Dublin, Sept. 12, 2023 (GLOBE NEWSWIRE) -- The "Special Purpose Needles: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Special Purpose Needles Market to Reach $20.4 Billion by 2030
The global market for Special Purpose Needles is experiencing a significant growth trajectory, with an estimated value of US$11.8 Billion in 2022. Projections indicate that this market will reach a substantial size of US$20.4 Billion by 2030, reflecting a robust compound annual growth rate (CAGR) of 7.1% over the analytical period from 2022 to 2030.
This comprehensive market analysis spans the years 2014 to 2030, scrutinizing annual sales trends and growth patterns across a range of specialized needle products. These include hypodermic needles, pen needles, blood collection needles, IV/catheter needles, epidural needles, suture needles, fistula needles, spinal needles, aspiration & biopsy needles, and other niche needle types.
Furthermore, the report delves into the diverse end-use sectors, encompassing hospitals, ambulatory surgical centers (ASCs), and various other applications. By providing historical perspectives and future forecasts, this data enables a deeper understanding of market dynamics and potential growth prospects across different needle categories and global regions.
Within this market landscape, the Hypodermic Needles segment is anticipated to showcase remarkable growth, with a projected CAGR of 8.7%, ultimately reaching a market value of US$6.9 Billion by the end of the analysis period. In light of the ongoing post-pandemic recovery, the Pen Needles segment is reevaluated to exhibit a revised CAGR of 7.7% over the next 8 years.
In the United States, the Special Purpose Needles market is estimated at US$3.9 Billion in 2022. Meanwhile, China, the world's second-largest economy, is expected to achieve a market size of US$1.5 Billion by 2030, driven by a substantial CAGR of 8.2% from 2022 to 2030.
Noteworthy growth is also projected in other geographic markets, such as Japan and Canada, with anticipated growth rates of 6.4% and 6.5%, respectively, during the 2022-2030 period. Within Europe, Germany is forecasted to experience a CAGR of approximately 6.7%. The Asia-Pacific region, led by countries like Australia, India, and South Korea, is set to reach a market value of US$1.9 Billion by 2030.
As the global demand for Special Purpose Needles continues to rise, these insights serve as a valuable resource for businesses and stakeholders seeking to navigate and capitalize on the dynamic opportunities within this market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 601 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $11.8 Billion |
| Forecasted Market Value (USD) by 2030 | $20.4 Billion |
| Compound Annual Growth Rate | 7.1% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of Covid-19 and a Looming Global Recession
- 2020: A Year of Disruption & Transformation
- As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed in 2021
- World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
- How Healthcare Has Been Impacted & Beyond COVID-19 What's In Store for Healthcare?
- Missed Cancer Diagnosis in U.S. as of June 2020
- Cumulative Surgery Cancellations Worldwide (In Million)
- Cumulative Surgery Cancellations Worldwide (In Million)
- With the COVID-19 Pandemic Exposing Global Healthcare Unpreparedness, There is Increasing Policy Led Focus on Rebooting Health Systems Worldwide: Current & Required Healthcare Spending as % of GDP
- Elective Surgeries Report Roller-Coaster Ride Amid COVID-19
- COVID-19 Vaccination Programs Drive Demand for Needles & Syringes
- Special Purpose Needles - Global Key Competitors Percentage Market Share in 2023 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
- Special Purpose Needles: A Prelude
- History OF Needles and Syringes
- Types of Needles
- Emerging Markets: Focal Point for Future Growth
- Recent Market Activity
MARKET TRENDS & DRIVERS
- Innovations to Support Growth in Hypodermic Needles Market
- Home and Alternate Healthcare: An Expanding Segment
- Aging-In Place Gains in Popularity
- Legislations Curb Needle Stick Injuries Drive Demand for Safety Syringes and Needles
- Rising Incidence of Hospital Acquired Infections Propels Demand for Safety Needles
- Leading Nosocomial Infections in the US: Percentage Breakdown of Healthcare Cost from Leading Five Infections
- Onset of Microneedles Pose a Challenge to Hypodermic Needles
- Rise in Number of Surgeries Buoys Growth
- Number of Surgical Procedures (per 100,000 People) in Select Countries
- Pain Free Shots: A Growing R&D Domain
- Fear of Needles: A Key Challenge for Covid-19 Vaccination Efforts
- Needle-Free Innovations to Make Hypodermic Needles Go into Oblivion
- Smaller Gauge Needles: A Persistent Trend
- Surgical Needles Focus on Better Coatings and Material
- Innovations Foster Growth in Dental Needles Market
- Increasing Incidence of Cancer Drives Demand for Biopsy Needles
- Global Cancer Prevalence Statistics: Opportunity Indicators
- Automatic Core Biopsy Needle Devices Transform Needle Biopsy
- Ultrasonically Oscillating Needles Designed to Improve Cancer Management
- Smart Needles to Revolutionize Cancer Diagnosis
- Breast Biopsies Receive a Setback from Needle Shortages & Delay in Procedures
- Rising Incidents of Spinal & Neurological Conditions Keeps Spinal Needles Market in Good Shape
- Spinal Surgery to Benefit from Technological Advancements
- Growing use of Self-Injection Devices to Boost Growth
- Pen Needles Gain Traction as Insulin Pens Rise in Popularity for Administering Insulin
- Smart Insulin Pens: A Growing Area of Interest
- Increasing Role of Self-Injection Devices in Diabetes Management
- Needle-Free Alternatives: A Growing Threat
- Rise in Diabetic Population Continues to Drives Demand for Pen Needles
- Parenteral Drug Delivery Offer Opportunities
- Needleless Systems Pose Threat to Traditional Syringes
- Low Dead Space Needles Face Notable Demand-Supply Gap amid COVID-19
- Innovations Foster Growth in Dental Needles Market
- COVID-19 Impact on Dental Care Market
- Laparoscopy Market to Regain Momentum Following Brief, COVID-19-Induced Hiatus
- MACRO GROWTH DRIVERS
- Consistent Rise in Healthcare Spending Worldwide to Drive Market Opportunities
- Aging Population and Growing Number of Surgical Procedures Spur Demand
FOCUS ON SELECT PLAYERS (Total 103 Featured)
- Argon Medical Devices, Inc.
- B. Braun Medical, Inc.
- Becton, Dickinson and Company
- Dentsply Sirona
- Injeq Oy
- INRAD, Inc.
- Johnson & Johnson
- Medline Industries, Inc
- Medtronic, Inc.
- Smiths Medical International Limited
- Surgical Specialties Corporation
- TERUMO Corporation
For more information about this report visit https://www.researchandmarkets.com/r/y1okwf
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