Global Needles Market, By Type (Conventional Needles, Safety Needles), Product (Suture Needles, Blood Collection Needles, Ophthalmic Needles, Dental Needles, Insufflation Needles, Pen Needles, Other Needles), Delivery Mode (Hypodermic Needles, Intravenous Needles, Intramuscular Needles, Intraperitoneal Needles), Material (Glass Needles, Plastic Needles, Stainless Steel Needles, Polyether Ether Ketone Needles), Distribution Channel (Direct Tenders, Retail), End User (Hospitals and Diagnostic Centers, Home Healthcare, Others) – Industry Trends and Forecast to 2031.
Needles Market Analysis and Size
Data Bridge Market Research analyzes that the global needles market which was USD 8,390.13 million in 2023, is likely to reach up to USD 15,819.48 million by 2031, and is expected to undergo a CAGR of 8.25% during the forecast period. “Hospitals and diagnostic centers” dominate the application segment of the market due to the increasing number of hospitals in the developing regions. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, and Pricing in USD
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Segments Covered
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By Type (Conventional Needles, Safety Needles), Product (Suture Needles, Blood Collection Needles, Ophthalmic Needles, Dental Needles, Insufflation Needles, Pen Needles, Other Needles), Delivery Mode (Hypodermic Needles, Intravenous Needles, Intramuscular Needles, Intraperitoneal Needles), Material (Glass Needles, Plastic Needles, Stainless Steel Needles, Polyether Ether Ketone Needles), Distribution Channel (Direct Tenders, Retail), End User (Hospitals and Diagnostic Centers, Home Healthcare, Others)
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Countries Covered
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U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, U.A.E., Egypt, Israel, Rest of Middle East & Africa
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Market Players Covered
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Medtronic (Ireland), Ethicon US, LLC. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Novo Nordisk A/S (Denmark), BD (U.S.), Stryker (U.S.), Boston Scientific Corporation (U.S.), Luminex Corporation (U.S.), Illumina, Inc (U.S.), Bio-Rad Laboratories, Inc. (U.S.), QIAGEN (Netherlands), Abcam plc (U.K.), Merck KGaA (Germany), Promega Corporation (U.S.), Siemens (Germany), PerkinElmer, Inc. (U.S.), Shimadzu Corporation (Japan)
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Market Opportunities
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Market Definition
Needles are the injectable devices that are used with injections to provide medications to the body. They are also used to collect the samples and inject various pharmaceutical drugs into the body and are adjusted in the syringes.
Global Needles Market Dynamics
Drivers
- Rising prevalence of cancer
Surging incidence rate of cancer all around the globe is carving the way for the growth of the market. Also, increasing number of other chronic and acute diseases has further induced growth in the market demand and supply. Rising number of diseases in pets is yet again another market determinant.
- Research and development proficiencies
Rising expenditure for research and development proficiencies especially in the developed and developing economies pertaining to the medical instruments and devices will further create lucrative market growth opportunities. Research and development proficiencies being conducted for the integration of advanced technologies in the healthcare facilities and on the detection of infectious diseases is also bolstering the market growth rate.
- Government investments on healthcare infrastructure
The increase in the funding by the federal government is set to drive the market growth rate. Moreover, growth and expansion of healthcare industry being driven by both public and private players especially in the developing economies will create lucrative market growth opportunities. Also, high return on investments assured by the research activities will also work in the favour of the market.
Opportunities
- Increasing healthcare expenditure
The global healthcare expenditure is on the rise, driven by factors such as population growth, aging demographics, and the increasing prevalence of chronic diseases. This increased spending on healthcare facilities and services is expected to drive the demand for needles across various healthcare settings, including hospitals, clinics, and diagnostic centers.
- Growing demand for injectable drugs
The demand for injectable drugs is increasing globally, driven by factors such as the rising prevalence of chronic diseases, the need for targeted therapies, and the growing geriatric population. Needles are an essential component of injectable drug delivery systems, and the increasing demand for injectable drugs is expected to drive the demand for needles.
