Medical Injection Needles Market Infographics Description
- The Infographics: Medical Injection Needles Market is estimated at US$ 6,655.9 Mn in 2020.
- Worldwide medical injection needles market is projected to reach US$ 14,961.7 Mn in 2030 at a CAGR of 8.6% from 2021 to 2030.
- Amongst product types, the hypodermic needle segment in the global medical injection needles market is estimated to account for a majority revenue share of 40.2% in 2020 end, owing to increasing incidence and prevalence of chronic diseases such as arthritis, asthma, cancer, diabetes, cystic fibrosis, and others.
- Amongst applications, the hospital’s segment in the global medical injection needles market is estimated to account for a majority revenue share of 40.1% in 2020 end, owing increasing number of hospitals and clinics across the globe coupled with higher spending on healthcare expenditure
- North America market is expected to dominate the global medical injection needles market. It is expected to account for the largest market revenue share as compared to that of markets in other regions.
Medical Injection Needles Market Scope and Estimation (2023-2033)
- By 2033, the Medical Injection Needles Market is projected to grow from $8 billion in 2023 to $15.7 billion, with a 7.02% CAGR.
- The increasing prevalence of chronic diseases is driving demand for medical injection needles used in drug delivery and diagnostics.
- Innovations in needle technology, including finer gauges and micro-needles, are improving patient comfort and fueling market expansion.
- A growing trend towards self-medication is boosting the market for user-friendly injection devices, particularly for home healthcare.
- Hypodermic needles, holding a 31% market share, are crucial for numerous medical uses and lead the type segment.
- Hospitals are the largest market segment for these needles, reflecting their high usage in medical procedures, with over 34% share.
- North America is the leading market for medical injection needles, with a 32% share, attributed to its superior healthcare facilities and high expenditure.
- Asia-Pacific is the fastest-growing region in this market, spurred by improving healthcare access and economic growth in nations like China and India.
- Safety and regulatory issues related to the risk of infections from needle reuse and disposal are slowing market growth, pushing advancements in safer technologies.
Medical Injection Needles Market Leading Key Players Are
- B Braun Melsungen AG
- Medtronic plc
- Cook Medical
- Medline
- Jiangyin Fanmei Medical
- Terumo Corporation
- Becton, Dickinson and Company
- Shandong Zibo Shanchuan
Growth Drivers and Strategic Developments
Syringes and needles are essential in medical environments such as hospitals, clinics, and research institutes, playing critical roles in medication delivery, fluid extraction, and wound care. The rise in chronic diseases like diabetes, cancer, and arthritis globally has escalated the demand for injectable medications and vaccines, driving growth in the medical injection needles market. This market is also bolstered by increasing healthcare infrastructure and investments worldwide.
Despite robust growth prospects, the market faces challenges like stringent regulatory standards and the risk of product recalls which could impede expansion. However, the ongoing COVID-19 pandemic has surged the demand for injection needles for vaccine delivery and antibiotic administration against resistant bacterial infections, presenting significant opportunities. The market also benefits from technological innovations aimed at enhancing patient comfort and reducing environmental impact, such as higher gauge, less painful needles.
North America leads the global market, driven by high chronic disease prevalence, substantial healthcare infrastructure, and extensive blood donation activities. The American Red Cross notes a daily need for about 36,000 units of red blood cells in the U.S., emphasizing the critical demand for injection needles. Market segmentation shows that hypodermic, infusion, and insulin needles are predominantly used, with hospitals and ambulatory centers being the largest consumers due to their high volume of procedures and treatments.
The trend towards self-administration of drugs is accelerating, supported by technological advancements and a preference for home healthcare. This shift is expected to increase demand for devices like facial injectables and intracardiac injections, significantly benefiting the home healthcare segment. According to the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK), insulin needles are commonly used among diabetes patients, underlining the growth potential for this segment.
Recent developments in the market include strategic moves by major companies to enhance their product lines and expand their market reach. In July 2023, Medtronic plc acquired Affera, Inc., a specialist in cardiac mapping and navigation, to enhance its cardiac ablation offerings. Becton, Dickinson and Company (BD) purchased Cytognos in April 2023 to bolster its diagnostics for hematological cancers through advanced flow cytometry solutions. Additionally, Terumo Corporation announced a partnership with CytoSorbents in March 2023 to distribute a blood purification technology in select Asian markets, aiming to strengthen its critical care portfolio.
