Lucintel’s latest market report analyzed that needle provides attractive opportunities in the pen, suture, and blood collection, dental, and ophthalmic segments. The needle market is expected to reach $9.4 billion by 2028 with a CAGR of 7%. In this market, safety needle is the largest segment by type, whereas pen needle is largest by product.
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Based on type, the needle market is segmented into conventional and safety needles. The safety needles segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to reduced risk of needle stick injuries along with lower probability of infection.
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The Needle Market is marked by the presence of several big and small players. Some of the prominent players offering needle include Medtronic, Becton, B. Braun Melsungen, Stryker Corporationl, Ethicon, Boston Scientific Corporation, Terumo Corporation, Olympus Corporation, Merit Medical, and Greiner Holding.
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