Needles Market Emerging Trends and Global Demand During the COVID-19 Period till 2027 | Becton, Dickinson and Company, Medtronic

Coherent Market Insights published a report, titled, "Needles Market, by Needle Type (Conventional Needles and Safety Needles), by Delivery Site (Intradermal, Subcutaneous, Intravenous, Intramuscular, and Intraperitoneal), by Application (Surgical Suture Needles, Pen Needles in Diabetes, Blood Collection Needles, Ophthalmic Procedure Needles, Dentistry Needles, Insufflation Needles, and Other Needles), by Material (Stainless Steel Needles, Plastic Needles, Glass Needles, and PEEK Needles) and by End User (Hospitals, Clinics, Diagnostic Centers, Research Institutions, Home-based care, and Others) and by Region - Global Trends, and Forecast till 2027

The needles market is expected to witness significant growth, owing to high prevalence of chronic diseases and high unmet need for palliative care, unmet surgical needs, and increasing vaccination drives. Companies are focusing on product diversification based on the needs of the patients and healthcare providers thereby, fuelling growth of the needles market.

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Growing demand for palliative care and surgeries to propel growth for the needles market Increasing demand for palliative care and unmet surgical needs are major factors expected to aid in growth of the market. For instance, according to World Health Organization (WHO), 2017, around 40 million people are in need of palliative care worldwide, 78% of these live in low- and middle-income countries. Patients suffering from cardiovascular diseases (38.5%), cancer (34%), chronic respiratory diseases (10.3%), AIDS (5.7%) and diabetes (4.6%), kidney failure, and chronic liver diseases require palliative care. Only around 14% of people actually receive palliative care among the above mentioned population.

Cardiovascular diseases, cancer, diabetes, and respiratory disease are responsible for over 28 million deaths annually. Needle is a significant component in most of surgeries. Therefore, increasing number of surgeries and unmet surgical needs is expected to positively aid in growth of the market. For instance, according to World Bank statistics, in 2012, there were 4,511 surgeries performed per 100,000 people, globally. As per Lancet Commission for Global Surgery report, in 2015, 28-32% of the global burden of disease can be treated successfully through surgical intervention. This needs are mostly unmet in Asia Pacific and African regions.

What's keeping Becton, Dickinson and Company, Medtronic plc, Hamilton Company, Stryker Corporation, Terumo Corporation, B. Braun Melsungen AG, Boston Scientific Corporation, Nipro Medical Corporation, Novo Nordisk A/s, Thermo Fisher Scientific, and Smiths Medical. Ahead in the Market? Benchmark yourself with the strategic moves and findings recently released by COHERENT MARKET INSIGHTS

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Key Findings Of The Study
• By type, the absolute Needles segment generated the highest revenue in 2020.
• By technology, the segment generated the highest revenue in 2020.
• By application, the segment generated the highest revenue in 2020.

Key offerings of the report:
1. Key drivers & Opportunities: Detailed analysis on driving factors and opportunities in different segments for strategizing.
2. Current trends & forecasts: Comprehensive analysis on latest trends, development, and forecasts for next few years to take next steps.
3. Segmental analysis: Each segment analysis and driving factors along with revenue forecasts and growth rate analysis.
4. Regional Analysis: Thorough analysis of each region help market players devise expansion strategies and take a leap.
5. Competitive Landscape: Extensive insights on each of the leading market players for outlining competitive scenario and take steps accordingly.

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