Needle Market - Trends Forecast Till 2028

Market Overview

The global needle market is anticipated to reach USD 9.24 billion by 2020 growing at a CAGR of 6.2% during the forecasting period, 2020-2028. Needles are one of the medical tools which are used to put liquid, such as medicines, into the body or to remove a liquid, such as blood, from the body.  It has various types like pen needles, suture needles, blood collection needles, dental needles, insufflations needles, and ophthalmic needles. Factors such as the increasing geriatric population and demand for vaccines are some of the major drivers for the needle market

Key Findings

The global needle market is segmented into type, product, delivery mode, material, end-user, and geography.

The type segment is segmented into Conventional Needles, Safety Needles. Conventional needles are further segmented into Bevel Needles, Blunt Fill Needles, Vented Needles, Filter Needles. Safety Needles is further segmented into Active Needles and Passive Needles.

The product segment is segmented into Pen Needles, Suture Needles, Blood Collection Needles, Dental Needles, Insufflations Needles, Ophthalmic Needles, and Others

Delivery Mode segment is segmented into Hypodermic, Intravenous, Intramuscular, Others

The material segment is segmented into Glass Needles, Plastic Needles, Stainless Steel/Metallic Needles and Polyetheretherketone (PEEK) Needles

The end-User segment is segmented into Hospitals, Diagnostic Centers, and Diagnostic Centers

Geographically, the global needle market is sub-segmented into North America, Europe, Asia-Pacific, Middle East and Africa and South America and insights are provided for each region and major countries within the regions 

Regional Analysis

North America region is the largest contributor to the needle market in the forecast period 2020-2028 and the Asia-Pacific region is expected to grow with the highest CAGR during the forecast period 2020-2028.

Competitive Landscape

Key players in the global needle market are Medtronic PLC, Thermo Fisher Scientific Inc., Boston Scientific Corporation, Cook Medical, Ethicon Us, LLC, Novo Nordisk A/S, Becton, Dickinson And Company, Stryker Corporation, Olympus Corporation, B. Braun Melsungen AG, Terumo Corporation, Nipro Corporation, Ypsomed Holding, Integra Lifesciences Corporation, Argon Medical Devices, Inc., Galil Medical Inc, Allison Medical, Inc., Hamilton Company, Precision Medical Products, Inc., Unimed Sa, Smiths Medical, Sigma-Aldrich, Aspen Surgical, A. Menarini Diagnostics, Vita Needle Company and among others

Recent Developments

The companies have come up with various promotional activities in from of launch, investment, acquisition, and other, for instance:

• In 2019, Thermo Fisher Scientific Inc has announced to acquire Brammer Bio, a leader in viral vector manufacturing for gene and cell therapies.
• In 2019, B. Braun Medical Inc. has announced the launch of Heparin Sodium Injection, USP - the first Heparin 5,000 USP Unit / 0.5 mL prefilled syringe with attached safety needle for subcutaneous and intravenous use in the United States

Hence, tremendous progress has been made over the last decade and yet a lot more to come in recent years.

Reasons to Acquire

• Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors
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Report Scope