| Status : Published | Published On : Jul, 2024 | Report Code : VRHC1284 | Industry : Healthcare | Available Format :
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Page : 95 |
APAC Needle Market – Analysis and Forecast (2025-2030)
Industry Insights By Type (Conventional Needles, Safety Needles, Bevel Needles, Blunt Fill Needles, Filter Needles, Vented Needles, Active Needles and Passive Needles), By Product (Suture, Blood Collection, Ophthalmic, Dental, Insufflation, Pen and Other), By Material (Hypodermic, Intravenous, Intramuscular and Intraperitoneal), By Delivery Mode (Glass, Plastic, Stainless, Polyether Ether Ketone), By End User (Hospitals, Diagnostic Centers, Home Healthcare and Others) and By Geography (China, India, Thailand, Malaysia and Vietnam)
Industry Overview
The APAC Needle Market is expected to grow from USD 1.65 billion in 2023 to USD 2.61 billion by 2030 at a CAGR of 8.1% during the forecast period ranging from 2025 to 2030.
Made from stainless steel material, needles are designed to offer precision in drug delivery and higher safety to minimize risks of infection due to needlestick injuries and patient discomfort. These are versatile and can be used for diverse applications and medical procedures, such as vaccinations, drug administration, and blood draws. Medical needles come in different type and sizes, like hypodermic, intravenous, and spinal needles. Growing prevalence of chronic diseases in this region is one significant factor driving the growth of the Asia-Pacific region. There is a number of cases of cancer, diabetes, and cardiovascular diseases that need medical needles for intervention, diagnosis, and treatment. Another significant growth factor is the growing aging population in specific countries like Japan and China who need more frequent medical treatments, thereby pushing the demand and market for needles. The high costs allied with technological developments of needles typically restricts their adoption within the low and middle-income countries within the APAC region, thereby hindering the market growth. However, growing investments by the governments and private sectors in healthcare infrastructure across the region present novel opportunities for market growth, potentially compensating the cost challenges and improving availabilityof advanced medical technologies.
Market Segmentation
Insight by Type
The APAC needle market is divided by needle type into conventional needles, safetyneedles, bevelneedles, blunt fillneedles, filterneedles, ventedneedles, activeneedles, and passive needles segments. Amongst all these segments, the safety needles segment will be growing at a higher CAGR due to higher demand, increasing awareness, and strict regulatory directives to prevent needlestick injuries.
Insight by Product
The APAC needle market is also separated byproducts into suture needles, blood collection needles, ophthalmic needles, dental needles, insufflation needles, pen needles, and other categories. Out of them, thesuture needles segment will grow more than the others during the forecast period due to widespread adoption and higher applicability in several medical procedures.
Insight by Delivery Mode
The APAC needle market is categorized by delivery modes into hypodermic needles, intravenous needles, intramuscular needles, and intraperitoneal needles categories. Out of all these categories, the hypodermic needles category is expected to grow faster and at a higher rate during the forecast period due to its versatile features and higher applicability for vaccinations, drug administration, and other purposes.
Insight by Material
According to the material, the APAC needle market is fragmented into glass needles, plastic needles, stainless steel needles, and polyether ether ketone needles segments. Among all these segments, the stainless-steel needles section will grow at a significant rate during the study period due it its durable, robust, and strong features along with its higher compatibility with a wider range of medical procedures.
Insight by End User
According to the end users, the APAC needle market is divided into hospitals, diagnostic centers, home healthcare, and others end users. Out of all these segments,the hospitals and diagnostic centers segment will grow more due to higher usage of needles for different procedures in these settings.
APAC Needle Market Report Coverage
|
Report Metric |
Details |
|
Historical Period |
2018 - 2023 |
|
Base Year Considered |
2024 |
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Forecast Period |
2025 - 2030 |
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Market Size in 2023 |
U.S.D. 1.65 Billion |
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Revenue Forecast in 2030 |
U.S.D. 2.61 Billion |
|
Growth Rate |
8.1% |
|
Segments Covered in the Report |
By Type, By Product, By Material, By Delivery Mode and By End User |
|
Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
|
Regions Covered in the Report |
China, India, Thailand, Malaysia and Vietnam |
Industry Dynamics
Industry Trends
There is a growing awareness of safer needles and a regulatory push for safer needles to avert needlestick injuries that may cause infection. This is driving higher adoption to enhance healthcare provider and patient safety in healthcare settings. The notable trend towards sustainability is also encouraging the development and use of biodegradable and eco-friendly needles to reduce environmental concerns and medical waste in the region. There is a rise in point-of-care diagnostic services in APAC, especially in rural and remote areas, which is driving the demand for portable and easy-to-use needles. Furthermore, the rising preference for home healthcare services in the region is increasing the demand for user-friendly and safe needles for at-home treatments and chronic disease management.
