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According to the latest research by SkyQuest Technology, the Global needles market was valued at USD 6.89 billion in 2021, and it is expected to reach a market size of USD 11.65 billion by 2028, at a CAGR of 7.8 % over the forecast period 2022–2028. The research provides up-to-date Needles Market analysis of the current market landscape, latest trends, drivers, and overall market environment.
An eye for a thread or surgical sutures is located on one end of a needle, a small, thin sewing instrument that is frequently made of steel. Needles are utilised for a variety of tasks, such as the processing of blood, the execution of dental and surgical procedures, and the infusion of drugs into the body. It fits into the syringe’s component and has three parts: a long shaft, an inclination, and a centre piece. Numerous needle kinds are often employed in clinical practise for a wide range of treatments, including the administration of drugs via multiple skin layers, aesthetic procedures, and various surgical operations. Needles come in a wide variety of varieties as a result.
The activation of the brain’s pain receptors by a number of psychological and physiological factors in some treatment regimens is connected to pain and anxiety. For instance, dental injection is intimately associated to both pain and anxiety during dental procedures. In the near future, market development is also predicted to be stimulated by rising public awareness of the advantages of blood donation. The shortage of blood can be lessened by voluntary blood donations, but the demand for needles and syringes will rise as a result.
The COVID-19 has had a significant and positive impact on the market. Due to this pandemic, attempts to identify and develop new medications have expanded globally. Increased financing for initiatives connected to the creation of a COVID vaccine has a direct impact on the growth in the demand for needles. A increased hospitalisation rate also contributed to the market’s rise. Additionally, the future of needles is encouraged by the rise of hospitals and other healthcare facilities throughout the globe.
The global needles market is expected to see technological advancements, increased consumer demand for high-tech hypodermic needle solutions, rising prevalence of chronic and lifestyle diseases, notably diabetes. The availability of alternative drug administration techniques, a lack of knowledge regarding safety syringes, and the high cost of hypodermic needles, on the other hand, prevent market expansion.
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Read Market Research Report, ” Global Needles Market By Type (Conventional Needles and Safety Needles), Product (Suture Needles, Blood Collection Needles, Ophthalmic Needles, Dental Needles, Insufflation Needles, Pen Needles, Other), Delivery Mode (Hypodermic Needles, Intravenous Needles, Intramuscular Needles, Intraperitoneal Needles), and Region —Forecast And Analysis 2022–2028” By Skyquest
The safety needle category is predicted to grow at the fastest pace over the projection period. This development can be attributed to the decreased risk of needle stick injuries associated with these products, which can spread bloodborne viruses such as the hepatitis B and C virus, HIV, and other infections. Healthcare organisations and stakeholders must focus on specific variables that contribute to the ongoing risk of damage in order to better comprehend concerns regarding product limits and the hospital environment. For instance, injecting drug users are more prone to get HIV, TB, viral hepatitis B and C (HBV and HCV), and tuberculosis in addition to overdose. Narcotics are injected by 11 million people globally.
In accordance with the UNODC World Drug Report, 2020, 1.4 million of these people (or 1 in 8) are infected with HIV, and 39.4% are infected with viremic HCV. Drug injections account for around 10% of new HIV infections globally (UNAIDS, 2020). Additionally, between 23 and 39 percent of new HCV infections are considered to be caused by injecting drug users. Injection of medicine is to blame for one in three HCV deaths globally. In certain regions, including Eastern Europe and Central Asia, the prevalence rates of both HIV and HCV are significantly high. Additionally, drug injectors account for 1.3 million of the 2.3 million HIV-HCV co-infections worldwide (WHO, 2016).
The prominent market players are constantly adopting various innovation and growth strategies to capture more market share. The key market players are Medtronic (Ireland), Ethicon US, LLC. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Novo Nordisk A/S (Denmark), BD (U.S.), Stryker (U.S.), and Boston Scientific Corporation (U.S.), Luminex Corporation (US), Illumina, Inc (US), Bio-Rad Laboratories, Inc. (US), QIAGEN (Netherlands), Abcam plc (UK), Merck KGaA (Germany), Promega Corporation (US), Siemens (Germany), PerkinElmer, Inc. (US) and Shimadzu Corporation (Japan) among others.
The report published by SkyQuest Technology Consulting provides in-depth qualitative insights, historical data, and verifiable projections about Needles Market Revenue. The projections featured in the report have been derived using proven research methodologies and assumptions.
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What does this Report Deliver?
SkyQuest has segmented the Global Needles Market based on Type, Product, Delivery Mode, and Region:
Key Players in the Global Needles Market
SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally.
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