Special purpose needle market to expand at 7.5% CAGR through 2023

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Special purpose needle market to expand at 7.5% CAGR through 2023

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The Global Special Purpose Needle market is majorly driven by growing hygiene consciousness among patients and increase in the use of self-injection devices according to our research report Global Special Purpose Needle Market Outlook 2023”.

Regionally, the special purpose needle market is segmented into North America, Europe, Asia-Pacific and Rest of World (ROW). Among these, North-America is anticipated to witness a significant growth and occupying the largest share of the submersible pump market by 2021.   

Global special purpose needle market is anticipated to project a promising growth over the forecast period of forecast owing to the increasing aging population and government initiatives in order to raise awareness about the use of safe needles. The market is estimated to reach USD 17 billion by 2023 witnessing a compound annual growth rate of 7.5% over forecast period.

North-America is likely to dominate the global special purpose needle market owing to the advance medical facilities in countries such as U.S and Canada.

Asia-Pacific and Latin-America are expected to expand at a higher pace owing to the collaboration of private medical companies and government of developing nations such as India and China in order to provide better medical facilities across the region.

Growing Hygiene Consciousness among Patients: Uplift

Needle infection is the main cause behind the spread of blood borne diseases such as HIV, simplex virus. Increasing awareness towards the use of safe and hygienic needles and government initiatives to provide advance user safety and cost-effective needles will further uplift the demand for special purpose needles across the globe.

Increase in the Use of Self-Injection Devices: Impetus

Patients suffering from diseases such as allergic asthma, rhinitis, and migraine are more inclined towards the use self-injection devices. This will force special purpose needle manufactures to develop user-friendly and safe needles and this will further boost the demand of special purpose needles across the globe.

The report titled Global Special Purpose Needle Market Outlook 2023 delivers detailed overview of the special purpose needle in terms of market segmentation by regions, by types, by end use industry applications.

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 special purpose needle industry which includes company profiling of Medtronics, B. Braun Melsungen AG,             Dickinson Company, Terumo Corporation, NIPRO Medical Corporationetc. 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 on the global special purpose needle 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.

To know more about this research, kindly visit http://www.researchnester.com/reports/special-purpose-needle-market-global-demand-analysis-opportunity-outlook-2023/199

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