Needles Market Size (2024 – 2030)

The Global Needles Market was valued at USD 7.6 billion in 2023 and is projected to reach a market size of USD 13.54 billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 8.6%.

The needles market is a vital segment within the broader medical device industry, encompassing the production and distribution of various types of needles used in healthcare settings needles play a critical role in medical procedures, facilitating tasks such as drug administration, blood sampling, and surgical suturing and this market caters to diverse healthcare needs, ranging from routine vaccinations to complex surgical procedures.

Key Market Insights:

Growing preference for injectable medications due to factors like precise dosage control and rapid onset of action is one of the main market drivers. High risk of infections associated with drug delivery via needles, necessitating the development of safety features. Ongoing innovations in needle technology, including safety features, offer opportunities to enhance healthcare practices and safety. The needles market operates under strict regulatory frameworks to ensure safety, quality, and efficacy and compliance with international standards and certifications is crucial for manufacturers. Prominent companies in the needles market include Becton, Dickinson & Company, Medtronic plc, Terumo Corporation, and Stryker Corporation.

Needles Market Drivers:

 Increased Injectable Drug Adoption is fuelling the Needles Market.

The preference for injectable medications is driven by the need for precise dosage control, rapid onset of action, and higher bioavailability compared to oral formulations and injectable drugs are crucial in emergencies where immediate and accurate delivery of medication is essential for patient well-being. The growing pipeline of biologics, which are often administered via injection, further contributes to the demand for needles in the healthcare sector and the growing adoption of injectable medications over oral formulations for various medical conditions is a significant driver. Injectable drugs often offer advantages such as faster onset of action, greater bioavailability, and improved patient compliance and if more pharmaceuticals are developed in injectable forms, the demand for needles and syringes for drug delivery increases.

Growing Demand for Vaccines is driving the needle market rapidly.

Mass vaccination campaigns, especially in response to global health crises like the COVID-19 pandemic, have underscored the critical role of needles in public health initiatives and routine vaccination programs for children, adolescents, and adults, combined with the introduction of new vaccines, continue to drive the consistent demand for needles. Needle-based delivery of vaccines ensures reliable and effective immunization, making it an integral part of preventive healthcare worldwide, and the global demand for vaccines has been on the rise, driven by vaccination campaigns to combat infectious diseases like COVID-19. Vaccines require the use of needles for administration and additionally, the ongoing need for routine vaccinations, especially in pediatric and public health programs, contributes to sustained demand for needles.

Increased Medical Costs are another important market driver of the Needles Market.

Healthcare providers and institutions are increasingly seeking cost-effective solutions without compromising on the quality of care, making advancements in needle technology a priority, and safety features in needles not only protect healthcare workers from accidental needlestick injuries but also reduce the potential costs associated with post-exposure prophylaxis and legal liabilities. Investing in high-quality needles can lead to improved patient outcomes, reducing the need for costly follow-up treatments and interventions, and rising healthcare costs, particularly in developed countries, have led to increased focus on cost-effective and efficient healthcare practices. Needles are essential tools in healthcare delivery, and innovations in needle technology can help reduce overall healthcare costs by improving safety and accuracy.

Rising Demand for Hormone Supplements in the aging population creates a surge in needle usage

The aging population, coupled with the prevalence of endocrine disorders, has led to a surge in hormone replacement treatments, which are predominantly administered through injections. Patients with conditions like diabetes increasingly opt for injectable insulin due to its effectiveness in regulating blood glucose levels, driving the demand for insulin needles and the convenience and accuracy offered by injectable hormone supplements are critical factors in enhancing the quality of life for individuals with hormonal imbalances. The increasing prevalence of hormone-related disorders and conditions, such as diabetes and hormone replacement therapy, drives the demand for hormone supplements and many of these supplements are administered through injections, requiring needles. As the incidence of these conditions continues to grow, so does the need for needles in their treatment.

Needles Market Restraints and Challenges:

One of the primary challenges facing the needles market is the inherent risk associated with needle usage and healthcare workers face a heightened risk of needlestick injuries, which can lead to exposure to bloodborne pathogens such as HIV, hepatitis B, and hepatitis C. There is a concern for patients, as improper disposal or reuse of needles can potentially lead to infections and these safety concerns have spurred the development of safety needles with advanced features to mitigate the risk of needlestick injuries. Despite the advancements, ensuring strict adherence to safe needle practices remains a critical challenge in healthcare settings. The needles market, like many segments of the healthcare industry, is susceptible to supply chain disruptions, and factors such as geopolitical tensions, natural disasters, and global health crises, like the COVID-19 pandemic, can lead to fluctuations in the availability of needles and these disruptions can affect the timely delivery of critical medical supplies to healthcare facilities, potentially impacting patient care. Manufacturers and healthcare institutions are actively working to establish more resilient and diversified supply chains to mitigate these risks.

Needles Market Opportunities:

The rapid pace of technological advancement presents a significant opportunity in the needles market and continuous research and development efforts are leading to the creation of innovative needle technologies that enhance safety, precision, and patient comfort during injections. From painless and ultra-thin needles to those with advanced safety features, these innovations are revolutionizing the field. The integration of digital technologies, such as RFID tags or sensors, is opening up avenues for real-time tracking and monitoring of drug administration, providing valuable data for both healthcare providers and patients, this intersection of technology and healthcare creates a fertile ground for companies to invest in cutting-edge needle designs and contribute to improved patient outcomes. With an increasing emphasis on patient-centric care and the rise of home healthcare, there is a huge opportunity for needles in the context of self-administration. Patients are increasingly taking charge of their health, particularly in managing chronic conditions like diabetes and this shift necessitates the availability of user-friendly, painless, and easy-to-use needles. Manufacturers can capitalize on this trend by developing specialized needle products tailored to the needs of patients. Additionally, there is room for the integration of educational and support services to empower patients in their self-care journey. This market for self-administration devices not only enhances patient convenience but also represents a significant avenue for growth and innovation in the needles market.

