The global needle holders market growth forecasted to transform from USD 367.3 million in 2024 to USD 530.3 million by 2029, driven by a CAGR of 7.6%. The growth of this market is driven by increasing investments in healthcare, hospital development, a higher volume of surgeries, the growing trend of microsurgery, and the rise in cosmetic, plastic, and reconstructive surgeries. However, the high costs associated with these surgeries could limit the market’s growth.
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The mayo-hegar needle holder segment is expected to account for the largest share
The Needle holder market, by type, has been segmented into mayo-hegar needle holder, Olsen-hegar needle holder, derf needle holder, crilewood needle holder, Castroviejo needle holder, and other types. In 2023, the mayo-hegar needle holder segment accounted for the largest market share. This is because this type of needle holder is being used by most of the surgeons in a large number of major surgeries such as gynecology, cardiology, and laproscopic surgeries, among others. Additionally, mayo-hegar offers a firm grip which makes it easy to use and most preferred.
Stainless steel segment held the largest market share in the Needle holder market.
Based on material, the needle holder market is segmented into stainless steel needle holder, tungsten carbide needle holder, and other materials. The stainless-steel needle holder segment accounted for the largest market share in 2023. This can be attributed due to its cost-effectiveness which makes it more affordable for many small hospitals and other healthcare facilities. It is more durable, corrosion resistant, sterilizable due to which it can be used in multiple surgery after sterilization.
Reusable needle holder segment held the largest market share in the Needle holder market.
Based on usage type, the needle holder market is segmented into reusable needle holder and single use needle holder. The reusable needle holder segment is expected to dominate the market during the forecast period. Market growth can be attributed due to affordability as it can be reused after being sterilized which will help in reducing the repeat purchase frequency and help in cost cutting in the long run.
North America dominates the global Needle holder market
Based on the region, the Needle holder market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa, and GCC. The North America market is driven by availability of growing acceptance for MIS, large number of road traumas and incidents which will lead to a greater number of injuries that require the use of surgical instruments like needle holders for sutures and wound closure. The Asia Pacific segment is projected to register the highest CAGR during the forecast period. Development and expansion of healthcare infrastructure and facilities, greater proportion of geriatric population, and growing incidence of cardiac diseases, bone related problems, and c-sections are some of the major factors driving the growth of this regional market.
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Market Dynamics and Key Players
The needle holder market is concentrated, with a few major players dominating the space. Key companies include B. Braun Melsungen AG (Germany), Olympus Corporation (Japan), Karl Storz (Germany), Teleflex Incorporated (US), Integra LifeSciences Holdings Corporation (US), and Stille AB (Sweden).
B. Braun Melsungen AG
In 2023, B. Braun Melsungen AG led the needle holder market. The company maintains its top position through extensive distribution networks across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. B. Braun is a major manufacturer of surgical and microsurgical instruments, including needle holders used in a variety of surgeries such as cardiac, plastic, and orthopedic, contributing to its significant market share.
Olympus Corporation
Olympus Corporation held the second position in the needle holder market in 2023. Known for its trusted brand in the medical device industry, Olympus continues to invest heavily in research and development (R&D), increasing its R&D spending to USD 447 million in 2023 from USD 442 million in 2022. This investment supports Olympus in maintaining its competitive edge and enhancing its product offerings.
Teleflex Incorporated
Teleflex Incorporated ranked third in the needle holder market in 2023. The company offers a range of needle holders used in various surgical procedures and focuses on expanding its global reach. Operating in over 150 countries, Teleflex’s strategic expansion efforts help reduce its reliance on any single market, broadening its market presence and strengthening its product portfolio.
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