Market Outlook for Port Needles:
The Port needles market is poised to witness a 7.0% increase in value from 2019, reaching a projected USD 62.6 Million by 2027. This surge is predominantly fueled by the growing acceptance of Implantable Ports.
The widespread use of Intravenous (IV) medication, especially in critical situations like stroke, heart attack, or poisoning, underscores its significance due to its precise dosage management. IV administration ensures the swift delivery of medication directly into the bloodstream, bypassing the delays associated with oral routes. The escalating demand for IV medication is influenced by factors such as the imperative need for immediate drug efficacy and the limitations in orally administering certain drugs. Furthermore, the market is bolstered by the increasing requisition for blood transfusions, where conditions like cancer and sickle cell disease contribute significantly to meeting substantial patient demands.
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Key Points from the Report:
The North American market dominated in 2018, attributed to advanced technology acceptance, well-established healthcare facilities, and the presence of key market players in the region.
Market analysis covers the period from 2016-2027, with 2018 as the base year.
Detailed insights into product types, end-users, regional statistics, and market trends are provided.
Salient Trends in the Port Needles Market:
Implantable ports for paediatric cancer treatment contribute significantly to revenue generation, driving the demand for port needles.
Increasing occurrences of Diabetes and Chronic Obstructive Pulmonary Disease (COPD) boost market demand.
Lightweight ports, high-quality imaging accessibility, and the availability of CT markers are expected to drive port needle demand.
Implantable port devices reduce infection risks, enhancing patient mobility during infusion treatments like chemotherapy.
Key Companies Profiled:
Medtronic,
Becton,
Dickinson,
Company,
Smiths Medical,
Novo Nordisk,
Braun Melsungen AG,
Hamilton Syringes and Needles,
NIPRO Medical,
Boston Scientific,
Terumo Corporation,
Hi-Tech Medicare Devices,
among others.
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Market Analysis:
The market valuation was USD 34.0 Million in 2018 and is projected to reach USD 62.6 Million by 2027.
Angled port needles, designed for short to medium-term infusion, facilitate easy penetration into septum’s without coring.
Hospitals dominated the market in 2018 and are expected to grow at a rate of 6.7% from 2019-2027.
The Asia Pacific region is anticipated to witness the fastest CAGR of 8.2%, driven by improving healthcare infrastructure and better reimbursement scenarios.
Report Segmentation:
The report categorizes the global port needles market based on product type, application, end-users, and region:
Product Types:
Winged Port Needles
Angled Port Needles
Straight Port Needles
Applications:
Blood Transfusions
Cancer Treatment
Parental Nutrition
Other
End-Users:
Hospitals
Clinics
Ambulatory Surgical Centers
Others
Regions:
North America (U.S)
Europe (U.K, France)
Asia Pacific (China, India, Japan)
Latin America (Brazil)
MEA
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Frequently Asked Questions (FAQ) - Port Needles Market
What is the projected growth rate of the port needles market?
The port needles market is projected to grow at a rate of 7.0% in terms of value from 2019 to reach USD 62.6 Million by 2027.
What factors contribute to the growth of the market?
The growth of the market is attributed to the increasing application of Implantable Ports, the rising demand for Intravenous (IV) medication, and the increasing need for blood transfusions.
Which region held the largest market share in 2018?
The market in North America held the largest market share in 2018, driven by higher acceptance of advanced technologies, well-established healthcare facilities, and the presence of leading market players in the region.
What are the key trends influencing the port needles market?
Key trends include the deployment of implantable ports in pediatric cancer treatment, the impact of rising occurrences of Diabetes and Chronic Obstructive Pulmonary Disease (COPD), and the development of lightweight ports for patient convenience.
Who are some of the key players in the port needles market?
Key players in the market include Medtronic, Becton, Dickinson, and Company, Smiths Medical, Novo Nordisk, B. Braun Melsungen AG, Hamilton Syringes and Needles, NIPRO Medical, Boston Scientific, Terumo Corporation, and Hi-Tech Medicare Devices, among others.
What is the current market valuation and the expected future market size?
The market valuation was USD 34.0 Million in 2018 and is expected to reach USD 62.6 Million by 2027.
What are the significant product types in the port needles market?
The port needles market includes Winged Port Needles, Angled Port Needles, and Straight Port Needles.
Which end-users dominate the market, and what is their expected growth rate?
Hospitals dominated the market in 2018 and are expected to witness a growth rate of 6.7% in the period 2019-2027.
In terms of regional outlook, which regions are projected to witness the fastest growth?
The Asia Pacific region is projected to witness the fastest CAGR of 8.2% in the forecast period, driven by improving healthcare infrastructure and better reimbursement scenarios.
Are there any potential challenges hindering the growth of the port needles market? - Possible side effects of port needles are mentioned as potential challenges that may impact the growth of the market in the upcoming years.
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