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Special Purpose Needles - Global Market Trajectory & Analytics

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    Report

  • 601 Pages
  • July 2022
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 338826

Global Special Purpose Needles Market to Reach US$15.9 Billion by the Year 2026


Needles and syringes are sterile medical devices that help inject fluids into or remove secretions from various parts of the body. These sharp instruments are used for puncturing, suturing, or guiding ligatures through or around a vessel. Using advanced production techniques, some of the most sophisticated special purpose needles, which provide enhanced comfort and safety, are being manufactured. Growth in the medical needles market is primarily driven by factors including rise in incidence of infectious diseases, an aging population and rise in prevalence of chronic diseases such as cancer and diabetes, rise in surgery volumes and increasing prevalence of spine-related disorders. Other factors impacting demand include advancements in product designs, favorable demographic trends, increased emphasis on preventing hospital acquired infections (HAIs), and improving healthcare infrastructure and services across developing countries. Global market for safety needles is influenced by the strong emphasis on user safety and growing demand for cost effective solutions. The market is essentially driven by snowballing healthcare industry concerns over needle stick injuries and worker safety. Needle technology has also advanced over the past decades from large syringe needles which had to be sterilized and sharpened by hand to pen needles and other smaller needles that are thin, small and engineered to offer improved penetration with less friction and more glide. Needles are re-designed to enable light insertion force, improved control, superior accuracy, and smoother penetration with less tissue displacement.

Amid the COVID-19 crisis, the global market for Special Purpose Needles estimated at US$11.8 Billion in the year 2022, is projected to reach a revised size of US$15.9 Billion by 2026, growing at a CAGR of 8.5% over the analysis period. Hypodermic Needles, one of the segments analyzed in the report, is projected to grow at a 13.6% CAGR to reach US$5.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Pen Needles segment is readjusted to a revised 7.8% CAGR for the next 7-year period. This segment currently accounts for a 21.1% share of the global Special Purpose Needles market. Hypodermic needles are hollow needles used for subcutaneous injections and for aspiration. The needles are made of stainless steel and have durable and sharper penetration surface for easy hypodermic access. Pen needle systems and pens, already the preferred mode of delivery for insulin in diabetics in developed countries, is gaining traction across the global markets. A pen needle comprises a hollow needle embedded in plastic case. Advanced pen needles come with sophisticated features and offered in different shapes and sizes as per end-use requirements.

The U.S. Market is Estimated at $3.9 Billion in 2022, While China is Forecast to Reach $1.2 Billion by 2026


The Special Purpose Needles market in the U.S. is estimated at US$3.9 Billion in the year 2022. The country currently accounts for a 33.1% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$1.2 Billion in the year 2026 trailing a CAGR of 9.9% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.6% and 7.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 8.2% CAGR while Rest of European market (as defined in the study) will reach US$1.3 Billion by the end of the analysis period. While developed regions especially the US and Europe remain the dominant forces in the global special purpose needles market, developing market such as Asia-Pacific emerge as key growth drivers given the rapidly evolving healthcare sector in various countries across the region. Key market drivers in the emerging economies include large groups of patients in need of medical procedures and tests, growing awareness among people, implementation of stringent infection control standards, growing emphasis on offering high quality medical services to patients, increasing investment in R&D and healthcare infrastructure.

Blood Collection Needles Segment to Reach $1.5 Billion by 2026


Blood collection needles are used to perform venipuncture for the purpose of collecting blood samples. They generally include an attached pivoting shield, which the user activates after venipuncture, for preventing accidental needlestick injuries. In the global Blood Collection Needles segment, USA, Canada, Japan, China and Europe will drive the 5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$925.5 Million will reach a projected size of US$1.3 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$128.4 Million by the year 2026, while Latin America will expand at a 5.7% CAGR through the analysis period.

Select Competitors (Total 103 Featured):

  • Argon Medical Devices, Inc.
  • B. Braun Medical, Inc.
  • Becton, Dickinson and Company
  • Dentsply Sirona
  • Injeq Oy
  • INRAD, Inc.
  • Johnson & Johnson
  • Medline Industries, Inc
  • Medtronic, Inc.
  • Smiths Medical International Limited
  • Surgical Specialties Corporation
  • TERUMO Corporation

What`s New for 2022?

  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to the digital archives
  • Complimentary updates for one year
Frequently Asked Questions about the Global Market for Special Purpose Needles

What is the estimated value of the Global Market for Special Purpose Needles?

The Global Market for Special Purpose Needles was estimated to be valued at $11.8 Billion in 2022.

What is the growth rate of the Global Market for Special Purpose Needles?

The growth rate of the Global Market for Special Purpose Needles is 7.7%, with an estimated value of $15.9 Billion by 2026.

What is the forecasted size of the Global Market for Special Purpose Needles?

The Global Market for Special Purpose Needles is estimated to be worth $15.9 Billion by 2026.

Who are the key companies in the Global Market for Special Purpose Needles?

Key companies in the Global Market for Special Purpose Needles include Argon Medical Devices, Inc., B. Braun Medical, Inc., Becton, Dickinson and Company, Dentsply Sirona, Injeq Oy, INRAD, Inc., Johnson & Johnson, Medline Industries, Inc and Smiths Medical International Limited.

