The needles market is expected to reach USD 8.47 Billion by 2022 from USD 5.82 Billion in 2017, at a CAGR of 7.8% during the forecast period. Base year considered for the report is 2016 and forecast year is 2022.

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Top Key Players

Hamilton Company (U.S.), Medtronic plc (Ireland), Becton, Dickinson and Company (U.S.), Stryker Corporation (U.S.), B. Braun Melsungen AG (Germany), Boston Scientific Corporation (U.S.), Terumo Corporation (Japan), Novo Nordisk A/s (Denmark), Smiths Medical (U.K.), and Thermo Fisher Scientific (U.S.) are some of the key players in the global needles market. These players are striving to expand their presence in the emerging countries of Asia and the Middle East & North Africa (MENA) region through product launches, partnerships, product approvals, and collaborations.

Geographically, emerging Asian countries offer high-growth opportunities for market players. As of 2017. The conducive regulatory policies for the approval of new injectables and rapid growth in the geriatric population are key factors influencing the growth of the Asia-Pacific needles market.

Stakeholders

Needle manufacturers, suppliers, and distributors
Injectable device manufacturers, suppliers, and distributors
Healthcare institutions (hospitals and outpatient clinics)
Clinical centers
Pharmaceuticals companies
Medical research laboratories
Consulting firms
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However, the rising needlestick injuries and infections, use of needle-free technology, and growing focus on the development of alternative drug delivery methods are the major factors that are expected to restrain the growth of this market.

On the basis of type, the global needles market is segmented into two broad categories, namely, conventional needles and safety needles. The global safety needles segment is expected to grow at a higher CAGR from 2017 to 2022, owing to the increasing awareness regarding the use of safety syringes and need to reduce needlestick injuries.

Based on product, the needles market is segmented into suture needles, blood collection needles, ophthalmic needles, dental needles, insufflation needles, pen needles, and other needles. The Pen Needles segment is expected to hold the largest share of the needles market in 2017.

On the basis of the delivery mode, the needles market is segmented into hypodermic, intravenous, intramuscular, and intraperitoneal needles. The hypodermic needles segment is expected to account for the largest share of the needles market in 2017.