SEATTLE, August 02, 2021, (MEDGADGET) — Global Special Purpose Needles market analysis
Overview
Special purpose needles are used to administer medications to extract bodily fluids. Dental needles, implantation needles, cannula needles, epidural needles, blood processing needles, ophthalmic needles, pen needles, spinal anesthesia needles, IV catheter needles, fine aspirating needles, biopsy needles, A.V. fistula needles, hypodermic needles, and suture needles are also examples of specific purpose needles. For various drug deliveries and sample processing, special purpose needles are used.
By the end of 2027, the global special purpose needles market is expected to be worth US$ 18,545.3 million.
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Drivers
During the forecast period, the global special purpose needles market is predicted to rise due to an increase in the incidence of gynecologic cancer. As per the American Cancer Society, 110,070 new cases of gynecologic cancer were reported in the U.S., with 32,120 people dying from the disease in 2018.
Furthermore, an increase in the number of biopsy procedures is projected to fuel business demand. As per a study conducted by Truven Health Analytics, an IBM Company, in March 2018, the nationwide estimated population obtained a total of 18,903,337 breast imaging and biopsy procedures during a 13-month follow-up period in the U.S.
In terms of value, North America dominated the global special purpose needles market in 2019, accounting for 34.6 percent of the total, led by Europe.
Restraints
The global special purpose needles market is projected to be hampered by advances in needle-free injection technologies. Nephron Pharmaceuticals Corporation partnered with National Medical Products Inc., a manufacturer of the J-Tip Needle Free Injector, in December 2019 to provide patients with high-quality treatment using a pain-free anesthetic.
Furthermore, injections can cause a variety of acute and lasting side effects, including itchy skin, backache, nausea, bladder control loss, abscess development, and nerve damage. As a result, alternative procedures such as oral drug administration and other conventional treatments such as acupuncture, Ayurveda, and Chinese medicine are becoming more common.
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Opportunities
Rising demand for pain-free needles is projected to provide attractive growth prospects for market players. Patients with diabetes need a consistent dosage of insulin, which drives up demand for needles that are less or not at all uncomfortable.
Furthermore, growing worries over the handling of infected needles and other medical waste has resulted in stricter medical waste disposal legislation. As a result, markets can place a greater emphasis on creating biodegradable needles.
The fine aspirating needles segment of the global special purpose needles market was worth US$ 1,380.8 million in 2019 and is projected to develop at a CAGR of 7.8% to US$ 2,526.1 million by 2027.
Market Trends
Companies have developed and introduced multiple needles with improved protection features in response to a growing emphasis on preventing needlestick infections, HIV, and blood-borne diseases caused by needles. Advanced features like self-retracting needles and needles with safety locking are gaining popularity among healthcare providers and patients.
Only CE-marked goods are used in Europe. For special use needles, the majority of countries in the region have beneficial compensation mechanisms. Due to the rising prevalence of diabetes and cancer, there is a strong demand for pen needles and biopsy needles in the area.
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Competitive Landscape
Key companies contributing in the global special purpose needles market are SERAG-WIESSNER GmbH & Co., Dickinson, and Company, Becton, Novo Nordisk A/S, Medtronic Plc., Boston Scientific Corporation, NIPRO Medical Corporation, Argon Medical Devices, Inc., Stryker Corporation, Terumo Corporation, B. Braun Melsungen AG, Cook Medical, and Smith’s Medical.
Key Developments
The market’s key players are concentrating on the growth and introduction of new products in order to extend their product range. Montmed, Inc. reported in January 2020 that the US Patent and Trademark Office has granted the firm a US Patent for its SiteSmart, an innovative pen needle device intended to encourage adherence to a safe injection site rotation regimen.
The market’s key players are also focusing on M&A tactics to broaden their product range. In January 2019, IZI Medical Products paid an undisclosed sum to Cook Medical for a package of biopsy and breast localization needles.
Table of Contents
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Product Type
- Market Snippets, By Application
- Market Snippet, By Distribution Channel
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Impact Analysis
- Key Highlights
- Product launch
- PEST Analysis
- Regulatory Scenario
- Mergers and Acquisitions
- Market Dynamics
- Special Purpose Needles Market, By Product Type, 2019 – 2027, (US$ Mn)
- Introduction
- Market Share Analysis, 2019 and 2027 (%)
- Y-o-Y Growth Analysis, 2017 – 2027
- Segment Trends
- Urinary Catheter
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Biopsy Needles
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Hypodermic needles
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Pen Needles
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Suture Needles
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- IV catheter Needle
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Implantation Needles
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Dental Needles
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Ophthalmic Needles
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Blood Collection Needle
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Spinal Anesthesia Needle
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Epidural Needle
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- A.V. Fistula Needle
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- A.V. Fistula Needle
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Introduction
- Special Purpose Needles Market, By Application, 2019 – 2027, (US$ Mn)
- Introduction
- Market Share Analysis, 2019 and 2027 (%)
- Y-o-Y Growth Analysis, 2017 – 2027
- Segment Trends
- Sample Collection
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Drug Delivery
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Introduction
- Special Purpose Needles Market, By Distribution Channel, 2019 – 2027, (US$ Mn)
- Introduction
- Market Share Analysis, 2019 and 2027 (%)
- Y-o-Y Growth Analysis, 2017 – 2027
- Segment Trends
- Hospital Pharmacies
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Hospital Pharmacies
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Retail Pharmacies and Drug Stores
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- e-Commerce
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Introduction
- Special Purpose Needles Market, By Region, 2019 – 2027, (US$ Mn)
- Introduction
- Market Share Analysis, By Region, 2019 and 2027 (%)
- Y-o-Y Growth Analysis, For Regions, 2017–2026
- North America
- Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Application, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Distribution Channel, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
- U.S.
- Canada
- Latin America
- Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Application, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Distribution Channel, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Europe
- Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Application, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Distribution Channel, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Application, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Distribution Channel, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of APAC
- Middle East
- Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Application, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Distribution Channel, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
- GCC
- Israel
- Rest of Middle East
- Africa
- Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Application, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Distribution Channel, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
- South Africa
- Central Africa
- North Africa
- Introduction
- Competitive Landscape
- Company Profiles
- Section
- References
- Research Methodology
- About us and Sales Contact
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