Restraints/Challenges
- Stringent regulatory requirements and quality standards
The global needles market is subject to strict regulatory requirements and quality standards imposed by regulatory bodies such as the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA). Meeting these stringent regulations can be a significant restraint for market players. Compliance with these requirements involves extensive testing, documentation, and adherence to quality management systems, which can increase the time and cost of bringing new needle products to market.
- Increasing competition and pricing pressure
The global needles market is highly competitive, with numerous manufacturers and suppliers vying for market share. This intense competition can lead to pricing pressure as companies strive to offer competitive prices to attract customers. Additionally, the presence of low-cost manufacturers in certain regions can further intensify price competition. This challenge requires companies to focus on cost optimization, differentiation, and innovation to maintain profitability and market share amidst increasing competition.
This needles market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the needles market contact Data Bridge Market Research for an analyst brief, our team will help you make an informed market decision to achieve market growth.
Recent Developments
- In May 2022, Roche Diabetes Care India (RDC India) introduced Accu-Fine, a line of high-quality pen needles designed to enhance the insulin delivery experience for individuals with diabetes. This new offering from Roche Diabetes Care, known for its Accu-Chek brand, is aimed at improving the ease of insulin delivery, ultimately supporting better diabetes management for patients
Global Needles Market Scope
The needles market is segmented on the basis of type, product, delivery mode, material, distribution channel and end user. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Conventional Needles
- Safety Needles
Product
- Suture Needles
- Blood Collection Needles
- Ophthalmic Needles
- Dental Needles
- Insufflation Needles
- Pen Needles
- Other Needles
Delivery Mode
- Hypodermic Needles
- Intravenous Needles
- Intramuscular Needles
- Intraperitoneal Needles
Material
- Glass Needles
- Plastic Needles
- Stainless Steel Needles
- Polyether Ether Ketone Needles
Distribution Channel
- Direct Tenders
- Retail
End Users
- Hospitals and Diagnostic Centers
- Home Healthcare
- Others
Global Needles Market Regional Analysis/Insights
The needles market is analysed and market size insights and trends are provided by country, type, product, delivery mode, material, distribution channel and end user as referenced above.
The countries covered in the Needles market report are U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, U.A.E., Egypt, Israel, Rest of Middle East & Africa.
North America is expected to dominate the market due to the strong base of healthcare facilities, rising investment from key players in the growth of the advanced devices, well-established distribution channels for needles product manufacturers and rising number of research activities in this region.
Asia-Pacific is expected to witness significant growth due to the increase in government initiatives to promote awareness, rise in medical tourism, growing research activities in the region, and the growing demand for quality healthcare in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends, and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed Base and New Technology Penetration
The needles market also provides you with a detailed market analysis for every country's growth in healthcare expenditure for capital equipment, installed base of different kinds of products for the needles market, the impact of technology using lifeline curves and changes in healthcare regulatory scenarios and their impact on the needles market.
Competitive Landscape and Needles Market Share Analysis
The needles market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, application dominance. The above data points provided are only related to the companies' focus related to the needles market.
Some of the major players operating in the needles market are:
- Medtronic (Ireland)
- Ethicon US, LLC. (U.S.)
- Thermo Fisher Scientific Inc. (U.S.)
- Novo Nordisk A/S (Denmark), BD (U.S.)
- Stryker (U.S.)
- Boston Scientific Corporation (U.S.)
- Luminex Corporation ((U.S.)
- Illumina, Inc (U.S.)
- Bio-Rad Laboratories, Inc. (U.S.)
- QIAGEN (Netherlands)
- Abcam plc (U.K.)
- Merck KGaA (Germany)
- Promega Corporation (U.S.)
- Siemens (Germany)
- PerkinElmer, Inc. (U.S.)
- Shimadzu Corporation (Japan)
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