Global Needles Market, By Needles Type (Conventional Needless and Safety Needless), By Delivery Site (Intradermal, Subcutaneous, Intravenous, Intramuscular, and Intraperitoneal), By Application (Surgical Suture Needless, Pen Needless in Diabetes, Blood Collection Needless, Ophthalmic Procedure Needless, Dentistry Needless, Insufflation Needless, and Other Needless),By Material (Stainless Steel Needless, Plastic Needless, Glass Needless, and PEEK Needless) and By End User (Hospitals, Clinics, Diagnostic Centers, Research Institutions, Home-based care, and Others) and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 8,924 Mn in 2023 and is expected to exhibit a CAGR of 7.6% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Increasing organic growth strategies such as product launch by key market players to expand their product portfolio is expected to drive market growth over the forecast period. For instance, in June 2021, Hindustan Syringes & Medical Devices Ltd. (HMD), a medical device company, launched thesingle-use safety needless with sharp injury prevention feature under the brand name Dispojekt Needles. These can be mounted on to a standard dispo van single use syringe or a KOJAK auto disable safety engineered syringe that disables automatically after injection to prevent any reuse, to avoid spread of blood borne injection related infection.
Global Needles Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spreads quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries, such as India, China, Brazil, and others faced problems with regard to the transportation of drugs from one place to another.
The coronavirus (COVID-19) pandemic and resulting lockdown in various countries across the globe has impacted the financial status of businesses in all sectors. The private healthcare sector is one of the sectors, which has been majorly impacted by the COVID-19 pandemic. The pandemic has positively impacted the global needles market due to increasing demand for needless during COVID- 19 pandemic. For instance, in April 2021, with the surge in COVID cases amid the rising demand for syringes during the ongoing vaccination drive in India Hindustan Syringes & Medical Devices Ltd. (HMD), a medical device company, invest edover US$ 1000 Mn to expand its production capacity from 2.5 billion syringe to 3 billion.
Global Needless Market: Key Developments
On October 25, 2023, Arrotek Medical Ltd, a medical device company announced merger agreement with NeedlesTech, a U.S. based medical device company, to extended service offering covering the design, development, and manufacture of minimally invasive medical devices.
On September 5, 2023, Baird Medical Investment Holdings Limited, a leading microwave ablation medical device developer announced that its subsidiary, Nanjing Changcheng Medical Equipment Co., Ltd., a medical device company, received approval of its Single-Use Sterile Biopsy Needles from Jiangsu Medical Products Administration, the drug regulatory body for Jiangsu Province in China.
On June 6, 2023, Teleflex Incorporated, a leading global provider of medical devices for critical care and surgery, announced that the Arrow EZ-IO Needles is the first and only intraosseous (IO) needles to receive 510(k) clearance from the U.S. Food and Drug Administration (FDA) for magnetic resonance imaging (MRI) conditional labeling. The EZ-IO needles, a critical component of the Arrow EZ-IO Intraosseous Vascular Access System, has a patented diamond tip designed for fast,1 precise and steady insertion. The EZ-IOSystem can be used when intravenous access is difficult or impossible to obtain in emergent, urgent, or medically necessary cases. The new labeling allows the clinician to continuously care for patients who require magnetic resonance imaging (MRI) scans without interruption to the established site for vascular access.
On January 21, 2023, MTD Group, a leading med-tech group, announced that it has received U.S. Food and Drug Adminstration (FDA) clearance for DropSafe Sicura passive safety needles for the intramuscular and subcutaneous injection of vaccines and other drugs. Safety needless are widely used by healthcare professionals (HCPs) to avoid the risk of needlesstick injuries (NSIs) when injecting drugs to patients.
Browse 53 Market Data Tables and 50 Figures spread through 240 Pages and in-depth TOC on “Global needles market, By Needles Type (Conventional Needless and Safety Needless), By Delivery Site (Intradermal, Subcutaneous, Intravenous, Intramuscular, and Intraperitoneal), By Application (Surgical Suture Needless, Pen Needless in Diabetes, Blood Collection Needless, Ophthalmic Procedure Needless, Dentistry Needless, Insufflation Needless, and Other Needless), By Material (Stainless Steel Needless, Plastic Needless, Glass Needless, and PEEK Needless) and By End User (Hospitals, Clinics, Diagnostic Centers, Research Institutions, Home-based care, and Others) and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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https://www.coherentmarketinsights.com/market-insight/needles-market-1331
Key Takeaways of the Global Needles Market:
- Global needles market is expected to exhibit a CAGR of 7.6% during the forecast period due to increasing use of needlessduring surgeries, due to increasing number of cardiovascular surgeries is expected to drive the segment growth over the forecast period. For instance, in August 2022, according to the data published by New Jersey Department of Health, 42.8 % (7,398) of the 17,291 total open heart surgeries were performed in New Jersey, U.S., in 2022. In 2019-2020, the number of bypass surgeries were 43.1% (4,094 of the 9,489) in 2019 and 42.4% (3,304 out of 7,802) in 2020 were bypass surgeries in the U.S.
- Among application, pen needless in diabetes segment is expected to dominant in global needles market. Terumo Corporation, a global leader in medical technology, launched FineGlide, sterile pen needles for patients requiring regular insulin injections or other self-medication, designed to be compatible with most commonly available pen devices in India.
- Among region, North America segment is expected to be the dominant in the global needles market, due to rising the Ear Nose Throat (ENT) surgical procedures in the region. For instance, according to the U.S. National Library of Medicine May 2020, tonsillectomy was one of the most commonly performed surgical procedures and over 500,000 cases are performed annually in children less than 15 years of age in 2019.
- Major players operating in the global needles market 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
