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

Needles Market size was valued at USD 6.51 billion in 2019 and is poised to grow from USD 7.06 billion in 2023 to USD 12.6 billion by 2031, growing at a CAGR of 8.6% in the forecast period (2024-2031).

A needle is a tiny, thin, typically steel sewing tool with an eye for a thread or surgical sutures on one end. Needles are used for numerous things, including processing blood, performing dental and surgical operations, and delivering medications to the body through infusions. It has three sections: a long shaft, an incline, and a central piece, and it fits into the syringe's component. In clinical practice, numerous needle types are often used for a variety of treatments, including the delivery of medications via different skin layers, cosmetic procedures, and various surgical procedures. As a result, there are many different kinds of needles available.

Certain treatment plans are linked to pain and anxiety because they cause the brain's pain receptors to be activated by a variety of psychological and physiological variables. For instance, during dental operations, dental injection is closely related to both pain and anxiety. Additionally, it is anticipated that increased awareness of the benefits of blood donation will spur market expansion in the near future. Voluntary blood donations can reduce the blood supply shortfall; however, this will increase the need for needles and syringes.

The market has been considerably and favorably affected by COVID-19. Worldwide medication discovery and research and development efforts increased as a result of this epidemic. The expansion in demand for needles was directly affected by increased funding for projects related to the development of a COVID vaccination. Additionally, a higher hospitalization rate fueled the market expansion. In addition, the growing number of hospitals and other healthcare institutions throughout the world bodes well for the future of needles.

Increased prevalence of chronic and lifestyle illnesses, particularly diabetes, technical developments in the worldwide needles market, and rising consumer demand for high-tech hypodermic needle solutions are predicted to propel market expansion. However, the availability of substitute drug administration methods, a lack of understanding about safety syringes, and the expensive price of hypodermic needles restrain market expansion. The projection for the worldwide needles market is predicted to have a wide range of possibilities due to the spike in demand for hypodermic needles, increase in disposable income, and development potential in rising economies in Asia-Pacific and LAMEA.

US Needles Market is poised to grow at a sustainable CAGR for the next forecast year.