Global needle market has been witnessing significant growth over the past few years. Needles are medical instruments that are used for various purposes such as administering medication, collecting blood samples, vaccination, blood transfusion, and dialysis. Rising prevalence of chronic diseases along with increasing number of surgical procedures performed globally is the key factor driving the demand for needles. Furthermore, growing geriatric population, which is more prone to develop chronic conditions, also contributes to the market growth. Technological advancements in needle in making them more patient-friendly have further boosted their adoption. However, stringent regulations imposed on needle manufacturing and procurement is a major challenge for the market players.

Market Dynamics:

Global needle market is experiencing substantial growth, underpinned by the increasing incidence of chronic diseases such as diabetes, cancer, and cardiovascular disorders. A sedentary lifestyle and unhealthy dietary habits, prevalent across various regions, are contributing to the rise of these ailments. Furthermore, the expanding geriatric population, which is more susceptible to chronic illnesses, exacerbates the demand for needles used in medication delivery, vaccinations, and blood sampling.

Older individuals frequently require ongoing medical care, which often involves the use of needles for various therapeutic and diagnostic purposes. The growth trajectory of the needle market is also propelled by an increase in surgical interventions, widespread immunization initiatives, and continual healthcare innovations that have led to the development of more patient-centric needles that are designed to minimize pain and discomfort during injections. Amidst the positive trends, the market faces hindrances in the form of strict regulatory frameworks governing the manufacturing, distribution, and procurement of needles that are aimed at ensuring patient safety and maintaining high-quality standards.

A significant shift towards needle-free drug delivery systems presents another challenge to the needle market, appealing to individuals who have a phobia of needles or who seek more convenient drug administration methods. Despite these challenges, advancements in needle technology, particularly the advent of hollow micro needles capable of minimally invasive and virtually pain-free drug delivery, present lucrative opportunities for the market players. This innovation has the potential to broaden the scope of applications for needles in drug delivery systems.

Global needle market grapples with regulatory and competitive pressures, the rising prevalence of chronic diseases, an aging population, increased medical procedures, and healthcare advancements continue to fuel market expansion. Developments such as hollow micro needles, offer promising avenues for continued growth and innovation in the market.

For instance, in July 2021, the International Diabetes Federation has reported approximately 537 Mn adults living with diabetes as of 2021, and this figure is anticipated to escalate to 643 Mn by 2030, indicative of a growing need for medical syringes for insulin administration

Key features of the study:

• This report provides in-depth analysis of the global needle  market, and provides market size (US$ Mn) and compound annual growth rate (CAGR %) for the forecast period (2023–2030), considering 2022 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global needle market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include Abbott, Becton, Dickinson and Company, Terumo Corporation, Johnson & Johnson Services Inc., B. Braun SE, Biotronik SE & Co. KG, Boston Scientific Corporation, Nipro Medical Corporation, Medtronic, Novo Nordisk A/s, Cardinal Health, Teleflex Incorporated, Thermo Fisher Scientific Inc., Merck KGaA, DTR Medical Ltd, and Stryker
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• Global needle market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global needle market

Detailed Segmentation:

• By Needle Type
• • Conventional Needles
  • Safety Needles
• By Delivery Site
• • Intradermal
  • Subcutaneous
  • Intravenous
  • Intramuscular
  • Intraperitoneal
• By Application
• • Surgical Suture Needles
  • Pen Needles in Diabetes
  • Blood Collection Needles
  • Ophthalmic Procedure Needles
  • Dentistry Needles
  • Insufflation Needles
  • Other Needles
• By Material
• • Stainless Steel Needles
  • Plastic Needles
  • Glass Needles
  • PEEK Needles
• By End User
• • Hospitals
  • Clinics
  • Diagnostic Centers
  • Research Institutions
  • Home-based care
  • Others
• By Region
• • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East
  • Africa
• Top Companies in Global Needle Market:
  • Abbott
  • Becton, Dickinson and Company
  • Terumo Corporation
  • Johnson & Johnson Services Inc.
  • B.Braun SE
  • Biotronik SE & Co. KG
  • Boston Scientific Corporation
  • Nipro Medical Corporation
  • Medtronic
  • Novo Nordisk A/s
  • Cardinal Health
  • Teleflex Incorporated
  • Thermo Fisher Scientific Inc.
  • Merck KGaA
  • DTR Medical Ltd
  • Stryker