According to a new report by Expert Market Research, ‘Global Huber Needles Market Size, Share, Price, Trends, Growth, Report and Forecast 2020-2025’, the global huber needles market is expected to grow at a CAGR of 6.2% over the forecast period i.e. 2020-2025. Further, huber needles market is anticipated to reach USD 60 million globally by 2025.
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Competitive Landscape & Supplier Analysis:
- Baxter International Inc. (NYSE: BAX)
- Becton, Dickinson, and Company (NYSE: BDX)
- NIPRO Corporation (TYO: 8086)
- B. Braun Medical Inc.
- Smiths Medical Group Limited
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Owing to the convenience and inherent advantages, Huber needles are witnessing a growth worldwide. Huber needles are being widely used with an increase in patients undergoing chemotherapy treatment. Manufacturers of Huber needles are focusing on safety and comfort for patients while developing Huber needles. Hence, innovation in design and specially lubricated Huber needles are being developed by manufacturers to reduce the penetration force and pain caused while the needle is inserted. Manufacturers are also focusing on using standardized coring test. This can help companies to develop a well-tested product, avoiding adverse health effects. Manufacturers are also selling Huber needles with specification on the compatibility of Huber needle with specific ports. In case of cancer, Huber needles are finding large application in intravenous cancer treatments and in blood transfusion.
The tremendous rise in several deadly ailments such as chronic renal diseases, cancer, and obesity across the globe is one of the major factors that is predicted to fuel the growth of the global huber needle market in the next few years. In addition, stringent government regulations regarding the reduction in needle stick injuries and ensure patient safety are some of the other important aspects expected to accelerate the growth of the overall market in the forecast period.
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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.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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