Needles Market : Segmentation, Industry trends and Developments 2027

Needles are available in different types and different materials depending upon the need of the clinician. Conventional needles are used for general purpose medicine administration, fill and filter needles are used for vaccination and other sterile products, safety needles are used for blood collection and medicine administration in cases in which chances of contamination from infectious disease high. It also depends on its application area, for instance pen needles are used by diabetes patients for injecting daily dose of insulin, blood collection needle are used for diagnostic purposes, and suture needles are used for surgical purposes.

Needles are used for injecting medications or for drawing blood from the body. It has three parts, which includes a long shaft, slanted tip called bevel, and hub which fits in the tip of the syringe. Different types of needles are routinely used in clinical practice for variety of applications such as administering medicine within various layers of skin, anesthetic procedure, and different surgical procedures.

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Several factors are associated with increasing adoption of needles worldwide. One of the major factors is high prevalence of chronic disease across the world, which is propelling demand for needles. According to the World Health Organization (WHO), in 2017, non-communicable diseases such as cancer, diabetes, cardiovascular diseases, and lung diseases accounted for around 70% death worldwide, which was majorly from middle and low income economies. Furthermore, chronic diseases are expected to account for around 75% of all deaths worldwide by 2020. Therefore, this is expected to aid in market growth, as needle is an integral part of chronic disease treatment.

According to Diabetic Atlas by International Diabetes Federation (IDF), 2017, diabetes affected around 425 million people worldwide. Patients suffering from diabetes require daily administration of insulin with continuous glucose monitoring, which in turn is propelling demand for pen needles. Furthermore, the U.S. majorly invest in treatment of diabetes and cancer, annually. For instance, around US$ 377 Billion are invested, which account for 52% of the total diabetes expenditure worldwide, according to the IDF report 2017. Also, according to World Cancer Research Organization, 2014 report, cancer incidence in the U.S. is one of highest at 328 per 100,000, which is expected to propel growth of the needles market in this region.

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This release was published on openPR.