The Global Special Purpose Needles Market was valued at US$ 10.44 billion in 2021 and is predictable to reach US$ 22.01 billion by 2030 which is projected to attain a CAGR of 8.6 % during the forecast period from 2021- 2030.
Needles are referred as a device made up of metal, glass, or rubber tubes used for delivering drugs and collecting fluids from the body. Special purpose needles are designed to avert the accidental spread of disease and permit the reuse of needles by nullifying the spread of the diseases and minimizing the immense wastage of needles and syringes.
Rising demand is attributed to the occurrence of chronic disorders and demand for safer & quality healthcare facilities which are expected to augment the market growth for special purpose needles in the upcoming years. A report published by CDC states that around (62 – 88) % of accidental needlestick infections can be eliminated by the usage of safety needles. Further, the widespread demand for prefilled syringes is boosting sales owing to its easier delivery of drug delivery. Increasing regulations by the government for focusing on advanced healthcare systems, prevention of hospital-acquired infections, and improvement of healthcare infrastructure are creating a huge probability for the key players in the advancement of product designs. Over the past years, the needles technology has been improved are redesigned to improve control, smoother penetration with less tissue displacement, accuracy, and light insertion force.
However, increasing demand for the latest types of needles such as needle-free injection and microneedle technology is expected to hinder the global special purpose needle market. In addition, the absence of skilled professionals and knowledge acts as a barrier for the market growth. Furthermore, increasing healthcare expenditure, easy availability of cost-effective & advanced needles, and rising consciousness among the patients are anticipated to fuel the market growth during the forecast period.
The Global Special Purpose Needles Market is segmented by product type, application, distribution channel, and region. Based on product type, it is categorized into Biopsy Needles, Pen Needles, IV Catheter Needles, Dental Needles, Blood Collection Needles, Epidural Needles, Cannula Needles, Fine Aspirating Needles, Hypodermic Needles, Suture Needles, Implantation Needles, Ophthalmic Needles, Spinal Anaesthesia Needles, and AV Fistula Needles. By application, it bifurcates into drug delivery and sample collection. Distribution channel of special purpose needles are bifurcated into private clinics, e-Commerce, hospital pharmacies, retail pharmacies & drug stores. Based on regional insights, the global special purpose market is categorized into North America (US, Canada, Mexico, Rest of America), Asia Pacific (India, China, Rest of Asia Pacific), Europe (UK, Germany, Russia, Rest of Europe) and Rest of the world (Latin America and Middle East & Africa).
North America is expected to witness significant growth during the forecast period owing to the presence of advanced medical infrastructure and increasing awareness among the consumers regarding infection spread from the needles. Such reasons are projected to augment the market growth in the upcoming years.
Asia Pacific region is expected to deliver significant growth owing to the increasing geriatric population in the region with rising cases of diseases, rapidly evolving healthcare facilities & government support to boost the healthcare system, emphasis on high-quality product offering to the patients, huge R&D investments.
Prominent players inducing the Global Special Purpose Needles Market are Boston Scientific Corporation, Becton, Stryker Corporation, Dickinson and Company, B. Braun Melsungen AG, Medtronic Plc., Novo Nordisk A/S, Cook Medical, SERAG-WIESSNER GmbH & Co., Terumo Corporation, NIPRO Medical Corporation, Argon Medical Devices Inc., and Smith’s Medical among others.
Segmentation and Scope of the Global Special Purpose Needles Market
Global Special Purpose Needles Market is segmented by product type, application, distribution channel, and region.
By Product Type
By Distribution Channel
Rest of World
Middle East & Africa
Prominent players in the Global Special Purpose Needles Market among other includes