What is Global Medical Needles Market?
The Global Medical Needles Market is a vast and dynamic sector that plays a crucial role in the healthcare industry. This market encompasses the production, distribution, and usage of various types of medical needles used in different medical procedures. In 2023, the market was valued at a substantial US$ 6346.9 million, demonstrating its significant impact on the global economy. The market is projected to grow even further, reaching an estimated value of US$ 8436.6 million by 2030. This growth, representing a Compound Annual Growth Rate (CAGR) of 4.1% during the forecast period of 2024 to 2030, is driven by various factors such as advancements in medical technology, increasing demand for minimally invasive surgeries, and the rising prevalence of chronic diseases.
Insulin Pen Needles, Suture Needle, Hypodermic Needle, Ophthalmic Needle, Dental Needle, Others in the Global Medical Needles Market:
The Global Medical Needles Market is segmented into various types of needles including Insulin Pen Needles, Suture Needle, Hypodermic Needle, Ophthalmic Needle, Dental Needle, among others. Each type of needle serves a specific purpose and is designed to cater to different medical needs. For instance, Insulin Pen Needles are used by diabetic patients for insulin injection. They are designed to be small, thin, and easy to use to minimize discomfort during injection. On the other hand, Suture Needles are used in surgeries to close wounds or surgical incisions. They come in various shapes and sizes, depending on the surgical requirement. Hypodermic Needles are used to inject substances into the body or extract fluids from it. They are commonly used in vaccinations, blood tests, and other medical procedures. Ophthalmic Needles are used in eye surgeries, while Dental Needles are used in dental procedures. In 2019, the sale proportion of Insulin Pen Needles was 11.16%, indicating its significant demand in the market.
Hospital, Clinic, ASCs in the Global Medical Needles Market:
The usage of medical needles is widespread in various healthcare settings such as Hospitals, Clinics, and Ambulatory Surgical Centers (ASCs). Hospitals, being the primary healthcare providers, account for the largest proportion of medical needle usage. In 2019, about 50% of the total medical needles were used in hospitals. This can be attributed to the wide range of medical procedures performed in hospitals, from minor surgeries to major operations, all of which require the use of medical needles. Clinics and ASCs also contribute significantly to the usage of medical needles. Clinics often use needles for routine check-ups, vaccinations, and minor procedures, while ASCs use them for outpatient surgeries. The usage of medical needles in these settings is expected to increase in the future, driven by the growing demand for healthcare services.
Global Medical Needles Market Outlook:
Looking at the market outlook, the Global Medical Needles Market is on a positive trajectory. In 2023, the market was valued at a significant US$ 6346.9 million and is expected to grow to an impressive US$ 8436.6 million by 2030. This represents a steady growth rate of 4.1% during the forecast period from 2024 to 2030. The Insulin Pen Needles segment contributed to 11.16% of the total sales in 2019, indicating its substantial demand in the market. Furthermore, hospitals accounted for about 50% of the total usage of medical needles in 2019, demonstrating their pivotal role in the market. These trends suggest a promising future for the Global Medical Needles Market, with potential for further growth and development.
| Report Metric | Details |
| Report Name | Medical Needles Market |
| Accounted market size in 2023 | US$ 6346.9 million |
| Forecasted market size in 2030 | US$ 8436.6 million |
| CAGR | 4.1% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Consumption by Region |
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| By Company | BD, Johnson & Johnson, Novo Nordisk, Nipro, WEGO, Terumo, B.Braun, Smiths Medical, Medtronic, Ypsomed, Teleflex, MTD, Smith & Nephew, Cardinal Health |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
