Needles Market: Global Industry Analysis and Forecast (2023-2029)

Needles Market size was valued at US$ 7.07 Bn. in 2022 and the market is expected to reach US$ 12.6 Bn. by 2029, at a CAGR of 8.6% through out the forecast period.

Needles Market Overview:

The Needles are used for many purposes, including: For blood treatment, dental procedures, and surgical procedures. It fits the syringe part and is divided into three sections: long shaft, slope, and center. In clinical practice, different types of needles are often used for different purposes. Drug delivery, aesthetic procedures, and various surgical procedures within different skin layers. There are different types of needles. Traditional needles are used for general drug delivery, and filling and filtering needles are used for vaccination and other sterile products. In contrast, safety pins are used to draw blood and prevent infection due to contamination during drug administration. It also depends on the area of the application. For example, a pen needle is used by diabetics to inject a daily dose of insulin. Blood sampling needles are used for diagnostic purposes and suture needles are used for surgical purposes.Needles MarketTo know about the Research Methodology :- Request Free Sample Report

Needles Market Dynamics:

Increased injectable drug adoption, increased demand for vaccines, increased medical costs, and increased demand for hormone supplements are major drivers of growth in the needle market. Due to the benefits of injectable over tablet formulations, companies are focusing on developing injectable delivery systems, including syringes and needles. The growing aging population and the demand for vaccines are one of the major growth drivers. The increasing prevalence of various chronic diseases and increasing numbers of hospitals and clinics in emerging countries is also contributing to the market growth. The emergence of needle technology reduces the level of pain and anxiety experienced during injections. Specific treatment regimens are associated with pain and anxiety, where various psychological and physical factors activate pain receptors in the brain. The use of needles for donations and blood tests has increased. The demand for blood and blood products is high due to the increasing number of cases of complex surgery that requires large amounts of these products, such as chemotherapy, heart surgery, and organ transplants. Increasing demand for point-of-care diagnostic products is driving demand for needles around the world. The increasing demand for self-injection needles and the use of safety pins offer players in the needle industry an opportunity. Self-injections are very useful in emergencies such as allergies. Chronic diseases such as diabetes and rheumatoid arthritis. The high risk of infections associated with drug delivery via needles is restraining the market growth of needles. Market trends and challenges are analyzed and compiled in the report. The data of 2022 is considered for a better understanding of the client. Moreover, Analytics of the market is based on real numbers of past years from 2018 to 2022 with market forecast until 2029.

Needles Market Segment Analysis:

By Type, Safety Needles dominated the market with a 57.2% share in 2022. Reduced risk of needle stick injuries offered by these products. Such damage can lead to infection with blood-borne pathogens such as HIV and hepatitis B and C viruses. Safety needles reduce the incidence of infections, reduce costs, and increase convenience and practicality of use. NMT-type safety syringes activate automatic withdrawal technology when the plunger is pressed to inject the drug. Factors such as accuracy, operating time, and design for rapid use were beneficial because the majority of healthcare professionals preferred safety needles technology over conventional. By Product, Pen Needles dominated the market with a 36 .3% share in 2022. The increasing prevalence of diabetes and Insulin pen needles are available in a variety of lengths and widths. With advanced technology, small, thin, painless needles are widely available around the world. These factors are driving the growth of the segment through the forecast period. By Mode, the Hypodermics segment dominated the market with a 35.3 % share in 2022. Increase in chronic diseases such as diabetes and the emergence of needles that are compatible with high-performance injection technology and can withstand high pressures. These factors are driving the growth of the segment in the market. The intravenous segment is expected to grow at a CAGR of 3.4% through the forecast period. The IV needle is hollow and attached to an IV syringe to inject and extract samples. Reduces contamination when inoculating sterile substrates. These factors are expected to drive the growth of the segment through the forecast period.

Regional Insights:

Europe dominated the market with a 38.3% share in 2022. The constant improvement of the local health infrastructure and increase in population. Factors such as the availability of safety pins, the active participation of market participants, and the increased acceptance of safety pins. Factors such as infrastructure development and population growth are also contributing to the growth of the needle market. Government initiatives and the promotion of investment funding to develop health standards. These factors are driving the market growth through the forecast period. Asia Pacific region dominated the market with a CAGR of 4.6% through the forecast period. Awareness of increased audiences, health care costs, and blood donations are some of the main drivers of the market in this region. Presence of prominent companies, such as Garter Mechanical Engineering Co., Ltd. (Taiwan), Meditech Devices Pvt. Ltd (India), etc. in the region is also likely to boost market development. The objective of the report is to present a comprehensive analysis of the market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the market dynamics, structure by analyzing the market segments and project the market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the market make the report investor’s guide.

