NEEDLES MARKET ANALYSIS

Regional Analysis

Global Needles Market Regional Insights:

• North America North America is the dominant region in the global needle market over the past few decades. With the presence of leading medical device companies and well-established healthcare infrastructure, the US and Canada account for the largest share. Major players such as Abbott have established manufacturing and distribution networks across the globe. This helps them cater to the growing demand from other key markets. Besides domestic demand, North America also caters to the export markets. The region exports needles not only to developed countries but also emerging economies with growing healthcare needs. Strict regulations ensure product quality and safety. This has enhanced the brand image of North American players in international markets. The pricing of needles from the region is also competitive due to economies of scale. Overall, the North American needle market offers manufacturers an ideal mix of demand, supply, and regulatory environment to achieve dominance.
• Asia Pacific region has emerged as the fastest growing market for needles in recent years. Countries like India, China, and Indonesia have a huge patient population and rising access to healthcare. This is driving the use of needles for therapeutic applications as well as vaccination programs across the region. At the same time, many Asian countries are also actively working to develop their domestic medical devices industry. This is attracting major investments from multinational market players looking to tap into the large market. They are setting up manufacturing units to cater to the local demand. The region is also aiming to reduce its dependence on imports for needles and related products. The favorable business environment in countries like India and China is a big attraction for setting up cost-competitive manufacturing bases. If this growth momentum continues, Asia Pacific will play a much bigger role in shaping the global needle market landscape in the near future.
• In the Europe region, the needle type segment is dominated by conventional needles for subcutaneous and intramuscular injections. Conventional needles account for over 75% of the total needle market due to their low cost and widespread adoption in routine healthcare procedures. Several European countries still rely heavily on conventional disposable needles for delivering common vaccines and medications. For instance, in May 2021, public health authorities in Italy released data showing that, over 95% of vaccine doses from 2018-2020 were administered using conventional needles. This is primarily because conventional needles are inexpensive and can be produced at large volumes, thus making them the preferred option for cash-strapped public health systems.

Analyst View: Global needle market is expected to witness significant growth due to rising prevalence of chronic diseases and lifestyle disorders worldwide. Increasing number of surgical procedures will continue driving the demand for suturing needles. Growing geriatric population is prone to various diseases and conditions are expected to propel the global needle market. Expanding vaccination programs, especially in developing nations, will augment the sales of injection needles. Further, rising awareness about importance of therapeutic injectables for effective treatment is likely to boost the adoption of the needles. However, stringent regulations pertaining to safety and design of needles may moderate the market growth. Preference for needle-free injection technology is also impacting the sales of conventional injection needles. Availability of alternative drug delivery methods could pose a challenge. High price point of certain specialty needles may restrict their availability in price-sensitive developing and underdeveloped markets. The needle market is dominated by North America, led by well-established healthcare infrastructure and heightened awareness. Asia Pacific is envisioned to witness fastest gain during the forecast period on back of increasing healthcare expenditure, burgeoning patient pool and rising medical tourism. Growing burden of chronic diseases will augment the demand from countries like China and India. Latin America, Middle East, and Africa offer immense scope due to unmet needs. Market players must expand in emerging territories through collaborative strategies.