Needles Market Expected to reach $8.47 Billion by 2022

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, May 15, 2019 ) 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 global needles market is projected 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.

The growing geriatric population, increasing number of hospitals in emerging markets, high prevalence of chronic diseases, and increasing demand for vaccines are the major factors driving the growth of the needles market across the globe.

This report broadly segments the needles market into type, products, material, delivery mode, and end user.

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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. 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.