Product Code: RP-ID-10346879 |
Published Date: 21 Oct 2022 |
Region: NA |
Category: Healthcare & Pharmaceuticals |
Report ID: 10346879
Market Overview:
Global Filter Needles Market Size study, by Raw Material (Stainless Steel and Glass), by End-use (Hospitals, Clinics, Ambulatory Surgery Centers and Others) and Regional Forecasts 2020-2027
Market Overview
Global Filter Needles Market is valued approximately USD 1.3 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 7.2 % over the forecast period 2020-2027. The filter needle places a glass filtering device at the base of a syringe needle, which creates a one-way flow when injecting or withdrawing fluid into or from the syringe. The filter needle can only be pulled or pushed in one direction. The increasing prevalence of diabetes coupled with rising geriatric population across the globe are the few factors responsible for growth of the market over the forecast period. For instance, according to American Diabetes Association, the annual incidence of diagnosed diabetes in youth in 2014-2015 was 18,200 with type 1 diabetes, 5,800 with type 2 diabetes and has risen to 34.2 million Americans diagnosed diabetes in 2018, Similarly, in 2018, 10.5% of the population, had diabetes, approximately 1.6 million Americans have type 1 diabetes, including about 187,000 children and adolescents. As per International Diabetes Federation, In 2019, the total number of diabetic patients suffering were 463 million in 2019 and is expected to rise to 700 million by 2045 worldwide. And in 2019 there were 4.2 million people died due to diabetes. Similarly, according to AgeingAsia.org, the number of populations aged 60 and above were 11,988,000 in 2019 and is expected to rise by 29,841,000 in 2050. Also, the total percentage of population aged 60 and above were 12.3% in 2019 and is expected to rise by 27.2 % in 2050. Thus, increasing prevalence of diabetes coupled with rising geriatric population is augmenting the demand of the market growth. However, low adoption of advanced healthcare facilities and a lack of sufficient skilled professionals is the major factor restraining the growth of global Filter Needles market during the forecast period.
The regional analysis of global Filter Needles market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the fast adoption of new technology and the presence of several key players in the market. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.
Major market player included in this report are:
Becton, Dickinson and Company (BD)
Cardinal Health, Inc.
Sentra Medical Ltd.
Myco Medical Supplies Inc
Stryker Corporation
B. Braun
SOL-MILLENNIUM Medical Group
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Raw Material:
Stainless Steel
Glass
By End-use:
Hospitals
Clinics
Ambulatory Surgery Centers
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Filter Needles Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
Becton, Dickinson and Company (BD)
Cardinal Health, Inc.
Sentra Medical Ltd.
Myco Medical Supplies Inc
Stryker Corporation
B. Braun
SOL-MILLENNIUM Medical Group
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