Dublin, May 29, 2023 (GLOBE NEWSWIRE) -- The "Global Needle Market (2023-2028) by Product, Type, Delivery Mode, Material, Applications, End-Users, and Geography, Competitive Analysis, Impact of Covid-19, Impact of Economic Slowdown & Impending Recession with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Needle Market is estimated to be USD 826.95 Mn in 2023 and is expected to reach USD 1098.32 Mn by 2028, growing at a CAGR of 5.84%.
Market dynamics are forces that impact the prices and behaviors of the stakeholders. These forces create pricing signals which result from the changes in the supply and demand curves for a given product or service.
Forces of Market Dynamics may be related to macro-economic and micro-economic factors. There are dynamic market forces other than price, demand, and supply. Human emotions can also drive decisions, influence the market, and create price signals.
As the market dynamics impact the supply and demand curves, decision-makers aim to determine the best way to use various financial tools to stem various strategies for speeding the growth and reducing the risks.
Competitive Quadrant
The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
Ansoff Analysis
The report presents a detailed Ansoff matrix analysis for the Global Needle Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
The analyst analyses the Global Needle Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
Based on the SWOT analysis conducted on the industry and industry players, the analyst has devised suitable strategies for market growth.
Why buy this report?
- The report offers a comprehensive evaluation of the Global Needle Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
- The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
- The report includes an in-depth market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 and impact of economic slowdown & impending recession on the market are also featured in the report.
- The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
- The report also contains the competitive analysis using Positioning Quadrants, the analyst's competitive positioning tool.
Market Dynamics
Drivers
- Growing Geriatric Population with High Prevalence of Chronic Diseases
- Increasing Minimally Invasive Biopsies
- Increasing Number of Hospitals
- Increasing Demand for Vaccines
Restraints
- High Risk of Infections
Opportunities
- Surge in Research and Development to Introduce New Needle Technologies with Safety and Precision
- Rise in Self-administration of Drugs
Challenges
- Concerns over Needle Stick Injuries and Infection
- Availability of Alternatives - Needle-Free Injectors
Market Segmentation
The Global Needle Market is segmented based on Product, Type, Delivery Mode, Material, Applications, End-Users, and Geography.
- By Product, the market is classified into Blood Collection Needles, Ophthalmic Needles, Dental Needles, Insufflation Needles, Pen Needles, and Biopsy and Aspiration Needles.
- By Type, the market is classified into Conventional Needles and Safety Needles.
- By Delivery Mode, the market is classified into Hypodermic Needles, Intravenous Needles, Intramuscular Needles, and Intraperitoneal Needles.
- By Material, the market is classified into Glass Needles, Plastic Needles, Stainless Steel/Metallic Needles, and Polyetheretherketone (PEEK) Needles.
- By Applications, the market is classified into Diagnostic Applications and Therapeutics Applications.
- By End-Users, the market is classified into Hospitals & Clinics, Diagnostic Centers, and Home Healthcare.
- By Geography, the market is classified into Americas, Europe, Middle-East & Africa, and Asia-Pacific.
Companies Mentioned
- Artsana Group
- B. Braun Melsungen Ag
- Becton Dickinson and Company
- Boston Scientific Corp.
- ConMed Corp.
- Corza Medical
- FUJIFILM Holdings Corp.
- Hilgenberg GmbH
- ICU Medical, Inc.
- Johnson & Johnson
- KLS Martin Group
- Medtronic PLC
- Misawa Medical Industry Co., Ltd.
- Nipro Medical Corp.
- Novo Nordisk A/S
- Olympus Corp.
- Scanlan International
- Stryker Corp.
- Terumo Corp.
- Thermo Fisher Scientific, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/wvf9p6
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