NEEDLES MARKET:
As per Roots Analysis, the global needles market size is estimated to grow from USD 8.1 billion in the current year to USD 14.7 billion by 2035, at a CAGR of 6.1% during the forecast period, till 2035.
The opportunity for needles market has been distributed across the following segments:
- Type of Needle based on Design
- Conventional Needles
- Safety Needles
- Type of Needle based on Purpose
- Syringe Needles
- Suture Needles
- Pen Needles
- Autoinjector Needles
- Blood Collection Needles
- Others
- Type of Material
- Stainless Steel
- Plastic
- Others
- Mode of Delivery
- Subcutaneous
- Intramuscular
- Intravenous
- Intradermal
- Others
- End Users
- Hospitals and Clinics
- Diagnostic Centers
- Home Healthcare
- Others
- Geographical Regions
- North America (US, Canada and Mexico)
- Europe (Germany, France, UK, Italy, Spain and Rest of Europe)
- Asia-Pacific (China, Japan, India and Rest of Asia-Pacific)
- Midde East and North Africa (Egypt, Saudi Arabia and UAE)
- Latin America (Brazil and Argentina)
- Leading Players
NEEDLES MARKET: GROWTH AND TRENDS
Over the years, increasing prevalence of chronic diseases, such as autoimmune diseases, diabetes, cancer, and heart diseases, has led to reduced mobility and increased mortality among the patients. A recent report from the Center for Managing Chronic Disease at the University of Michigan indicated that more than 50% of the US population is suffering from at least one type of chronic disease. Needles play a vital role in managing chronic diseases owing to their accuracy and effectiveness in providing targeted treatment and facilitating diagnostic procedures, thereby increasing their demand.
Over the centuries, needles have been an indispensable tool used in healthcare, playing a crucial role in various medical procedures, such as administering medication, extracting fluid samples and in wound closure procedures. Moreover, extensive R&D in this domain has led to the development and commercialization of several advanced needles, such as pen needles that are finer and less painful. These innovations have enhanced the use of needles across hospitals, diagnostic centers and homecare settings, making them vital for a wide range of therapeutic deliveries.
Driven by the benefits offered by needles and the increasing need for effective disease management, routine diagnosis and vaccination programs, the demand for needles is increasing at a steady pace. Moreover, owing to continuous improvement in material science, design and manufacturing techniques, the development and application of needles is anticipated to expand, positioning the market for healthy growth in the forthcoming years.
NEEDLES MARKET: KEY INSIGHTS
The report delves into the current state of the needles market and identifies potential growth opportunities within the industry. Some key findings from the report include:
1.Currently, over 475 companies are engaged in the manufacturing and development of needles, with more than 30% of these players headquartered in China.
2.Stainless steel has emerged as the preferred material for needle development due to its high tensile strength, durability and resistance to corrosion, thereby ensuring greater precision and safety in medical procedures.
3.In pursuit of a competitive edge, stakeholders are actively upgrading their existing capabilities and enhancing their needle portfolios to meet evolving industry standards.
4.Close to 40% of the deals have been inked in the last two years, demonstrating a considerable increase in partnership activity during the given period; of these, 60% were international deals.
5.Around 765 patents related to needles have been filed / granted to various industry and non-industry players in order to protect the intellectual property generated within this field.
6.The market opportunity associated with needles is likely to witness an annualized growth rate of 6.1% till 2035, owing to the growing demand for injectable therapies.
7.The needles market opportunity is expected to be well distributed across different types of materials, modes of delivery and end users.
NEEDLES MARKET: KEY SEGMENTS
Safety Needles is the Fastest Growing Segment of the Needles Market
Based on the types of needles based on design, the global needles market is segmented into conventional needles and safety needles. Currently, the majority share of the needles market is captured by conventional needles. It is worth mentioning that the safety needles segment is likely to grow at a higher CAGR in the coming years.
Syringe Needles Segment is Likely to Dominate the Needles Market During the Forecast Period
Based on the types of needles based on purpose, the global needles market is distributed across syringe needles, suture needles, pen needles, autoinjector needles, blood collection needles and others. Currently, the syringe needles segment is likely to dominate the overall market, owing to their wide range of applications in various medical procedures.
