Needles Market (Type - Conventional Needles, Bevel Needles, Blunt Fill Needles, Filter Needles, Safety Needles, Passive Needles, and Active Needles; Product - Blood Collection Needles, Suture Needles, Ophthalmic Needles, Dental Needles, Pen Needles, and Other Needles; End-user - Diagnostic Centers, Hospitals & Clinics, Home Healthcare, and Other End-users): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025

  • Published : November, 2019

  • Rep Id : HC0758

  • Category : Healthcare & Medical Devices

  • Status : Published

A recent report published by Infinium Global Research on the needles market provides an in-depth analysis of segments and sub-segments in the global as well as regional needles market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional needles market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global needles market. According to the report, the global needles market is projected to grow at a CAGR of 6.8% over the forecast period of 2019-2025.

 

Market Insight

Needles are commonly used in hospitals for several applications. Needles are majorly used to isolate various body fluids such as blood from veins and tissues from swollen joints. The safety concerns regarding needles are nowadays taken care of owing to strict policies and rules. The implementation of favorable government initiatives for the use of safety needles propels the needles market growth.

 

The growing prevalence of chronic diseases worldwide is a major factor driving the growth of the needles market. As per the World Health Organization, the prevalence of chronic diseases is anticipated to grow by 57% by the year 2020. The surge in demand for vaccines and the rising number of hospitals in developing countries stimulates the growth of the needles market. Safety needles are gaining importance due to its features such as the prevention of needlestick injuries contributing to the market’s growth. In addition, the rising geriatric population globally promotes the growth of the needles market. The people aged 65 and over are expected to be 17 % of the world’s population by 2050. On the other side, the rise in needlestick injuries and infections and increasing use of needle-free technology hinder the growth of the market. Moreover, the rising injectables market creates several opportunities for the growth of the needles market.

 

North America region is anticipated to dominate the global needles market. The easy availability of safety needle and the presence of key market players in North America stimulates the growth of the needles market in North America. Asia-Pacific is expected to grow in the global needles market with a healthy CAGR over the forecast period. The rising geriatric population and strict policies for approval of new injectables in Asia-Pacific contribute to the growth of the needles market in the Asia-Pacific region. Europe is anticipated to grow in the global needles market with a significant CAGR over the forecast period. The rising number of chronic diseases and the growing amount of cardiovascular diseases propel the growth of the Europe needles market. More than 50 million people in Europe have more than one chronic disease.

 

Segment Covered

The report on global needles market covers segments such as type, product, and end-user. On the basis of type, the sub-markets include conventional needles, bevel needles, blunt fill needles, filter needles, safety needles, passive needles, and active needles. On the basis of product, the sub-markets include blood collection needles, suture needles, ophthalmic needles, dental needles, pen needles, and other needles. On the basis of end-user, the sub-markets include diagnostic centers, hospitals & clinics, home healthcare, and other end-users.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Medtronic plc, Stryker Corporation, Terumo Corporation, Smiths Medical, Inc., B. Braun Melsungen AG, Boston Scientific Corporation, Thermo Fisher Scientific Inc., Becton, Dickinson and Company, Novo Nordisk A/S, Neotec Medical Industries Pte. Ltd., and other companies.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the needles market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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