Needles Market (By Type: Conventional, Safety; By Product: Pen, Suture, Blood Collection, Dental, Ophthalmic, Others; By Delivery Mode: Hypodermic, Intravenous, Intramuscular, Others; By Raw Material: Stainless Steel, Glass, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026

Category : Healthcare and Pharmaceuticals | Delivery Format : PDF | Status: Published | Pages : 160

Introduction

The global needles market size is anticipated to around USD 10.2 billion by 2026, this market is anticipated to grow 7.5% CAGR during the forecast time period. The industry is primarily driven by supportive government initiatives along with increasing better healthcare equipment, device, medicines and needles.

Market Dynamics

Increasing consciousness about blood donation along with extensive research and development to produce advance needle technology with extreme safety and accuracy is anticipated to support the market growth in the years to come. The conventional needles sub-segment captures the global needle market in 2018, in terms of revenue share.

Growing geriatric population and need for vaccines are among the main growth-driving factors. Increasing occurrence of numerous chronic diseases and growing numeral of hospitals and clinics in developing nations are also expected to expand the development of this market during the coming years.

Market Insights

Based on product, the market is segmented into pen, suture, blood collection, dental, and ophthalmic needles. Pen needles led the market in 2017 due to factors, such as growing prevalence of diabetes. The segment is also expected to witness the fastest growth over the forecast period. Insulin pen needles are available in a variety of lengths and widths. Conventional pen needles were long and sharp; however, due to advanced technology, small, thin, and pain-free needles are commonly available worldwide.

The safety needles segment is anticipated to observer the fastest CAGR during the forthcoming years owing to decreased risk of needle stick injuries. Also, blood collection needles segment captures a substantial share of the global market in 2018 owing to growing consciousness about blood donation and stringent protocols on blood screening. Such as, tests, Nucleic Acid Amplification Test (NAT) and ELISA, are compulsory in European nations including Germany, France, Italy, Spain, Switzerland, and U.K. Hypodermic segment captures the largest global needles market in 2018. This development is credited to increasing cases of chronic illnesses, for instance, diabetes, and arrival of needles that are friendly with high-power injectable technology and can withstand high pressure.

Market Segmentation

Market By Type

  • Conventional
  • Safety

By Product

  • Pen
  • Suture
  • Blood Collection
  • Dental
  • Ophthalmic
  • Others

Market By Delivery Mode

  • Hypodermic
  • Intravenous
  • Intramuscular
  • Others

Market By Raw Material

  • Stainless Steel
  • Glass
  • Others

Market By Geography

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Australia
    • Rest of Asia-Pacific
  • Latin America
    • Brazil
    • Chile
    • Rest of Latin America
  • Middle East and Africa (MEA)
    • South Africa
    • Saudi Arabia
    • Rest of MEA

Regional Insights

Europe drove the general market as far as revenue share in 2018. Continually enhancing social insurance foundation in the area is in charge of the market development. In addition, developing populace is adding to the market extension. The Asia Pacific district, then again, is probably going to witness the quickest CAGR over the forthcoming years.

Developing target populace, medicinal services use, and mindfulness about blood donation are some of the key points driving the Asia Pacific market. Nearness of conspicuous organizations, for example, Garter Mechanical Engineering Co., Ltd.(Taiwan), Meditech Devices Pvt. Ltd (India), Nanjing Joyful Industrial Co., Ltd (China) and Neotec Medical Industries Pte. Ltd. (Singapore), in the locale is likewise liable to help market growth.

Market Participants

Market companies are concentrating on implementing new strategies for instance regional expansion, partnerships, mergers and acquisitions, new product launches, and distribution agreements to surge their revenue share. The major players associated with theneedles areareStryker Corp.; Dickinson and Company; Hilgenberg GmbH; Medtronic PLC; Smiths Medical, Inc.; Becton, Ethicon, Inc.; Thermo Fisher Scientific, Inc.; Novo Nordisk A/S; and Boston Scientific Corporation.


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