Needles Market Increasing Demand for Vaccines, Globally Explore By Top Players Becton, Dickinson and Company, Medtronic plc, Boston Scientific Corporation, Stryker Corporation, Novo Nordisk A/s, Thermo Fisher Scientific

Needles are integral part of healthcare functions. Needles provide advantage over other routes of administration such as quick release of the drug in bodily fluids and instant relief for the patients. It has various applications ranging from surgical use to blood collection to drug administration. Needles such as safety needles are increasingly used in order to avoid needle stick injuries and infection. Needles such as pen needles are used by diabetic patients who need daily dose of insulin which is injected subcutaneously.

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Market Dynamics

Major factor driving growth of the needles market is increasing demand for vaccines, globally to prevent various diseases such as measles, rubella and hepatitis B. According to World Health Organization (WHO) 2018, globally around 86% of infants are vaccinated against 26 diseases, however, 19.5 million children unvaccinated leading to death of 2-3 million children each year. Human papilloma virus causes cervical cancer and around 280,000 women died from cervical cancer in 2015 globally, which led to introduction of vaccine to prevent cervical cancer, in turn positively affecting needles market. Introduction of stringent guidelines for safe injection practices is expected to aid in growth of the needles market. For instance, WHO issued safe injection practices and guidelines in 2010, for its member country. Also, Association of Professionals in Infection Control and Epidemiology in the U.S. issued updated guidelines in 2016 to prevent spread of infectious disease through unsafe injection practices.

High prevalence of chronic diseases worldwide is projected to fuel growth of the needles market

Several factors are associated with increasing adoption of needles worldwide. One of the major factors is high prevalence of chronic disease across the world, which is propelling demand for needles. According to the World Health Organization (WHO), in 2017, non-communicable diseases such as cancer, diabetes, cardiovascular diseases, and lung diseases accounted for around 70% death worldwide, which was majorly from middle and low income economies. Furthermore, chronic diseases are expected to account for around 75% of all deaths worldwide by 2020. Therefore, this is expected to aid in market growth, as needle is an integral part of chronic disease treatment.

Growing geriatric population worldwide to drive growth of the global needles market

Rising geriatric population is expected to drive growth of the needles market. As per World Population Prospect, 2017 Revision report by United Nations in 2017, there were 962 million people, under the geriatric category (people aged 60 years and above). By 2030, this is projected to be 1.4 billion increasing at an annual rate of 3%. Geriatric people require frequent hospitalizations due to aging-associated diseases such as heart disease, stroke, diabetes and falling injuries. In certain cases, surgery is required which leads to hospitalization. This is expected to aid in growth of the market. Asia Pacific has a geriatric population of 547 million people, which is expected to reach 900 million geriatric population by 2025.

Needles Market - Key Players

Some of the key players operating in the global needles market are

1. Becton
2. Dickinson and Company
3. Medtronic plc
4. Hamilton Company
5. Stryker Corporation
6. Terumo Corporation
7. B. Braun Melsungen AG
8. Boston Scientific Corporation
9. Nipro Medical Corporation
10. Novo Nordisk A/s
11. Thermo Fisher Scientific
12. Smiths Medical

Detailed Segmentation:

By Needles Type: Conventional Needles, Safety Needles
By Delivery Site: Intradermal, Subcutaneous, Intravenous, Intramuscular, Intraperitoneal
By Application: Pen Needles in Diabetes, Blood Collection Needles, Surgical Suture Needles, Ophthalmic Procedure Needles, Dentistry Needles, Insufflation Needles, Other Applications
By Material: Stainless Steel Needles, Plastic Needles, Glass Needles, PEEK(Polyether Ether Ketone) Needles

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This release was published on openPR.