A recent report published by Infinium Global Research on needles market provides 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 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. 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 leading companies operating in the global needles market are focusing on market share expansion through mergers, acquisitions, and collaborations.
The growing prevalence of chronic diseases worldwide drives the growth of the needles market. The surge in demand for vaccines stimulates the growth of the needles market. The rising number of hospitals in developing countries propels 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 growth of the needles market. In addition, the rising geriatric population globally contributes to the growth of the needles market. On the other side, the rise in needlestick injuries and infections and increasing use of needle-free technology hinder the growth of the needles market. Moreover, the rising injectables market creates several opportunities for the growth of the needles market.
Based on geography, the global needles market is classified into North America, Asia-Pacific, Europe, and the Rest of the World. North America region is anticipated to hold a premium share in the global needles market. The easy availability of safety needle and the presence of key market players in North America stimulate 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 showing growth in the global needles market.
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 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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