Press release
Global Needle Market Projected to Surpass $12.09 Billion by 2029 with 8% Annual Growth
Needle
The rising number of ambulatory surgical centers (ASCs) is expected to boost the needle market. ASCs are healthcare facilities specializing in outpatient surgical procedures. As these centers increase due to technological advancements and the demand for outpatient services, the need for needles in various procedures, including injections and suturing, also grows. In 2023, the number of ASCs in the U.S. rose to 6,223, and the sector is expected to continue growing. This increase in ASCs is contributing to the expansion of the needle market.
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What growth opportunities are expected to drive the needle market's CAGR through 2034?
The needle market has grown strongly, increasing from $8.21 billion in 2024 to $8.89 billion in 2025 at a CAGR of 8.3%. Key drivers include rising prevalence of chronic diseases, vaccination programs, surgical procedures, and government regulations.
The needle market is expected to grow to $12.09 billion by 2029, with a CAGR of 8.0%, driven by chronic disease prevalence, vaccination programs, self-administration trends, and rising healthcare spending. Trends include smart needles, safety features, biodegradable materials, and personalized medical solutions.
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What are the emerging trends shaping the future of the needle market?
Companies in the needle market are focusing on developing innovative solutions, such as state-of-the-art conventional transbronchial needles, to revolutionize minimally invasive diagnostics. These advanced needles are used in bronchoscopy procedures to obtain tissue samples from the lungs and nearby areas. For instance, in September 2023, Broncus Medical Inc., a US-based medical device manufacturer, introduced the BIOSTAR, a cutting-edge needle designed for transbronchial needle aspiration (cTBNA) and endobronchial ultrasound (EBUS) procedures. The BIOSTAR offers superior diagnostic accuracy and sample quality, enhancing lung cancer and sarcoidosis diagnoses.
Which growth-oriented segments of the needle market are leading the industry's development?
The needle market covered in this report is segmented -
1) By Type: Conventional Needles, Safety Needles
2) By Material: Stainless Steel Needles, Plastic Needles, Glass Needles, Peek Needles
3) By Application: Surgical Suture Needles, Pen Needles In Diabetes, Blood Collection Needles, Ophthalmic Procedure Needles, Dentistry Needles, Insufflation Needles, Other Needles
4) By End User: Hospital, Clinics, Diagnostic Centers, Research Institutions, Home-Based Care, Other End Users
Subsegments:
1) By Conventional Needles: Hypodermic Needles, Intravenous (Iv) Needles, Insulin Needles, Blood Collection Needles
2) By Safety Needles: Safety Hypodermic Needles, Safety Insulin Needles, Safety Blood Collection Needles, Auto-Disable Safety Needles
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Which regions are key players in the growth of the needle market?
North America was the largest region in the needle market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the needle market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What companies are at the forefront of innovation in the needle market?
Major companies operating in the needle market are Johnson & Johnson, Siemens AG, Thermo Fisher Scientific Inc., Abbott Laboratories, Medtronic PLC, Novo Nordisk AS, Merck KGaA, Becton Dickinson (BD), Stryker Corporation, Boston Scientific Corporation, Terumo Corporation, Ethicon US LLC, Illumina Inc., PerkinElmer Inc., Shimadzu Corporation, Smiths Medical, B. Braun AG, Bio-Rad Laboratories Inc., Cook Medical, QIAGEN N.V., Abcam PLC, Promega Corporation, Luminex Corporation, NIPRO Medical, Biotronik SE & Co. KG
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What Is Covered In The Needle Global Market Report?
•Market Size Forecast: Examine the needle market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the needle market for a structured understanding.
•Key Players Overview: Analyze major players in the needle market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the needle market.
•Segment Contributions: Evaluate how different segments drive overall growth in the needle market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the needle market.
•Industry Challenges: Identify potential risks and obstacles affecting the needle market.
•Competitive Landscape: Review strategic developments in the needle market, including expansions, agreements, and new product launches.
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