Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
Global Huber Needles Market Overview
Huber needles are hollow needles that have slant tip to make it easy to go throw skin. These needles are used in chemotherapy, drug delivery, transfusion and blood sampling through the implanted port septum which is surgically rooted into skin. A Huber needle is an alternative to other delivery systems used for infusion as they are used with patients that need repetitive vascular access and fluid therapy for long term and is specially designed to be used with implanted ports.
Market Size and Forecast
The global huber needles market is expected to grow at a CAGR of 6.2% over the forecast period i.e. 2017-2024. Further, huber needles market is anticipated to reach USD 60 million globally by 2024. The growth of huber needles market is propelled by the increase of deadly diseases such as cancer, chronic renal diseases and obesity across the globe and robust development of healthcare infrastructure. Moreover, these chronic diseases are creating a massive opportunity for companies operating in the global huber needles market.CLICK TO DOWNLOAD FREE SAMPLE REPORT
Geographically, North America has been a leading huber needles market in terms of market demand and is anticipated to continue its dominance over the forecast period owing to a high diagnosis rate and increasing adoption of huber needles for long-term infusion therapies such as chemotherapy and dialysis. The prominent country witnessing the augmented demand for huber needles in North America is U.S. Furthermore North America is expected to be the most lucrative market in future, owing to presence of large manufacturing companies of huber needles market in this region. Europe is projected to hold a substantial share in the global huber needle market. The high growth in this region is attributed to the presence of a large number of manufacturing vendors and the availability of advanced healthcare infrastructure.
The market of the Asia-Pacific region is anticipated to grow at a CAGR of 8.5% over the forecast period. Significant increase in healthcare services spending along with rapid economic growth and increasing awareness about health issues are the dynamic factors behind the growth of huber needles market in this region. Latin America is also expected to observe significant growth of huber needles market over the forecast period, owing to development of healthcare infrastructure.
Market Segmentation
Our in-depth analysis segmented the global huber needles market in the following segments:
By Product Type
By Application
By End User
By Region
Global huber needles market is further classified on the basis of region as follows:
Growth Drivers and Challenges
The market of huber needles is growing on the back of the government regulations to minimize the needle stick injuries. Further, various reimbursement policies of the needles by the government are fostering the growth of huber needles market over the forecast period. Moreover, rising disposable income and advancement in healthcare services in developed region is likely to foster the growth of this market. Apart from this, increasing deadly diseases such as cancer and others are likely to grow the market of huber needle market.
Although, high cost associated with the manufacturing of huber needle product is believed to dampen the growth of global huber needle market. Additionally, lack of technological advancement and contamination risks are anticipated to further restrain the growth of the global huber needle market.
Key players
The major key players for huber needles market are as follows
Scope and Context
Overview of the Parent Market
Analyst View
Segmentation
The global huber needles market is segmented as follows:
Market Dynamics
Supply & Demand Risk
Competitive Landscape
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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