Subcutaneous Mode of Delivery Segment is Likely to Hold the Largest Share of the Needles Market During the Forecast Period
Based on the mode of delivery, the global needles market is segmented into subcutaneous mode, intramuscular mode, intravenous mode, intradermal mode and others. Currently, the market is likely to be dominated by the subcutaneous mode of delivery segment. This can be attributed to the fact that subcutaneous mode of delivery facilitates faster absorption of medications into the bloodstream, thereby resulting in a rapid therapeutic action than the other delivery systems.
By Type of Material, Stainless Steel Segment is Likely to Dominate the Market During the Forecast Period
Based on the type of material, the global needles market is distributed across stainless steel, plastic and others. Notably, stainless steel is the preferred material for manufacturing needles owing to its high strength and durability and thus, it is likely to dominate the needles market during the forecast period.
Currently, Hospitals and Clinics Segment Hold the Largest Share of the Needles Market
Based on the end users, the global needles market is segmented into hospitals and clinics, diagnostic centres, home healthcare and others. Currently, the hospitals and clinics segment hold the highest share of the overall market, owing to the increasing number of healthcare facilities in emerging economies. Notably, this trend is unlikely to change during the forecast period.
Asia-Pacific Accounts for the Largest Share of the Market
Based on geographical regions, the global needles market is segmented into North America, Europe, Asia-Pacific, Middle East and North Africa, and Latin America. In the current scenario, Asia-Pacific is likely to capture the largest market share which can be attributed to the growing investment in research and development within the medical devices sector in this region.
Example Players in the Needles Market
- BD
- Medtronic
- Olympus
- Themo Fisher Scientific
- B. Braun
- BIOTRONIK
- Gerresheimer
- Novo Nordisk
- Roche
- Lars Medicare
- SB-KAWASUMI LABORATORIES
- Wuzhou Medical
- Aleda Makina
- DALI Medical Devices
- Geotek
- MEDEREN Neotech
NEEDLES MARKET: RESEARCH COVERAGE
The report on needles market features insights on various sections, including:
- Market Sizing and Opportunity Analysis: An in-depth analysis of the needles market, focusing on key market segments, including [A] type of needle based on design, [B] type of needle based on purpose, [C] mode of delivery, [D] type of material, [E] end user, [F] geographical region and [G] leading players.
- Market Impact Analysis: A thorough analysis of various factors, such as drivers, restraints, opportunities, and existing challenges that are likely to impact market growth.
- Needle Providers Market Landscape: A comprehensive evaluation of the companies engaged in this domain, based on several relevant parameters, such as [A] company size, [B] location of headquarters, [C] location of manufacturing unit, [D] type of needle based on design, [E] type of needle based on usability, [F] type of material, [G] type of needle based on purpose. Additionally, this section also features analyses of these companies based on [A] mode of delivery and [B] end-users.
- Company Competitiveness Analysis: An insightful competitiveness analysis of needle providers based on various relevant parameters, such as [A] company strength, [B] portfolio strength, and [C] portfolio diversity.
- Company Profiles: Elaborate profiles of prominent needle providers across various geographies, including North America, Europe, Asia-Pacific and Middle East and North Africa and rest of the world, providing details on [A] company overview, [B] financial information (if available), [C] needles product portfolio, [D] recent developments and [E] an informed future outlook.
- Partnerships and Collaborations: An insightful analysis of the deals inked by stakeholders in needles market, based on several parameters, such as [A] year of partnership, [B] type of partnership, [C] type of partner, [D] type of needle based on design, [E] type of needle based on purpose, [F] most active players and [G] geographical distribution of partnership activity.
- Patent Analysis: An in-depth analysis of patents filed / granted till date in the needles domain, based on various relevant parameters, such as [A] type of patent, [B] publication year, [C] CPC symbols, [D] patent jurisdiction, [E] type of applicant, [F] leading industry players, [G] patent benchmarking, [H] patent valuation analysis, and [I] leading patents.
KEY QUESTIONS ANSWERED IN THIS REPORT
- How many companies are currently engaged in this market?
- Which are the leading companies in this market?
- What factors are likely to influence the evolution of this market?
- What is the current and future market size?
- What is the CAGR of this market?
- How is the current and future market opportunity likely to be distributed across key market segments?
- What type of partnership models are commonly adopted by industry stakeholders?
- What is the patent filing activity in the market?
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