Amid the COVID-19 crisis, the global market for Special Purpose Needles estimated at US$10.2 Billion in the year 2020, is projected to reach a revised size of US$15.5 Billion by 2027, growing at a CAGR of 6.2% over the analysis period 2020-2027. Hypodermic Needles, one of the segments analyzed in the report, is projected to record a 6.2% CAGR and reach US$3.6 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Pen Needles segment is readjusted to a revised 7.7% CAGR for the next 7-year period.
The U.S. Market is Estimated at $2.8 Billion, While China is Forecast to Grow at 9.5% CAGR
The Special Purpose Needles market in the U.S. is estimated at US$2.8 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$3.3 Billion by the year 2027 trailing a CAGR of 9.4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.4% and 5.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.9% CAGR.
Blood Collection Needles Segment to Record 4.9% CAGR
In the global Blood Collection Needles segment, USA, Canada, Japan, China and Europe will drive the 4.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$904.6 Million in the year 2020 will reach a projected size of US$1.2 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$2.1 Billion by the year 2027, while Latin America will expand at a 5.9% CAGR through the analysis period. We bring years of research experience to this 18th edition of our report. The 448-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Competitors identified in this market include, among others:
- Argon Medical Devices, Inc.
- B. Braun Medical, Inc.
- Becton, Dickinson and Company
- Dentsply Sirona
- ETHICON, Inc.
- INRAD, Inc.
- Medline Industries, Inc.
- Medtronic, Inc.
- MIFAM SA
- Smiths Medical International Limited
- Surgical Specialties Corporation
- TERUMO Corporation
The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Special Purpose Needles - A Review
Recent Market Activity
Global Competitor Market Shares
Special Purpose Needles Competitor Market Share Scenario Worldwide (in %): 2020 & 2029
Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
Argon Medical Devices, Inc. (USA)
Becton, Dickinson and Company (USA)
B. Braun Medical, Inc. (USA)
Dentsply Sirona (USA)
Medtronic, Inc. (USA)
ETHICON, Inc. (USA)
INRAD, Inc. (USA)
Medline Industries, Inc (USA)
MIFAM SA (Poland)
Smiths Medical International Limited (UK)
Surgical Specialties Corporation (Canada)
TERUMO Corporation (Japan)
3. MARKET TRENDS & DRIVERS
Emerging Markets - Focal Point for Future Growth
Home and Alternate Healthcare Drive Growth
Legislations to Curb Needle Stick Injuries Drive Demand for Safety Syringes and Needles
Rising Incidence of Hospital Acquired Infections Propels Demand for Safety Needles
Rise in Number of Surgeries Buoys Growth
Pain Free Shots - A Growing R&D Domain
Smaller Gauge Needles - A Persistent Trend
Surgical Needles Focus on Better Coatings and Material
Innovations Foster Growth in Dental Needles Market
Automatic Core Biopsy Needle Devices Transform Needle Biopsy
Innovations Continue in Hypodermic Needles Segment
Growing use of Self-Injection Devices to Boost Growth
Pen Needles Gain Traction
Parenteral Drug Delivery Offer Opportunities
Needleless Systems Pose Threat to Traditional Syringes
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
GEOGRAPHIC MARKET ANALYSIS
Market Facts & Figures
US Special Purpose Needles Market Share (in %) by Company: 2020 & 2025
Market Facts & Figures
European Special Purpose Needles Market: Competitor Market Share Scenario (in %) for 2020 & 2025
REST OF EUROPE
REST OF ASIA-PACIFIC
REST OF LATIN AMERICA
UNITED ARAB EMIRATES
REST OF MIDDLE EAST
Total Companies Profiled: 97