Needles Market Size, Share, Growth Analysis, By Type(Conventional Needles, Safety Needles), By Product(Suture Needles, Blood Collection Needles, Ophthalmic Needles, Dental Needles), By Delivery Mode(Hypodermic Needles, Intravenous Needles, Intramuscular Needles, Intraperitoneal Needles), By Region - Industry Forecast 2024-2031

The needles market is dominated by North America due to the region's strong base of healthcare facilities, growing investment from major players in the development of cutting-edge devices, well-established distribution networks for needle product manufacturers, and an increase in research activities. For example, in 2021, investors closed 96 Medtech investments, a substantial increase from 55 in 2020 and a record-breaking 60 in 2018. Deal value increased to $40.8 billion from $3 billion in 2020, mostly because of the $34 billion Medline deal. Such fluctuations are typical in the industry, where substantial assets are not as common. Supply chain resilience and cost control, technology for alternative treatment, specialist contract manufacturing, and regulatory assistance are important issues for investors in North America and Europe.

Due to an increase in government programs to raise awareness, a rise in medical tourism, expanding research activities in the region, and a rising demand for high-quality healthcare in the region, Asia-Pacific is predicted to see considerable growth between 2022 and 2029. The percentage of hospitals expected to raise spending decreased from 30% to 40% to 15% to 25% as a result of continuous uncertainty. Australia and China revealed a planned spending attitude that was similar to last year's, despite the fact that most hospitals in the area are displaying more cautious planned expenditure compared to last year. In both nations, hospitals plan to raise spending in all categories by roughly 40% on average. Governments in the area have been working to control healthcare costs despite the pandemic response.