Special Purpose Needles Market to Exceed US$3.7 Billion by 2015, According to a New Report by Global Industry Analysts, Inc.
GIA announces the release of a comprehensive global report on Special Purpose Needles market. Global market for special purpose needles is projected to cross $3.7 billion by the year 2015, with growth being mainly driven by rising number of outpatient processes as well as growing awareness of diseases such as HIV/AIDS, HCV, HBV, gonorrhea, herpes simplex virus, malaria, syphilis, typhus, and tuberculosis, besides new legislations dealing with worker safety.
San Jose, CA (Vocus/PRWEB) January 13, 2011
Needles and syringes, collectively termed as “sharps”, are amongst the most widely used medical disposables. Market for specialty needles is highly influenced by growing demand for user safety and cost effective solutions. In recent years the market for disposable syringes, needles, and related products has witnessed significant expansion due to increasing outpatient procedures. The home healthcare sector has developed as a result of the introduction of easy treatment and has been reinforced by the recession as it leads to cost curtailment. Growing awareness of infectious diseases such as HIV/AIDS, HCV, HBV, gonorrhea, herpes simplex virus, malaria, syphilis, typhus, and tuberculosis, besides new legislations dealing with worker safety are providing a boost to the demand for safety needles. The healthcare industry spends about two-times the amount spent on manufacturing needles and syringes, for treating needlestick injuries. As a result, demand is more for safety syringes, owing to the fact that they prevent the needle from accidentally pricking after use.
The US and Europe together account for a major share of the global market for special purpose needles, as stated by the new market research report on Special Purpose Needles. Latin America and Asia–Pacific represent the fastest growing markets. The Latin American market is forecast to register a CAGR of 5.2% over the analysis period. Growth in the US market is driven by increase in elderly population, introduction of more injectable drugs rather than ingested ones, and innovation of safety devices. Pen needle systems and pens, already the preferred mode of delivery for insulin in diabetics in Canada and Europe, is becoming the new rage in the US market. In terms of products, hypodermic needles represents the largest special purpose needles segment. Rise in popularity of self-injection devices for patients with allergic asthma and migraine are also expected to boost the use of needles for self-administration of hypodermal medications. In Europe, blood collection needles constitutes the largest segment of the special purpose needles market.
Key players profiled in the report include Angiotech Pharmaceuticals, Argon Medical Devices, Bard Biopsy Systems, Becton, Dickinson and Company, B. Braun Medical, Cadence Science, Carefusion Corporation, Covidien Ltd, Ethicon, Inrad, Medline Industries, MIFAM S. A., Smiths Medical, Specialized Health Products International, TERUMO Corporation, and World Wide Medical Technologies.
The research report titled “Special Purpose Needles: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides comprehensive market overview, and reviews major trends, issues, and competition in the market. The report enumerates recent developments, product introductions/innovations, mergers, acquisitions and other strategic industry activities. Segments analyzed in the report include Acupuncture Needles, Aspirating Needles, Biopsy Needles, Blood Collection Needles, Blunt Needles, Bone Marrow Needles, Cardiology Needles, Catheter Needles, Dental Needles, Dialysis Needles, Electrode Needles, Endoscopy Needles, Epidural Needles, Fistula Needles, Hypodermic Needles, Intra-arterial Needles, Intravenous Needles, Ophthalmic Needles, Pneumoperitoneum Needles, Radiology Needles, Spinal Needles, and Suture Needles. The study reviews recent past, current and future market projections over the period 2007-2015, while historic analytics offer a review of the industry’s performance in the past (2000-2006). Analysis is presented for established and emerging markets including the US, Canada, Japan, France, Germany, the UK, Italy, Spain, Russia, Asia-Pacific, Latin America, and Rest of World.
For more details about this comprehensive market research report, please visit – http://www. strategyr. com/Special_Purpose_Needles_Market_Report. asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
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