Huber Needles Market size is poised to reach USD 58 Million by the end of 2033, growing at a CAGR of 9% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of huber needles was over USD 43 Million. 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 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 needles 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.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
~9% |
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Base Year Market Size (2022) |
~ USD 43 Million |
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Forecast Year Market Size (2033) |
~ USD 58 Million |
Application (Dialysis, Blood Transfusion, Application for Cancer, Lap-band Adjustments, Home Parenteral Nutrition)
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
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.
Our in-depth analysis of the global huber needles market includes the following segments:
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By Product Type |
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By Application |
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By End-User |
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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 huber needles 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.
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.
Author Credits: Radhika Gupta, Shivam Bhutani
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