Needles Market Scope: Inquiry Before Buying

Needles Market
Report Coverage Details
Base Year: 2022 Forecast Period: 2023-2029
Historical Data: 2018 to 2022 Market Size in 2022: US $ 7.07 Bn.
Forecast Period 2023 to 2029 CAGR: 8.6% Market Size in 2029: US $ 12.6 Bn.
Segments Covered: by Type Conventional Safety
by Product Pen Suture Blood Collection Others
by Mode Hypodermic Intravenous Intramuscular Others

Needles Market, by Region

Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) North America (United States, Canada and Mexico) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)

Key Players

1. Becton 2. Dickinson & Company 3. Medtronic plc 4. Hamilton Company 5. Stryker Corporation 6. Terumo Corporation 7. B. Braun Melsungen AG 8. Boston Scientific Corporation 9. Nipro Medical Corporation 10. Novo Nordisk A/s 11. Thermo Fisher Scientific 12. Smith’s Medical 13. Hilgenberg GmbH 14. BD 15. Novo Nordisk A/S 16. YPSOMED 17. Owen Mumford 18. HTL-STREFA S.A. 19. B. Braun Melsungen AG 20. ulti med Products (Deutschland) GmbH 21. Allison Medical Inc. 22. Artsana S.p.A. 23. Abbott 24. CONMED Corporation 25. Johnson & Johnson Services, Inc. 26. Retractable Technologies, Inc. 27. Olympus Corporation FAQ: 1] What segments are covered in the Needles Market report? Ans. The segments covered in the Needles Market report are based on Type, Product, and mode. 2] Which region is expected to hold the highest share in the Needles Market? Ans. Asia Pacific Region is expected to hold the highest share in the Needles Market. 3] What is the market size of Needles Market by 2029? Ans. The market size of Needles Market by 2029 is US $ 12.6 Bn. 4] Who are the top key players in the Needles Market? Ans. Becton, Dickinson & Company, Medtronic plc, Hamilton Company, Stryker Corporation, Terumo Corporation, B. Braun Melsungen AG, Boston Scientific Corporation, Nipro Medical Corporation, Novo Nordisk A/s, Thermo Fisher Scientific, Smith’s Medical, Hilgenberg GmbH, BD, Novo Nordisk A/S, YPSOMED, Owen Mumford, HTL-STREFA S.A., B. Braun Melsungen AG, ulti med Products (Deutschland) GmbH, Allison Medical Inc., Artsana S.p.A., Abbott, CONMED Corporation, Johnson & Johnson Services, Inc., Retractable Technologies, Inc., Olympus Corporation. 5] What was the market size of Needles Market in 2022? Ans. The market size of Needles Market in 2022 was US $ 7.07 Bn.
1. Global Needles Market: Research Methodology 2. Global Needles Market: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Needles Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Needles Market: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12. COVID-19 Impact 4. Global Needles Market Segmentation 4.1. Global Needles Market, by Type (2022-2029) • Conventional • Safety 4.2. Release liner Global Needles Market, by Product (2022-2029) • Pen • Suture • Blood Collection • Others 4.3. Global Needles Market, by Mode (2022-2029) • Hypodermic • Intravenous • Intramuscular • Others 5. North America Needles Market(2022-2029) 5.1. Global Needles Market, by Type (2022-2029) • Conventional • Safety 5.2. Global Needles Market, by Product (2022-2029) • Pen • Suture • Blood Collection • Others 5.3. Global Needles Market, by Mode (2022-2029) • Hypodermic • Intravenous • Intramuscular • Others 5.4. North America Needles Market, by Country (2022-2029) • United States • Canada • Mexico 6. European Needles Market (2022-2029) 6.1. European Needles Market, by Type (2022-2029) 6.2. European Needles Market, by Product (2022-2029) 6.3. European Needles Market, by Mode (2022-2029) 6.4. European Needles Market, by Country (2022-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Needles Market (2022-2029) 7.1. Asia Pacific Needles Market, by Type (2022-2029) 7.2. Asia Pacific Needles Market, by Product (2022-2029) 7.3. Asia Pacific Needles Market, by Mode (2022-2029) 7.4. Asia Pacific Needles Market, by Country (2022-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Needles Market (2022-2029) 8.1. Middle East and Africa Needles Market, by Type (2022-2029) 8.2. Middle East and Africa Needles Market, by Product (2022-2029) 8.3. Middle East and Africa Needles Market, by Mode (2022-2029) 8.4. Middle East and Africa Needles Market, by Country (2022-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. Latin America Needles Market (2022-2029) 9.1. Latin America Needles Market, by Type (2022-2029) 9.2. Latin America Needles Market, by Product (2022-2029) 9.3. Latin America Needles Market, by Mode (2022-2029) 9.4. Latin America Needles Market, by Country (2022-2029) • Brazil • Argentina • Rest Of Latin America 10. Company Profile: Key players 10.1. Becton 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Dickinson & Company 10.3. Medtronic plc 10.4. Hamilton Company 10.5. Stryker Corporation 10.6. Terumo Corporation 10.7. B. Braun Melsungen AG 10.8. Boston Scientific Corporation 10.9. Nipro Medical Corporation 10.10. Novo Nordisk A/s 10.11. Thermo Fisher Scientific 10.12. Smith’s Medical 10.13. Hilgenberg GmbH 10.14. BD 10.15. Novo Nordisk A/S 10.16. YPSOMED 10.17. Owen Mumford 10.18. HTL-STREFA S.A. 10.19. B. Braun Melsungen AG 10.20. ulti med Products (Deutschland) GmbH 10.21. Allison Medical Inc. 10.22. Artsana S.p.A. 10.23. Abbott 10.24. CONMED Corporation 10.25. Johnson & Johnson Services, Inc. 10.26. Retractable Technologies, Inc. 10.27. Olympus Corporation
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