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Special Purpose Needles Market

Segmentation by Product Type (Fine Aspirating Needles, Biopsy Needles, and Hypodermic Needles); by Application (Sample Collection, Vaccination, and Drug Delivery); and by Distribution Channel (Hospital Pharmacies, Private Clinics, Retail Pharmacies, and Drug Stores) – Global Demand Analysis & Opportunity Outlook 2031

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Report ID: 199 | Published On: Feb 14, 2023
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Global Special Purpose Needles Market Regional Synopsis

The global special purpose needles market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific region is estimated to witness steadfast growth during the forecast period on the account of increasing demand for passive drugs, and the requirement of special purpose needles especially for the rising geriatric population across the Asia Pacific region. According to the United Nations sexual and reproductive health agency (UNFPA), 60 percent population of the world is in Asia. Further, the population above 65 years of age in India crossed 90,719,952 in 2020, while, it crossed 167,808,567 in China, as per the World Bank. So, the highest growth rate for the market over the forecast period is expected across the Asia Pacific region.

The market in the North America region is projected to hold the leading share in the forecast period on the back of its focus on the development of next-generation microneedle and needle-free injection technology for the growing demand of it, and increasing awareness of special purposed needles such as pre-filled syringes.

Special Purpose Needles Market Share

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The global special purpose needles market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook

  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook

  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook


Special Purpose Needles Market
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Major Macro-Economic Indicators Impacting the Market Growth
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Healthcare Expenditure per Capita, (USD), 2015-2018

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.


Market Segmentation

Our in-depth analysis of the global special purpose needles market includes the following segments:

By Product Type

  • Fine Aspirating Needles
  • Biopsy Needles
  • Hypodermic Needles

By Application

  • Sample Collection
  • Vaccination
  • Drug Delivery

By Distribution Channel

  • Hospital Pharmacies
  • Private Clinics
  • Retail Pharmacies
  • Drug Stores


Growth Drivers
  • Growth of Next-Generation Microneedle and Needle-Free Injection Technology
  • Awareness of Special Purposed Needles such as Pre-Filled Syringes

Challenges

  • Technical Challenges on a Product-by-Product Basis
  • High Viscosity of Biological Products


Healthcare Expenditure per Capita, (USD), 2015-2018
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Top Featured Companies Dominating the Market

    • Sanofi-aventis Groupe
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Terumo Group
    • Smith’s Medical Inc.
    • Boston Scientific Corporation
    • Stryker Corporation
    • Nipro Medical Corporation
    • Cook Group Incorporated
    • Medtronic Plc 
    • Cardinal Health, Inc.
    • SERAG-WIESSNER GmbH & Co. KG

In The News

  • April 2022: IBSRELA the first and only NHE3 inhibitor for the treatment of irritable bowel syndrome with constipation (IBS-C) in adults, has been made available by the biopharmaceutical company Ardelyx. The first Ardelyx product to receive approval from the US Food and Drug Administration is IBSRELA.
  • March 2022: Indegene a provider of technology-driven healthcare solutions, & meta Me Health, a maker of Regulora and a Prescription Digital Therapeutics (PDT) business, teamed up to offer Regulora as a remedy for irritable bowel syndrome-related stomach pain (IBS).

Global Economic Impact

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Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the special purpose needles market?

Ans: Growth of next-generation microneedle and development of needle-free injection technology, and increasing awareness of special purpose needles.

2) What would be the CAGR of special purpose needles market over the forecast period?

Ans: The market is anticipated to attain a notable CAGR of ~8% over the forecast period, i.e., 2022-2031.

5) Who are the major players dominating the special purpose needles market?

Ans: The major players in the market are Terumo Group, Smiths Medical, Boston Scientific Corporation, Stryker Corporation, Nipro Medical Corporation, Cook Group Incorporated, India Medtronic Private Limited, Cardinal Health, Inc., and SERAG-WIESSNER GmbH & Co. KG.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the special purpose needles market?

Ans: The market is segmented by type, application, distribution channel and by region.

8) Which sub-segment segment captures the largest market size in product type segment in the market?

Ans: Hypodermic needles segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities post Covid 19 pandemic.

8) What are the challenges affecting the market growth?

Ans: Technical and developmental challenges are estimated to hamper the market growth.

8) Which region will provide more business opportunities for growth of special purpose needles market in future?

Ans: Asia-pacific region is expected to provide more business opportunities for growth on the account of increasing demand for passive drug, and the requirement to use special purpose needles in the future.

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