Global Needles Market was valued US$6.27 Bn in 2019 and is expected to reach US$XX Bn by 2026, at a CAGR of XX % during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
The major driving factors of the global needles market are increasing the adoption of injectable drugs, rising demand for injection, increasing medical costs, and growing demand for hormone supplements. Moreover, the growing demand for point-of-care diagnostic products also propels the demand for needles across the globe.
Furthermore, owing to the benefits of injectable drugs over tablet formulations, companies are focusing on the development of injectable drug delivery systems, including syringes and needles. Various pharmaceutical and biotechnology companies are continuously involved in the development of effective and novel injectable drugs for the treatment of chronic diseases, which is boosting the growth of the global needles market. Rising demand for self-injectable and use of safety needles are created opportunities for the players in the needles industry. Self-injectable are highly useful in emergency conditions, such as allergies; and chronic diseases, like diabetes and rheumatoid arthritis.
However, high risks of infections associated with the administration of drug delivery by needles obstruct the growth of the global needles market. In addition, increased risk of needlestick injuries and the availability of alternatives also hampers the growth of the global needles market. The report contains a detailed list of factors that will drive and restrain the growth of the glass recycling market.
Based on type, the conventional needles market is estimated to command the larger share of the global needles market due to growing demand for biosimilar products, the increasing incidence of chronic disease and the expanding injectable market are the key factors contributing to the growth of the conventional needles market segment.
By product, the blood collection needles segment is expected to grow at a significant CAGR during the forecast period due to the increasing number of blood donations and technological advancements in blood collection sets are driving the growth of the blood collection needles market segment.
In terms of delivery mode hypodermic needles segment is expected to account for the largest share of the needles market owing to the needles are used for injecting the drug into the subcutaneous layer, this enables the quick absorption of active compounds into the bloodstream, which is a key factor contributing to the market growth of delivery mode market segment.
North America held the largest share of the global needles market, followed by Europe due to the rising incidence of chronic diseases, initiatives by different organizations for the reduction in blood-borne infections, and increasing prevalence of cardiovascular diseases.
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The objective of the report is to present a comprehensive analysis of the Global Needles Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Needles Market dynamics, structure by analyzing the market segments and project the Global Needles Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Needles Market make the report investor’s guide.
Scope of Global Needles Market:
Global Needles Market by Type:
• Conventional Needles
• Bevel Needles
• Blunt Fill Needles
• Filter Needles
• Vented Needles
• Safety Needles
• Active needles
• Passive Needles
Global Needles Market by Product Type:
• Suture Needles
• Blood Collection Needles
• Ophthalmic Needles
• Dental Needles
• Insufflation Needles
• Pen Needles
• Other Needles
Global Needles Market by Delivery Mode:
• Hypodermic Needles
• Intravenous Needles
• Intramuscular Needles
• Intraperitoneal Needles
Global Needles Market by Material:
• Stainless Steel Needles
• Plastic Needles
• Glass Needles
• PEEK Needles
Global Needles Market by End-User:
• Hospitals & Clinics
• Diagnostic Centers
• Home Healthcare
Global Needles Market by Region:
• North America
• Middle East & Africa
• Asia Pacific
• Latin America
Key players operating in Global Needles Market:
• Dickinson & Company
• Medtronic plc
• Hamilton Company
• Stryker Corporation
• Terumo Corporation
• B. Braun Melsungen AG
• Boston Scientific Corporation
• Nipro Medical Corporation
• Novo Nordisk A/s
• Thermo Fisher Scientific
• Smiths Medical
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