The needle market size has grown strongly in recent years. It will grow from $7.6 billion in 2023 to $8.21 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to the increased prevalence of chronic diseases, vaccination programs, surgical procedures, and government regulations.
The needle market size is expected to see strong growth in the next few years. It will grow to $11.2 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to the rising burden of chronic diseases, expansion of vaccination programs, growing demand for self-administration devices, government initiatives for improving healthcare access, and increasing healthcare expenditure. Major trends in the forecast period include technological advancements, integration of safety features, development of biodegradable and smart needles, customization, personalization, and the expansion of remote healthcare services.
The increasing number of ambulatory surgical centers (ASCs) is set to drive the growth of the needle market in the coming years. ASCs are specialized healthcare facilities that focus on providing outpatient surgical procedures, eliminating the need for overnight hospital stays. The rise in ASCs is attributed to technological advancements, the demand for outpatient procedures, and the appeal of specialized care. Needles play a vital role in ASCs, enabling various procedures such as injections, suturing, and tissue sampling. They are essential for delivering medications, drawing blood, and ensuring precise wound closure. For instance, a report by Olympus America Inc. in July 2023 revealed that ASCs increased from 6,109 facilities last year to 6,223 in 2023, with an expected 12% growth over the next five years. Thus, the growing number of ASCs is fueling the needle market's expansion.
Key players in the needle market are concentrating on developing innovative solutions, such as cutting-edge conventional transbronchial needles, to revolutionize minimally invasive diagnostics. These needles are advanced medical instruments used in bronchoscopy procedures to obtain tissue samples from the lungs or surrounding structures. For example, Broncus Medical Inc., a US-based medical device manufacturer, introduced the BIOSTAR in September 2023 - a cutting-edge conventional transbronchial needle aspiration (cTBNA) and endobronchial ultrasound (EBUS) TBNA (EBUS-TBNA) needle. The BIOSTAR needles offer superior diagnostic accuracy, sample adequacy, and sensitivity compared to conventional methods, especially for lung cancer staging and sarcoidosis diagnosis. They are available in sizes ranging from 25G to 19G, impacting sample quantity, blood aspiration, sample quality, and diagnostic yield. BIOSTAR needles represent a significant advancement in minimally invasive diagnostic procedures, enhancing patient care and diagnostic outcomes.
In January 2022, ICU Medical Inc., a US-based medical device provider, acquired Smiths Medical Inc. for an undisclosed sum. This acquisition aims to create a premier medical device and IV solutions company, extending ICU Medical's global presence and reinforcing its commitment to delivering excellence, innovation, and value to customers. Smiths Medical Inc. is a US-based manufacturer of needles used for medical injections and other applications.
Major companies operating in the needle market are Johnson & Johnson, Siemens AG, Thermo Fisher Scientific Inc., Abbott Laboratories, Medtronic PLC, Novo Nordisk AS, Merck KGaA, Becton Dickinson (BD), Stryker Corporation, Boston Scientific Corporation, Terumo Corporation, Ethicon US LLC, Illumina Inc., PerkinElmer Inc., Shimadzu Corporation, Smiths Medical, B. Braun AG, Bio-Rad Laboratories Inc., Cook Medical, QIAGEN N.V., Abcam PLC, Promega Corporation, Luminex Corporation, NIPRO Medical, Biotronik SE & Co. KG.
North America was the largest region in the needle market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the needle market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the needle market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Needles are slender, pointed instruments utilized in medical procedures for multiple purposes, including injections, blood collection, fluid aspiration, and tissue sampling. They typically consist of a hollow tube attached to a hub, which connects to a syringe or another medical device.
The primary types of needles are conventional needles and safety needles. Conventional needles refer to standard, non-safety needles used in medical procedures such as injections, blood draws, and other applications. These needles come in various materials such as stainless steel, plastic, glass, and peek, each used for specific applications such as surgical suture needles, pen needles for diabetes, blood collection needles, ophthalmic procedure needles, dental needles, insufflation needles, among others. They are utilized by various end-users such as hospitals, clinics, diagnostic centers, research institutions, home-based care, and others.
The needle market research report is one of a series of new reports that provides needle market statistics, including needle industry global market size, regional shares, competitors with a needle market share, detailed needle market segments, market trends and opportunities, and any further data you may need to thrive in the needle industry. This needle market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The needle market consists of sales of products including injection needles, intravenous (IV) catheters, lancets, and bone marrow biopsy needles. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The needle market size is expected to see strong growth in the next few years. It will grow to $11.2 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to the rising burden of chronic diseases, expansion of vaccination programs, growing demand for self-administration devices, government initiatives for improving healthcare access, and increasing healthcare expenditure. Major trends in the forecast period include technological advancements, integration of safety features, development of biodegradable and smart needles, customization, personalization, and the expansion of remote healthcare services.
The increasing number of ambulatory surgical centers (ASCs) is set to drive the growth of the needle market in the coming years. ASCs are specialized healthcare facilities that focus on providing outpatient surgical procedures, eliminating the need for overnight hospital stays. The rise in ASCs is attributed to technological advancements, the demand for outpatient procedures, and the appeal of specialized care. Needles play a vital role in ASCs, enabling various procedures such as injections, suturing, and tissue sampling. They are essential for delivering medications, drawing blood, and ensuring precise wound closure. For instance, a report by Olympus America Inc. in July 2023 revealed that ASCs increased from 6,109 facilities last year to 6,223 in 2023, with an expected 12% growth over the next five years. Thus, the growing number of ASCs is fueling the needle market's expansion.
Key players in the needle market are concentrating on developing innovative solutions, such as cutting-edge conventional transbronchial needles, to revolutionize minimally invasive diagnostics. These needles are advanced medical instruments used in bronchoscopy procedures to obtain tissue samples from the lungs or surrounding structures. For example, Broncus Medical Inc., a US-based medical device manufacturer, introduced the BIOSTAR in September 2023 - a cutting-edge conventional transbronchial needle aspiration (cTBNA) and endobronchial ultrasound (EBUS) TBNA (EBUS-TBNA) needle. The BIOSTAR needles offer superior diagnostic accuracy, sample adequacy, and sensitivity compared to conventional methods, especially for lung cancer staging and sarcoidosis diagnosis. They are available in sizes ranging from 25G to 19G, impacting sample quantity, blood aspiration, sample quality, and diagnostic yield. BIOSTAR needles represent a significant advancement in minimally invasive diagnostic procedures, enhancing patient care and diagnostic outcomes.
In January 2022, ICU Medical Inc., a US-based medical device provider, acquired Smiths Medical Inc. for an undisclosed sum. This acquisition aims to create a premier medical device and IV solutions company, extending ICU Medical's global presence and reinforcing its commitment to delivering excellence, innovation, and value to customers. Smiths Medical Inc. is a US-based manufacturer of needles used for medical injections and other applications.
Major companies operating in the needle market are Johnson & Johnson, Siemens AG, Thermo Fisher Scientific Inc., Abbott Laboratories, Medtronic PLC, Novo Nordisk AS, Merck KGaA, Becton Dickinson (BD), Stryker Corporation, Boston Scientific Corporation, Terumo Corporation, Ethicon US LLC, Illumina Inc., PerkinElmer Inc., Shimadzu Corporation, Smiths Medical, B. Braun AG, Bio-Rad Laboratories Inc., Cook Medical, QIAGEN N.V., Abcam PLC, Promega Corporation, Luminex Corporation, NIPRO Medical, Biotronik SE & Co. KG.
North America was the largest region in the needle market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the needle market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the needle market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Needles are slender, pointed instruments utilized in medical procedures for multiple purposes, including injections, blood collection, fluid aspiration, and tissue sampling. They typically consist of a hollow tube attached to a hub, which connects to a syringe or another medical device.
The primary types of needles are conventional needles and safety needles. Conventional needles refer to standard, non-safety needles used in medical procedures such as injections, blood draws, and other applications. These needles come in various materials such as stainless steel, plastic, glass, and peek, each used for specific applications such as surgical suture needles, pen needles for diabetes, blood collection needles, ophthalmic procedure needles, dental needles, insufflation needles, among others. They are utilized by various end-users such as hospitals, clinics, diagnostic centers, research institutions, home-based care, and others.
The needle market research report is one of a series of new reports that provides needle market statistics, including needle industry global market size, regional shares, competitors with a needle market share, detailed needle market segments, market trends and opportunities, and any further data you may need to thrive in the needle industry. This needle market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The needle market consists of sales of products including injection needles, intravenous (IV) catheters, lancets, and bone marrow biopsy needles. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Needle Market Characteristics3. Needle Market Trends and Strategies32. Global Needle Market Competitive Benchmarking33. Global Needle Market Competitive Dashboard34. Key Mergers and Acquisitions in the Needle Market
4. Needle Market - Macro Economic Scenario
5. Global Needle Market Size and Growth
6. Needle Market Segmentation
7. Needle Market Regional and Country Analysis
8. Asia-Pacific Needle Market
9. China Needle Market
10. India Needle Market
11. Japan Needle Market
12. Australia Needle Market
13. Indonesia Needle Market
14. South Korea Needle Market
15. Western Europe Needle Market
16. UK Needle Market
17. Germany Needle Market
18. France Needle Market
19. Italy Needle Market
20. Spain Needle Market
21. Eastern Europe Needle Market
22. Russia Needle Market
23. North America Needle Market
24. USA Needle Market
25. Canada Needle Market
26. South America Needle Market
27. Brazil Needle Market
28. Middle East Needle Market
29. Africa Needle Market
30. Needle Market Competitive Landscape and Company Profiles
31. Needle Market Other Major and Innovative Companies
35. Needle Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Needle Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on needle market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
- Assess the Russia - Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for needle? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The needle market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Type: Conventional Needles; Safety Needles2) By Material: Stainless Steel Needles; Plastic Needles; Glass Needles; Peek Needles
3) By Application: Surgical Suture Needles; Pen Needles In Diabetes; Blood Collection Needles; Ophthalmic Procedure Needles; Dentistry Needles; Insufflation Needles; Other Needles
4) By End User: Hospital; Clinics; Diagnostic Centers; Research Institutions; Home-Based Care; Other End Users
Key Companies Mentioned: Johnson & Johnson; Siemens AG; Thermo Fisher Scientific Inc.; Abbott Laboratories; Medtronic PLC
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Johnson & Johnson
- Siemens AG
- Thermo Fisher Scientific Inc.
- Abbott Laboratories
- Medtronic PLC
- Novo Nordisk AS
- Merck KGaA
- Becton Dickinson (BD)
- Stryker Corporation
- Boston Scientific Corporation
- Terumo Corporation
- Ethicon US LLC
- Illumina Inc.
- PerkinElmer Inc.
- Shimadzu Corporation
- Smiths Medical
- B. Braun AG
- Bio-Rad Laboratories Inc.
- Cook Medical
- QIAGEN N.V.
- Abcam PLC
- Promega Corporation
- Luminex Corporation
- NIPRO Medical
- Biotronik SE & Co. KG
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 175 |
Published | July 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 8.21 Billion |
Forecasted Market Value ( USD | $ 11.2 Billion |
Compound Annual Growth Rate | 8.1% |
Regions Covered | Global |