Spinal Needles Market Generate New Growth Opportunities by 2025

Posted by vinit sawant on April 30th, 2021

Market– Overview:

Spinal needles market has developed considerably due to rise in demand for this particular equipment. Market Research Future, who publishes market reports related to the Healthcare sector among others, recently published a report on the scenario in this market. The sector is estimated to develop at a CAGR of 6.8% during the forecasted period.

Increase in the level of neurological disorders has further provided a push to this market in terms of investments in infrastructure and improvement of product quality. The product quality has seen significant improvement in terms of materials that are utilized for production of spinal needles leading to better precision, and in turn creating positive demand from both the consumer and medical practitioners end.

The spinal needles market growth is expected to register 7.2% CAGR during the forecast period, 2019 to 2025. The market was valued at approximately USD 207.6 million in 2018.

Heightened presence of international market players has been beneficial for increasing the growth pace of the market. The limitations to the market’s growth can be due to the factors like increased surgery expenses, side effects of spine related operations and substitute methods for diagnostic testing.

Detailed Regional Analysis:

The spinal needle market in America is majorly driven by growing numbers of spinal surgeries, increasing prevalence of various neurological disease and rising awareness among people, this has led to America dominating the global spinal needle market. Well-developed healthcare sector and increasing healthcare spending with rising number of diseases has driven the European spinal needle market to obtain the second position. The Asia Pacific region is expected to grow rapidly during forecast period. Presence of a huge patient population suffering from different infectious diseases is the key driving factor for the market in Asia Pacific region.

Global Competitive Analysis:

The top players in this market segment are Halyard Health (US), Boston Scientific (US), MYCO Medical (US),  B. Braun (Germany), Medline Industries (US), Sarstedt (UK), BD (US), Smiths Medical (US), Exel International (US), Wallach Surgical (US) and Medtronic (UK) to name a few.