08-Jan-2020 | Zion Market Research
Zion Market Research has published a new report titled “Needle Destroyer Market by Product (electrical needle burner and needle syringe destroyer) and End user (hospitals, ASC’s, Diagnostic laboratories, HME and DME companies and others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2019 – 2025”.
According to the report, global demand for Needle Destroyer Market was valued at approximately USD 5,015.7 Million in 2018, and is expected to generate revenue of around USD 7,156.8 Million by end of 2025, growing at a CAGR of around 5.38 % between 2018 and 2025.
Browse the full “Needle Destroyer Market: by Product (electrical needle burner and needle syringe destroyer) and End user (hospitals, ASC’s, Diagnostic laboratories, HME and DME companies and others) – Global Industry Perspective Comprehensive Analysis and Forecast, 2019-2025” Report at https://www.zionmarketresearch.com/report/needle-destroyer-market
Needle syringe cutter is an electrical device designed to quickly remove the needles used and cut down the syringe nozzles. It is used in hospitals, nursing homes, schools, laboratories of medicine and laboratories of pathology etc. Many types of needles are used throughout the process, with an estimated seventeen billion injections being purchased worldwide each year, with needles being the largest sharp waste section to be used for Sharps destruction devices. However, according to the Food and Drug Administration (FDA), with special regulation, it is possible to reduce the health risks associated with needle destroyers, making the devices safe and effective. In November 2017, the FDA proposed reclassification of needle destroyer devices from a Class III product to Class II (special controls) and renamed them as "sharp needle destroyer devices."
However, growing concerns about occupational exposure to blood-borne viruses are likely to create opportunities in needle destroyers for market growth. Nevertheless, the lack of observable sensation during the use of certain devices and technological inadequacies such as slow flashback are likely to pose as a market growth constraint. Reusable devices on the needle destroyer market owe a large share of other needle destroyer products and will impact market dynamics with various working factors throughout the forecast period. Because it is a growing market with a limited variety of products, it offers the needle destroyer company a clear opportunity for further new investment.
The market for Needle Destroyer is segmented based on Product, End user and region.
Based on Product, the market is segmented into electrical needle burner and needle syringe destroyer. Throughout the prediction period, the Electrical Needle Burner section will have a significant revenue volume. In just 3 seconds, the tool can be used to remove the various sizes of the already used syringes and needles. This equipment offers a number of advantages including ease of use, light weight and compact nature. The electrical needle destroyer is therefore commonly used in clinics and hospitals to avoid the risk posed by needles, thus facilitating segment development over the expected timeframe.
Based on the End user segment, the market is separated into hospitals, ASC’s, Diagnostic laboratories, HME and DME companies and others. The section of hospitals will show significant growth over the study forecast period due to the increasing implementation of sharp needle destruction devices to provide a safe environment for patients, staff and visitors in these facilities. High growth can be due to the availability of well-equipped and specialized equipment in these facilities. As a result, patients usually favor hospital treatment, thus improving segment development over the coming years.
Regional segmentation consist of the current and forecast demand for Asia Pacific, North America, Latin America, Europe, and Middle East & Africa with its further segmented into major countries. A lucrative market growth is likely to be predicted by the North America needle destroyer market over the forecast period. To reduce the health risks associated with needle such as pathogen transmission, accidental puncture, and blood-borne virus exposure, needle destroyer devices are highly deployed in the U.S. hospital settings. The US FDA also stated that health risks are reduced through the implementation of needle destroyers with special controls, safety and effective practices. Thus, FDA approvals will boost the rising growth of the North America market. Furthermore, rising novel developments by the industry's major players would fuel market growth over the projected timeframe in the North America needle destroyer.
Some of the players included in Needle Destroyer market are Ambler Surgical, Bornemann Maschinenbau GmbH, Black Smith Surgical, Surgipro, Millennium Surgical Corp etc. amongst others.
The report segments global Needle Destroyer market as follows:
Global Needle Destroyer Market: Product Segment Analysis
Global Needle Destroyer Market: End user Segment Analysis
Global Needle Destroyer Market: Regional Segment Analysis
Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, the company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.
Zion Market Research
244 Fifth Avenue, Suite N202
New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll-Free No.1-855-465-4651