The size of the needles market in Europe is expected to grow from USD 2.18 billion in 2022 to USD 3.04 billion by 2027, growing at a CAGR of 7.85% from 2022 to 2027. The European market for needles is anticipated to showcase high growth potential during the forecast period owing to the increasing developments in the European pharmaceutical industry.
The European needles market is primarily driven by the factors such as the proliferation of chronic diseases across Europe and increasing inclination for biosimilar drugs. However, favorable reimbursement scenarios in European countries encourage the entrance of new market players for the Needles. Also, the rising geriatric population increases the market growth to some extent. In addition, a growing number of hospitals in developed countries such as the United Kingdom, Germany, and Spain are witnessing market growth. Moreover, the rising demand for vaccines across Europe influences the demand for needles through which market growth can be increased. Over the years, increasing awareness among the people for blood donation in the region is expected to uplift the market growth. The rising incidence of road accidents, trauma events, and burns across Europe is more likely to increase the market growth. The UK has reported a rise in the incidence of burns wounds in the recent past.
Furthermore, the prevalence of diabetes, both type 1 and type 2, is expected to propel the growth rate of the European needles market. For instance, as per World Health Organization (WHO), an estimated 60 million in Europe have diabetes. According to the data published by the IDF Diabetes Atlas, Europe has been experiencing 31,000 new diabetes cases every year. Furthermore, the growing number of surgeries due to the high incidence of surgical site infection is projected to grow in the European region in the coming years and boost the European needles market growth. Moreover, Filter needles drain pus and blood from infected wounds and inject medicine to promote wound healing. Furthermore, increasing government and private organizations' investments are encouraging market growth.
Several incidents of needle stick injuries and infections negatively impact the European needles market growth. However, the lack of skilled professionals in the region is expected to restrain the market growth.
This research report on the Europe Needles Market has been segmented and sub-segmented into the following categories.
By Delivery Mode:
By End User:
The European needles market is expected to account for a significant share globally during the forecast period. The market growth in the region is attributed to the rising prevalence of diabetes, supportive reimbursement scenarios for needles, and rising awareness across the region. In addition, other factors, such as developing healthcare infrastructure and growing population, drive market growth. Lancets and pen needles are essential for various testing and medication delivery procedures. Lancets were first launched in 1992 to collect blood samples for various tests such as allergy tests, screening tests, cholesterol tests, etc. Diabetes is a lifestyle disease that develops due to a lack of exercise, obesity, and unhealthy foods. According to the World Health Organization, diabetes affects 9% of Europe's population, or 62 million people, whereas it affects 25 million people in Africa. The market for pen needles and lancets in Europe, the Middle East, and Africa is predicted to increase at a CAGR of 7.5 percent between 2017 and 2022. The market is also growing due to an increase in biological tests available. In the regional market, most of the European market was accounted for by countries such as the UK, Germany, France, Spain, and Italy in 2021.
The UK needles market is expected to be the fastest growing country in the European region over the forecast period owing to the increasing prevalence of diabetes. Recently, the UK has reported a rise in the incidence of burns wounds. According to the data published by Diabetes UK, an estimated 4.7 million people in the UK had diabetes in 2019, and the number is expected to increase to 5.5 million by 2030, owing to the increasing adoption of sedentary lifestyles.
During the forecast period, the German market is anticipated to hold a considerable share of the European market. Germany’s system has experienced significant developments over the last several years. Factors such as increasing adoption of technological advancements and favorable government regulations are anticipated to drive the needle market in Germany. Companies such as B. Braun, Aesculap, Becton, Dickinson, and Company play a vital role in the German market. They are anticipated to hold a considerable share of the German market in the coming years.
KEY MARKET PLAYERS:
Notable companies leading the Europe Needles Market profiled in the report are Becton, Dickinson and Company, B. Braun Melsungen AG, Terumo Corporation and Smiths Medical, Terumo Corporation, Smiths Medical, and Thermo Fisher Scientific.
The Europe needles market was worth USD 2.18 billion in 2022.
Between 2022 to 2027, the European needles market is anticipated to grow at a CAGR of 7.85%.
The UK market is estimated to showcase the fastest growth in the European market during the forecast period.
B. Braun Melsungen AG, Medline Industries, Inc., Ethicon, Terumo Medical Corporation, Smiths Medical, Boston Scientific Corporation, Conmed Corporation and Cook Medical are some of the noteworthy companies in the Europe needles market.
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