Reliable Data You Can Trust
Reliable Data You Can Trust
A recent report
published by Infinium Global Research on the needles market provides an
in-depth analysis of segments and sub-segments in the global as well as
regional needles market. The study also highlights the impact of drivers,
restraints, and macro indicators on the global and regional needles market over
the short term as well as long term. The report is a comprehensive presentation
of trends, forecast and dollar values of the global needles market. According
to the report, the global needles market is projected to grow at a CAGR of 6.8%
over the forecast period of 2019-2025.
Needles are
commonly used in hospitals for several applications. Needles are majorly used
to isolate various body fluids such as blood from veins and tissues from
swollen joints. The safety concerns regarding needles are nowadays taken care
of owing to strict policies and rules. The implementation of favorable
government initiatives for the use of safety needles propels the needles market
growth.
The growing
prevalence of chronic diseases worldwide is a major factor driving the growth
of the needles market. As per the World Health Organization, the prevalence of
chronic diseases is anticipated to grow by 57% by the year 2020. The surge in
demand for vaccines and the rising number of hospitals in developing countries
stimulates the growth of the needles market. Safety needles are gaining
importance due to its features such as the prevention of needlestick injuries
contributing to the market’s growth. In addition, the rising geriatric
population globally promotes the growth of the needles market. The people aged
65 and over are expected to be 17 % of the world’s population by 2050. On the
other side, the rise in needlestick injuries and infections and increasing use
of needle-free technology hinder the growth of the market. Moreover, the rising
injectables market creates several opportunities for the growth of the needles
market.
North America region is anticipated to dominate the global needles market. The easy
availability of safety needle and the presence of key market players in North
America stimulates the growth of the needles market in North America.
Asia-Pacific is expected to grow in the global needles market with a healthy
CAGR over the forecast period. The rising geriatric population and strict
policies for approval of new injectables in Asia-Pacific contribute to the
growth of the needles market in the Asia-Pacific region. Europe is anticipated
to grow in the global needles market with a significant CAGR over the forecast period.
The rising number of chronic diseases and the growing amount of cardiovascular
diseases propel the growth of the Europe needles market. More than 50 million
people in Europe have more than one chronic disease.
The report on
global needles market covers segments such as type, product, and end-user. On
the basis of type, the sub-markets include conventional needles, bevel needles,
blunt fill needles, filter needles, safety needles, passive needles, and active
needles. On the basis of product, the sub-markets include blood collection
needles, suture needles, ophthalmic needles, dental needles, pen needles, and
other needles. On the basis of end-user, the sub-markets include diagnostic
centers, hospitals & clinics, home healthcare, and other end-users.
The report
provides profiles of the companies in the market such as Medtronic plc, Stryker
Corporation, Terumo Corporation, Smiths Medical, Inc., B. Braun Melsungen AG,
Boston Scientific Corporation, Thermo Fisher Scientific Inc., Becton, Dickinson
and Company, Novo Nordisk A/S, Neotec Medical Industries Pte. Ltd., and other
companies.
The report
provides deep insights into the demand forecasts, market trends, and micro and
macro indicators. In addition, this report provides insights into the factors
that are driving and restraining the growth in this market. Moreover, The
IGR-Growth Matrix analysis given in the report brings an insight into the
investment areas that existing or new market players can consider. The report
provides insights into the market using analytical tools such as Porter's five
forces analysis and DRO analysis of the needles market. Moreover, the study
highlights current market trends and provides forecast from 2019-2025. We also
have highlighted future trends in the market that will affect the demand during
the forecast period. Moreover, the competitive analysis given in each regional
market brings an insight into the market share of the leading players.
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