Medical Venous Blood Collection Needle Market Revenue was valued at USD 1.5 Billion in 2024 and is estimated to reach USD 2.8 Billion by 2033, growing at a CAGR of 7.6% from 2026 to 2033.
Surging Demand in Diagnostics and Chronic Care
South Korea's Medical Venous Blood Collection Needle Market is experiencing significant growth, driven by the increasing prevalence of chronic diseases and the expansion of diagnostic services. In 2022, the country's blood collection market generated a revenue of USD 204.2 million, with projections estimating it will reach USD 413.4 million by 2030, growing at a CAGR of 9.2%.
Types of Needles and Their Applications
The market primarily consists of two types of venous blood collection needles:
Safety Blood Collection Needles: Designed with features to prevent needlestick injuries, these needles are increasingly adopted in hospitals and clinics to enhance patient and healthcare worker safety.
Regular Blood Collection Needles: Traditional needles used widely in various medical settings, though their usage is gradually being supplemented by safety-engineered devices.
Materials commonly used in manufacturing these needles include stainless steel for durability and plastic components for cost-effectiveness and disposability.
Industry Requirements and Trends
Industries such as hospitals, diagnostic laboratories, and blood banks are the primary end-users, requiring needles that offer:
High Precision: To ensure accurate blood sampling and minimize patient discomfort.
Safety Features: To protect healthcare workers from potential infections due to needlestick injuries.
Compliance with Regulations: Adherence to national and international medical device standards is crucial for market approval and trust.
Personal Observations
In my experience, the shift towards safety-engineered needles is evident in South Korean medical facilities. Healthcare providers are increasingly prioritizing devices that enhance safety without compromising efficiency. The integration of advanced materials and ergonomic designs in needle manufacturing reflects the industry's commitment to improving both patient and practitioner experiences.
Overall, the Medical Venous Blood Collection Needle Market in South Korea is poised for continued growth, supported by technological advancements and a strong emphasis on safety and precision in medical procedures.
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BD
Greiner Bio One
B. Braun
Terumo
Nipro
Sarstedt
Smiths Medical
Berpu
Hunan Snali
Shanghai KDL
Shandong Weigao
Improve-medical
B. Braun Melsungen
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Medical Venous Blood Collection Needle Market
Vacutainer Needles
Butterfly Needles
Safety Needles
Conventional Needles
Single-Use Needles
Multi-Sample Needles
Winged Infusion Needles
Vacuum-Collection Needles
Hospitals
Diagnostic Laboratories
Outpatient Care Centers
Blood Donation Centers
Stainless Steel Needles
Plastic Needles
Coated Needles
Diagnostic Testing
Therapeutic Apheresis
Blood Transfusions
Research and Clinical Trials
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Medical Venous Blood Collection Needle Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Medical Venous Blood Collection Needle Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Medical Venous Blood Collection Needle Market, By Type
6. South Korea Medical Venous Blood Collection Needle Market, By Application
7. South Korea Medical Venous Blood Collection Needle Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Medical Venous Blood Collection Needle Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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