Global Needle Market Report 2024

The needle market size has grown strongly in recent years. It will grow from $7.6 billion in 2023 to $8.21 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to the increased prevalence of chronic diseases, vaccination programs, surgical procedures, and government regulations.

The needle market size is expected to see strong growth in the next few years. It will grow to $11.2 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to the rising burden of chronic diseases, expansion of vaccination programs, growing demand for self-administration devices, government initiatives for improving healthcare access, and increasing healthcare expenditure. Major trends in the forecast period include technological advancements, integration of safety features, development of biodegradable and smart needles, customization, personalization, and the expansion of remote healthcare services.

The increasing number of ambulatory surgical centers (ASCs) is set to drive the growth of the needle market in the coming years. ASCs are specialized healthcare facilities that focus on providing outpatient surgical procedures, eliminating the need for overnight hospital stays. The rise in ASCs is attributed to technological advancements, the demand for outpatient procedures, and the appeal of specialized care. Needles play a vital role in ASCs, enabling various procedures such as injections, suturing, and tissue sampling. They are essential for delivering medications, drawing blood, and ensuring precise wound closure. For instance, a report by Olympus America Inc. in July 2023 revealed that ASCs increased from 6,109 facilities last year to 6,223 in 2023, with an expected 12% growth over the next five years. Thus, the growing number of ASCs is fueling the needle market's expansion.

Key players in the needle market are concentrating on developing innovative solutions, such as cutting-edge conventional transbronchial needles, to revolutionize minimally invasive diagnostics. These needles are advanced medical instruments used in bronchoscopy procedures to obtain tissue samples from the lungs or surrounding structures. For example, Broncus Medical Inc., a US-based medical device manufacturer, introduced the BIOSTAR in September 2023 - a cutting-edge conventional transbronchial needle aspiration (cTBNA) and endobronchial ultrasound (EBUS) TBNA (EBUS-TBNA) needle. The BIOSTAR needles offer superior diagnostic accuracy, sample adequacy, and sensitivity compared to conventional methods, especially for lung cancer staging and sarcoidosis diagnosis. They are available in sizes ranging from 25G to 19G, impacting sample quantity, blood aspiration, sample quality, and diagnostic yield. BIOSTAR needles represent a significant advancement in minimally invasive diagnostic procedures, enhancing patient care and diagnostic outcomes.

In January 2022, ICU Medical Inc., a US-based medical device provider, acquired Smiths Medical Inc. for an undisclosed sum. This acquisition aims to create a premier medical device and IV solutions company, extending ICU Medical's global presence and reinforcing its commitment to delivering excellence, innovation, and value to customers. Smiths Medical Inc. is a US-based manufacturer of needles used for medical injections and other applications.

Major companies operating in the needle market are Johnson & Johnson, Siemens AG, Thermo Fisher Scientific Inc., Abbott Laboratories, Medtronic PLC, Novo Nordisk AS, Merck KGaA, Becton Dickinson (BD), Stryker Corporation, Boston Scientific Corporation, Terumo Corporation, Ethicon US LLC, Illumina Inc., PerkinElmer Inc., Shimadzu Corporation, Smiths Medical, B. Braun AG, Bio-Rad Laboratories Inc., Cook Medical, QIAGEN N.V., Abcam PLC, Promega Corporation, Luminex Corporation, NIPRO Medical, Biotronik SE & Co. KG.

North America was the largest region in the needle market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the needle market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the needle market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Needles are slender, pointed instruments utilized in medical procedures for multiple purposes, including injections, blood collection, fluid aspiration, and tissue sampling. They typically consist of a hollow tube attached to a hub, which connects to a syringe or another medical device.

The primary types of needles are conventional needles and safety needles. Conventional needles refer to standard, non-safety needles used in medical procedures such as injections, blood draws, and other applications. These needles come in various materials such as stainless steel, plastic, glass, and peek, each used for specific applications such as surgical suture needles, pen needles for diabetes, blood collection needles, ophthalmic procedure needles, dental needles, insufflation needles, among others. They are utilized by various end-users such as hospitals, clinics, diagnostic centers, research institutions, home-based care, and others.

The needle market research report is one of a series of new reports that provides needle market statistics, including needle industry global market size, regional shares, competitors with a needle market share, detailed needle market segments, market trends and opportunities, and any further data you may need to thrive in the needle industry. This needle market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The needle market consists of sales of products including injection needles, intravenous (IV) catheters, lancets, and bone marrow biopsy needles. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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