Needles Market Size, Share, Industry Trends and Forecast to 2030

Needles Market Size & CAGR in 2021

The global needles market size in 2021 was valued at USD 5.7 billion, with a Compound Annual Growth Rate (CAGR) of 4.5% from 2021 to 2027. The market is expected to reach USD 7.2 billion by 2027. The increasing prevalence of chronic diseases, rising demand for minimally invasive procedures, and technological advancements in the healthcare sector are driving the growth of the needles market.

COVID-19 Impact on the Needles Market

The COVID-19 pandemic has significantly impacted the needles market. The surge in the number of COVID-19 cases increased the demand for medical supplies, including needles, for vaccination programs and diagnostic testing. The disruption in the global supply chain and manufacturing operations due to lockdowns and restrictions also affected the availability of needles in the market. However, the market witnessed a temporary spike in demand, followed by a gradual recovery as healthcare systems adapted to the new normal.

Needles Dynamics

The needles market is dynamic and driven by various factors such as technological advancements, product innovation, increasing healthcare expenditure, and the growing prevalence of chronic diseases. The market is characterized by intense competition among key players, strategic collaborations, mergers, and acquisitions to expand their product portfolio and market presence. Continuous research and development activities in needle technology and material are also shaping the market dynamics.

Segments and Related Analysis

By Type:

1. Conventional Needles
2. Safety Needles
3. Pen Needles
4. Suture Needles

By Application:

1. Hospitals
2. Clinics
3. Ambulatory Surgical Centers
4. Homecare Settings

By Region Analysis

North America

North America dominated the global needles market in 2021, driven by the presence of key market players, technological advancements, and a well-established healthcare infrastructure. The increasing prevalence of chronic diseases and rising healthcare expenditure in the region further contribute to market growth.

Europe

Europe is a significant market for needles, with a strong focus on research and development activities in healthcare. The region's stringent regulatory framework and increasing adoption of advanced needle technologies propel market growth in Europe.

Asia Pacific

The Asia Pacific region is witnessing rapid growth in the needles market due to the increasing healthcare infrastructure, rising disposable income, and growing awareness about the benefits of minimally invasive procedures. The presence of a large patient population and expanding medical tourism further drive market expansion in Asia Pacific.

Latin America

Latin America is a developing market for needles, with improving healthcare facilities and increasing government initiatives to enhance healthcare accessibility. The rising prevalence of chronic diseases and the growing demand for advanced medical devices contribute to market growth in Latin America.

Middle East and Africa

The Middle East and Africa region are witnessing steady growth in the needles market, driven by rising healthcare investments, infrastructure development, and a growing emphasis on healthcare quality and patient safety. The expanding healthcare sector and increasing awareness about disease prevention boost market growth in the region.

Key Market Players and Competitive Landscape

1. Becton, Dickinson and Company
2. Terumo Corporation
3. B. Braun Melsungen AG
4. Smiths Medical
5. Nipro Corporation
6. Boston Scientific Corporation
7. Novo Nordisk A/S
8. Ethicon Inc. (Johnson & Johnson)
9. Medtronic plc
10. Cardinal Health, Inc.

The needles market is highly competitive, with key players focusing on product development, strategic partnerships, and acquisitions to strengthen their market position. Continuous innovation in needle technology, quality control, and compliance with regulatory standards are the key strategies adopted by market players to stay ahead in the competitive landscape.

Recent Happenings in the Needles Market

1. In June 2021, Becton, Dickinson, and Company announced the launch of a new range of safety needles with advanced features for enhanced patient safety and healthcare worker protection.
2. In August 2021, Terumo Corporation introduced a new line of pen needles with ergonomic design and needle technologies to improve patient comfort and insulin delivery.
3. In October 2021, B. Braun Melsungen AG collaborated with a leading healthcare organization to develop innovative suture needles with improved efficiency and precision for surgical procedures.
4. In December 2021, Smiths Medical expanded its product portfolio with the introduction of novel safety needles for intravenous therapy to reduce the risk of needlestick injuries in healthcare settings.
5. In February 2022, Nipro Corporation launched a new series of safety needles with a focus on minimizing needle-related injuries and enhancing infection control measures in clinical settings.