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 rising number of hospitals in emerging markets. On the other hand, 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.
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 helps 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 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 geriatric population, increasing healthcare expenditure, 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.
The primary interviews conducted for this report can be categorized as follows:
• By Company Type: Tier 1 - 32%, Tier 2 - 44%, and Tier 3 - 24%
• By Designation: C-level - 30%, D-level - 34%, and Others - 36%
• By Region: North America - 40%, Europe - 28%, Asia Pacific - 20%, and the Rest of the World – 12%
Lits of Companies Profiled in the Report:
Becton, Dickinson and Company (US),
B. Braun Melsungen AG (Germany),
Stryker Corporation (US),
Ethicon, Inc. (Subsidiary of Johnson and Johnson) (US),
Boston Scientific Corporation (US),
Terumo Corporation (Japan),
Olympus Corporation (US),
Merit Medical (US),
Greiner Holding AG (Austria),
Merck KgA (Germany),
Hamilton Company (US) Unimed SA,
Argon Medical Devices Inc. (US),
Nipro Corporation (Japan),
Smiths Medical (US),
Ultimed Inc. (US),
Hakko Co.Ltd. (Japan),
DTR Medical (UK),
Rocket Medical (UK)
This report studies the Needles Market based on product, type, delivery mode, material, applications, End user, and region.The report also analyses factors (such as drivers, restraints, opportunities, and challenges) affecting the market growth.
It evaluates the opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders.The report also studies micromarkets with respect to their growth trends, prospects, and contributions to the total Needles Market.
The report forecasts the revenue of the market segments with respect to four major regions.
Reasons to Buy the Report:
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on Needles offered by the top 25 players in the market. The report analyses the Needle Market by product, type, delivery mode, material, applications, End user, and region.
Market Development: Comprehensive information about lucrative emerging markets. The report analyses the markets for various securement devices across key geographic regions.
Market Diversification: Exhaustive information about untapped geographies, recent developments, and investments in the Needle Market
Competitive Assessment: In-depth assessment of market shares and strategies of the leading players in the Needle Market
Market Position: It will upkeep stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies.