A recent report published by Infinium Global Research on needles market provides in-depth analysis of segments and sub-segments in the global as well as regional needles industry
Pune, India -- (SBWIRE) -- 11/26/2019 -- The Infinium Global Research analyzes the "Needles Market (Type - Conventional Needles, Bevel Needles, Blunt Fill Needles, Filter Needles, Safety Needles, Passive Needles, and Active Needles; Product - Blood Collection Needles, Suture Needles, Ophthalmic Needles, Dental Needles, Pen Needles, and Other Needles; End-user - Diagnostic Centers, Hospitals & Clinics, Home Healthcare, and Other End-users): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025". Needles are used for various purposes such as administration of the drug in the body, draw a blood sample from the body, and others. The strict rules regarding the proper use of needles in healthcare promote market growth. The global needles market is projected to grow at a CAGR of 6.8% over the forecast period of 2019-2025.
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Growing Demand for Vaccines Contributes to the Growth of the Industry
The rising prevalence of chronic diseases worldwide drives the growth of the needles market. The growing demand for vaccines contributes to the growth of the needles market. The growing number of hospitals in developing countries promotes the growth of the needles market. The increasing geriatric population globally stimulates the growth of the needles market. On the flip side, increasing needlestick injuries and infections and rising use of needle-free technology hamper the growth of the needles market. Moreover, the growing injectables market creates novel opportunities for the growth of the needles market.
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The Safety Needles Segment Leads the Needles Industry in 2019
The global needles market is segmented on the basis of type, product, and end-user. The type segment includes conventional needles, bevel needles, blunt fill needles, filter needles, safety needles, passive needles, and active needles. Safety needles dominate the type segment of the needles market due to rising awareness about the use of safety syringes.
The product segment is divided into blood collection needles, suture needles, ophthalmic needles, dental needles, pen needles, and other needles. Pen needles hold a premium share in the product segment of the needles market owing to the increasing prevalence of diabetes. Based on end-user, the needles market is divided into diagnostic centers, hospitals & clinics, home healthcare, and other end-users.
North America Region is Projected to Account for the Largest Share in the Needles Market During the Forecast Period
Geographically, the global needles market is divided into North America, Asia-Pacific, Europe, and the Rest of the World. North America region is expected to have a premium share in the global needles market. The easy availability of safety needle and the presence of key market players in North America promote the growth of the needles market in North America. Asia-Pacific is anticipated to grow in the global needles market with a significant CAGR over the forecast period. The growing geriatric population and strict policies for approval of new injectables in Asia-Pacific stimulate the growth of the needles market in the Asia-Pacific region. Europe is growing in the global needles market.
Read Detailed Index of full Research Study of "Needles Market"
Needles Market: Competitive Landscape
The leading players in the global needles market are Medtronic plc, Stryker Corporation, Terumo Corporation, Smiths Medical, Inc., B. Braun Melsungen AG, Boston Scientific Corporation, Thermo Fisher Scientific Inc., Becton, Dickinson and Company, Novo Nordisk A/S, Neotec Medical Industries Pte. Ltd., and other companies. The leading companies in the global needles market are adopting strategies such as mergers, acquisitions, and collaborations that expand their market share in the global needles market.
Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the needles.
=> Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.