Needles Market Size Worth USD 15.27 Billion in 2032 | Emergen Research

Vancouver, Nov. 22, 2023 (GLOBE NEWSWIRE) -- The global needles market size was USD 6.91 Billion in 2022 and is expected to register a rapid revenue CAGR of 8.7% during the forecast period. Key drivers include the increasing number of hospitals and clinics in emerging countries, a surge in chronic illnesses like cancer and diabetes, and advancements in healthcare systems. The market is witnessing a rise in demand for various needle products, catering to diverse medical needs such as blood collection, dental procedures, and surgical interventions.

The expansion of the healthcare sector, both public and private, especially in developing countries, is a primary driver of market growth. The prevalence of chronic diseases, including cancer and circulatory conditions, underscores the demand for needles. The World Health Organization reports approximately 24 million global deaths annually attributed to chronic diseases, creating awareness about the risks of retractable needles. Additionally, the rising use of syringes globally contributes to market growth. Traditional needle-based methods face challenges from the growing use of needle-free technologies. Regulatory standards, compliance requirements, high production costs, and environmental sustainability concerns related to needle disposal are factors potentially restraining market revenue growth.

Technological advancements have led to the creation of safer, more effective needle products. Safety-engineered devices, such as safety syringes, aim to prevent needle stick injuries, enhancing medical worker safety and increasing syringe demand. Pen needles dominate the market, driven by the rising prevalence of chronic diseases like diabetes. The International Diabetes Federation reports a significant increase in diabetic cases, with pen needles being preferred for insulin administration due to their convenience.

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Suture needles are expected to experience moderate growth due to the rising need for minimally invasive surgical techniques. Safety needles are expected to witness fast growth due to increased awareness of needle stick injuries and legislative efforts promoting their use. Conventional needles, particularly bevel needles, maintain a large market share due to their widespread use and surgeon familiarity. Hypodermic needles hold a significant market share, driven by their versatile applications in various medical procedures. Intravenous needles are expected to see the fastest growth, supported by the increasing number of healthcare providers relying on these instruments for safe and effective patient care.

North America leads the market due to high rates of cardiac diseases, severe illnesses, and surgical procedures. Contracts awarded by the Department of Defense for safety needles and syringes further highlight the region's commitment to healthcare safety.

Europe is expected to witness the fastest revenue growth, driven by increasing diabetes prevalence and favorable reimbursement policies. Developments in the German healthcare system contribute to improved accessibility to treatments.

The Asia Pacific market is poised for significant growth, attributed to rising chronic diseases, advanced medical technologies, and an aging population. Japan is expected to lead the APAC market, benefiting from low production costs and a robust healthcare industry.

The global needles market is thriving, fueled by the expansion of healthcare facilities, technological advancements, and the increasing prevalence of chronic diseases. The market's future growth is anticipated, especially in regions like Europe and the Asia Pacific, where healthcare developments and rising awareness are contributing factors.

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Needles Report Summary

Needles Top Companies and Competitive Landscape

The global needles market is fairly fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective needle market solutions.
Some major players included in the global needle market report are:

• Medtronic
• Thermo Fisher Scientific Inc.
• Novo Nordisk A/S 
• Boston Scientific Corporation
• Illumina, Inc.
• Bio-Rad Laboratories, Inc.
• QIAGEN 
• Abcam plc
• Merck KgaA
• Promega Corporation
• Siemens
• PerkinElmer, Inc.
• Shimadzu Corporation
• Becton, Dickinson and Company (BD)
• Stryker
• Smiths Medical
• Hilgenberg
• Ethicon
• Hamilton Company
• Terumo Corporation

Needles Latest Industry News

• On 5 October 2020, Credence MedSystems partnered with SCHOTT AG to apply Credence Companion technology to SCHOTT's pre-fillable syriQ glass and SCHOTT TOPPAC polymer syringe systems. 

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Needles Market Segment Analysis

For the purpose of this report, Emergen Research has segmented the global needles market on the basis of product, type, application, delivery mode, material, end-use, and region:

• Product Outlook (Revenue, USD Billion; 2019-2032)
  • Suture Needles
  • Blood Collection Needles
  • Ophthalmic Needle
  • Dental Needles
  • Insufflation Needles
  • Pen Needles
    • Standard Needles
    • Safety Needles
  • Biopsy and Aspiration Needles
    • Core Biopsy Needles
    • Vacuum-assisted Biopsy Needles
  • Others
• Type Outlook (Revenue, USD Billion; 2019-2032)
  • Conventional Needles
    •  Bevel Needles
    •  Blunt Fill Needles
    •  Vented Needles
    •  Filter Needles
  • Safety Needles
    • Active Needles
    • Passive Needles
• Application Outlook (Revenue, USD Billion; 2019-2032)
  • Diagnostic Application
  • Therapeutics Application
• Delivery Mode Outlook (Revenue, USD Billion; 2019-2032)
  • Hypodermic Needles
  • Intravenous Needles
  • Intramuscular Needles
  • Intraperitoneal Needles
• Material Outlook (Revenue, USD Billion; 2019-2032)
  • Stainless Steel Needles
  • Plastic Needles
  • Glass Needles
  • PEEK Needles
• End-use Outlook (Revenue, USD Billion; 2019-2032)
  • Hospitals
  • Diagnostic centers
  • Home Healthcare
  • Others
• Regional Outlook (Revenue, USD Billion; 2019–2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. UK
    4. Italy
    5. Spain
    6. Benelux
    7. Russia
    8. Rest of Europe
  • Asia Pacific
    1. China
    2. Japan
    3. India
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of Middle East & Africa

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