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North America Needles Market Research Report – Segmented By Product, Delivery Mode, Material, End User & Country (The United States, Canada and Rest of North America) - Industry Analysis, Size, Share, Trends & Growth Forecast (2022 to 2027)

Published: January, 2022
ID: 2686
Pages: 145
Formats: report pdf report excel report power bi report ppt

North America Needles Market Size (2022 to 2027)

The size of the Needles Market in North America was valued at USD 2.46 billion in 2022, and it is estimated to be growing at a CAGR of 7.9%, to reach USD 3.47 billion by 2027.

The North American needles market has experienced significant growth in recent years. This growth is attributed to an increased demand for vaccines, an increase in the geriatric population, an increase in the number of hospitals in developing economies, and an increase in the prevalence of chronic diseases. In addition, several biotechnology and pharmaceutical companies are dedicated to developing new injectable drugs useful in the treatment of chronic diseases, which have increased the production of needles, thus driving the market growth rate.

The demand for needles in this region is expected to increase with the increasing prevalence of diabetes. Around 425 million people had diabetes in 2018 worldwide; by 2045, this number is expected to reach 640 million (Source: International Diabetes Federation). Therefore, with the increasing prevalence of diabetes globally, the demand for needles will increase during the forecast period.

The North American needles market is expected to experience significant growth, owing to increased awareness of people about donating blood, extensive R&D, which has introduced new needle technology with high safety and precision, and the growing demand for point-of-care diagnostics.

The increase in the self-administration of drugs and the increasing use of safety needles will provide opportunities for market growth during the forecast period.

However, the increase in needlestick injuries and infections, the use of needle-free technology, and the growing attention to the development of alternative drug delivery methods are the main factors expected to slow the market's growth. In addition, the factors limiting the growth of the market are the lack of qualified physicians and the anxiety related to the needles. The Nort American needles market is further expected to face some challenges due to the reuse of needles, complications and mental factors associated with needles, the availability of other convenient dosage forms such as those administered orally, and poor health care reimbursement policies in developing and underdeveloped regions.

This research report on the North America Needles Market has been segmented and sub-segmented into the following categories:

By Type: 

  • Conventional Needles
  • Bevel Needles
  • Blunt Fill Needles
  • Filter Needles
  • Vented Needles
  • Safety Needles
  • Active Needles
  • Passive Needles

By Product: 

  • Suture Needles
  • Blood Collection Needles
  • Ophthalmic Needles
  • Dental Needles
  • Insufflation Needles
  • Pen Needles
  • Other Needles

By Delivery Mode: 

  • Hypodermic Needles
  • Intravenous Needles
  • Intramuscular Needles
  • Intraperitoneal Needles

By Material: 

  • Stainless Steel Needles
  • Plastic Needles
  • Glass Needles
  • PEEK Needles

By End User: 

  • Hospitals & Clinics
  • Diagnostic Centers
  • Home Healthcare

By Country: 

  • The United States
  • Canada
  • Rest of North America

Geographically, The North American medical industry has grown significantly over the years. Manufacturers are starting to focus on delivering well-established technologies to ensure strong and sustainable future revenue growth. Being a high-growth market, many manufacturers are also expanding their manufacturing bases. With the advantage of low-cost manufacturing, most manufacturers have considered outsourcing to be the most profitable R&D.

Growing demand for healthcare, driven by the rapid aging of the population, increasing prevalence of diabetes and other chronic diseases, is driving the growth of the U.S. needles market. As a result, the value of the North American needles market is expected to grow slightly during the forecast period. Market declines will be driven by a contraction in unit sales but limited by a slight appreciation in average selling prices (ASP).

The U.S is expected to have a dominant share over Canada in the North American market. The rising prevalence of diabetes and favorable reimbursement scenario for needles, federal injection technology awareness initiatives, increased market penetration of major companies, and improved needle technologies are driving forward market growth in the United States.

KEY MARKET PLAYERS:

Some of the companies that are dominating the North American Needles market profiled in this report are Becton, Dickinson and Company, B. Braun Melsungen AG, Terumo Corporation, and Smiths Medical, Terumo Corporation, Smiths Medical, and Thermo Fisher Scientific.

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