Insulin syringes are usually sold in combination with attached needles, so the total needle market is growing at a faster rate than the total syringe market.
Vancouver, BC (PRWEB) April 10, 2015
According to a published report by iData Research (http://www.idataresearch.com), the U.S. syringe and needle market is expected to increase in value, driven by the increasing use of all types of safety needles. The market is transitioning to almost completely comprise safety devices. The syringe market, however, is projected to decrease due to declines in insulin syringe sales.
“Sales of insulin syringes will decrease as the trend towards insulin pen needles continues. However, we’re seeing growth driven in the overall U.S. needle market from the pivoting needle and insulin pen needle segments,” explains Dr. Kamran Zamanian, CEO of iData. “Insulin syringes are usually sold in combination with attached needles, so the total needle market is growing at a faster rate than the total syringe market.”
Other key findings from the iData Research report entitled U.S. Market for Vascular Access Devices and Accessories:
Conversion to Safety Products
The shift to safety devices for many vascular access products is due to regulations requiring that safety devices be used whenever possible, to prevent needlestick injuries and the transmission of blood-borne pathogens. Safety products carry a significant price premium compared to conventional products. Ongoing conversion will boost future growth. However, the premium price of safety devices will most likely lead to decreases in the price of non-safety devices.
Becton Dickinson has the largest share of the overall vascular access device and accessories market, owing to its dominance of the syringe and needle markets, as well as in the peripheral intravenous catheter market. No U.S. competitor in the syringe and needle market is close to challenging Beckton Dickinson’s commanding lead.
Becton Dickinson owes its market dominance to producing billions of syringes, and taking advantage of economies of scale to produce and sell syringes at a lower cost than many of its competitors. The company’s established sales, manufacturing and distribution networks allow it to sell high-volume items at prices that are difficult for competitors to match. Many of Beckton Dickinson’s products are purchased by hospitals, through group purchasing organizations.
Other notable competitors in the U.S. syringe and needle market include Covidien, Terumo Medical, Smiths Medical, Retractable Technologies Inc., and Abbott Laboratories.
For Further Information
More on the syringe and needle market in the U.S. can be found in the report published by iData entitled U.S. Market for Vascular Access Devices and Accessories. This report also covers the U.S. market segments for implantable ports, port needles, central venous catheters, peripherally inserted catheters, peripheral intravenous catheters, dialysis catheters, ultrasound vascular access devices and accessories, and catheter securement devices.
The full iData series on the market for vascular access devices and accessories covers the U.S., Brazil, China, India, Japan, South Korea, Australia, and 15 countries in Europe. Full reports provide a comprehensive analysis including units sold, procedure numbers, market value, forecasts, as well as detailed competitive market shares and analysis of major players’ success strategies in each market and segment.
Register online or email us at info(at)idataresearch(dot)net for a U.S. Market for Vascular Access Devices and Accessories report brochure and synopsis.
About iData Research
iData Research (http://www.idataresearch.com) is an international market research and consulting group focused on providing market intelligence for medical device and pharmaceutical companies. iData covers research in: Diabetes Drugs, Diabetes Devices, Pharmaceuticals, Anesthesiology, Wound Management, Orthopedics, Cardiovascular, Ophthalmics, Endoscopy, Gynecology, Urology and more.