(PharmaNewsWire.Com, August 29, 2017 ) The Global Needles Market was worth USD 5.38 billion in 2016 and estimated to be growing at a CAGR of 7.7%, to reach USD 7.8 billion by 2021. The market is showing high growth potential in the mentioned period. It will continue to expand with the recent developments in the Pharmaceutical industry.
Needles are the sterile devices which help in injecting solutions in the human body. Needles are hollow metal tube with a pointed tip and are also used to separate different types of body fluids, like tissues from swollen parts and blood from veins. A needle comes with a syringe, which is made from either glass or plastic and is shaped in the form of a cylinder with a piston at one end and an opening which holds the needle.
Increasing instances of chronic diseases, rising geriatric population and advancement in technology of needle based drug delivery are the major driving forces for the global needles market. However, high risk associated with drug delivery by syringes and needles hamper the growth of the global needles market. Moreover, increased risk of needle stick injuries and availability of alternatives also hampers the growth of global syringes and needles market.
Global Needles Market Segmentation:
o Type Introduction Conventional Needles Bevel Needles Filter Needles Vented Needles Safety Needles Active needles Passive Needles Y-o-Y Growth Analysis, By Type Market Attractiveness Analysis, By Type Market Share Analysis, By Type
o Product Introduction Suture Needles Blood Collection Needles Ophthalmic Needles Dental Needles Insufflation Needles Pen Needles Other Needles Y-o-Y Growth Analysis, By Product Market Attractiveness Analysis, By Product Market Share Analysis, By Product
o Delivery Mode Introduction Hypodermic Needles Intravenous Needles Intramuscular Needles Intraperitoneal Needles Y-o-Y Growth Analysis, By Delivery Mode Market Attractiveness Analysis, By Delivery Mode Market Share Analysis, By Delivery Mode
o Material Introduction Stainless Steel Needles Plastic Needles Glass Needles PEEK Needles Y-o-Y Growth Analysis, By Material Market Attractiveness Analysis, By Material Market Share Analysis, By Material
o End User Hospitals & Clinics Diagnostic Centers Home Healthcare Other End Users
On the basis of region the global market is segmented into North America, Asia-Pacific, Europe, Latin America and Middle-East and Africa. North America and Europe dominate the global needles market. This is because of different types of government legislative reforms. However, Asia-pacific is expected to grow at the highest CAGR in the forecasting period of global needles market because of increasing geriatric population.
Some of the major competitors dominating the global needles market are Becton, Dickinson and Company, B. Braun Melsungen AG, Terumo Corporation and Smiths Medical, Terumo Corporation, Smiths Medical, and Thermo Fisher Scientific.
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