DUBLIN–(BUSINESS WIRE)–The “Needles Market by Type (Conventional (Bevel, Vented) & Safety), Product (Suture, Blood Collection, Insufflation), Material (Stainless Steel, Plastic), Delivery Mode (IV, IM, Hypodermic), End-User (Hospitals, Diagnostic Centres) – Global Forecast to 2027” report has been added to ResearchAndMarkets.com’s offering.
The global Needles Market size is projected to reach USD 10.6 billion by 2027 from USD 7.7 billion in 2022, at a CAGR of 6.7% during the forecast period. Market is driven by factors such as Increasing incidence of accidents, trauma cases and the rising number of hospitals in emerging markets. On the other hand, the Risk of infections associated with the use of aspiration and biopsy needles is expected to limit market growth to a certain extent in the coming years.
The Bevel Needles accounted for the largest market share in the Conventional Needle Market, during the forecast period.
The Conventional Needle Market is segmented into Bevel Needles, Blunt Fill Needles, Vented Needles, and Filter Needles. In 2021, Bevel Needles accounted for a sizable market share because most of the market players are focusing on the development of needles with bevel technology for several dental applications.
The active Needles segment accounted for the largest market share.
Based on type, the safety Needles market is segmented into Active Needles and Passive Needles. The Active Needle segment accounted for the largest market share in 2021 due to their advantages., as these needles provide better penetration through the tissue interface and help reduce pain and tissue trauma. Moreover, it also reduces tip deflection at deep locations and enhance the visibility of the tip at difficult angles.
APAC region accounted for the highest CAGR.
The global needles market is divided into four regions: North America, Asia-Pacific, Europe, and the Rest of the World. According to the regional analysis, the Asia-Pacific region is likely to retain a significant market share in 2021 and the future. The Asia-Pacific market is being propelled by an increase in the geriatric population, increasing healthcare expenditure, and a growing number of road accidents. North America, on the other hand, will experience significant growth in the coming years due to increasing incidences of chronic diseases. Increasing prevalence of cardiovascular diseases, increasing surgical procedures.
Market Dynamics
Drivers
High Prevalence of Chronic Diseases
Growing Geriatric Population
Rising Number of Accidents and Trauma Cases
Increasing Number of Hospitals in Emerging Markets
Increasing Preference for Minimally Invasive Biopsies
Increasing Demand for Vaccines
Restraints
Rising Incidence of Needlestick Injuries and Infections
Risk of Infections Associated with Use of Aspiration and Biopsy Needles
Opportunities
Expanding Injectables Market
Rise in Self-Administration of Drugs
Rising Use of Safety Needles
Emerging Markets
Challenges
Use of Needle-Free Injection Technology
Growing Focus on Development of Alternative Drug Delivery Methods
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Needles Market, by Product
7 Needles Market, by Delivery Mode
8 Needles Market, by Type
9 Needles Market, by Material
10 Needles Market, by Application
11 Needles Market, by End-user
12 Needles Market, by Region
13 Competitive Landscape
14 Company Profiles
15 Appendix
Companies Mentioned
Argon Medical Devices Inc.
B. Braun Melsungen
Becton, Dickinson and Company
Boston Scientific Corporation
Creganna
DTR Medical
Ethicon (Subsidiary of Johnson & Johnson)
Greiner Holding Ag
Hakko Co., Ltd.
Hamilton Company
Medtronic plc
Merck KGaA
Merit Medical Systems
Nipro Corporation
Olympus Corporation
Rocket Medical plc
Smiths Medical (Now Icu Medical)
Stryker
Terumo Corporation
Ultimed, Inc.
Unimed Sa
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