Growth Drivers
The growth of the APAC needles market is driven by the developing healthcare infrastructure of the region, providing facilities to enhance the accessibility and availability of medical services. Also, the rising government initiatives and vaccination programs in the region is escalating the demand for needles and the market growth. In addition, significant growth in medical tourism in the region is increasing the demand of all sorts of medical supplies for various diagnosis and treatments which includes needles. Apart from that, rapid technological developments and innovations in needle technology has increased the adoption of painless and safer needles, pushing the market in the region.
Challenges
Two of the most significant growth hindrances of the APAC needles market include the stringent regulatory requirements that delays the approval process and the variable standards across different APAC countries that affect the distribution of medical needles as well. Furthermore, restricted access to healthcare facilities in rural and remote areas curbs demand, thereby reducing the chances of widespread adoption and market growth. Also, the presence of inferior and counterfeit products impedes the market growth due to lower trust and safety.
Opportunities
The booming medical tourism industry in developing countries like India, Thailand, and Malaysia drives the demand for high-quality medical needles, which offers significant growth prospects to the APAC needle market. Also, rising initiatives of vaccinations, especially in response to infectious diseases, is creating significant demand for needles and the growth opportunities. In addition, continual research and development for innovative needle designs are attracting more healthcare providers and consumers, offering novel growth opportunities.
Geographic Overview
With no particular order of growth rate, the Chinese market is showing significant growth potential during the forecast period due to significant growth in healthcare infrastructure, rising aging population, and supportive government initiatives to improve healthcare access and quality, all leading to the higher demand for advanced medical needles.
The Indian market is expected to grow due to rising medical tourism, large number of governments sponsored healthcare programs like vaccinations, and a growing prevalence of chronic diseases. It is also attributed to the rising healthcare investments.
The Southeast Asian market comprising of Thailand, Malaysia, and Vietnam is also growing due to flourishing medical tourism, growing healthcare infrastructure, and growing healthcare expenditure, along with government efforts to improve medical services and accessibility.
Competitive Insight
Some of the big players of the APAC needle market are Nipro Corporation, and Terumo Corporation located in Osaka and Tokyo in Japan, Vaxxas located in Brisbane, Australia, Smiths Medical loated in Suzhou, China, Kangmei Pharmaceutical Co Ltd located in Guangdong, China, Shandong Weigao Group Medical Polymer Company Limited located in Weihai, China, Jiangsu Jichun Medical Devices Co Ltd located in Jiangsu, China, B. Braun Melsungen AG located in Penang, Malaysia, Retractable TechnologiesInc located in Penang, Malaysia, Becton, Dickinson and Company (BD) and Medtronic located in Singapore, and Hindustan Syringes & Medical Devices Ltd (HMD) located in Gurugram, India.
Recent Developmenst by Key Players
Becton, Dickinson and Company (BD) launched their BD UltraSafe Plus Passive Needle Guard that enahnces safety for healthcare workers and patients while removing needls.
Medtronic acquisitioned Intact VascularInc to exapnd its portfolio in vascular devices to the west including vascular needles.
Vaxxas developed needle free typhoid vaccine technologyfor which it received Wellcome Foundation award of USD 3.7 million.
The APAC Needle Market report offers a comprehensive market segmentation analysis along with the estimation for the forecast period 2025–2030.
Segments Covered in the Report
- Type
- Conventional
- Safety
- Bevel
- Blunt fill
- Filter
- Vented
- Active
- Passive
- Product
- Suture
- Blood
- Ophthalmic
- Dental
- Insufflation
- Pen
- Others
- Material
- Glass
- Plastic
- Stainless Steel
- Polyether Ether Ketone
- Delivery Mode
- Hypodermic
- Intravenous
- Intramuscular
- Intraperitoneal
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- Hospitals
- Diagnostic Center
- Home Healthcare
- Others
Region Covered in the Report
- China
- India
- Thailand
- Malaysia
- Vietnam
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APAC Needle Market