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HEALTHCARE & PHARMACEUTICAL

Huber Needles Market Analysis by Product Type (Straight Huber Needles, and Curved Huber Needles); by Application (Dialysis, Blood Transfusion, Application for Cancer, Lap-band Adjustments, Home Parenteral Nutrition, and Others); and by End-User (Hospitals, Clinics, Oncology Centers, Ambulatory Surgical Centers, Home Care Settings, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • Becton, Dickinson and Company introduced a new generation of prefillable syringes (PFS) that sets a new benchmark for vaccine PFS performance. In collaboration with leading pharmaceutical companies, the new BD Effivax Glass Prefillable Syringe has been designed to meet the complex and evolving needs of vaccine manufacturers.

  • CU Medical, Inc., has acquired the Smiths Medical from Smiths Group plc., who is a leading provider of syringe and ambulatory infusion devices, vascular access, and vital care products.

 

Global Huber Needles Market Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~9%

Base Year Market Size (2022)

 ~ USD 43 Million

Forecast Year Market Size (2033)

~ USD 58 Million

 

The global huber needles market is estimated to garner a revenue of ~USD 58 Million by the end of 2033 by growing at a CAGR of ~9% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 43 Million in the year 2022. The growth of the market is primarily attributed to the worldwide increasing prevalence of chronic renal diseases. For instance, chronic kidney disease is a degenerative disorder that affects more than 12% of the global population, that represents more than 900 million people.

Huber needle market overview image

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Huber needles are hollow needles that have slant tip to make it easy to go throw skin. These needles are primarily used for recurrent access to veins for blood extraction and the infusion of blood products, medicine, and nutritional solutions in combination with a point implanted in the body of a persistently ill patient. Increasing use of huber needles for the treatment of hepatitis and HIV is fueling up the growth of the huber needle market over the forecast period. As per the statistics provided by the World Health Organization (WHO), more than 350 million people worldwide are still surviving with the risk of hepatitis B or C infection.

Global Huber Needles Market: Growth Drivers and Challenges

Growth Drivers

  • Rising Prevalence of Needle Stick Injuries in Healthcare Workers – Needle stick injuries are injuries caused by needles that pierce the skin by accident. Needle stick injuries are a risk for everyone who works with intravenous syringes or other needle-related equipment. These injuries most commonly occur when persons, such as nursing students, use, dismantle, or discard of needles. Therefore, surging cases of needle stick injuries in healthcare workers are lifting up the huber needles market growth. For instance, presently, in the United States alone, over 5 million healthcare professionals are at risk of exposure to blood borne infections caused by needle stick or other sharp objects injuries.

  • Global Surge in HIV Prevalence – According to the World Health Organization data, an anticipated 1.5 million (UI 1.0 to 2.0 million) people were infected with HIV for the first time. This carried the worldwide HIV population to 38.4 million people by 2021.

  • Worldwide Growing Occurrence of Cancer - According to World Health Organization (WHO) figures, approximately 10 million people died from cancer worldwide in 2020.

  • Increasing Ratio of Obesity in People Across the Globe – For instance, more than 2 billion people globally, including 700 million adults, 380 million teenagers, and 45 million children, are affected by obesity.

  • Worldwide Spike in Healthcare Expenditure - According to the World Bank statistics, worldwide healthcare expenditure accelerated by 9.83% in 2019.

Challenges

  • High Cost Associated with The Manufacturing of Huber Needle Product
  • Lack of Technological Advancement
  • High Risk of Contamination

The global huber needles market is segmented and analyzed for demand and supply by application into dialysis, blood transfusion, application for cancer, lap-band adjustments, home parenteral nutrition, and others. Amongst these, the blood transfusion segment is projected to hold the largest market size by the end of 2033 on the back of the staggering increase in blood transfusion throughout the world. Based on the data released by the World Health Organization, worldwide, nearly 118.54 million blood transfusions are collected.

Major Macro-Economic Indicators Impacting the Market Growth

huber needle expenditure graph

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Global Huber Needles Market Regional Synopsis

Regionally, the global huber needles market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America is projected to hold the largest market share by the end of 2033 backed by the significant propagation in chemotherapy and dialysis processes on account of major surge in lifestyle diseases, such as, diabetes, along with increasing count of various chronic disorders. For instance, approximately 790,000 individuals in the United States developed ESKD, also widely recognized as an end-stage renal disease (ESRD), in 2020, with 75% were receiving dialysis and 30% receiving a kidney transplant.

Huber needle market share image

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The global huber needles market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global huber needles market includes the following segments:

         By Product Type

  • Straight Huber Needles
  • Curved Huber Needles

         By Application

  • Dialysis
  • Blood Transfusion
  • Application for Cancer
  • Lap-Band Adjustments
  • Home Parenteral Nutrition
  • Others

          By End-User

  • Hospitals
  • Clinics
  • Oncology Centers
  • Ambulatory Surgical Centers
  • Home Care Settings
  • Others

Top Featured Companies Dominating the Global Huber Needles Market

  • B. Braun Medical Inc.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • ICU Medical, Inc.
  • Baxter International, Inc.
  • Nipro Medical Corporation
  • Becton, Dickinson and Company
  • AngioDynamics, Inc.
  • Vygon SAS
  • EXELINT International, Co.
  • Medtronic
  • Terumo Corporation

 

 

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