Needle Market Growth Outlook: Trends, Market Size, and Opportunities Over the Next Decade
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
What Drivers Are Shaping the Growth and Development of theNeedle Market?
The growing number of ambulatory surgical centers is fueling the needle market. Ambulatory surgical centers are increasing due to demand for outpatient procedures and advancements in healthcare. Needles are vital for performing medical tasks in these centers. In July 2023, Olympus America Inc. noted an increase in ASCs from 6,109 to 6,223 facilities, with 12% growth projected in five years. This expansion supports the needle market.
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How Has the Needle Market Evolved in Recent Years, and What are the Growth Projections for the Forecast Period?
The needle market size has grown significantly in recent years. It is forecasted to grow from $8.21 billion in 2024 to $8.89 billion in 2025 at a CAGR of 8.3%. The growth is driven by a higher prevalence of chronic diseases, vaccination initiatives, surgical needs, and governmental regulations.
The needle market is projected to grow to $12.09 billion in 2029, with a CAGR of 8.0%. Growth is driven by the increasing burden of chronic diseases, expanded vaccination programs, demand for self-administered devices, government healthcare initiatives, and rising healthcare expenditure. Key trends include technological advancements, safety features, biodegradable needles, smart needles, and remote healthcare integration.
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Which Cutting-Edge Market Trends Are Expected to Drive theNeedle Market’s Growth?
Major companies in the needle market are focusing on breakthroughs in minimally invasive diagnostic tools, such as advanced conventional transbronchial needles. In September 2023, Broncus Medical Inc., a US-based medical device company, launched BIOSTAR needles for cTBNA and EBUS-TBNA procedures. Available in various sizes (25G to 19G), these needles offer improved accuracy and sample quality, significantly enhancing lung cancer and sarcoidosis diagnostics.
What Are the Leading Market Players Impacting theNeedle Market’s Growth Trend?
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
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How Are the Key Segments of the Needle Market Driving Opportunities and Innovations?
The needle market covered in this report is segmented –
1) By Type: Conventional Needles, Safety Needles
2) By Material: Stainless Steel Needles, Plastic Needles, Glass Needles, Peek Needles
3) By Application: Surgical Suture Needles, Pen Needles In Diabetes, Blood Collection Needles, Ophthalmic Procedure Needles, Dentistry Needles, Insufflation Needles, Other Needles
4) By End User: Hospital, Clinics, Diagnostic Centers, Research Institutions, Home-Based Care, Other End Users
Subsegments:
1) By Conventional Needles: Hypodermic Needles, Intravenous (Iv) Needles, Insulin Needles, Blood Collection Needles
2) By Safety Needles: Safety Hypodermic Needles, Safety Insulin Needles, Safety Blood Collection Needles, Auto-Disable Safety Needles
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What Regions Are At the Forefront of #What Drivers Are Shaping the Growth and Development of theNeedle Market?# Market Expansion?
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.
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