The global venipuncture needles market is anticipated to grow at a CAGR of 5.4%. Increase in diagnostic tests for diseases, rise in blood draws performed along with increase in blood donation programs are major factors driving the global venipuncture needles market.
Adroit Market Research study on the global market for venipuncture needles offers a holistic view of the industry from 2020 to 2028 as forecast period, including factors such as market drivers, limitations, opportunities, challenges and regulatory overview. The market has been analyzed from 2018 to 2028, with a base year estimate of 2019 and a projection from 2021 to 2028. The report covers the current status and potential characteristics of the market at both the global and the country level. Moreover, the report also assesses market competition with Porter's analysis of five strengths and places leading players on the basis of their product range, regional presence, strategic initiatives and overall sales. Prominent players operating in the global venipuncture needles market have been studied in detail.
Venipuncture is an invasive procedure that involves piercing of a vein with a needle for intravenous injection or blood removal. Venipuncture needles are used for sampling the blood. There are various types of needles available for venipuncture ranging from 20-gauge to 22 gauge. Increase in diagnostic tests for disease and blood collection is a major factor driving the global venipuncture needles market. Moreover, rise in prevalence of infectious diseases requiring blood collection along with increase in blood donation camps is expected for robust market expansion of the market in the coming few years.
The global venipuncture needles market has been segmented based on type, application, end-user, and region. On the basis on vein type, the global venipuncture needles market is categorized into cephalic vein, median cubital vein, basilic vein, and others. On the basis of end-user, the global venipuncture needles market is segregated into hospitals, diagnostic laboratories, physician’s office, and others. Hospitals segment dominated the global venipuncture needles in 2019 owing to easy accessibility and availability of rapid test results in these facilities. Diagnostic centers is anticipated to witness strong growth in the coming years owing to comprehensive expertise as well as presence of skilled personnel.
Geographically, North America held substantial share of the global venipuncture needles market in 2019. Presence of key industry players offering wide range of venipuncture needles, high adoption of advanced technology, along with large volume of blood draws performed in the U.S. are key factors likely to drive the growth of the market in the next few years. Asia Pacific is anticipated to create immense growth opportunities in the future. Surging population, growing adoption of disposable products and rise in blood donation camps in emerging countries such as India and China are factors expected to drive the growth of the market in the region.
Major players operating in the global venipuncture needles market include Becton, Dickinson & Company, Smiths Medical, B. Braun Melsungen AG, Disera Medical Equipment Logistics Inc., Demophorius Healthcare, NxStage Medical, Inc, Improve Medical, Retractable Technologies, Inc., Plasti Lab, and FL MEDICAL s.r.l. among others.
Key Segments of the Global Venipuncture Needles Market
Vein Type Overview, 2018-2028 (USD Million)
- Cephalic Vein
- Median Cubital Vein
- Basilic Vein
End-users Overview, 2018-2028 (USD Million)
- Diagnostic Laboratories
- Physician’s Office
Regional Overview, 2018-2028 (USD Million)
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa