The global Needles market worth $4.5billion by 2030, growing at a CAGR of 3.4%
A needle market types named hypodermic needle is a hollow needle which is widely used across medical settings to carry several applications such as vaccination, blood specimen collection, and drug delivery. These needles efficiently functions with two significant mechanisms named safety and non-safety needles. They are used to inject drugs in the nerves, and also to withdraw fluids as samples for examination and research purposes. The growing demand for hypodermic needles has increased significantly owing to prevent needle-stick injuries. Moreover, the current government participation for implementing stringent regulations mandating the use of safety needles to prevent needle re-usage, and growth in demand for injectable drugs & vaccines drives the market growth.
However, the impact of driving factors of needles industry is anticipated to overshadow the effect of restraints. Moreover, high prevalence of blood-borne diseases and untapped emerging economies are expected to provide newly formed market opportunities to hypodermic needle manufactures in the near future.
Discussing the geographical view, North America and Europe influenced the global needles market. However, this is due to various government legislative reforms are providing regulatory guidelines to manufacturing companies. The U.S. Needlestick Safety Prevention Act provides specific regulatory guidelines to needle manufacturers for the development purposes. The United States holds the largest market for needle followed by North America, and Canada.
The global needles market is segmented into several classification including product type, application, end-user, and geography. Based on the product type the global needles market is categorized by safety hypodermic needles, retractable, non-retractable, safety hypodermic needles, active hypodermic needles, passive hypodermic needles, non-safety hypodermic needles. Based on the application the needles market is classified into drug delivery, vaccination, blood specimen collection. Furthermore, hospitals, diabetic patients, family practices, psychiatrics, others. On the basis of geography, the global needles market is widely range to North America, U.S., Canada, Mexico, Europe, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, Asia-Pacific, Japan, China, Australia, India, South Korea, Taiwan, Indonesia, Thailand, Rest of Asia Pacific, LAMEA, Brazil, Turkey, Venezuela, Saudi Arabia, South Africa, Colombia, Argentina, and Rest of LAMEA.
Leading players of the global needles market include Hindustan Syringes & Medical Devices Limited, International Medsurg Connection, Nipro Medical Corporation, Medline Industries, Inc., Vita Needle Company, Unilife Corporation, Hi-Tech Syringes, Albert David, DeRoyal, and Vygon.
Needles Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2030||$4.5billion|
|Growth Rate||CAGR of 3.4% during 2021-2030|
|Segment Covered||Product, Material, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Becton, Dickinson and Company, Retractable Technologies, Inc., Numedico Pty Ltd, Axel Bio Corporation, AccuPoint, Smiths Group plc.|
Key Segmentation of the Global Needles Market 2018-2025
By Product Needle Market Type
- Safety Hypodermic Needles, by Type
- Safety Hypodermic Needles, by Mode of Activation
- Active Hypodermic Needles
- Passive Hypodermic Needles
- Non-Safety Hypodermic Needles
- Drug Delivery
- Blood Specimen Collection
By End User
- Diabetic Patients
- Family Practices
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA