The global needles market is expected to witness substantial growth in coming years, mainly due to the rising prevalence of chronic diseases, surging geriatric population, increasing number of hospitals in emerging economies, and rising demand for vaccines globally.
On the basis of types of needle, the Needles market has been classified into conventional and safety needles. The conventional category generally includes bevel, blunt fill, filter, and vented needles; whereas, safety needles category includes passive and active needles. The market for safety needles is expected to advance at a faster pace, during the forecast period. Becton, Dickinson and Company offers both passive and active safety needle-based system.
The Needles Market has been categorized into hypodermic, intravenous, intramuscular and intraperitoneal, based on the delivery mode. The hypodermic needles category is expected to hold the largest share in the market throughout the analysis period. These needles are used to inject drugs into the subcutaneous layer of skin, that enables the active compounds to be quickly absorbed into the bloodstream, which is the key factor contributing to the market growth of this category.
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Needles are made up of metal, plastic, glass, and PEEK materials. Owing to the reusability and durability of metal needles, the category is expected to hold the largest share in the needles market.
Increasing adoption of injectable drugs, rising demand for vaccination, increasing medical costs, and growing demand for hormone supplements are the key factors leading to the growth of the needles industry, globally. According to the United Nations Children’s Fund (UNICEF), in 2017, global coverage rates for the third dose of the diphtheria, tetanus and pertussis vaccine (DTP3) reached 85%, from 72% in 2000 and 21% in 1980. Still, 71 countries are yet to achieve the Global Vaccine Action Plan (GVAP) target of 90% or greater coverage of DTP3.
The needles industry is characterized by the wide presence of players, who offer a broad range of products, such as pen needles, hypodermic needles, and autoinjectors. Some of the major players operating in the market are Medtronic plc, Thermo Fischer Scientific Inc., Boston Scientific Corporation, Becton, Dickinson, and Company, Cook Medical LLC, Johnson & Johnson, B. Braun Melsungen AG, The Hamilton Company, Smiths Medical, Terumo Corporation, Vita Needle Company, NIPRO Medical Corporation, and Integra LifeSciences Corporation.
