As per this study the Global Needles Market was valued USD XX MN (by revenue) in 2021 and is anticipated to reach USD XX MN by 2028 with a CAGR of XX%.
A needle is cylindrically thin, sharp and pointy instrument used for piercing, sewing, body injections, tattooing, and others. Needles are usually made from stainless steel or glass. Needles are also used widely in the medical sector for collecting blood and can be used to deliver medicine through intramuscular or intravenous mode.
The increasing number of hospitals across the globe requiring medical tools coupled with an increasing prevalence of chronic diseases coupled are boosting the global needle market growth. Additionally, rising awareness regarding blood donation is also anticipated to augment the market growth. However, alternative options available for drug delivery such as needle-free drug delivery devices is expected to hinder the market growth.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of needles.
The broad needles market has been sub-grouped into type, product, delivery mode, and raw material. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
- Conventional needles
- Safety needles
By Delivery Mode
- Pen needles
- Suture needles
- Blood collection needles
- Dental needles
- Ophthalmic needles
By Raw Material
- Stainless Steel
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for needles in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Needles Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the needles market include Becton Dickinson and Company, Boston Scientific Corporation, Ethicon, Hilgenberg, Medtronic, Novo Nordisk, Smiths Medical, Stryker, and Thermo Fischer Scientific. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.