The global venipuncture needles market was valued at USD 839.2 million in 2019. Increase in diagnostic testing for various diseases, rapid adoption of disposable products along with increase in blood donation programs are key factors driving the global venipuncture needles market.
Venipuncture is a procedure that involves puncturing a vein to obtain a blood sample or administer a drug into the body. This is mainly done by intravenous cannulation. A needle or a syringe is used to extract blood during venipuncture. Veins are preferred over arteries owing to their thinner walls which are easy to pierce. The antecubital fossa, situated in the anterior elbow at the fold, is the most common site for venipuncture. The cephalic, median cubital, and basilic veins all run through this region. Increase in diagnostic testing for various diseases such as leukemia, anemia and others drives the demand for venipuncture needles. Moreover, rise in blood donation camps is expected to drive the growth of venipuncture needles market in the future. However, excessive bleeding, fainting, nerve damage, hematoma, feeling light-headed, and infection are some of the minor risks associated with venipuncture which is anticipated to hinder the growth of the market over the forecast period.
The global venipuncture needles market has been segmented based on vein type, end-user, and region. On the basis on vein type, the global venipuncture needles market is categorized into cephalic vein, median cubital vein, basilic vein, and others. On the basis of end-user, the global venipuncture needles market is segregated into hospitals, diagnostic laboratories, physician’s office, and others. Hospitals grabbed high revenue share of the market in 2019. Geographically, North America dominated the global venipuncture needles market in 2019 and Asia Pacific is expected to be the fastest growing region by 2028.
Key players operating in the global venipuncture needles market include Becton, Dickinson & Company, Smiths Medical, B. Braun Melsungen AG, Disera Medical Equipment Logistics Inc., Demophorius Healthcare, NxStage Medical, Inc, Improve Medical, Retractable Techologies, Inc., Plasti Lab, and FL MEDICAL s.r.l. among others.
Venipuncture Needles Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 839.2 million|
|Growth Rate||CAGR of 5.4% during 2021-2028|
|Segment Covered||Vein Type, End-users, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Key Players Profiled||Becton, Dickinson & Company, Smiths Medical, B. Braun Melsungen AG, Disera Medical Equipment Logistics Inc., Demophorius Healthcare, NxStage Medical, Inc, Improve Medical, Retractable Technologies, Inc., Plasti Lab, and FL MEDICAL s.r.l. among others.|
Key Segments of the Global Venipuncture Needles Market
Vein Type Overview, 2018-2028 (USD Million)
- Cephalic Vein
- Median Cubital Vein
- Basilic Vein
End-users Overview, 2018-2028 (USD Million)
- Diagnostic Laboratories
- Physician’s Office
Regional Overview, 2018-2028 (USD Million)
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
Reasons for the study
- Increase in diagnostic testing for various diseases
- Rise in blood donation programs across the globe
What does the report include?
- The study on the global venipuncture needles market includes qualitative insights such as drivers, restraints, challenges and opportunities
- Additionally, the market has been evaluated using the Porter’s Five Forces analysis
- The study covers qualitative and quantitative analysis of the market segmented on the basis of vein type, and end-user. Moreover, the study on venipuncture needles market provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments
- The study includes the profiles of key players operating in the market with a significant global and/or regional presence
Who should buy this report?
- The report on the global venipuncture needles market is suitable for all the players across the value chain including raw material suppliers, hospitals, clinics, diagnostic centers, medical device companies and manufacturers, healthcare organizations, distributors, suppliers and application geeks
- Venture capitalists and investors looking for more information on the future outlook of the global venipuncture needles market
- Consultants, analysts, researchers, and academicians looking for insights shaping the global venipuncture needles market
Venipuncture evolved from the practice of phlebotomy. Phlebotomy, the practice of bloodletting, has been practiced for centuries and is still one of the most common invasive procedures in healthcare. In this regard, the word "venipuncture" is much more modern, as it applies to the method of collecting blood for sampling and analysis by piercing the vein's wall with a needle rather than removing it with a lancet. Increase in adoption of venipuncture technique for blood collection for detecting and diagnosing infections in the bloodstream is expected to boost the overall demand for these needles. Venipuncture needles are available in various sizes ranging from 20-gauge to 22-gauge. 21-gauge needles are the most common gauge of needles used for routine blood draws and venipuncture. Increase in diagnostic tests for various diseases will drive market growth in the forecast period. Moreover, major industry players are focused on developing venipuncture needles in order to expand their product portfolio.
The global venipuncture needles market has been segmented based on vein type, end-user, and region. Based on vein type, the venipuncture needles market is segmented into cephalic vein, basilic vein, median cubital vein, and others. Median cubital vein segment held majority of the market share in 2019. The median cubital vein is the preferred choice for venipuncture since it is the largest and has a smaller propensity to move or roll as the needle is inserted. Since there are less nerve endings surrounding this vein, venipuncture is less painful at this site.
On the basis on end-user, the global venipuncture needles market is categorized into hospitals, diagnostic laboratories, physician’s office and others. Hospitals segment grabbed majority of the market share in 2019 owing to increase in incidence of infectious diseases that require blood collection and rapid rise in diagnostic tests and blood draws performed in these facilities. Diagnostic centers is anticipated to witness strong growth in the coming years.
The global venipuncture needles market is cumulative to North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America dominated the global venipuncture needles market in 2019. However, Asia Pacific is expected to grow at a highest pace through 2028.
Adoption of advanced technology, large number of diagnostic tests performed for the detection of various diseases in the U.S. are major factors expected to drive the demand for venipuncture needles in the region. Moreover, large number of blood draws in the U.S. will drive the growth of venipuncture needles market in the future. For instance, approximately 1.4 billion blood draws are performed annually in the country which is expected to drive the growth of the market in the region.
However, Asia Pacific is expected to grow at a rapid pace over the next few years. There is a strong growth potential in the emerging economies such as India, and China. The rapidly rising population, rise in diagnostic tests for diseases and increase in blood donation programs in countries such as India and China provides large market for venipuncture needles.