CHICAGO, Nov. 9, 2022 /PRNewswire/ -- Needles Market is projected to reach USD 10.6 billion by 2027 from USD 7.7 billion in 2022, at a CAGR of 6.7% during the forecast period according to a new report by MarketsandMarkets. Market is driven by factors such as Increasing preference for minimally invasive biopsies, and the rising vaccine demand globally. On the other hand, growing focus on the development of alternative drug delivery methods is expected to limit market growth to a certain extent in the coming years. Upsurge in the cases of chronic diseases such as HIV amongst global population is anticipated to drive the Needles Market growth. Expanding injectables market and Rise in self-administration of drugs is anticipated to propel market growth opportunities. However, growing needlestick injuries and associated infections is anticipated to hinder market development.
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Browse in-depth TOC on "Needles Market"
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Pen Needles in product segment to witness the highest growth rate during the forecast period."
Based on the Product, the Needle Market is classified into Suture Needles, Blood Collection Needles, Ophthalmic Needles, Dental Needles, Insufflation Needles., By Pen Needles - Standard Needles, Safety Needles., By Biopsy and Aspiration Needles - Biopsy Needles, Core Biopsy Needles, Vacuum Assisted Needles Aspiration Needles, and Other Needles. The pen needles, segment is expected to dominate because of growing prevalence of diabetes as well as its wide range of availability in a of lengths and diameters moreover its used by doctors as well as patients to deliver injectable medications.
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US dominates the North American Needles Market.
Based on the North America region, the Needles Market is divided into US and Canada. US is expected to dominate the Needles Market. Growing initiatives by different organizations for the reduction of blood-borne infections, and increasing prevalence of cardiovascular diseases., are the key factor driving market growth in the US.
The major players in the Needles Market are Becton, Dickinson, and Company (US), Medtronic (Ireland), B. Braun Melsungen AG (Germany), Boston Scientific Corporation (US), and Stryker Corporation (US).
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Browse Adjacent Market: Medical Devices Market Research Reports & Consulting
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