NEEDLES MARKET ANALYSIS

Market Size and Trends

Global needle market size is expected to reach US$ 14,901 Mn by 2030, from US$ 8,924 Mn in 2023, exhibiting a compound annual growth rate (CAGR) of 7.6% during the forecast period.

Needless have been in use for thousands of years and remain one of the most important medical devices globally. There are different types of needles primarily classified based on their shape, size and intended medical use. Hypodermic needles are by far the most widely used and come with either a fixed shaft or a detachable needle from the syringe. These are used for delivery of medications like vaccines or injections, as well as blood sample collection. Suture needles are attached to surgical thread or wire and are used for stitching and closing wounds. Other specialty needles include biopsy, spinal, epidural and cannula needles that are designed for specific medical procedures They provide an easy and minimally invasive way of delivering drugs, extracting fluids or stitching tissue. Standard hypodermic needles are sterile, inexpensive, and mass produced. Precision specialty needles help physicians perform complex surgical and diagnostic procedures easily. However, needle-stick injuries pose a risk of transferring blood-borne infections like Human Immunodeficiency Virus (HIV), hepatitis, if used improperly. Disposal of used needles especially in developing world remains an environmental and health challenge. Alternative needle-free technologies are being researched but traditional metal needles still remain the standard of care for majority of global healthcare needs.