The report "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) -Global Forecast to 2022", Thisreport studies the global needles market over the forecast period of 2017 to2022.
The market is expected to reach USD8.47 Billion by 2022, at CAGR of 7.8% during the forecast period. Key factorssuch growing geriatric population, increasing number of hospitals in emergingmarkets, and high prevalence of chronic diseases are the major factors drivingthe growth of the needles market across the globe.
Browse 92 market data tables and 46 figures spread through 167 pages and in-depth TOC on "Needles Market”
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By type, the conventional needles segment is expected to hold thelargest market share in 2017
On thebasis of type, the global needles market is segmented into two broadcategories, namely, conventional needles and safety needles. The conventionalneedles market is estimated to command the larger share of the global needlesmarket in 2017. The growing demand for biosimilar products, the increasingincidence of chronic disease, and the expanding injectables market are the keyfactors contributing to the growth of this market segment.
By product, the blood collection needles segment is expected togrow at a significant CAGR during the forecast period
Based onproduct, the market is segmented into suture needles, blood collection needles,ophthalmic needles, dental needles, insufflation needles, pen needles, andother needles. While the pen needles segment is expected to hold the largestshare of the in 2017, it is the blood collection needles segment that isexpected to grow at a significant CAGR from 2017 to 2022. Factors like theincreasing number of blood donations and technological advancements in bloodcollection sets are driving the growth of the blood collection needles market.
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By delivery mode, the hypodermic segment is expected to hold thelargest market share in 2017
Theneedles market is segmented into hypodermic, intravenous, intramuscular, andintraperitoneal needles on the basis of delivery mode. The hypodermic needlessegment is expected to account for the largest share of the needles market in2017. These needles are used for injecting the drug into the subcutaneouslayer; this enables the quick absorption of active compounds into thebloodstream, which is a key factor contributing to the market growth of thissegment.
North America dominated the market in 2016
As of2016, North America held the largest share of the global needles market,followed by Europe. Its dominant share is attributed to the rising incidence ofchronic diseases, initiatives by different organizations for the reduction inblood borne infections, and increasing prevalence of cardiovascular diseases.
The keyplayers in the global needles market are 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.), TerumoCorporation (Japan), Novo Nordisk A/s (Denmark), Smiths Medical (U.K.), andThermo Fisher Scientific (U.S.).
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