Filter Needles Market Share, Size, Trends, Industry Analysis Report, By Raw Material (Stainless Steel, Glass, Others); By End-use; By Region; And Segment Forecasts, 2023 - 2032

Filter Needles Market Share, Size, Trends, Industry Analysis Report, By Raw Material (Stainless Steel, Glass, Others); By End-use; By Region; And Segment Forecasts, 2023 - 2032

The global filter needles market size is expected to reach USD 3.91 billion by 2032, according to a new study by Polaris Market Research. The report “Filter Needles Market Share, Size, Trends, Industry Analysis Report, By Raw Material (Stainless Steel, Glass, Others); By End-use; By Region; And Segment Forecasts, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The scope of the Filter Needles Market encompasses various aspects related to the production, distribution, and application of filter needles in healthcare settings. Filter needles come in various sizes, designs, and materials, with different micron ratings for the filter. The market includes single-use and multi-use filter needles, each catering to specific needs in the healthcare industry. These are primarily used in healthcare settings for drawing up medication from vials and ampules and passing them through a filter before administration. Common applications include intravenous (IV) medication administration, chemotherapy, and other medical procedures that require sterile and particle-free solutions.

The growing elderly population, advancements in technology, and the higher incidence of chronic wounds are propelling the market. The rising prevalence of different chronic wounds worldwide is expected to fuel market growth. These chronic wounds include diabetic foot ulcers, venous leg ulcers, and pressure ulcers. It is essential to have blunt filter needles or filter straws equipped with a 5-micron filter whenever medication is withdrawn from a glass ampoule. This practice is crucial to minimize glass particle contamination, ensuring patient safety and reducing the potential risk of harm to patients.

Diabetic foot ulcers are typically a result of prolonged diabetes in patients. The escalating global rate of diabetes in all age groups is a major contributor to the widespread occurrence of the diabetic foot ulcers. According to research conducted by the National Center for Biotechnology Information (NCBI), the prevalence rates of diabetic foot ulcers in various regions were as follows in 2017: 13.0% in North America (highest), 5.5% in Asia, 7.2% in Africa, 5.1% in Europe, 1.5% in Australia, 16.6% in Belgium, 14.8% in Canada, and 13.0% in the U.S.

The occurrence of pressure ulcers is on the rise due to a rapidly aging global population and an increase in disabilities. In the U.S., approximately USD 11 Bn is spent each year on treating the pressure ulcers, as reported by the National Center for Biotechnology Information (NCBI). Additionally, the prevalence rate of pressure ulcers among nursing home patients is around 11% each year, indicating high incidence and prevalence rates expected to persist in the future.

Venous leg ulcers, open sores occurring between the ankle & knee due to the venous disease, are the most common type of the leg ulcer. According to NCBI, the prevalence rate of these ulcers ranges from 0.18-1%. These ulcers represent an advanced stage of chronic venous disorders, with a recurrence rate exceeding 70.0%. The widespread presence of such chronic wounds is anticipated to drive market growth in the upcoming years.

Filter Needles Market Report Highlights

In 2022, the stainless-steel segment held the largest share of the filter needle industry, owing to its low-price range and huge portfolio of offerings by the key players.

The hospital segment accounted for the fastest market during the forecast period, primarily because of the rise in surgeries and the high penetration of medical supplies.

APAC will grow at a rapid pace, owing to the presence of a huge population seeking medical treatment.

In 2022, North America held the largest market share, owing to the presence of key layers in the sector and a huge network of hospitals.

The key market players include BD, Cardinal Health, Myco Medical, Stryker, B. Braun, Sol-Millennium, Terumo Corporation, ICU Medical, Boston Scientific Corporation, and Thermo Fisher Scientific.

Polaris Market Research has segmented the filter needles market report based on raw material, end use, and region:

Filter Needles, Raw Material Outlook (Revenue - USD Billion, 2023 - 2032)

Stainless Steel

Glass

Others

Filter Needles, End Use Outlook (Revenue - USD Billion, 2023 - 2032)

Hospitals

Clinics

Ambulatory Surgery Centers

Others

Filter Needles, Regional Outlook (Revenue - USD Billion, 2023 - 2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Latin America

Argentina

Brazil

Mexico

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa