What Is The Current and Historic Market Size Analysis Of The Needle Market?
The needle market has seen considerable growth due to a variety of factors.
• The needle market has grown steadily in recent years. It will grow from $8.21 billion in 2024 to $8.89 billion in 2025, at a CAGR of 8.3%.
Growth is driven by the increased prevalence of chronic diseases, vaccination programs, surgical procedures, and government regulations.
What Is The Forecast For The Needle Market Size?
The needle market is expected to maintain its strong growth trajectory in upcoming years.
• The needle market is forecast to grow to $12.09 billion by 2029 at a CAGR of 8.0%.
This growth is attributed to the rising prevalence of chronic diseases, the expansion of vaccination programs, and growing demand for self-administration devices. Trends include technological advancements, safety features, biodegradable needles, and innovations in remote healthcare.
What Are The Essential Drivers Behind The Growth Of The Needle Market?
The rising number of ambulatory surgical centers is expected to propel the growth of the needle market. Ambulatory surgical centers are growing due to advancements in technology and the demand for outpatient procedures. Needles are essential for a wide range of procedures in these centers. Olympus America Inc. reported a 12% growth projection for ASCs over the next five years. This increase in ASCs is driving the growth of the needle market.
How Is The Global Needle Market Divided Into Key Segments?
The needle market covered in this report is segmented –
1) By Type: Conventional Needles, Safety Needles
2) 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
Subsegments:
1) By Conventional Needles: Hypodermic Needles, Intravenous (Iv) Needles, Insulin Needles, Blood Collection Needles
2) By Safety Needles: Safety Hypodermic Needles, Safety Insulin Needles, Safety Blood Collection Needles, Auto-Disable Safety Needles
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What Emerging Trends Are Influencing The Growth Of The Needle Market?
Leading firms in the needle market are shifting their focus towards the invention of groundbreaking solutions like top-notch conventional transbronchial needles, in a bid to revolutionize minimally invasive diagnostics. These state-of-the-art conventional transbronchial needles serve as advanced medical tools during bronchoscopy procedures to obtain lung tissue samples or those from nearby structures. Back in September 2023, a US-based medical equipment manufacturer Broncus Medical Inc., launched the BIOSTAR that showcases cutting-edge conventional transbronchial needle aspiration (cTBNA) and endobronchial ultrasound (EBUS) TBNA (EBUS-TBNA) needles, reshaping minimally invasive diagnostic techniques. The ground-breaking design of these needles exceeds the diagnostic accuracy, sample sufficiency, and sensitivity of traditional methods, specifically in lung cancer staging and sarcoidosis diagnosis. Needle sizes on offer are 25G, 22G, 21G, and 19G and the size affects sample volume, blood aspiration, sample quality, and diagnostic yield. The needles from BIOSTAR present a notable progression in minimally invasive diagnostic processes, thereby improving patient care and diagnostic results.
Who Are the Key Players In The Needle Market?
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
What Are The Regional Insights Into The Needle Market?
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.
