Research Nester assesses the growth of the global syringes and needle market which is anticipated to be on account of the increased investment in the healthcare sector across the globe
New York – April 14, 2022 – Research Nester’s recent market research analysis on “Syringes and Needles Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitor’s analysis and a detailed overview of the global syringes and needles market in terms of segmentation by product, usability, patient group, type, application, end-user, and by region
Increased Number of surgical procedures to Drive Growth of the Global Syringes and Needles Market
The growing utilization of syringes and needles in surgical procedures and the increase in the number of surgical procedures are driving market expansion in the region. The significance of minimally invasive surgery (MIS) is growing in Latin American hospitals. Approximately 80% of elective surgeries are currently performed using this technique. The technique consists of conducting minimal incisions, or even none at all by utilizing natural orifices, through which an endoscope, which is a thin, tube-like device equipped with a video camera as well as a light source, is introduced, allowing the surgeon to visually examine cavities within the body. The increasing number of surgical procedures increases the demand for syringes and needles used in these operations, thereby fostering market expansion.
– The worldwide geriatric population continues to grow at an unprecedented rate, increasing demand for injectable medicines. At the moment, 8.5% of the global population (617 million) is 65 or older. The global population of oldest old people aged 80 and older is expected to more than quadruple between 2015 and 2050, from 126.5 million to 446.6 million.
Some of the major growth factors and challenges that are associated with the growth of the global syringes and needles market are:
Growth Drivers:
- Rising Preference for Disposable Products for Blood Collection
- Rising Public Awareness of Blood Donation.
Challenges:
NSIs can expose workers to blood-borne and infectious diseases. Injury and infection can cause major distress for workers, as well as significant expenditures for healthcare organizations, and can interrupt the patient treatment process. Therefore, there is an increasing risk of needle-stuck injuries is a major constraint in the market’s growth.
By product, the global syringes and needles market is segmented into syringes and needles where syringes are sub-segmented by general purpose syringes and specialized syringes and needles are sub-segmented by conventional needles and safety needles. By the end of 2035, the syringe segment is anticipated to garner the largest revenue with a CAGR of 8.4 percent. In order to decrease the spread of infections among patients, governments in emerging nations are taking steps to expand the usage of disposable syringes.
By region, the North American syringes and needles market is to generate the highest revenue of USD 22,906.5 Million by the end of 2035. Large businesses in North America have a comparatively high adoption and will likely dominate the syringes and needles market owing to variables such as the growing number of cardiac disorders, along with the surging use of injectable drugs in the region. Increased availability of cutting-edge and proactive medical care and insurance coverage in North America has widened the market for syringes and needles. To maintain their positions in the fiercely competitive market, businesses in the area are investing a lot of money in order to manufacture new products in the Countries such as USA, and China.
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This report also provides the existing competitive scenario of some of the key players of the global syringes and needles market which includes company profiling of Cardinal Health, Inc., Becton, Dickinson, and Company, Allison Medical, Inc., B. Braun SE, Argon Medical Devices, Smiths Medical (ICU Medical, Inc.), Teleflex Incorporated, Apexmed International B.V., EXELINT International, Co., Hindustan Syringes & Medical Devices Ltd., Terumo Medical Corporation, NIPRO Corporation, Misawa Medical Industry Co., Ltd., and other major players.
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