Needles Market 2019-Growth Analysis & Opportunities

Needles Market by Type (Conventional (Bevel, Vented) & Safety), Product (Suture, Blood Collection, Insufflation), Material (Stainless Steel, Plastic), Delivery Mode (IV, IM, Hypodermic), End-User (Hospitals, Diagnostic Centers)

(EMAILWIRE.COM, April 15, 2019 ) The needles market is expected to reach USD 8.47 Billion by 2022 from USD 5.82 Billion in 2017, at a CAGR of 7.8% during the forecast period. Base year considered for the report is 2016 and forecast year is 2022.

Hamilton Company (U.S.), Medtronic plc (Ireland), Becton, Dickinson and Company (U.S.), Stryker Corporation (U.S.), B. Braun Melsungen AG (Germany), Boston Scientific Corporation (U.S.), Terumo Corporation (Japan), Novo Nordisk A/s (Denmark), Smiths Medical (U.K.), and Thermo Fisher Scientific (U.S.) are some of the key players in the global needles market.

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These players are striving to expand their presence in the emerging countries of Asia and the Middle East & North Africa (MENA) region through product launches, partnerships, product approvals, and collaborations.

The needles market is segmented into stainless steel/metallic, plastic, glass, and PEEK needles, based on materials. The stainless steel/metallic needles segment is expected to account for the largest share of the needles market in 2017. Stainless steel/metallic needles are affordable and do not rust; they can also be sterilized and reused; these factors are contributing to the large share of this market segment.

By end user, the needles market is segmented into hospitals, home healthcare, diagnostic centers, and other end users (trauma centers, blood banks, nursing homes, and acute care centers). The hospitals segment is expected to account for the largest share of the needles market in 2017.

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Growth in the healthcare sector in emerging economies and the increasing out-of-pocket healthcare expenditure across the globe are the key factors contributing to the market growth of this segment.