Huber Needles Market: Trends, Share, Size, Key Players, and CAGR of 6.2% over the forecast period 2017-2024

The global huber needles market is segmented into product type such as straight huber needles and curved huber needles. Among these segments, curved huber needles occupied the biggest segment in 2016 and it is expected to garner at a notable CAGR of 6.5% during the forecast period.

Further, the growth of this segment is attributed to increasing number of population affected with chronic diseases. Moreover, favorable government initiates and funding to improve the healthcare infrastructure is also believed to foster the growth of huber needles market.

Global huber needles market is anticipated to account for a notable CAGR of 6.2% over the forecast period i.e. 2017-2024. Moreover, the global huber needles market is projected to reach at exponential revenue of USD 60 Million by the end of 2024. The market is expected to expand on the back of increasing prevalence of chronic diseases such as cancer and others.

In Q4 2021, USA current-account deficit widened stood at $224.8 billion. However, in Q1 22, CAD rose by 29.6%, reached to $291.4 billion, adding $66.6 billion to the gap. Export of good and services increased by $25.7 billion to reach $1.03 trillion in the first quarter of 2022. However, goods and services deficit was $79.6 billion in June, down $5.3 billion from $84.9 billion in May, revised- reflecting some sight of relief. On the other hand, annual inflation rate in the country hit 8.5%. Energy CPI surged by 32.9% in July 2022, inflating the cost of logistic and some signs to disrupt supply chain whilst electricity cost upsurged by 15.2%, highest since Feb 2006. Apart from that, In July 2022, existing US home sales declined 5.9% to 4.81 million (seasonally adjusted annual rate), the lowest since May of 2020 and below market expectations of 4.89 million. As mortgage rate touches to peak 6%, sales for houses declined for a sixth consecutive month. Global energy crises to remain at focal point, pushing consumers to spend less on the products and services and save more.

On the other hand, the worst is expected to be seen in the European countries especially during 2022 winters. The energy and gas crises has already started grappling the region where in many Western European countries including Germany is looking for coal fired solutions to tackle the gas supply shortage, created by Russian-Ukraine conflict.

Amidst global concerns, market players have started looking for safe investments by holding on to the new technology and product launches. Factors like currency translation, disruption in global supply chain, Anti-China sentiments brewing across the globe, slowdown in Chinese economy, inflated products prices, USD getting stronger every week, decreasing purchasing power and strict measures taken by central banks/institutions across the world to ensure less spending and more saving, could hit the demand for the product and service badly in near future.

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Further, with 40.7% in 2016, application for cancer segment by application is projected to dominate the overall market of huber needles. In addition to this, growing number of chemotherapy patients is expected to fuel the demand for huber needles by the end of 2024. In terms of regional platform, North America region grabbed the biggest market of huber needles in 2016 aided by U.S. Moreover, substantial rise in the number of death due to chronic disease in this region is projected to flourish the growth huber needles market.

Supportive Government Initiatives

Increasing government spending to develop the healthcare infrastructure on the back of positive GDP figure is believed to be the dynamic factor behind the rapid growth of huber needles market. Furthermore, rapid urbanization along with numerous reimbursement policies of the needles by the government is also predicted to intensify the growth of huber needles market.

Rising demand for safer needles

Rising number of deadly disease such as renal diseases, cancer and other blood related diseases are supplementing the demand for huber needles. Additionally, growing popularity of huber needles due to its safety and rising adoption of huber needles owing to minimize needle stick injuries are believed to bolster the market of huber needles by the end of 2024.

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On the contrary, high cost associated with huber needles and lack of awareness related with huber needles are expected to hamper the growth of huber needles market.

The report titled “Huber Needles Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global huber needles market in terms of market segmentation by product type, by application, By end user and by region. 

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

This report also provides the existing competitive scenario of some of the key players of the global huber needles market which includes company profiling of B. Braun Medical, Smith Medical, Baxter International, NIPRO Medical Corporations, C.R. Bard, Thiebaud, AngioDynamics, Exel International, Vygon S.A., Medsurg and Novo Nordsik. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global huber needles market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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Ready to Drink (RTD) Tea and Coffee Market
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Ready to Drink (RTD) Tea and Coffee Market
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