DUBLIN, February 7, 2022 /PRNewswire/ — The “Special Purpose Needles – Global Market Trajectory and Analysis” report has been added to from ResearchAndMarkets.com offer.
Global Special Purpose Needles Market to Reach US$15.9 billion by 2026
Global Special Purpose Needles Market Estimated at US$9.5 billion in 2020, is expected to reach a revised size of US$15.9 billion by 2026, growing at a CAGR of 8.5% over the analysis period.
The growth of the medical needles market is mainly driven by factors such as increasing incidence of infectious diseases, aging population and increasing prevalence of chronic diseases such as cancer and diabetes, l increasing volumes of surgery and increasing prevalence of spine-related disorders.
Other factors impacting demand include advances in product design, favorable demographic trends, increased emphasis on prevention of hospital-acquired infections (HAIs), and improved healthcare infrastructure and services. in developing countries. The market is mainly driven by concerns from the healthcare industry regarding needlestick injuries and worker safety.
Needle technology has also advanced over the past few decades, moving from large syringe needles that had to be sterilized and sharpened by hand, to pen needles and other smaller needles that are thin, small, and designed to provide better penetration with less friction and more glide. The needles are redesigned to allow for light insertion force, improved control, superior precision and smoother penetration with less tissue displacement.
Hypodermic Needles, one of the segments analyzed in the report, is expected to grow at a CAGR of 13.6% to reach US$5.5 billion at the end of the analysis period.
After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the Pen Needles segment is readjusted to a revised CAGR of 7.8% for the next 7-year period.
This segment currently accounts for a 21.1% share of the global specialty needle market. Hypodermic needles are hollow needles used for subcutaneous injections and for aspiration. The needles are made of stainless steel and have a durable, sharper penetrating surface for easy hypodermic access.
Pen needle systems and pens, already the preferred mode of insulin delivery for diabetics in developed countries, are gaining ground in global markets. A pen needle comprises a hollow needle embedded in a plastic housing. Advanced pen needles are packed with sophisticated features and offered in different shapes and sizes depending on end-use requirements.
Segment of blood collection needles to reach $1.5 billion by 2026
Blood collection needles are used to perform a venipuncture for the purpose of taking blood samples. They typically include an attached pivoting shield, which the user activates after venipuncture, to prevent accidental needlestick injuries.
In the global blood collection needle segment, United States, Canada, Japan, China and Europe will result in the CAGR of 5% estimated for this segment. These regional markets representing a combined market size of US$925.5 million in the year 2020 will reach a projected size of US$1.3 billion at the end of the analysis period.
China will remain among the most dynamic in this group of regional markets. Led by countries such as Australia, Indiaand South Koreathe market of Asia Pacific should reach US$128.4 million by 2026, while Latin America will grow at a CAGR of 5.7% over the analysis period.
Main topics covered:
1. MARKET OVERVIEW
- How healthcare has been impacted and beyond COVID-19 What awaits healthcare?
- Elective surgeries are a rollercoaster ride amid COVID-19
- COVID-19 vaccination programs drive demand for needles and syringes
- Needles for special purposes: a prelude
- History of needles and syringes
- Types of needles
- Emerging markets: focal point for future growth
- Recent market activity
2. FOCUS ON CERTAIN PLAYERS (Total 103 Featured)
- Argon Medical Devices, Inc.
- B. Braun Medical, Inc.
- Becton, Dickinson and company
- Dentsply Sirona
- Injeq Oy
- INRAD, Inc.
- Johnson & Johnson
- Medline Industries, Inc.
- Medtronic, Inc.
- Smiths Medical International Limited
- Corporation of Surgical Specialties
- TERUMO Company
3. MARKET TRENDS AND DRIVERS
- Innovations to support the growth of the hypodermic needles market
- Home and alternative health care: an expanding segment
- Aging in place is gaining popularity
- Legislation Reduces Needlestick Injuries Drives Demand for Safety Syringes and Needles
- Rising Incidence of Nosocomial Infections Drives Demand for Safety Needles
- The advent of micro-needling poses a challenge to hypodermic needles
- Increased number of surgeries drives growth
- Painless shots: a growing area of R&D
- Fear of needles: a major challenge for Covid-19 vaccination efforts
- Needle-free innovations to put hypodermic needles into oblivion
- Smaller gauge needles: an ongoing trend
- Surgical needles focus on better coatings and materials
- Innovations Drive Dental Needle Market Growth
- Rising Incidence of Cancer Drives Demand for Biopsy Needles
- Global Cancer Prevalence Statistics: Indicators of Opportunity
- Automatic Core Biopsy Needle Devices Transform Needle Biopsy
- Ultrasonic oscillating needles designed to improve cancer management
- Smart needles to revolutionize cancer diagnosis
- Breast biopsies face setback due to needle shortages and delays in procedures
- Rising incidents of spinal and neurological diseases keep the spinal needles market in good shape
- Spine surgery to benefit from technological advances
- Growing Use of Self-Injection Devices to Stimulate Growth
- Pen needles gain traction as insulin pens gain popularity for insulin delivery
- Smart insulin pens: a growing area of interest
- Growing Role of Self-Injection Devices in Diabetes Management
- Needle-free alternatives: a growing threat
- Rising diabetic population continues to drive demand for pen needles
- Opportunities for parenteral drug delivery
- Needle-free systems threaten traditional syringes
- Low dead space needles face notable gap between demand and supply amid COVID-19
- Innovations Drive Dental Needle Market Growth
- Impact of COVID-19 on the dental care market
- Laparoscopy Market to Regain Momentum After Brief COVID-19-Induced Halt
- MACRO GROWTH DRIVERS
- Steady increase in global healthcare spending to create market opportunities
- Aging population and increasing number of surgeries are driving demand
4. GLOBAL MARKET OUTLOOK
III. REGIONAL MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/gjzdd0
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