Overview
Needles are used to inject drugs or to draw blood from the body. It consists of three parts, including a long shaft, an inclined tip called a bevel, and a hub mounted on the tip of the syringe. In clinical practice, different types of needles are usually used for various applications, such as delivering drugs to various layers of the skin, anesthesia procedures, and different surgical procedures. According to the doctor’s needs, needles of different types and materials can be used. Conventional needles are used for general administration, filled needles and filter needles are used for vaccination and other sterile products, and safety needles are used for blood collection and administration, and are used in situations where there is a high chance of contamination by infectious diseases. It also depends on its field of application. For example, diabetic patients use pen needles to inject daily doses of insulin, blood collection needles for diagnostic purposes, and suture needles for surgical purposes.
The global needle market was valued at US$ 5.75 billion in 2017 and is expected to reach a CAGR of 7.6 percent during the forecast period (2017-2025).
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Drivers
There are several factors related to the increasing use of needles around the world. One of the main factors is the high prevalence of chronic diseases worldwide, which drives the demand for needles. According to data from the World Health Organization (WHO), in 2017, non-communicable diseases such as cancer, diabetes, cardiovascular diseases and lung diseases accounted for around 70% of the global total, mainly from low-income economies and media. Furthermore, by 2020, chronic diseases are expected to account for around 75% of all deaths in the world. Therefore, this is expected to contribute to the growth of the market as needles are an integral part of the treatment of chronic diseases.
According to the Diabetes Atlas of the International Diabetes Federation (IDF), in 2017, diabetes affected approximately 425 million people worldwide. Diabetes patients require daily insulin injections and continuous blood glucose monitoring, which in turn drives the demand for pen needles. In addition, the U.S. invests each year primarily in the treatment of diabetes and cancer. According to the 2017 IDF report, the investment was around US$ 377 billion, representing 52% of total global spending on diabetes. Additionally, according to a 2014 report from the World Organization for Cancer Research, the U.S. has one of the highest cancer incidence rates in the world, 328 per 100,000, which is expected to drive growth in the needle market.
The increase in the elderly population is expected to drive the growth of the global needle market. According to the World Population Outlook, the 2017 UN 2017 Review Report indicated that there were 962 million elderly people. By 2030, it is expected to reach 1.4 billion, and it will grow at an annual rate of 3%. The elderly need to be hospitalized frequently for aging-related diseases, such as heart disease, stroke, diabetes, and fall injuries.
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In some cases, surgery is required to be hospitalized. This is expected to contribute to the global needles market’s growth. There are 547 million elderly people in the Asia-Pacific region, and it is expected to reach 900 million elderly people by 2025. Therefore, manufacturers can focus on expanding in this region. In addition, it is expected that strict regulations on safe injection practices by governments of various countries will promote the demand for safe needles to reduce the chance of contamination by blood-borne pathogens.
The main players focus on strategic mergers and acquisitions and the development of innovative products to increase their market share. In September 2017, Becton, Dickinson and Company launched the BD UltraFine micro-pen needle, which can be used in conjunction with different diabetic pen injection devices to reduce the accidental injection of insulin doses into the muscles. Provides the shortest length of one of the needle pens.
Nipro Medical Corporation launched the “SafeTouch” safety needle in 2016, which is known to protect patients from needlestick injuries. KPack Surshield, an innovative product launched by Terumo Medical Corporation in 2012, claims to be 20% sharper than its competitors and is suitable for all types of syringes.
Competitive Landscape
Major companies contributing in the global needles market include B. Braun Melsungen AG, Terumo Corporation, Hamilton Company, Medtronic plc., Novo Nordisk A/s, Dickinson and Company, Becton, Smiths Medical, Thermo Fisher Scientific, Stryker Corporation, Nipro Medical Corporation, and Boston Scientific Corporation.
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Table of Content
Global Needles Market Research Report
Section 1: Global Needles Industry Overview
Section 2: Global Economic Impact on Needles Industry
Section 3: Global Market Competition by Industry Producers
Section 4: Global Productions, Revenue (Value), according to Regions
Section 5: Global Supplies (Production), Consumption, Export, Import, geographically
Section 6: Global Productions, Revenue (Value), Price Trend, Product Type
Section 7: Global Market Analysis, on the basis of Application
Section 8: Needles Market Pricing Analysis
Section 9: Market Chain, Sourcing Strategy and Downstream Buyers
Section 10: Strategies and key policies by Distributors/Suppliers/Traders
Section 11: Key Marketing Strategy Analysis, by Market Vendors
Section 12: Market Effect Factors Analysis
Section 13: Global Needles Market Forecast
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