Needles Market Size, Demand, Analysis and Opportunity forecast 2022

Needles Market Size, Demand, Analysis and Opportunity forecast 2022

The growing geriatric population, increasing number of hospitals in emerging markets, high prevalence of chronic diseases, and increasing demand for Vaccines are the major factors driving the growth of the needles market across the globe.

This report broadly segments the needles market into type, products, material, delivery mode, and end user.

The global needles market is projected to reach USD 8.47 Billion by 2022 from USD 5.82 Billion in 2017, at a CAGR of 7.8% during the forecast period.

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Top Key Players

Hamilton Company (U.S.), Medtronic plc (Ireland), Becton, Dickinson and Company (U.S.), Stryker Corporation (U.S.), B. Braun Melsungen AG (Germany), Boston Scientific Corporation (U.S.), Terumo Corporation (Japan), Novo Nordisk A/s (Denmark), Smiths Medical (U.K.), and Thermo Fisher Scientific (U.S.) are some of the key players in the global needles market.

These players are striving to expand their presence in the emerging countries of Asia and the Middle East & North Africa (MENA) region through product launches, partnerships, product approvals, and collaborations.

However, the rising needlestick injuries and infections, use of needle-free technology, and growing focus on the development of alternative drug delivery methods are the major factors that are expected to restrain the growth of this market.

Stakeholders

• Needle manufacturers, suppliers, and distributors
• Injectable device manufacturers, suppliers, and distributors
• Healthcare institutions (hospitals and outpatient clinics)
• Clinical centers
• Pharmaceuticals companies
• Medical research laboratories
• Consulting firms

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On the basis of type, the global needles market is segmented into two broad categories, namely, conventional needles and safety needles. The global safety needles segment is expected to grow at a higher CAGR from 2017 to 2022, owing to the increasing awareness regarding the use of safety syringes and need to reduce needlestick injuries.

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