destroyers exist to provide a safe way to properly dispose of syringes and hypodermic needles, to eliminate the possibility of infection and unintentional needle sticks. A growing number of people are living with chronic conditions that require regular medical treatments. This is driving up the demand for needle destroyers and the need for ways to dispose of them. Global regulatory agencies have enacted strict standards and rules for medical waste management, which is driving the industry forward. Needle destroyer devices have become more popular in hospitals, clinics, and labs due to technological improvements such as safety features, easy-to-use interfaces, and mobility. Additionally, market penetration has been enhanced by healthcare professionals' and institutions' increasing awareness of the significance of safe needle destroyers.
However, the market growth is hampered by smaller healthcare facilities, and the high costs of advanced needle destroyers may discourage adoption. Furthermore, there needs to be more knowledge on proper needle destroyers. With the advent of COVID-19, the healthcare sector was hit hard. Also severely impacted was the market for needle destroyers. The authorities-imposed lockdowns and social isolation to contain the COVID-19 outbreak. These measures had unintended consequences, including the suspension of numerous manufacturing operations, interruptions in the supply chain, a dampening of company expansion, and the cancellation of technological treatments. Another factor driving the adoption of needle destroyer devices is the strict rules and restrictions imposed on medical waste management by regulatory agencies and healthcare authorities.
Competitive Landscape
Some of the Major Key Players in the Needle Destroyer Market are
- Millennium Surgical Corp
- Cecon Pollutech Systems Pvt. Ltd.
- Cosmo Scientific Traders
- Bornemann Maschinenbau GmbH
- GPC Medical Ltd.
- Amkay Products Limited
- Invitro Biotech Ltd.
- Medtronic plc
- Abraham Blacksmith
- Surgipro Inc.
Market Segmentation:
The needle destroyer market is segmented based on type, distribution channel, and end-user. Based on type, the market is segmented into electrical needle burners and needle syringe destroyers. By distribution channel, the market is segmented into direct sales, distributors/suppliers, and online. By end-user, the market is segmented into hospitals and clinics, ambulatory care centers, and others.
Based on the Type, the Electrical Needle Burner Segment is Accounted as a Major Contributor to the Needle Destroyer Market
The electrical needle burner in the needle destroyer market is expected to hold a major global market share in 2023 because, when used properly, electrical needle burners can completely eliminate needles by incinerating them at high temperatures, rendering them harmless and guaranteeing their eradication. This ensures that healthcare facilities adhere to both national and international regulations for the disposal of medical waste. Globally, healthcare facilities are increasingly utilizing electrical needle burners due to the growing concern for the proper disposal of medical waste.
Hospital & Clinics Segment to Witness Growth at a Rapid Rate
The hospital & clinic industry makes up the bulk of needle destroyers because needles and sharps are among the many types of medical waste that hospitals and clinics produce daily. Reducing the occurrence of needle sticks and the spread of infectious diseases among healthcare personnel and patients emphasizes the critical importance of properly disposing of these medical waste items. In hospital & clinic facilities, needle destroyer machines are essential because they provide a dependable method for the efficient and timely disposal of used needles. In addition, some strict rules and regulations control healthcare facilities' methods for disposing of medical waste.
In the Region, the North American Needle Destroyer Market Holds a Significant Revenue Share
The North American needle destroyer market is expected to register the highest market share in revenue in the near future. It can be attributed to the need for needle destroyers being propelled by the stringent rules regarding the disposal of medical waste, the advanced healthcare infrastructure, and the paramount importance placed on the safety of healthcare workers and infection control in North America. In addition, Asia Pacific is projected to grow rapidly in the global needle destroyer market due to the rise in the prevalence of long-term health problems, the high cost of healthcare, the adoption of new medical technology, and a more advantageous reimbursement position for needle destroyers in the region.
Recent Developments:
- In January 2024, Sehgal Path Lab and BD Life Sciences-Biosciences, a division of BD (Becton, Dickinson, and Company), have just opened a flow cytometry center of excellence in Mumbai, India, for use in clinical trials.
- In February 2024, U.S. Surgitech acquired a three-year contract with Premier, Inc. The deal highlighted U.S. Surgitech's SurgyCut and SurgyNeedle product lines. SurgicalNeedle, a single-use aspiration needle with a range of gauges, solved problems that persisted for a long time with reusable aspiration needles.
Needle Destroyer Market Report Scope:
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 6.2 Bn |
|
Revenue Forecast In 2031 |
USD 9.1 Bn |
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Growth Rate CAGR |
CAGR of 5.1% from 2024 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Type, By Distribution Channel, By End-User and By Region |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; Southeast Asia; South Korea |
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Competitive Landscape |
Millennium Surgical Corp, Cecon Pollutech Systems Pvt. Ltd., Cosmo Scientific Traders, Bornemann Maschinenbau GmbH, GPC Medical Ltd., Amkay Products Limited, Invitro Biotech Ltd., Medtronic plc, Abraham Blacksmith, and Surgipro Inc. |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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