Special Purpose Needles Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Product Type (Aspiration Needle, Blood Collection Needle, Biopsy Needle, Epidural Needle, Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies And Drug Stores, E-Commerce, Private Clinics), And By Geography - Forecasts From 2022 To 2027

The global special purpose needles market is evaluated at US$10.304 billion for the year 2020 and is projected to grow at a CAGR of 7.65% to reach a market size of US$17.268 billion by the year 2027.

Special purpose needles are generally employed in cases of chronic diseases that require continuous monitoring. Special purpose needles are generally target-oriented. They are employed for injection drugs or medicines in target-oriented places or parts. Special purpose needles are segmented into different types depending on their functionality and usage. The biopsy needle is a certain type of special-purpose needle employed for biopsy procedures and treatment purposes. Needles such as ophthalmic needles, pen needles, and spinal anesthesia needles are commonly used to aid surgical procedures and purposes.  The needles, like the blood collection ones, are employed for the collection of certain specimens. The usage of special-purpose needles for treatment and drug administration for chronic lifestyle diseases like diabetes is driving the market growth of special purpose needles, as the cases of lifestyle, diseases have been increasing around the world. The rising cases of gynecologic cancer are also fuelling the need and market growth of special purpose needles. The widespread usage of special purpose needles in infertility treatment is also pushing the growth of the global special purpose needles market. The rising trend of keyhole surgeries and target-oriented treatment methods is also pushing the market demand for special purpose needles. The investment of major market players in the research and development of needles and target-oriented treatment techniques are resulting in rapid development and growth in the global special-purpose needle market.

The recent outbreak of the COVID-19 pandemic has restricted the market growth of the special purpose needle market to a certain extent. The negative impact of the COVID-19 pandemic on the health and medical fields restricted the growth of the global special purpose needles market. The fear of people associated with going to hospitals and healthcare centres, due to COVID spread has resulted in a reduced number of people visiting hospitals for treating regular lifestyle diseases and check-ups. The focus of hospitals and healthcare centres towards controlling and treating COVID also resulted in a decreasing demand for special purpose needles, during the COVID period. The regulations imposed by nations on trade disrupted the supply chain and halted imports and exports, leading to the decline of the global special purpose needle market amid the pandemic.

The rising rates of fertility treatment and gynaecologic cancer  

The rising rate of fertility treatments is one of the major factors driving the growth of the global special purpose needles market. Fertility treatment procedures or techniques widely employ special purpose needles for the collection of samples and other specimens for fertility treatment procedures. The target-oriented treatment nature of fertility treatment is increasing the demand and need for special purpose needles in the health sector. The widespread application of special purpose needles for biopsy procedures is also fuelling the growth of the global special purpose needles market. The growth trend seen in biopsy procedures is leading to an increased demand for special-purpose needles. The increasing cases of gynaecologic cancer is another factor driving the growth of the global special purpose needles market. The data of the ACS (American Cancer Society) states that approximately 110,070 new cases of gynaecologic cancer are reported in the U.S. alone. This is anticipated to have a positive impact on the special-purpose needles market during the forecast period.

Prevailing chronic diseases

The increasing cases of chronic diseases are also a major factor driving the growth of the global special purpose needles market. The treatment of several chronic diseases is done with the assistance and support of special-purpose needles. Special purpose needles are widely employed for the purpose of treating severe chronic diseases. Certain implantation procedures and the collection of samples are effectively done with the support of special-purpose needles. The new advancements and developments in special purpose needles like pain-free needles are also contributing to the fast growth of the global special-purpose needles market.

North America has the largest market share. Geographically, North America is the region that holds a major share in the global special purpose needle market. The developed healthcare facilities and advancements in medical technologies are increasing the market share of the North American region in the global special-purpose needles market. The presence of major players in the healthcare and medical equipment fields is also fuelling the market growth of the special-purpose needles market in the North American region.

Special Purpose Needles Market Scope:

Segmentation

• By Product Type
  • Aspiration Needle
  • Blood Collection Needle
  • Biopsy Needle
  • Epidural Needle
  • Others
• By Distribution Channel
  • Hospital Pharmacies
  • Retail Pharmacies and Drug Stores
  • E-Commerce
  • Private Clinics
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • UK
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Others

Frequently Asked Questions (FAQs)

Q1. What will be the special purpose needles market size by 2027?
A1. The special-purpose needles market is projected to reach a total market size of US$17.268 billion in 2027.

Q2. What are the growth prospects for the special purpose needles market?
A2. The global special purpose needles market is projected to grow at a CAGR of 7.65% during the forecast period.

Q3. What is the size of the global special purpose needles market?
A3. Special Purpose Needles Market was valued at US$10.304 billion in 2020.

Q4. What factors are anticipated to drive the special purpose needles market growth?
A4. The rising rate of fertility treatment is one of the major factors driving the special purpose needles market growth.

Q5. Which region holds the largest market share in the special purpose needles market?
A5. North America region is holding a major share in the global special purpose needles market owing to the developed healthcare facilities and advancements in medical technologies.