Jul 31, 2023, 08:01 EST
New York, United States, Jul 31, 2023, 08:01 /Comserve / -- During the forecast period of 2023-2033, the global Huber needles market is expected to reach an estimated value of ~USD 58 million by 2033.
Global Huber Needles Market Key Insights
During the forecast period of 2023-2033, the global Huber needles market is expected to reach an estimated value of ~USD 58 million by 2033, by expanding at a CAGR of ~9%. The market further generated a revenue of ~USD 43 million in the year 2022. Major key factors propelling the growth of the Huber needles market worldwide are the increasing prevalence of chronic renal diseases and growing health spending.
Market Definition of Huber Needles
Huber-point needles, which are thought to be noncoding, are usually recommended for the puncture of implanted drug-delivery devices, such as ports and pumps. Huber needles are employed in a variety of contexts. These needles can be used to provide chemotherapy, medications, saline liquid, or blood transfusions during an infusion appointment. If necessary, Huber needles may be left in place for a few hours or over a few days. Huber needles are useful for several procedures including blood transfusions, intravenous cancer therapy, lap-band modifications, and dialysis. There are many lengths and gauges of Huber needles. One should be aware of the needle size that is compatible with their port.
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Global Huber Needles Market: Growth Drivers
The growth of the global Huber needles market can majorly be attributed to the increasing prevalence of chronic disease and the rising incidences of fatalities owing to kidney failure. For instance, chronic kidney disease is a degenerative ailment that affects more than 900 million individuals worldwide or more than 12% of the entire population. In addition to this, accidental needle piercing of the skin results in injuries known as needle stick injuries. Everyone who deals with injectable needles or other syringe equipment runs the risk of suffering a needle stick injury. These accidents most frequently happen when people, especially nursing students, use, disassemble or throw away needles. As a result, the market for Huber needles is expanding owing to the sharp increase in needle stick injuries among healthcare professionals. For instance, approximately 5 million healthcare professionals in the United States alone are already at risk of contracting blood-borne illnesses as a result of a needle stick or other sharp instrument injuries.
The global Huber needles market is also estimated to grow majorly on account of the following:
Global Huber Needles Market: Restraining Factor
The creation of a hook at the tip of the available port needles, which can result in further damage of the port or pump membrane, is a major drawback of these needles, and reserialization of Huber needles, as advised by the manufacturers, is not advisable by many experts as it is well known that safe sterilization of small lumina, such as the needle's lumen, is not achievable. Hence, these factors are expected to be the major hindrance for the growth of the global Huber needles market during the forecast period.
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Global Huber Needles Market Segmentation
The blood transfusion segment, amongst all the other segments, is anticipated to garner the largest revenue by the end of 2033. The growth of the segment can be attributed to the staggering increase in blood transfusion throughout the world. For instance, according to information provided by the World Health Organization, there were around 118.54 million blood transfusions performed globally in 2022. Moreover, the increasing prevalence of chronic diseases and the rising prevalence of pandemics such as COVID-19 is estimated to boost the segment growth.
The North America Huber needles market is anticipated to hold the largest market share by the end of 2033 among the market in all the other regions. One of the key factors anticipated to drive the growth of the market in the region during the projected period is the significant spread of chemotherapy and dialysis procedures as a result of the significant increase in lifestyle diseases, such as kidney failure and diabetes. For instance, in 2020, there were approximately 790,000 cases of end-stage kidney disease (ESRD), also known as ESKD, in the United States, of which 75% required dialysis and 30% a kidney transplant.
The market research report on global Huber needles also includes the market size, market revenue, Y-o-Y growth, and key player analysis applicable for the market in North America (U.S., and Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), 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), and Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).
Key Market Players Featured in the Global Huber Needles Market
Some of the key players of the global Huber needles market are B. Braun Medical Inc., ICU Medical, Inc., Baxter International, Inc., Nipro Medical Corporation, Becton, Dickinson and Company, and others.
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