Rising Incidence of Infectious Diseases Drive Demand for Special Purpose Needles, According to New Report by Global Industry Analysts, Inc.
GIA announces the release of a comprehensive global report on Special Purpose Needles markets. Global demand for Special Purpose Needles is projected to reach US$5.4 billion by 2020, driven by increasing incidence of infectious diseases, rise in ageing population, and improving healthcare infrastructure across developing countries.
San Jose, California (PRWEB) June 25, 2014
Global market for specialty needles is influenced by the strong emphasis on user safety and growing demand for cost-effective solutions. Other factors impacting demand include advancements in product designs, favorable demographic trends, increased emphasis on preventing hospital acquired infections (HAIs), and improving healthcare infrastructure and services across developing countries. Growing awareness of diseases such as HIV/AIDS, HCV, gonorrhea, and typhus besides new legislations related to worker safety are providing a boost to the demand for safety needles. Focus on infection control as a means to cut healthcare costs implies that hospitals and other healthcare facilities are increasingly looking at disposable needles as a necessity. Market growth is also attributed to the rise in surgical procedures and the trend towards home healthcare.
While the basic design of needles remains unchanged since their introduction, some of the recent innovations include thinner and shorter needles, angled bevels, needle siliconization, and ultra-thin walls. The pen needles market is expected to gain traction from the introduction of smaller sized needles and prefilled syringe pen injectors that are a crossover between manual pen injectors and autoinjector systems. Hypodermic needles represents the largest product market. Some of the new technologies being developed to make injections relatively pain-free with reduced risk of infection include micro-needles, ceramic hybrid needles, five-in-one vaccine, and microjet system.
As stated by the new market research report on Special Purpose Needles, the United States represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market buoyed by the rapidly evolving healthcare sector in developing Asian economies, implementation of stringent infection control standards and steady rise in medical tourism which necessitates the provision of superior healthcare services.
Major players covered in the report include Angiotech Pharmaceuticals Inc., Argon Medical Devices Inc., Becton, Dickinson and Company, B. Braun Medical Inc., Cadence Inc., CareFusion Corporation, Covidien Ltd., MIFAM SA, Smiths Medical International Limited, and TERUMO Corporation among others.
The research report titled "Special Purpose Needles: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, drivers, mergers, acquisitions and other strategic industry activities of major companies worldwide. The report provides market estimates and projections for geographic markets such as the US, Canada, Japan, Europe, Asia-Pacific, Latin America and Rest of World. Product segments analyzed 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.
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 leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
Web Site: http://www.StrategyR.com/
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