Steady Expansion Forecast for Needle Market, Projected to Reach $11.63 Billion by 2029

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Needle Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The strong expansion of the needle market in the past few years will continue, with the expected growth from $8.21 billion in 2024 to $8.82 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 7.4%. The historical growth of this market is due to the heightened prevalence of chronic illnesses, vaccine initiatives, surgical operations, and governmental policies.

Needle Market Size Forecast: What's the Projected Valuation by 2029?
Projections indicate a robust increase in the needle market size in the coming years, with an expectation to reach $11.63 billion in 2029, a 7.2% compound annual growth rate (CAGR). Such growth in the forecast period could be due to the escalating burden of chronic illnesses, enlarged vaccination programs, rising requirements for self-administration tools, government measures for healthcare availability, and growth in healthcare spending. Leading trends for the forecast period incorporate technological innovation, incorporation of safety elements, eco-friendly needles, intelligent needles, customization, personalization, and distance health care.

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What Are the Drivers Transforming the Needle Market?
The needle market is anticipated to expand thanks to the growing quantity of ambulatory surgical centers (ASCs). ASCs are specialized care facilities that concentrate on outpatient surgical procedures, eliminating the necessity for patients to stay overnight in a hospital. As a result of technological advancement, the preference for outpatient procedures, and the attraction of specialized care, these centers are becoming more prevalent globally. Processes such as injections, suturing, and tissue sampling rely on needles, which are crucial tools within ambulatory surgical centers. They're also vital for administering medication, blood drawing, and providing precision in wound closure. For example, Olympus America Inc., a U.S.-based medical technology firm, reported that the number of ASCs rose from 6,109 facilities to 6,223 in July 2023, presenting a predicted growth of 12% over the subsequent five years. Thus, the increasingly prominent presence of ambulatory surgical centers is propelling the expansion of the needle market.

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What Long-Term Trends Will Define the Future of the Needle Market?
Leading companies in the needle market are channeling their efforts towards the creation of groundbreaking products such as the modern conventional transbronchial needles to revolutionise the field of minimally invasive diagnostics. These innovative conventional transbronchial needles represent high-level medical tools used in bronchoscopy procedures to secure tissue samples from lungs or neighboring structures. In September 2023, Broncus Medical Inc., a medical device producing company hailing from the US, unveiled the BIOSTAR, a state-of-the-art conventional transbronchial needle aspiration (cTBNA) and endobronchial ultrasound TBNA (EBUS-TBNA) needles, which are bringing about substantial changes in the minimally invasive diagnostic procedures. These newfangled needle designs excel in areas of diagnostic precision, adequacy of the sample, sensitivity, surpassing the traditional approaches, especially in the staging of lung cancer and sarcoidosis diagnosis. The needle sizes offered comprise 25G, 22G, 21G, and 19G. Each size variation significantly impacts the volume of the sample, blood aspiration, sample quality, and diagnostic yield. The needles from BIOSTAR symbolize a considerable leap in the progress of minimally invasive diagnostic procedures, improving patient care and diagnostic findings.

Which Segments in the Needle Market Offer the Most Profit Potential?
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 Firms Dominate the Needle Market by Market Share and Revenue in 2025?
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

Which Regions Offer the Highest Growth Potential in the Needle Market?
North America was the largest region in the needle market in 2024. 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.

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