What is Global Medical Injection Needles Market?
The Global Medical Injection Needles Market is a comprehensive study of the worldwide market trends and growth prospects for medical injection needles. This market is a crucial component of the healthcare industry, as these needles are used in various medical procedures such as vaccinations, blood sampling, and drug delivery. The market encompasses a wide range of products, including hypodermic needles, insulin needles, pen needles, and others. The market's growth is driven by factors such as the increasing prevalence of chronic diseases, the growing geriatric population, and advancements in needle technology. However, the market also faces challenges such as needlestick injuries and the disposal of used needles. Despite these challenges, the market is expected to grow significantly in the coming years due to the increasing demand for self-injection devices and the development of needle-free injection systems.
Conventional Needles, Safety Needles in the Global Medical Injection Needles Market:
The Global Medical Injection Needles Market is segmented into Conventional Needles and Safety Needles. Conventional needles are the traditional type of injection needles that have been used for decades. They are simple, reliable, and cost-effective, which makes them the preferred choice for many healthcare providers. However, they pose a risk of needlestick injuries, which can lead to serious infections. On the other hand, safety needles are designed to prevent needlestick injuries. They come with safety features such as sheaths or shields that cover the needle after use. Despite their higher cost, the demand for safety needles is growing due to the increasing awareness about needlestick injuries and the stringent regulations regarding needle safety.
Hospitals, Home, Others in the Global Medical Injection Needles Market:
The Global Medical Injection Needles Market finds its applications in various areas such as Hospitals, Homes, and Others. Hospitals are the largest users of medical injection needles, as they perform a wide range of procedures that require these needles. These include vaccinations, blood tests, and drug administration. The use of needles in homes is mainly for self-injection devices such as insulin pens and autoinjectors. These devices are used by patients with conditions such as diabetes and multiple sclerosis, who need regular injections. The other areas where medical injection needles are used include clinics, nursing homes, and research laboratories.
Global Medical Injection Needles Market Outlook:
The global Medical Injection Needles market, valued at US$ 3480.5 million in 2022, is projected to reach US$ 5259.4 million by 2029. This represents a Compound Annual Growth Rate (CAGR) of 6.0% during the forecast period from 2023 to 2029. The market is dominated by the top five manufacturers, who collectively account for about 80% of the market share. The largest market for medical injection needles is Asia-Pacific, which holds approximately 45% of the global market share. This is followed by Europe and North America, with market shares of over 20% and 10% respectively. The largest segment of the market is Conventional Needles, which accounts for about 80% of the market. The largest application of medical injection needles is in hospitals, which account for about 70% of the market.
| Report Metric | Details |
| Report Name | Medical Injection Needles Market |
| Accounted market size in 2022 | US$ 3480.5 in million |
| Forecasted market size in 2029 | US$ 5259.4 million |
| CAGR | 6.0% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Consumption by Region |
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| By Company | BD, B. Braun, Nipro, Terumo, Novo Nordisk, WEGO, Cardinal Health, Smiths Medical, KDL, Artsana, Ypsomed, QIAO PAI, Zheng Kang, Jichun, Zibo Shanchuan |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
