Needles Market Overview
The global needles market is expected to witness substantial growth in coming years, mainly due to the rising prevalence of chronic diseases, surging geriatric population, increasing number of hospitals in emerging economies, and rising demand for vaccines globally.
On the basis of types of needle, the needles market has been classified into conventional and safety needles. The conventional category generally includes bevel, blunt fill, filter, and vented needles; whereas, safety needles category includes passive and active needles. The market for safety needles is expected to advance at a faster pace, during the forecast period. Becton, Dickinson and Company offers both passive and active safety needle-based system.
Based on products, the needles industry is bifurcated into suture, blood collection, ophthalmic, dental, insufflation, pen needles, and others. The pen needles category is expected to hold the largest share in the market in coming years, mainly due to the rising pool of diabetic patients, globally. According to the WHO, the prevalence of diabetes among adults over 18 years of age has risen from 4.7% in 1980 to 8.5% in 2014, globally.
The needles market has been categorized into hypodermic, intravenous, intramuscular and intraperitoneal, based on the delivery mode. The hypodermic needles category is expected to hold the largest share in the market throughout the analysis period. These needles are used to inject drugs into the subcutaneous layer of skin, that enables the active compounds to be quickly absorbed into the bloodstream, which is the key factor contributing to the market growth of this category.
Needles are made up of metal, plastic, glass, and PEEK materials. Owing to the reusability and durability of metal needles, the category is expected to hold the largest share in the needles market.
Hospitals and diagnostic centers are the prime end users in the needles industry. Other than these, clinics, ambulatory surgery centers, nursing homes, and at-home are also the end users of these products. Hospitals is expected to be the largest end-user category in the coming years, owing to increasing healthcare institutions and spur in patient base in hospitals. According to the European Commission, related to the population size, discharge rates in 2015 for inpatients were generally in the range 10.2-20.7 thousand per 100,000 inhabitants in most of the EU member states, indicating high patient base, which would lead to increased requirement of needles in the region.
Needles Market Dynamics
Growth Drivers
Increasing adoption of injectable drugs, rising demand for vaccination, increasing medical costs, and growing demand for hormone supplements are the key factors leading to the growth of the needles industry, globally. According to the United Nations Children’s Fund (UNICEF), in 2017, global coverage rates for the third dose of the diphtheria, tetanus and pertussis vaccine (DTP3) reached 85%, from 72% in 2000 and 21% in 1980. Still, 71 countries are yet to achieve the Global Vaccine Action Plan (GVAP) target of 90% or greater coverage of DTP3.
Furthermore, owing to the benefits of injectable drugs over tablet formulations, the companies are focusing on the development of injectable drug delivery systems, including syringes and needles. Various pharmaceutical and biotechnology companies are continuously involved in the development of effective and novel injectable drugs for the treatment of chronic diseases, which has led to high production of needles and syringes.
Moreover, the growing demand for point-of-care diagnostic products also boost the demand for needles across the globe. Globally, the pharmaceutical industry is experiencing shift from dose administration in healthcare settings to the point-of-care settings. The medical device manufacturers are also moving their focus toward the development of user-friendly and patient compliant devices including syringe systems. In addition, it has decreased the overall medical expenses of the patients, which required clinics and hospitals visits for every dose of injection.
Opportunities
Rising demand for self-injectables and use of safety needles have created opportunities for the players in the needles industry. Self-injectables are highly useful in the emergency conditions, such as allergies; and chronic diseases, like diabetes and rheumatoid arthritis. Globally, increase in the number of diabetic patients has allowed the majority of the leading players in this market to manufacture needles for various self-administration devices, such as auto-injectors, pen-injectors, and needle-free injectors.
Needles Market Competitive Landscape
The needles industry is characterized by the wide presence of players, who offer a broad range of products, such as pen needles, hypodermic needles, and autoinjectors. Some of the major players operating in the market are Medtronic plc, Thermo Fischer Scientific Inc., Boston Scientific Corporation, Becton, Dickinson, and Company, Cook Medical LLC, Johnson & Johnson, B. Braun Melsungen AG, The Hamilton Company, Smiths Medical, Terumo Corporation, Vita Needle Company, NIPRO Medical Corporation, and Integra LifeSciences Corporation.
