The venipuncture needles and syringes market studied were projected to grow with a CAGR of nearly 5.6% over the forecast period. The major factor attributing to the growth of the market is the rising diagnostics and screening tests of diseases like anemia, leukemia, etc., which involves the collection of blood. As per GLOBOCAN, the number of leukemia cases in the year 2018 was estimated to be 437,033. As the incidence of such diseases increases the usage of the needles and syringes increases and thus the market is expected to grow in the coming years. Furthermore, the growing preference towards disposable products for blood drawing and increasing awareness of blood donation and are a few other major factors for the market growth. Rising investments in the surgical instruments by the hospitals is boosting the market. However, the lack of skilled labor is the major drawback of market growth.
Scope of the Report
As per the scope of the report venipuncture needles and syringes are used to draw blood from people. This report is segmented by Product, by Vein Type, by End-User, and by Geography.
Key Market Trends
Median Cubital Vein Segment is Expected to Dominate the Market
- The median cubital vein in the antecubital fossa is the most commonly used site due to its accessibility and size, followed by the neighboring cephalic and basilic veins. Veins on the dorsal surface of the hand and wrist, radial part of the wrist, followed by dorsal and lateral parts of the ankle are used, but these must only be used if they can demonstrate proper circulation.
- The major factors propelling the market growth are increasing diagnostic screening of many diseases that require the blood test, increasing awareness for disposable products. Moreover, increasing blood donation programs also propelling the market growth.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to dominate the overall venipuncture needles and syringes market, throughout the forecast period. The largest share is mainly due to the presence of key players and their usage of advanced medical technologies to develop. Furthermore, growing awareness among the population to use disposable products, an increase in the diagnostic test for any disease needs blood sample which therefore is useful to obtain results. The companies also have well-established direct channel collaboration with hospitals and clinics to serve the studied market.
The venipuncture needles and syringes market is moderately competitive and consists of several major players. Some of the companies which are currently present in the market are CML Biotech, Demophorius Healthcare, Disera Medical Equipment Logistics Inc., Becton, Dickinson and Company, FL MEDICAL s.r.l., Improve Medical, NxStage Medical, Inc, Plasti Lab.
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