The rising incidences of sharp injuries across the globe is a leading factor that is expected to fuel the demand for sharp safety devices

Market.US announces the publication of its most recently generated research report titled, “Global Sharps Safety Market by Product Type (Injection Equipment, Blood Collection Equipment, IV Insertion Equipment, Safety Lancets, Safety Scalpels & Safety Suture Products), By Technology (Retractable Safety & Passive Safety), End-Use (Hospital, Specialty Clinics, Ambulatory Surgical Centers, Home Care Settings & Other End-Uses), and by Region – Global Forecast to 2031.”, which offers a holistic view of the global sharps safety market through systematic segmentation that covers every aspect of the target market.

The Global Sharp Safety Market is projected to be US$ 23,819.6 Mn in 2020 to reach US$ 53,040.4 Mn by 2031 at a CAGR of 8.0%.

Needles, scalpels, razor blades, scissors, metal wires, retractors, clamps, pins, staples, cutters, lancets, and other devices used to cut or pierce skin, blood vessels, or tissue are examples of “sharp instruments.” Sharps injuries are one of the most commonly reported injuries in research and clinical settings. Several health practitioners believe that little cuts are innocuous and of no significance. However, these injuries pose serious hidden health dangers to hospital doctors and nurses.

Sharp injuries are most commonly connected with infectious disorders, particularly blood-borne viruses like AIDS (Acquired Immune Deficiency Syndrome), hepatitis B, and hepatitis C. Sharp instruments, according to various healthcare rules, are medical objects used to perform specified healthcare activities such as creating cuts and pricks.

However, if a sharp is contaminated with infected blood or body fluids, the healthcare practitioner, i.e., the users of these instruments, are at high risk of harm and/or infection.

The increased instances of sharp injuries around the world are a driving force that is predicted to fuel demand for sharp safety equipment. Healthcare workers are at risk of occupational exposure to blood-borne infections such as Hepatitis B Virus (HBV), Hepatitis C Virus (HCV), and Human Immunodeficiency Virus (HIV). These aforementioned illnesses can be avoided with the use of sharp safety devices, and this factor is predicted to fuel the revenue growth of this industry throughout the forecast period.

Ongoing technological developments for sharp safety devices, such as the development of retractable needles with shields aimed at reducing the risk of occupational injuries and the apparent risk of pathogen transmission, are also factors that are expected to supplement an expected increase in sales for this target market.

Global Sharps Safety Market Revenue (US$ Mn), 2020–2031

The availability of various medical sharp device alternatives, such as hypodermic needles, IV cannulas, blood collection systems, sutures, scalpels, sharps disposal systems, and so on, is predicted to slow the financial trajectory of this market in the next years.

Sharp safety devices are in high demand due to the increased worry over occupational exposure to blood-borne viruses. Increasing awareness of the necessity of sharps safety, particularly in developing countries such as India and China, is projected to provide new potential revenue growth prospects for this business.

Global Sharps Safety Market Attractiveness Analysis by Product Type, 2015–2031

The global sharps safety market is segmented accordingly – by product type, technology, end-user, and by region. With respect to the product type segmentation aspect of this market, the injection equipment sub-segment is anticipated to register the highest rate of revenue growth over the forecast period. Concerning the technology market segmentation aspect, the retractable safety technology sub-segment is expected to account for a major revenue share, followed by the passive safety technology sub-segment.

With respect to the end-use market segmentation, the hospitals sub-segment is anticipated to register the highest CAGR over the forecast period. In terms of regional market segmentation, the markets in North America are anticipated to continue to account for the majority revenue share of the global sharps safety industry.

The research report on the global sharps safety market includes profiles of some of the major companies such as Cardinal Health Inc., Medtronic PLC, Becton, Dickinson & Co, B. Braun Melsungen Aktiengesellschaft, Terumo Corp., Smiths Group PLC (Smith’s Medical, Inc.), Ansell Ltd., DeRoyal Industries, Inc., HTL-STREFA S.A., UltiMed, Inc, etc.

Global Sharp Safety Market is Segmented on the Basis of Product Type, Technology, End-Use, and Region

Based on Product Type

• Injection Equipment
• Blood Collection Equipment
• IV Insertion Equipment
• Safety Lancets
• Safety Scalpels
• Others (Safety Suture Products)

Based on Technology

• Retractable Safety
• Passive Safety

Based on End-Use

• Hospitals
• Specialty Clinics
• Ambulatory Surgical Centers
• Home Care Settings
• Other End-Uses

Based on Key Players

• Cardinal Health Inc.
• Medtronic PLC
• Becton
• Dickinson & Co
• B. Braun Melsungen Aktiengesellschaft
• Terumo Corp.
• Smiths Group PLC (Smith’s Medical Inc.)
• Ansell Ltd.
• DeRoyal Industries Inc.
• HTL-STREFA S.A.
• UltiMed Inc
• etc

Based on Region

• North America
• Europe
• Asia-Pacific
• South America
• Middle-East and Africa

For the Sharp Safety Market research study, the following years have been considered to estimate the market size: