openPR Logo
Press release

Needles Market to Reach US$ 8.3 Billion by 2025

03-30-2018 01:48 PM CET | Health & Medicine

Press release from: Medical Devices Market

Growing geriatric population worldwide to drive growth of the global needles market

Rising geriatric population is expected to drive growth of the needles market. As per World Population Prospect, 2017 Revision report by United Nations in 2017, there were 962 million people, under the geriatric category (people aged 60 years and above). By 2030, this is projected to be 1.4 billion increasing at an annual rate of 3%. Geriatric people require frequent hospitalizations due to aging-associated diseases such as heart disease, stroke, diabetes and falling injuries. In certain cases, surgery is required which leads to hospitalization. This is expected to aid in growth of the market. Asia Pacific has a geriatric population of 547 million people, which is expected to reach 900 million geriatric population by 2025. Therefore, manufacturers could focus on expanding in this region. Also, stringent regulations related to safe injection practices by various governments is expected to propel demand for safety needles, in order to reduce chances of contamination from blood borne pathogens, for instance according to report published by WHO in 2014, up to 1.7 million people were infected with hepatitis B virus, up to 315 000 with hepatitis C virus and as many as 33 800 with HIV through an unsafe injection.

Ask for detailed Sample of the Research Report: https://www.coherentmarketinsights.com/insight/request-sample/1331

The needles market was valued at US$ 5.75 billion in 2017 and is expected to witness a robust CAGR of 7.6% over the forecast period (2017–2025).Rising prevalence of chronic diseases worldwide is expected to be factor driving growth of the needles market

There are number of factors propelling growth of the global needles market, however, the most significant factor is rising prevalence of chronic disease. According to World Health Organization (WHO), in 2017, non-communicable diseases such as cancer, diabetes, cardiovascular diseases, and lung diseases are collectively responsible for 70% death globally, mostly in middle and low income countries, and by 2020 chronic diseases is expected to account for almost three-quarters(up to 75%) of all deaths worldwide. This is expected to aid in market growth as needle is an integral part of chronic disease treatment, which may require hospitalization. For instance, according to 2017 Diabetic Atlas by International Diabetes Federation (IDF), diabetes affected around 425 million people worldwide. Patients have to administer insulin on the basis of severity of the disease and requires continuous glucose monitoring, thus, leading to increasing demand for pen needles. U.S. spends highest cost for treating diabetes and cancer, annually. For instance, it spends US$ 377 Billion, which accounts for 52% of the total diabetes expenditure worldwide as mentioned in 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. This is expected to propel growth of the needles market in this region.

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. 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.

Key players are focusing on strategic mergers and acquisitions and development of innovative products, in order to enhance their market share. For instance, in September 2017, Becton, Dickinson and Company introduced BD Ultra-Fine micro pen needle for use with different pen injection devices, for people with diabetes, in order to reduce accidentally injection of insulin dose into a muscle and it provides one of shortest length pen needle. Nipro Medical Corporation launched ‘SafeTouch’ safety needle in 2016, which is known to protect the patients from needle stick injuries. Terumo Medical Corporation innovative product K-Pack Surshield launched in 2012 claims to be 20% sharper than its competitor and fits in all types’ syringes.

Ask for customization: https://www.coherentmarketinsights.com/insight/request-customization/1331

Some of the key players operating in the global needles market are 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.

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Contact Us:

Mr. Shah
Coherent Market Insights
1001 4th Ave, #3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com
Visit our news Website: http://www.coherentchronicle.com/

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Needles Market to Reach US$ 8.3 Billion by 2025 here

News-ID: 999262 • Views: 1113

More Releases from Medical Devices Market

X Ray Detectors Market -
X-ray technology is the most conventional and widely used form of medical imaging. X-rays consist of ionizing radiations, which are passed through the patient’s body and are absorbed by the internal organs. X-rays have been in use for non-invasive imaging of biological matters by passing high resolution radiations. X-Rays have wide range of applications such as structural imaging of bones, cavities in soft tissues, and metal implants pre and post
Blood Collection Devices Market - Global Industry Insights, 2025
Blood collection devices plays a crucial role in the patient treatment. For the treatment, blood samples are collected to measure the basic metabolism components such as blood urea nitrogen, sodium, potassium, creatinine, magnesium, chloride, and also used to measure blood glucose and lipid levels. In the recent years, as technology has increased in availability and complexity, the experts in the laboratories are receiving wide range of opportunities and challenges. In
Global Tumor Ablation Devices Market - Trends and Forecast to 2025
Global Tumor Ablation Devices Market - Insights With the robust development of imaging devices and modalities during past two decades, image guided techniques like tumor ablation has become a powerful tool for definitive treatment of certain benign and malignant tumors of the lungs, liver, kidneys, bone, and soft tissues and for pain palliation. Tumor ablation is one of the minimally invasive procedure used to destroy cancer cells in the chest, lung
Research of Medical Devices Market with Focus on Korea in Global Industry : Shar …
Albany, NY, 3rd November : Recent research and the current scenario as well as future market potential of "Global Medical Devices Market with Focus on Korea: Industry Analysis & Outlook (2017-2021)" globally. Medical device is an instrument, implant, contrivance or a machine used in prevention, diagnosis and treatment of illness, or detecting, restoring or modifying the structure or function of the body for health purpose. Medical devices come with numerous varieties,

All 5 Releases


More Releases for Corporation

Global Gaming Market 2018 - Microsoft Corporation, Nintendo Co., Ltd., Rovio Ent …
The global Gaming market research report 2019 -2023 proposes a thorough analysis of the Gaming market globally. The market analysis considerably focuses on providing data to the consumers related to the three major segments, which include the growth rate of the market, the size of the market, and industrial-chain analysis. The Gaming market report provides a wide-range of Gaming market segmentation Console , Mobile , Computer , , . Get Request
Enterprise Content Management Market Trend to 2025: IBM Corporation, Oracle Corp …
Enterprise Content Management Market to 2025 - Global Analysis and Forecasts by Product, Deployment Type, Organization Type, Verticals The report aims to provide an overview of Global Enterprise Content Management Market along with detailed segmentation of market by product, organization type, deployment type, vertical and five major geographical regions. Global Enterprise Content Management market is expected to witness growth during the forecast period due to exponential growth in the data and
Blockchain Market Covers Leading Manufacturer IBM Corporation, Microsoft Corpora …
Blockchain technology is a decentralized software program that enables protected digital transactions of digital currencies such as Bitcoin. Download PDF To explore detail study @ https://www.coherentmarketinsights.com/insight/request-pdf/1113 "Applications Of Blockchain Market" Blockchain permits applicants to authenticate and review transactions. Blockchain-based transactions of value can be completed in faster way, more safely, and economically than conventional transaction systems. Rising popularity of these ledger chains has led to a significant increase in total capital
Telecom Analytics 2018 Global Key Players – EMC Corporation, Oracle Corporatio …
Telecom Analytics Market 2018 Wiseguyreports.Com Adds “Telecom Analytics – Global Market Demand, Growth, Opportunities, Manufacturers, Analysis of Top Key Players and Forecast to 2023” To Its Research Database. Description:  This report mainly introduces volume and value market share by players, by regions, by product type, by consumers and also their price change details. As a Detailed Analysis report, it covers all details inside analysis and opinion in Telecom Analytics industry. This report splits Telecom Analytics market
Cloud Backup Market Key Players - Microsoft Corporation, Oracle Corporation, IBM …
Market Highlights: The Global Cloud Backup Market is growing with the rapid pace; mainly due to the increasing demand for low cost and reliable storage facility. According to a recent study report published by the Market Research Future, the global market of cloud backup is growing rapidly and expected to gain prominence over the forecast period. The market is projected to demonstrate a remarkable growth by 2023, beating its previous
Global Smart Hospitality System Market 2017 : Mitel Networks Corporation, NEC Co …
Smart Hospitality System A market study based on the " Smart Hospitality System Market " across the globe, recently added to the repository of Market Research, is titled ‘Global Smart Hospitality System Market 2017’. The research report analyses the historical as well as present performance of the worldwide Smart Hospitality System industry, and makes predictions on the future status of Smart Hospitality System market on the basis of this analysis. Get Free