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession
  • 2020: A Year of Disruption & Transformation
  • As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed in 2021
  • World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
  • How Healthcare Has Been Impacted & Beyond COVID-19 What’s In Store for Healthcare?
  • Missed Cancer Diagnosis in U.S. as of June 2020
  • Cumulative Surgery Cancellations Worldwide (In Million)
  • Cumulative Surgery Cancellations Worldwide (In Million)
  • With the COVID-19 Pandemic Exposing Global Healthcare Unpreparedness, There is Increasing Policy Led Focus on Rebooting Health Systems Worldwide: Current & Required Healthcare Spending as % of GDP
  • Elective Surgeries Report Roller-Coaster Ride Amid COVID-19
  • COVID-19 Vaccination Programs Drive Demand for Needles & Syringes
  • Special Purpose Needles - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • Special Purpose Needles: A Prelude
  • History OF Needles and Syringes
  • Types of Needles
  • Emerging Markets: Focal Point for Future Growth
  • Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Innovations to Support Growth in Hypodermic Needles Market
  • Home and Alternate Healthcare: An Expanding Segment
  • Aging-In Place Gains in Popularity
  • Legislations Curb Needle Stick Injuries Drive Demand for Safety Syringes and Needles
  • Rising Incidence of Hospital Acquired Infections Propels Demand for Safety Needles
  • Leading Nosocomial Infections in the US: Percentage Breakdown of Healthcare Cost from Leading Five Infections
  • Onset of Microneedles Pose a Challenge to Hypodermic Needles\
  • Rise in Number of Surgeries Buoys Growth
  • Global Volume of Surgical Procedures (in Million) by Category: 2019
  • Growth in the Number of Surgeries in the US (2010-2020) and 2001-2010 (in %)
  • Number of Surgical Procedures (per 100,000 People) in Select Countries
  • Pain Free Shots: A Growing R&D Domain
  • Fear of Needles: A Key Challenge for Covid-19 Vaccination Efforts
  • Needle-Free Innovations to Make Hypodermic Needles Go into Oblivion
  • Smaller Gauge Needles: A Persistent Trend
  • Surgical Needles Focus on Better Coatings and Material
  • Innovations Foster Growth in Dental Needles Market
  • Increasing Incidence of Cancer Drives Demand for Biopsy Needles
  • Global Cancer Prevalence Statistics: Opportunity Indicators
  • Global Cancer Incidence: Number of New Cancer Cases in Million for the Years 2018, 2020, 2025, 2030, 2035 and 2040
  • Global Breakdown of Total Number of Cancer Cases by Type: 2020
  • Automatic Core Biopsy Needle Devices Transform Needle Biopsy
  • Ultrasonically Oscillating Needles Designed to Improve Cancer Management
  • Smart Needles to Revolutionize Cancer Diagnosis
  • Breast Biopsies Receive a Setback from Needle Shortages & Delay in Procedures
  • Rising Incidents of Spinal & Neurological Conditions Keeps Spinal Needles Market in Good Shape
  • Spinal Surgery to Benefit from Technological Advancements
  • Growing use of Self-Injection Devices to Boost Growth
  • Pen Needles Gain Traction as Insulin Pens Rise in Popularity for Administering Insulin
  • Smart Insulin Pens: A Growing Area of Interest
  • Increasing Role of Self-Injection Devices in Diabetes Management
  • Needle-Free Alternatives: A Growing Threat
  • Rise in Diabetic Population Continues to Drives Demand for Pen Needles
  • Diabetes Prevalence Worldwide by Region: Number of Adults (20-79 Years) with Diabetes in 2015 and 2040
  • World Diabetes and Population Statistics (2019, 2030 & 2045)
  • Parenteral Drug Delivery Offer Opportunities
  • Needleless Systems Pose Threat to Traditional Syringes
  • Low Dead Space Needles Face Notable Demand-Supply Gap amid COVID-19
  • Innovations Foster Growth in Dental Needles Market
  • COVID-19 Impact on Dental Care Market
  • Laparoscopy Market to Regain Momentum Following Brief, COVID-19-Induced Hiatus
  • MACRO GROWTH DRIVERS
  • Consistent Rise in Healthcare Spending Worldwide to Drive Market Opportunities
  • World Healthcare Expenditure (In US$ Trillion) for the Years for 2017, 2019, 2021 and 2023
  • Aging Population and Growing Number of Surgical Procedures Spur Demand
  • Global Aging Population Statistics for the 65+ Age Group in Million by Geographic Region for the Years 2019, 2025, 2035 and 2050
4. GLOBAL MARKET PERSPECTIVEIII. MARKET ANALYSIS
UNITED STATES
  • Special Purpose Needles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
CANADA
JAPAN
  • Special Purpose Needles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
CHINA
  • Special Purpose Needles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
EUROPE
  • Special Purpose Needles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
FRANCE
  • Special Purpose Needles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)
GERMANY
  • Special Purpose Needles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)
ITALY
UNITED KINGDOM
  • Special Purpose Needles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)
SPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
  • Special Purpose Needles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
AUSTRALIA
  • Special Purpose Needles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)
INDIA
  • Special Purpose Needles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)
SOUTH KOREAREST OF ASIA-PACIFIC
LATIN AMERICA
  • Special Purpose Needles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)
ARGENTINABRAZILMEXICOREST OF LATIN AMERICA
MIDDLE EAST
  • Special Purpose Needles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)
IRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EAST
AFRICA
  • Special Purpose Needles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)
IV. COMPETITION
  • Total Companies Profiled: 103

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Argon Medical Devices, Inc.
  • B. Braun Medical, Inc.
  • Becton, Dickinson and Company
  • Dentsply Sirona
  • Injeq Oy
  • INRAD, Inc.
  • Johnson & Johnson
  • Medline Industries, Inc
  • Medtronic, Inc.
  • Smiths Medical International Limited
  • Surgical Specialties Corporation
  • TERUMO Corporation