The size of the global needles market is expected to worth USD 6.72 billion in 2021. This value is further estimated to be growing at a CAGR of 7.7% to reach USD 9.74 billion by 2026. The market is showing huge growth potential during the forecast period. It will continue to expand with the recent developments in the Pharmaceutical industry. Continuous advancements in the medical profession to minimize the rising cost of healthcare and the rising prevalence of diseases worldwide have made needles an essential part of today's healthcare ecosystem. Furthermore, COVID-19 circumstances are quickly improving the industry. The needle industry is constantly expanding and will continue to do so in the future.
Needles are used in combination with infusions to deliver medicines to the body. They are used for many purposes, such as blood processing, dental procedures, and surgical procedures. It fits into the syringe's portion and is divided into three sections: long shaft, incline, and middle. Different types of needles are often used in clinical practice for various purposes, such as drug administration within various layers of skin, aesthetic procedures, and different surgical procedures. There are various types of needles available.
Conventional needles are used for general purpose medicine administration, fill and filter needles are used for vaccination and other sterile products. In contrast, safety needles are used for blood collection and used to prevent infections through contamination during medication administration. It also depends on its application area; for instance, pen needles are used by diabetes patients for injecting a daily dose of insulin. Blood collection needle is used for diagnostic purposes, and suture needles are used for surgical purposes.
The rising adoption of injectable drugs, increasing demand for vaccines, rising medical costs, and growing demand for hormonal supplements are the major growth factors of the needles market globally.
According to the United Nations Children's Fund (UNICEF), in 2018, global coverage rates for the third dose of diphtheria-tetanus-pertussis (DTP3) vaccine reached 87% from 74% in 2002 was 22% in 1985. Yet 72 countries have yet to meet the Global Vaccine Action Plan (GVAP) target of 92% or more DTP3 coverage. Due to the advantages of injectable drugs over tablet formulations, companies focus on developing injectable drug delivery systems, including syringes and needles.
The increase in the geriatric population and the demand for vaccines are among the primary growth factors.
The increasing prevalence of various chronic diseases and the rising number of hospitals and clinics in emerging countries are also expected to increase the growth of this market during the forecast period. The extensive R & D of leading companies worldwide to introduce needle technology with maximum safety and precision is expected to expand. In January 2018, a research team from the University of Adelaide developed a biopsy needle attached to a small imaging probe to allow surgeons to assess particular blood vessels at risk when inserting the needle, thus preventing fatal bleeding.
Additionally, the emergence of needle technology reduces the level of pain and anxiety experienced during injections. Specific treatment regimens are associated with pain and anxiety, where various psychological and physical factors activate pain receptors in the brain. For example, there is a strong association between pain and anxiety and dental injection during dental procedures. Moreover, increased awareness of blood donation is expected to drive market growth soon. The lack of blood supply can be met by voluntary blood donation, resulting in an increased demand for needles and syringes.
In many developed regions, such as Europe, strict regulations have led to mandatory blood tests on donations for HIV and HBV infections. As a result, the use of needles for donation and blood testing has increased dramatically in recent years. According to the Red Cross, demand for blood and blood products is high due to increased cases of complex surgeries, such as chemotherapy, heart surgery, and organ transplantation, which require large numbers of these products.
The increase in needlestick injuries and infections and the increasing use of needleless technology hamper the market growth. The lack of sufficient physicians in some emerging countries is another significant restraint to the needle market growth.
Impact of COVID-19 on the global needles market:
Amid the COVID-19 crisis and impending economic downturn, the global needle market will grow by approximately USD 3.7 billion during the review period, driven by an annual growth rate compound revised (CAGR) of 7.1%. The coronavirus pandemic has sparked an unprecedented series of events affecting all industries. The needle market will be restored to a new normal, which will be continually redefined and rethought in the future in a post-COVID-19 era. Keeping abreast of trends and accurate analyses is more crucial than ever in managing uncertainty, changing, and continuously adapting to new and changing market conditions. Under the new emerging geographic scenario, the United States is expected to readjust at a compound annual rate of 6.1%.