NEEDLES MARKET REPORT COVERAGE:

Needles Market Segmentation - By Type

• Conventional Needles

• Safety Needles

Safety Needles, the largest sector in 2023 dominated the market with a 57.2% share. This is because of the increased focus on healthcare worker safety and the need to minimize the risk of needle stick injuries as these needles are designed with safety features to reduce the risk of needle stick injuries. They automatically retract or cover the needle after use, providing extra care and protection. Safety Needles are also the fastest-growing sector. The demand for safe needles is expected to continue to rise due to increasing awareness of healthcare worker safety and regulatory requirements for safe needle methods. While Conventional Needles are standard needles used for general drug delivery, blood sampling, and suturing during surgical procedures, they lack specific safety features to prevent needle stick injuries.

Needles Market Segmentation – By Product

• Pen Needles

• Suture Needles

• Blood Collection Needles

• Others

Pen Needles, the largest Sector in 2023 dominated the market with a 36.3% share. This is due to the increasing prevalence of diabetes worldwide and the availability of advanced easy to use painless pen needles. These are specialized needles primarily used by diabetics for injecting insulin and they come in various lengths and widths, advancements in technology have led to the availability of small, thin, and painless pen needles. While Pen Needles are the largest sector, the fastest-growing sector is Blood Collection Needles. With the increasing demand for diagnostic tests and procedures, there is a growing need for efficient and reliable blood collection equipment or devices. Blood Collection Needles are used for blood sampling in diagnostic procedures.

Needles Market Segmentation -By Mode

• Hypodermic Needles

• Intravenous Needles

• Intramuscular Needles

• Others

Hypodermic Needles, the largest sector in 2023 dominated the market with a 35.3% share. This is attributed to the increase in chronic diseases like diabetes and the availability of needles compatible with high-performance advanced injection technology. Hypodermic Needles are used for injecting substances into the subcutaneous tissue just below the skin and they are commonly used for administering medications, including vaccines. The fastest-growing sector is the Intravenous Needles. With the increasing demand for intravenous drug delivery and various medical procedures requiring IV access, this segment is expected to see steady and rapid growth. In Intravenous Needles, hollow needles are attached to an IV syringe for injecting and extracting samples directly into the bloodstream.

Needles Market Segmentation -By Region

• North America

• Europe

• Asia-Pacific

• Latin America

• Middle East and Africa

In 2023, Asia Pacific as the largest sector dominated the market with a 38.3% share. This region's dominance can be attributed to several major factors. There's increased awareness among the population, rising healthcare costs, and a growing focus on blood donations, and additionally, the presence of prominent companies in the region, such as Garter Mechanical Engineering Co., Ltd. (Taiwan) and Meditech Devices Pvt. Ltd (India), further boosts market development. Asia Pacific is projected to continue as the fastest-growing region with a Compound Annual Growth Rate (CAGR) of 4.6% through the forecast period 2023-2030. This is primarily due to the increasing healthcare awareness and growing healthcare infrastructure development in emerging economies.

COVID-19 Impact Analysis on the Needles Market Market:

The COVID-19 pandemic led to an unprecedented global demand for vaccines and this surge in vaccination efforts created a substantial increase in the demand for needles, especially for administration purposes. Many medical device manufacturers shifted their production priorities to meet the demand for critical healthcare supplies, including needles. The pandemic disrupted global supply chains, causing challenges in the procurement and distribution of medical supplies, including needles and some regions experienced temporary shortages or delays in supply. The pandemic highlighted the importance of healthcare worker safety and there was an increased focus on the use of safety needles to minimize the risk of needlestick injuries and potential exposure to infectious diseases. The shift towards telemedicine and remote monitoring during the pandemic reduced the immediate need for certain types of needles, particularly those used in in-person healthcare settings and there was an increased demand for needles associated with self-administration of medications at home.

Latest Trends/ Developments:

The development of advanced safety features in needles continued to be a significant trend and this includes retractable needles, auto-disable features, and needleless injection systems these innovations aim to reduce needlestick injuries and improve healthcare worker safety. Advancements in needle manufacturing technologies were seen, leading to the production of sharper, thinner, and more precise needles and these advancements contribute to reduced patient discomfort during injections and improved accuracy in drug delivery. The adoption of pre-filled syringes, which come with a needle already attached, saw an uptick and these syringes offer convenience, accuracy, and reduced risk of contamination, making them popular for various drug delivery applications. Biodegradable Needles are growing interest in the development of needles and these needles are designed to degrade over time, potentially reducing environmental impact. With a growing emphasis on patient-centric healthcare, there was an increased demand for self-administration devices, including pen needles for insulin delivery and these devices empower patients to manage their conditions at home, improving convenience. Some needles and syringes started incorporating digital technologies including features like RFID tags or sensors for tracking and monitoring drug administration. Manufacturers were exploring eco-friendly and sustainable packaging solutions for needles and syringes and this trend reflects the industry's commitment to reducing environmental impact.

Key Players:

1. Becton, Dickinson & Company

2. Medtronic plc

3. Hamilton Company

4. Stryker Corporation

5. Terumo Corporation

6. B. Braun Melsungen AG

7. Boston Scientific Corporation

8. Nipro Medical Corporation

9. Novo Nordisk A/s

10. Thermo Fisher Scientific

In June 2022, Wuxi Biologics, a global contract research, development, and manufacturing organization (CRDMO), launched the Good Manufacturing Practice (GMP) operation of its new drug product facility DP5 located in Wuxi, China and this facility offers multiple volume delivery options for pre-filled syringes (PFS).