HOME Research Insight Product Launches, Agreements, and Collaborations, are the Key Strategies Adopted by Leading Market Players to Foster Growth in the Global Needles Market



Product Launches, Agreements, and Collaborations, are the Key Strategies Adopted by Leading Market Players to Foster Growth in the Global Needles Market


The global needles market is projected to reach USD 8.47 Billion by 2022 from USD 5.82 Billion in 2017, at a CAGR of 7.8%. Factors such as the growing geriatric population, increasing number of hospitals in emerging markets, high prevalence of chronic diseases, and increasing demand for vaccines are driving the growth of the needles market. On the other hand growing focus on the development of alternative drug delivery methods and rising needle stick injuries are some of the key factors limiting the growth of the market.

The key players in the global needles market include Hamilton Company (U.S.), Medtronic plc (Ireland), Becton, Dickinson and Company (U.S.), Stryker Corporation (U.S.), B. Braun Melsungen AG (Germany), Boston Scientific Corporation (U.S.), Terumo Corporation (Japan), Novo Nordisk A/s (Denmark), Smiths Medical (U.K.), and Thermo Fisher Scientific (U.S.).

Analysis of the market developments between 2014 and 2017 (May) reveals that market players are focusing on new product launches to strengthen their market position by developing and providing technologically advanced products to its customer base. In line with this, in October 2016, B. Braun Melsungen AG (Germany) launched the Ultra 360 needles, with the aim to expand its interventional vascular diagnostics & therapy segment portfolio. Likewise, in January 2017, Boston Scientific Corporation (U.S.) launched its Acquire Endoscopic Ultrasound Fine Needle Biopsy (FNB) Device, to cater to the increasing demand of biopsy needle devices.

Additionally, market players are also engaged in acquisitions, collaborations and agreements with the aim to strengthen their market presence and product portfolio.

In addition to the above stated top market players, companies such as Allison Medical, Inc. (U.S.), A. Menarini Diagnostics (U.K.), Vita Needle Company (U.S.), and Argon Medical Devices, Inc. (U.S.), Nipro Corporation (Japan), Ypsomed Holding (Switzerland), Cook Medical (U.S.), and Integra LifeSciences Corporation (U.S.) are also primarily focused towards launching new products and are entering collaborations and partnerships in order to strengthen their footprint in the needles market.

Related Reports:

Needles Market by Type (Conventional (Bevel, Vented) & Safety), Product (Suture, Blood Collection, Insufflation), Material (Stainless Steel, Plastic), Delivery Mode (IV, IM, Hypodermic), End-User (Hospitals, Diagnostic Centers) - Global Forecast to 2022

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