Special Purpose Needle Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025
Global Special Purpose Needle Market: Snapshot
Hypodermic needles have long been manufactured and used in a specific standard format over the years. Commonly known as a part of the family of medical sharps, these needles are essentially very thin tubes designed to puncture the upper layers of skin in order to either deliver drugs or withdraw blood or urine from a patient. The most common usage of a medical needle is by attaching it to a syringe in order to easily inject or draw fluids. Hypodermic needles form one of the core parts of rapid drug delivery processes. There are, however, several issues regarding the use of standard hypodermic needles. Two of the key problems are the spread of diseases through the reuse of needles without sterilization, and the massive volume of waste generated through the use of disposable needles. Both issues are of extremely high concern to the healthcare industry, and several players are already pushing intensive investments into the research and development for newer types of needles, or special purpose needles.
Special purpose needles, or safety needles, allow for the reuse of needles while negating the spread of diseases. They are also designed to protect the healthcare worker from injury or infection due to accidental contact. The most commonly developed mechanism uses a barrel from which a worker can inject or draw fluids, while the needle maintains its position in a retractable manner. According to the CDC, between 62% and 88% of accidental needlestick infections can be avoided by using safety needles. Another type of special purpose needle includes pre-filled syringes.
Global Special Purpose Needle Market: Overview
Needles are considered as one of the most used disposables in the medical industry. The growing focus on using safe and unused needles in order to avoid infections is expected to accelerate the growth of the overall market in the near future. Moreover, several initiatives taken by governments and medical facilities to create an awareness for the use of safe needles are further estimated to supplement the growth of the market.
The research study on the global market for special purpose needle provides a thorough overview, highlighting the key factors and market dynamics that are likely to impact the overall development of the market. With the help of various analytical tools, the research study offers a strong understanding of the product segmentation, applications, current trends, key regional segments, and the competitive landscape of the global special purpose needle market.
Global Special Purpose Needle Market: Drivers and Restraints
The increasing consciousness among patients regarding hygiene and the easy availability of cost-effective, advanced, and user-safety products are some of the major factors that are anticipated to fuel the growth of the global special purpose needle market in the next few years. The rising expenditure and the development of the healthcare sector are some of the other factors encouraging the market’s growth across the globe.
On the flip side, the increasing popularity of needle-free technology in the healthcare sector and the high cost of products are projected to restrict the growth of the global special purpose needle market in the next few years. Nevertheless, the growing use of self-injection devices among patients and the rising awareness regarding AIDS/HIV and other diseases are likely to boost the demand for special purpose needle market in the coming years.
Global Special Purpose Needle Market: Region-wise Outlook
According to the research report, North America is projected to witness a significant growth in the global special purpose needle market and register a progressive growth rate throughout the forecast period. The rapid growth of this region can be accredited to the presence of advanced medical facilities in developed economies such as Canada and the U.S. Moreover, the rising consciousness among consumers regarding several infections spreading due to the use of used needles is anticipated to accelerate the growth of the market in the near future.
On the other hand, Latin America and Asia Pacific are projected to grow at a robust pace in the next few years. The development of the healthcare sector across these regions and the substantial contribution from China and India are expected to accelerate the growth of the special purpose needle market in Asia Pacific and Latin America. Furthermore, the share, size, and the growth rate of each regional segment have been provided in the study.
Key Players Mentioned in the Research Report are:
Some of the key players operating in the special purpose needle market across the globe are Medtronic, Terumo Corporation, Cook Medical, Novo Nordisk A/S, Stryker Corporation, Becton, Argon Medical Devices Inc., SERAG-WIESSNER GmbH & Co., Smiths Medical, NIPRO Medical Corporation, B. Braun Melsungen AG, Dickinson Company, and Boston Scientific Corporation. A significant rise in the competitive level is expected in the global market, which is likely to supplement the growth of the market in the next few years.
The research study offers a detailed overview of the competitive landscape of the global special purpose needles market. The business strategies and policies that are being used by the prominent players have been discussed at length in the scope of the research study. Moreover, the financial overview, inception details, product portfolio, SWOT analysis, contact information, and the recent development if any have been included in the study to offer a clear understanding of the market.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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