Filter Needles Market Size, Share & Trends Analysis Report By Raw Material (Stainless Steel, Glass), By End-use (Hospital, Clinics, Ambulatory Surgery Centers), By Region, And Segment Forecasts, 2021 - 2027

Report Overview

The global filter needles market size was valued at USD 1.4 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 7.2% from 2021 to 2027. The increasing number of road accidents across the globe is one of the major factors driving the market. The increasing incidence of accidents such as road accidents, burns, and trauma events across the globe is anticipated to drive the market for filter needles. For instance, as per the WHO (2018), around 1,000,000 people are severely or moderately burnt in India per year. In addition, as per NCBI, in 2017, countries such as Bulgaria, Finland, the Netherlands, China, Australia, and the U.K. reported a rise in the incidence of burn wounds. Furthermore, as per the American Association for the Surgery of Trauma, in 2017, around 1.2 million people died globally, accounting for the deaths of around 3,242 people per day in road accidents every year. Road accidents mostly occur in middle- or low-income countries. Filter needles are used to drain out pus-filled wounds caused due to accidents. Thus, the rising number of accidents is expected to boost the demand for filter needles, which is expected to lead to considerable market growth over the forecast period. 

The increasing prevalence of diabetes (both type I and type II) across the globe is expected to drive the market for filter needles. For instance, as per the International Diabetes Federation, the global prevalence of diabetes is expected to increase from 366.0 million in 2011 to 552.0 million by 2030. Since prolonged diabetes leads to diabetic foot ulcers, thus, the rising prevalence of diabetes is expected to render a positive impact on market growth over the forecast period.

Furthermore, the increasing geriatric population across the globe is also anticipated to propel the growth of the market for filter needles. For instance, as per the World Health Organization (WHO), the global geriatric population is anticipated to rise from 84.0 million in 2014 to 2.0 billion by 2050. Since the geriatric population is prone to chronic diseases and chronic ulcers, thus growing geriatric population is also expected to surge market growth over the forecast period.

Globally, the number of surgeries is increasing owing to which the incidence rate of surgical site infection is also anticipated to rise. According to the report published by the Health Research Educational Trust (HRET) in 2018, around 15.0 million surgeries are performed in the U.S. every year and approximately 2.0% to 5.0% of patients developed surgical site infection. Filter needles are used to drain pus and blood from the infected wounds and inject medication for proper healing of wounds. Such factors are expected to boost the growth of the market for filter needles over the forecast period.

Raw Material Insights

The stainless steel segment dominated the market for filter needles and held the largest revenue share of 44.7% in 2020 owing to the presence of a large number of key players offering this product and the comparatively low price of stainless steel. Moreover, the rising incidence of chronic wounds across the globe is also anticipated to boost the segment growth. Some of the companies offering this product are BD, Cardinal Health, and B.Braun Melsungen AG.

The glass segment is anticipated to witness the fastest growth over the forecast period in the market for filter needles. Technological advancements, a growing geriatric population, and an increasing number of road accidents are expected to drive the segment over the forecast period. However, some disadvantages associated with the use of a glass needle system include potential surface reactivity and glass contamination, and breakage.

End-use Insights

The hospital segment dominated the market for filter needles and held the largest revenue share of 45.3% in 2020 owing to the rising number of hospitals across the globe is also anticipated to surge segment growth over the forecast period. For instance, as per the report published by the American Hospital Association in 2019, around 6,210 hospitals were reported in the U.S. in 2018, of which 2,968 are nongovernment not-for-profit community hospitals and 972 are state and local government community hospitals.

The ambulatory surgery centers segment is anticipated to witness the fastest growth rate over the forecast period in the market for filter needles. Ambulatory surgery centers are also known as outpatient surgery centers and are generally opted for by patients undergoing less complicated procedures and requiring a limited period of stay. Currently, the demand for minimally invasive procedures is also increasing across the globe owing to its several advantages, which in turn the demand for ambulatory surgical centers is also anticipated to rise. Therefore, significant segment growth is expected over the forecast period.

Regional Insights

North America dominated the filter needles market and accounted for the largest revenue share of 35.6% in 2020. The market is expected to witness a growth rate of 3.9% in the region over the forecast period. Several favorable reimbursement policies, the introduction of technologically advanced products, and the presence of several key players in the market are anticipated to drive the market growth. In addition, this region is governed by regulatory bodies, which have laws for the reimbursement of medical devices.

In Asia Pacific, the market for filter needles is anticipated to witness a considerable growth rate during the forecast period. The presence of several local players in China and Japan is expected to boost market growth. However, certain developing countries in this region are expected to witness a moderate growth rate over the forecast period. The low adoption of advanced healthcare facilities and a lack of sufficient skilled professionals in such countries may hinder the growth of the market for filter needles. Moreover, a low rate of awareness among people regarding the treatment options and low healthcare reimbursement facilities in the developing countries is also anticipated to restrain market growth.

Key Companies & Market Share Insights

Key companies are stressing research and development to develop technologically advanced products to gain a competitive edge. In April 2016, Stryker acquired SafeWire’s product portfolio which includes Tiger Jamshidi Needle Family for minimally invasive spinal surgery. Such acquisition is expected to expand the product portfolio of the company and increase its market share. Some of the prominent players in the filter needles market include:

• BD

• Cardinal Health

• Sentra Medical

• Myco Medical

• Stryker

• B.Braun Melsungen AG

• SOL-Millennium 

Filter Needles Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global filter needles market report on the basis of raw material, end-use, and region:

• Raw Material Outlook (Revenue, USD Million, 2016 - 2027)

  • Stainless Steel

  • Glass

  • Others

• End-use Outlook (Revenue, USD Million, 2016 - 2027)

  • Hospitals

  • Clinics

  • Ambulatory Surgery Centers

  • Others

• Regional Outlook (Revenue, USD Million, 2016 - 2027)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

  • Asia Pacific

    • Japan

    • China

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa

    • South Africa

    • Saudi Arabia