Global Needles Market Size To Grow USD 9.04 billion By 2025

Global Needles Market Size (2020 to 2025)

The global needles market size was worth USD 6.24 billion in 2020. This value is further forecasted to be growing at a CAGR of 7.7% and worth USD 9.04 billion by the end of 2025.

Innovative needle advancements energize the needle's business growth. A few advances in needles have been made to prevent needlestick cuts and infection spread. Furthermore, the most recent advanced needles, such as the Inject Protection Syringe, have increased security and are consistent with the guidelines. Prefilled needles, needleless syringes, and pen needles are examples of technological advances that are driving the global needles industry forward. Furthermore, the advancement in needle engineering has reduced the amount of discomfort and anxiety felt during infusions. Certain therapy regimens are associated with pain and pressure, in which various mental and actual elements activate the mind's torment receptors. For example, Torment and nervousness, have a close association with dental infusions during dental systems.

Furthermore, the increasing interest in point-of-care products increases the demand to the global market for needles. Internationally, the pharmaceutical industry is transitioning from helping organization for inpatient facilities settings to point-of-care settings. Clinical product makers are now concentrating their attention on the production of simple-to-understand and patient-pleasing products, such as needle frameworks. Furthermore, it also reduced the patients' overall clinical costs, which involved hospitals and emergency department appointments for each part of infusion.

Raising awareness of blood donation, as well as large creative work to produce advanced needle engineering with excellent health and accuracy, is expected to aid business growth. Severe rules in many areas, such as Europe, have forced mandatory blood testing on donors for diseases such as HIV and HBV. As a result, the use of needles for blood donation and testing has increased significantly in recent years. Also, according to the Red Cross, there is a need for blood and blood products due to an increase in the number of complex medical procedures, such as chemotherapy, cardiac surgery, and organ transplantation, that necessitate a large quantity of blood donations which in turn increase the demand for needles.

There are many cases of needle stick accidents and infections, bleeding and other adverse side effects, a shortage of qualified doctors, the availability of alternative drug delivery systems, and needle fear all of which limit market expansion. Yet, the growing interest in self-injectables and the use of security needles has created opportunities for the major players in the needles industry. Self-injectables are particularly effective in all emergencies, such as hypersensitivities, and chronic diseases, such as diabetes and rheumatoid joint pain.

COVID-19 Impact on the global needles market:

The Coronavirus Pandemic (COVID-19) seems to have an effect on all facets of life around the world. This has resulted in a variety of shifts in business conditions. Since December 2019 the COVID-19 virus outbreak, the disease has spread to nearly 200 countries, prompting the World Health Organization to declare it a public health emergency. The global effects of the coronavirus disease 2019 (COVID-19) are now being felt, and they will have a major impact on the medical syringes and needles industry in 2020. The COVID-19 epidemic has a widespread consequence, including flight terminations, travel bans and quarantines, restaurant closures, all indoor activities have been restricted; a state of emergency has been declared in over 40 countries; the supply chain also slowed which impacted the demand and supply of needles; stock market volatility; declining consumer morale, rising hysteria among the public, and anxiety about the future.

During this pandemic, all governments focus on approving the corona vaccine. Which raises the number of blood tests and, as a result, the market for needles. In addition, after February 2021, corona vaccines will be available, necessitating the injection of nearly everyone. The number of injections increases in March, increasing the demand for needles to avoid cross-contamination. According to one of the articles by Business Today, the projected market for the corona vaccine in India will be around 900 million different forms of syringes for only one shot of the vaccine, with 60-70 % of the world vaccinated by March 2021. If India selects a vaccine that involves two doses, the figure increases to 1.8 billion.

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This research report on the global needles market has been segmented and sub-segmented based on the type, product, delivery mode, material, end-user, and region.

Needles Market – By Type:

• Conventional Needles
• Bevel Needles
• Blunt Fill Needles
• Filter Needles
• Vented Needles
• Safety Needles
• Active needles
• Passive Needles

Needles Market -By Product:

• Suture Needles
• Blood Collection Needles
• Ophthalmic Needles
• Dental Needles
• Insufflation Needles
• Pen Needles
• Other Needles

Needles Market – By Delivery Mode:

• Hypodermic Needles
• Intravenous Needles
• Intramuscular Needles
• Intraperitoneal Needles

Needles Market – By Material:

• Stainless Steel Needles
• Plastic Needles
• Glass Needles
• PEEK Needles

Needles Market – By End-users:

• Hospitals & Clinics
• Diagnostic Centers
• Home Healthcare
• Other End Users

Needles Market – By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Geographically, the North American market had secured the top spot in accounting the leading share in the global needles market in 2020, followed by Europe and Asia-Pacific.

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TOP COMPANIES IN THIS MARKET:

Some of the key players operating in the global needles market are Terumo Corporation, Nipro Medical Corporation, Thermo Fisher Scientific, HTL-STREFA®, Boston Scientific Corporation, Medtronic plc, Becton, Dickinson and Company, Stryker Corporation, B. Braun Melsungen AG, Hamilton Company, Novo Nordisk A/s, and Smiths Medical.

Browse Regional Reports:

• North America Needles Market
• Europe Needles Market
• APAC Needles Market
• Latin America Needles Market
• MEA Needles Market

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