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World “Spinal Needles Market” Comprehensive SWOT Analysis and Forecasts by 2023; Exclusively Available at MarketResearchFuture.com
Market Research Future
The Global Spinal Needle Market is segmented on the basis of type, application and end users. On the basis of type, the market is segmented into atraumatic needle tips, directional spinal needles, pencil-point needles and others. On the basis of size, the market is segmented into 24G, 25G, 27G and other. On the basis of application, the market is segmented into diagnostic and therapeutic. And on the basis of end users, they are segmented into hospitals, clinics and other
Spinal needles are type of needles used for collection of cerebrospinal fluid (CSF) for diagnosis of different neurological and other diseases. This needles are available in different sizes and also used for administration of the medication to the body. According to WHO, 1 out of 6 people is suffering from major or minor neurological disorder. Increasing prevalence of different diseases, and increasing elderly population is the key driving factor for the market. Beside this, increasing awareness about diseases, increasing healthcare expenditure and rapid development in healthcare sector also contributed to the market growth. The global spinal needle market is expected to grow at a CAGR of 6.8% during forecasted period 2017-2023.
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The key players for the global spinal needle market are Boston Scientific (US), B. Braun (Germany), Medline Industries (US), Sarstedt (UK), BD (US), Smiths Medical (US), Halyard Health (US), Exel International (US), MYCO Medical (US), Wallach Surgical (US), Medtronic (UK), Novo Nordisk (Denmark), Stryker Corporation (US), Argon Medical Devices, Inc (Netherland), Cook Medical (US)
Spinal needle market is a saturated market due to the presence of many local and multinational players. Number of different products are available into the market and so key players are trying to focus on acquisition and strategic alliances with local companies to minimize the competition.
Stryker Corporation is fortune 500 medical technologies firm headquartered in US. Company is working in the manufacturing of different medical devices and technology. Company is offering number of different types of needles. Access needles is the major spinal needle sold by the company. This needle is easy to use with sharp match-ground diamond tips and efficient in cutting bone. Company had acquired Sage Products LLC and Physio Control in 2016. This acquisition increased the market of defibrillators, AEDs (Automated External Defibrillators) and many more. The market is mostly US but now a days, company is focused on emerging the markets. Sales growth 2017 expected to be 6%-6.5%.
BD is an American medical technology company that sells and manufactures medical devices. The major market sale is generated from US. Company has launched number of different products to capture the market. Quincke spinal needle and Whitacre spinal needle are some of the major products of the company. In 2014, company acquired CareFusion and in 2017, they acquisition on C. R. Bard in order to increase their market.
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