In Europe, the region hardest hit by the pandemic, Germany, will add more than $ 125 million to the size of the region over the next 8-9 years. Besides, over the US, $ 127.3 million of the projected demand in the region will come from the rest of the European markets. China, responsible for the pandemic, faces significant political and economic challenges. Amid growing pressure for economic decoupling and distancing, the changing relationship between China and the rest of the world will influence competition and market opportunities. Against this backdrop and changing geopolitical, commercial, and consumer sentiment, the world's second-largest economy will grow 11.3% over the next few years and add approximately US $ 953.7 million in terms of affordable market opportunities.
Market Size Available
2020 to 2026
2021 to 2026
By Type, Product, Delivery Mode, Material, End-User, and Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
North America, Europe, APAC, Latin America, Middle East & Africa
This research report on the global needles market has been segmented and sub-segmented into the following categories and analyzed market size and forecast for each segment until 2026.
Needles Market – By Type:
Based on the type, Conventional needles type is holding with the highest shares of the market, whereas bevel needles are growing at a faster rate in recent years. The increasing number of people suffering from severe health issues is majorly fueling the demand of the market. Increasing the need to increase the production rate of needles to meet the hospitals' requirements is prompting the market's growth.
Needles Market -By Product:
Based on the product, Suture needles product type is leading dominant shares of the market. Increasing incidences of chronic diseases across the world are straightly making the shares of this segment moving forward. A rise in the support from the private and public organizations in healthcare centers is lavishing the growth rate of the market.
Needles Market – By Delivery Mode:
Needles Market – By Material:
Based on material, the Stainless steel needles delivery mode is growing tremendously over the past decade. The rise in awareness over maintaining sterilization while performing surgeries makes the market hold dominant shares of the market. Increasing focus on improving treatment procedures is lavishing the demand of the market.
Needles Market – By End-users:
Based on End-Users, the Hospitals & clinics sector has the highest shares of the market and continues the same rate in foreseen years. Increasing the constructional activities of hospitals and rising demand to meet patients' requirements escalate the need for this market. The growing priority to provide proper health management for diabetes is gearing up the growth of the needles market.
Needles Market – By Region:
Geographically, North American and European regions together had dominated the global needles market in 2019. It is because of different types of government legislative reforms. The North American needles market held the largest share in the global market in 2020, and it is further expected to register a robust CAGR during the forecast period. Year over year, there has been an increase in the prevalence of needle sticks, with the rising population is expected to drive the market growth in this region. However, the factors such as the availability of safety needles, active participation of market players, and the rise in the adoption of safety needles propel the market growth in this region over the years.
The U.S. needles market is contributing a significant share to this regional market. Recently, Becton Dickinson, one of the key manufacturers in the needles market, has received many orders from the U.S and Canadian governments for 177 million needles for COVID-19 vaccination programs. The U.S. majorly invests in the treatment of cancer and diabetes every year. As per the World Cancer Research Organization, 2014 report, the number of cancer occurrences in the U.S was 328 per 100,000, mounting the needle market growth. The Canadian needles market to have the quickest growth during the forecast period with the most considerable CAGR rate. The Canadian pharmacies are concentrating more on manufacturing more needles for the prevention of HIV in patients.
In 2020, the European needles market accounted for the second-largest share globally and projected to hold a substantial share during the forecast period. Influential growth factors drive the Market in this region. The factors such as developing infrastructure and increasing population increase in population also contribute to needles' market growth. Encouraging government initiatives and investment funds for developing healthcare standards further create market growth.
In Europe, the U.K. needles market is growing at a significant rate. To combat the COVID-19, the United Kingdom government had given an order to Becton Dickinson to deliver 65 million syringes and needles by the mid of September 2020 to assist the U.K vaccination effort for COVID 19. U.K. is one of the world's first governments to secure vaccine injection devices to support the COVID 19 vaccination campaign.
However, the Asia-pacific needles market is expected to grow at the highest CAGR between 2021 to 2025 due to the increasing geriatric population. Asia Pacific is likely to witness significant growth with an increasing Compound Annual growth rate (CAGR) owing to the surge in awareness about the harmful outcomes of the needlestick injuries and increasing government initiatives and investments. Moreover, y-o-y, this region is witnessing a high prevalence of chronic and infectious diseases, which is anticipated to propel market growth.
