SkyQuest has prepared a comprehensive research report analyzing key dynamics influencing the global needles market. In addition, it has vital details on the market share, SWOT analysis, profitability graph, and regional expansion scope. Furthermore, the research report gives essential information about the industry's overall valuation and lists the market's key segments and growth prospects across business verticals.

Westford, USA, Jan. 30, 2023 (GLOBE NEWSWIRE) -- North America maintained its continued dominance over the needles market due to well-established healthcare facilities and leading players' wide range of cost-effective product offerings. The rising use of injectable pharmaceuticals and increasing preference for injection due to its advantages over oral drug delivery, including maximal bioavailability and a rapid commencement of the action, are key drivers for the global needles market. In addition, the demand for injections, hormone supplements, and rising medical costs complement the market expansion. Furthermore, several pharmaceutical and biotech companies continuously focus on developing efficient and cutting-edge injectable medications for treating chronic disorders, boosting the market's progress.

Browse in-depth TOC on "Needles Market.”

• Pages - 225

• Tables - 94

• Figures - 73

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According to the official report by the Centers for Disease Control in July 2022, approximately 805,000 heart attack cases are recorded in the United States yearly. Coronary Artery Disease was the most common type of heart disease in the United States, affecting over 20.1 million adults over the age of 20. Needles are critical components of CVD therapies and treatment. As a result, the disease's high prevalence is expected to aid market growth.

A needle is a small metal tube with a sharp, pointed end used to inject drugs into the body or draw out bodily fluids such as blood. Needles are used in various procedures, including dental work, surgery, and blood collection. Safety needles are used for blood collection and medication administration when there is a high risk of infection from infectious diseases. Conventional needles are applicable during administering general-purpose medications, and fill-and-filter needles are used for vaccination and other sterile items.

Prominent Players in Needles Market

• Medtronic (Ireland)

• Thermo Fisher Scientific Inc. (U.S.)

• Ethicon U.S., LLC. (U.S.)

• B.D. (U.S.)

• Novo Nordisk A/S (Denmark)

• Boston Scientific Corporation (U.S.)

• Stryker (U.S.)

• Illumina, Inc (U.S.)

• Luminex Corporation (U.S.)

• QIAGEN (Netherlands)

• Bio-Rad Laboratories, Inc. (U.S.)

• Merck KGaA (Germany)

• Abcam plc (U.K.)

• Siemens (Germany)

• Promega Corporation (U.S.)

• Shimadzu Corporation (Japan)

• PerkinElmer, Inc. (US)

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Safety Needles Emerges as the Fastest Growing Product Category owing to Its Increased Use by Healthcare Professionals

As per SkyQuest's segment analysis, the safety needles segment has shown a positive growth rate to reach a 54.6% share in 2022 and is anticipated capture swift growth during the forecast period with an impressive CAGR. The segment's growth can be ascribed to products' lower risk of needle stick injuries, which can spread blood-borne viruses such as hepatitis B and C, HIV, and other diseases. In addition, most healthcare professionals prefer safety needle technology over conventional devices due to beneficial factors such as operation time, accuracy, and fast usage design. However, to better understand product restrictions and hospital environment issues, healthcare organizations and stakeholders must concentrate on specific issues contributing to the continued risk of damage.

North America dominates the needles market owing to the region's robust healthcare infrastructure, well-established distribution networks for needle product makers, increased investments from major players in developing cutting-edge technologies, and advanced research activities. Furthermore, the segment is anticipated to expand significantly over the projected period due to the region's increased prevalence of chronic disorders and product developments.

Suture Needles to Capture Dominant Share in the Needles Market due to Its Rising Application

Based SkyQuest's insights, the suture needles are expected to perform better than the other product-based segments to capture 23.4% of the share from 2022 to 2028. Such substantial growth is because chronic illnesses' prevalence is increasing globally, boosting product demand. Additionally, a rise in support from both public and private entities in healthcare facilities is contributing to the segment's rapid expansion.

Some of the significant primary companies have a larger market share as they make most of the needles. However, several new players with greater research resources and a better distribution network have carved out a place for themselves in the industry. With Asia Pacific's expanding healthcare infrastructure and growing health-conscious population, several small-scale and mid-scale players are emerging as key contributors to the market.

The report offers key insights into the current profiles of prominent market players in the competitive landscape analysis of this market. Key businesses are using strategies such as acquisitions, alliances, mergers, and geographical expansions to differentiate themselves as fierce competitors in the market. Other strategies used by top businesses to boost their market presence include new product launches and a stronger emphasis on R&D.

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Key Developments in Needles Market

• The University Of Guelph, Ontario, has completed its veterinary clinical trials with PKA SoftTouch's proprietary Micro-Needle. According to the data, the device greatly outperforms the conventional syringe injection by improving drug administration and shortening the time to peak effect. In addition, compared to traditional deep muscle syringe injection, the ground-breaking PKA SoftTouch Micro-Needle has demonstrated that a shallow delivery process increases medication absorption, bioavailability, and efficacy.

• At the BIO International Convention, West Pharmaceutical Services, Inc., a leader in cutting-edge approaches to injectable medication delivery, will introduce its new Daikyo Crystal Zenith® 2.25mL Insert Needle Syringe System. A technologically superior cyclic olefin polymer containment and delivery system called Daikyo Crystal Zenith® (CZ®) provides an alternative to glass that lowers the risk of breakage and the likelihood of particles, contamination, and extractability.

• Kurin, Inc., the creator and producer of Kurin® blood culture collection sets, announced that the push-button Needle for use with Kurin blood culture sets had begun its commercial launch. After being tested in 2021, the Advance Safety Needle System is now being marketed into accounts utilizing Kurin. The creation of the Advance Needle is a significant turning point for Kurin since it gives us a more consistent product supply, better cost management, the chance to offer improved benefits compared to current needles, and new strategic options.

• Roche Diabetes Care introduced ACCU-FINE pen needles for painless insulin administration. The product facilitates insulin delivery, resulting in better diabetes management for diabetics. The Needle on this pen has a unique cut at the tip to ensure comfortable insertion. Furthermore, the Needle has a thin wall for quick insulin delivery and a special coating for ease injection into the skin.

Key Questions Answered in the Needles Market Report

• What is the expected size of the market, along with the valuation?

• Who are the key players successfully operating in the global needles market?

• Which segment of the target market is projected to drive high demand?

• What are the primary factors and major hurdles impacting the market growth?

• Which regional market is predicted to emerge as the key revenue contributor?

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