The growing geriatric population, increasing number of hospitals in emerging markets, high prevalence of chronic diseases, and increasing demand for vaccines are the major factors driving the growth of the needles market across the globe.
However, the rising needlestick injuries and infections, use of needle-free technology, and growing focus on the development of alternative drug delivery methods are the major factors that are expected to restrain the growth of needles market.
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Stakeholders
- Needle manufacturers, suppliers, and distributors
- Injectable device manufacturers, suppliers, and distributors
- Healthcare institutions (hospitals and outpatient clinics)
- Clinical centers
- Pharmaceuticals companies
- Medical research laboratories
- Consulting firms
Geographically, emerging Asian countries offer high-growth opportunities for market players. As of 2017. The conducive regulatory policies for the approval of new injectables and rapid growth in the geriatric population are key factors influencing the growth of the Asia-Pacific needles market.
A majority of the leading players, including Medtronic plc (Ireland), Ethicon US, LLC. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Novo Nordisk A/S (Denmark), Becton, Dickinson and Company (U.S.), Stryker Corporation (U.S.), and Boston Scientific Corporation (U.S.), among others in the needles market are developing advanced needles enabled with safety features to secure their position in the market.
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