Dublin, Nov. 24, 2022 (GLOBE NEWSWIRE) -- The "Needles Market by Type (Conventional (Bevel, Vented) & Safety), Product (Suture, Blood Collection, Insufflation), Material (Stainless Steel, Plastic), Delivery Mode (IV, IM, Hypodermic), End-User (Hospitals, Diagnostic Centres) - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global Needles Market size is projected to reach USD 10.6 billion by 2027 from USD 7.7 billion in 2022, at a CAGR of 6.7% during the forecast period. Market is driven by factors such as Increasing incidence of accidents, trauma cases and the rising number of hospitals in emerging markets. On the other hand, the Risk of infections associated with the use of aspiration and biopsy needles is expected to limit market growth to a certain extent in the coming years.
The Bevel Needles accounted for the largest market share in the Conventional Needle Market, during the forecast period.
The Conventional Needle Market is segmented into Bevel Needles, Blunt Fill Needles, Vented Needles, and Filter Needles. In 2021, Bevel Needles accounted for a sizable market share because most of the market players are focusing on the development of needles with bevel technology for several dental applications.
The active Needles segment accounted for the largest market share.
Based on type, the safety Needles market is segmented into Active Needles and Passive Needles. The Active Needle segment accounted for the largest market share in 2021 due to their advantages., as these needles provide better penetration through the tissue interface and help reduce pain and tissue trauma. Moreover, it also reduces tip deflection at deep locations and enhance the visibility of the tip at difficult angles.
APAC region accounted for the highest CAGR.
The global needles market is divided into four regions: North America, Asia-Pacific, Europe, and the Rest of the World. According to the regional analysis, the Asia-Pacific region is likely to retain a significant market share in 2021 and the future. The Asia-Pacific market is being propelled by an increase in the geriatric population, increasing healthcare expenditure, and a growing number of road accidents. North America, on the other hand, will experience significant growth in the coming years due to increasing incidences of chronic diseases. Increasing prevalence of cardiovascular diseases, increasing surgical procedures.
| Report Attribute | Details |
| No. of Pages | 221 |
| Forecast Period | 2022 - 2027 |
| Estimated Market Value (USD) in 2022 | $7.7 Billion |
| Forecasted Market Value (USD) by 2027 | $10.6 Billion |
| Compound Annual Growth Rate | 6.7% |
| Regions Covered | Global |
Market Dynamics
Drivers
- High Prevalence of Chronic Diseases
- Growing Geriatric Population
- Rising Number of Accidents and Trauma Cases
- Increasing Number of Hospitals in Emerging Markets
- Increasing Preference for Minimally Invasive Biopsies
- Increasing Demand for Vaccines
Restraints
- Rising Incidence of Needlestick Injuries and Infections
- Risk of Infections Associated with Use of Aspiration and Biopsy Needles
Opportunities
- Expanding Injectables Market
- Rise in Self-Administration of Drugs
- Rising Use of Safety Needles
- Emerging Markets
Challenges
- Use of Needle-Free Injection Technology
- Growing Focus on Development of Alternative Drug Delivery Methods
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Needles Market, by Product
7 Needles Market, by Delivery Mode
8 Needles Market, by Type
9 Needles Market, by Material
10 Needles Market, by Application
11 Needles Market, by End-user
12 Needles Market, by Region
13 Competitive Landscape
14 Company Profiles
15 Appendix
Companies Mentioned
- Argon Medical Devices Inc.
- B. Braun Melsungen
- Becton, Dickinson and Company
- Boston Scientific Corporation
- Creganna
- DTR Medical
- Ethicon (Subsidiary of Johnson & Johnson)
- Greiner Holding Ag
- Hakko Co., Ltd.
- Hamilton Company
- Medtronic plc
- Merck KGaA
- Merit Medical Systems
- Nipro Corporation
- Olympus Corporation
- Rocket Medical plc
- Smiths Medical (Now Icu Medical)
- Stryker
- Terumo Corporation
- Ultimed, Inc.
- Unimed Sa
For more information about this report visit https://www.researchandmarkets.com/r/wq38ge
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