In Asia-Pacific, the Japanese needles market is predicted to hold the highest share during the forecast period. Increased adoption of advanced treatment options, lifestyle changes, and medical technology improvements are responsible for the needle market growth in Japan. India is next to Japan as the needles' manufacturing cost is low. The other factors such as rising healthcare expenses, huge patient count, and much knowledge about healthcare are surging India's market growth. China is to have quick change during the analysis period.
The Latin American Needles Market is estimated to grow steadily from 2021 to 2026 due to the growing need and increasing patients visits to the hospitals. Among Latin American nations, the Brazilian needles market is projected as the most lucrative region and expected to register a robust CAGR during the forecast period. The Brazilian government has come forward for a bidding process to buy 331 million needles and syringes to battle against the COVID 19 vaccination campaign. The Mexican needles market is the world's seventh-largest regional market in exporting needles and syringes.
The Middle East Africa Needles Market is stable now and is estimated to witness a healthy CAGR during the forecast period. It is expected to improve its growth in the coming years of the forecast period. The increasing prevalence of chronic diseases with the rise in population and availability of advanced treatments are augmenting the Needles market growth.
KEY MARKET PARTICIPANTS AND SHARE INSIGHTS:
Some of the most influential companies leading the global needles market are Becton Dickinson and Company, B. Braun Melungeon AG, Terumo Corporation, Smiths Medical, and Thermo Fisher Scientific.
These companies use strategic tactics such as mergers, partnerships, and acquisitions to achieve a larger share of the global economy while still boosting their product portfolio.
RECENT MARKET DEVELOPMENTS:
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.2 Conventional Needles
5.1.3 Bevel Needles
5.1.4 Filter Needles
5.1.5 Vented Needles
5.1.6 Safety Needles
5.1.7 Active needles
5.1.8 Passive Needles
5.1.9 Y-o-Y Growth Analysis, By Type
5.1.10 Market Attractiveness Analysis, By Type
5.1.11 Market Share Analysis, By Type
5.2.2 Suture Needles
5.2.3 Blood Collection Needles
5.2.4 Ophthalmic Needles
5.2.5 Dental Needles
5.2.6 Insufflation Needles
5.2.7 Pen Needles
5.2.8 Other Needles
5.2.9 Y-o-Y Growth Analysis, By Product
5.2.10 Market Attractiveness Analysis, By Product
5.2.11 Market Share Analysis, By Product
5.3 Delivery Mode
5.3.2 Hypodermic Needles
5.3.3 Intravenous Needles
5.3.4 Intramuscular Needles
5.3.5 Intraperitoneal Needles
5.3.6 Y-o-Y Growth Analysis, By Delivery Mode
5.3.7 Market Attractiveness Analysis, By Delivery Mode
5.3.8 Market Share Analysis, By Delivery Mode
5.4.2 Stainless Steel Needles
5.4.3 Plastic Needles
5.4.4 Glass Needles
5.4.5 PEEK Needles
5.4.6 Y-o-Y Growth Analysis, By Material
5.4.7 Market Attractiveness Analysis, By Material
5.4.8 Market Share Analysis, By Material
5.5 End User
5.5.1 Hospitals & Clinics
5.5.2 Diagnostic Centers
5.5.3 Home Healthcare
5.5.4 Other End Users
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Type
126.96.36.199 By Product
188.8.131.52 By Delivery Mode
184.108.40.206 By Material
220.127.116.11 By End User
6.1.4 Market Attractiveness Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Type
126.96.36.199 By Product
188.8.131.52 By Delivery Mode
184.108.40.206 By Material
220.127.116.11 By End User
6.1.5 Market Share Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Type
126.96.36.199 By Product
188.8.131.52 By Delivery Mode
184.108.40.206 By Material
220.127.116.11 By End User
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Dickinson and Company
8.3 B. Braun Melsungen AG
8.4 Terumo Corporation and Smiths Medical
8.5 Thermo Fisher Scientific
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures