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The global special purpose needles market is expected to grow at a CAGR of almost 8% during the forecast period
Special purpose needles industry growth is expected to accelerate over the next five years, driven by increasing target population that require special purpose needles. Special purpose needles are used for target specific drug deliveries to diagnose and treat chronic conditions such as diabetes, tumors, and infectious diseases. Growing incidences of chronic disorders around the world is expected to drive the growth of the global special purpose needles market. Technavio’s special purpose needles industry analysis reveals promising markets around the world.
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The Americas dominated the special purpose needles market by region
The global special purpose needles market was dominated by the Americas with almost 45% of the global market share, followed by EMEA and APAC. In addition, the Americas will drive more than one-third of the growth for the global special purpose needles industry, while EMEA and APAC are also predicted to contribute significantly to the incremental growth in the forecast period. However, according to this industry report, the global special purpose needles market will witness APAC registering the fastest rate of growth during the forecast period, while the Americas will generate a lower CAGR than EMEA.
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ARGON MEDICAL, B. Braun Melsungen, and BD are some of the leading special purpose needle suppliers
Most of the leading special purpose needle suppliers are focused on continuously innovating their products to make them safer and more ergonomic. The global special purpose needles market is forecasted to remain significantly concentrated over the next five years owing to the presence of a few vendors who offer products such as hypodermic needles, pen needles, blood collection needles, biopsy needles, dental needles, suture needles, and others. Many established special purpose needle suppliers are vying for their share of the global special purpose needles market, and the new players must differentiate themselves to gain vital traction over their peers.
This report offers a complete analysis of several special purpose needle suppliers, including:
- ARGON MEDICAL
- B. Braun Melsungen
- BD
- Cardinal Health
- Cook
- NIPRO Medical Corporation
- Smiths Group
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