PUBLISHER: Acute Market Reports | PRODUCT CODE: 1280670
PUBLISHER: Acute Market Reports | PRODUCT CODE: 1280670
Huber needles find wide application in blood transfusions, chemotherapy, drug delivery, parenteral nutrition, surgical procedures such as angioplasty and diagnostic procedures such as contrast CT scans. Therefore wide application areas predominantly drive the Huber needles market globally. Growing prevalence of cancer across the globe increases the rate of chemotherapy administration, indicating higher demand for Huber needles. As per the International Agency for Research on Cancer (IARC), cancer is expected to increase to 21.7 million by 2030. With increasing prevalence of infectious diseases across the globe, number of blood transfusions have also risen. The rate of blood donations have also increased with growing awareness on need for blood and blood products, and rising willingness of people to donate. The World Health Organization (WHO) states that around 112.5 million blood donations were carried out globally, as per 2017 review.
Advancement in diagnostic techniques has also contributed to the lucrativeness of Huber needles segment. For instance, contrast CT scans require injecting of special intravenous contrast dye. The number of such diagnostic tests keeps on increasing with growing prevalence of cancer and chronic diseases, thus contributing to the overall market growth. Manufacturers are continuously carrying out research activities in developing advanced products catering to patient's safety requirements. Introduction by the Food and Drug Administration (FDA) of anti-coring test for Huber needles ensures patient safety thus further raising its demand.
Of the product types available in the market such as, straight and curved Huber needles, curved Huber needles are said to highlight potential market growth during the forecast period. They are utilised to deliver parenteral nutrition, medications and in certain chemotherapy regimens. Curved Huber needles can be left in injected place for few days, therefore without requiring periodic change as seen in straight Huber needles.
North America is likely to emerge as dominant regional market owing to rise in prevalence of cancer, chronic diseases and blood donations. Additionally, growth in diagnosis rate, developed healthcare infrastructure and provision of reimbursement for needles contribute to the overall market growth. However, rising cost of Huber needles, and the risk of coring and contamination leading to infections could have a negative impact on the overall market growth.
The Huber needles market comprises a competitive pool of many market leaders. Huber needles are globally available with presence of multiple manufacturers across geographies. Key players having vast market outreach are AngioDynamics, Inc., B. Braun Medical Inc., Baxter International Inc., C.R. Bard, Inc., Exel International, Inc., Medsurg, NIPRO Medical Corporations, Novo Nordsik, Smiths Medical, Inc., Thiebaud S.A.S., Vygon S.A. And Other Notable Players.
This study report represents analysis of each segment from 2021 to 2031 considering 2022 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2031.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Huber Needles market are as follows:
Micro and macro environment factors that are currently influencing the Huber Needles market and their expected impact during the forecast period.
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.