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Filter Needles Industry Overview
The global filter needles market size was valued at USD 1.4 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 7.2% from 2021 to 2027. The increasing number of road accidents across the globe is one of the major factors driving the market. The increasing incidence of accidents such as road accidents, burns, and trauma events across the globe is anticipated to drive the market for filter needles. For instance, as per the WHO (2018), around 1,000,000 people are severely or moderately burnt in India per year. In addition, as per NCBI, in 2017, countries such as Bulgaria, Finland, the Netherlands, China, Australia, and the U.K. reported a rise in the incidence of burn wounds. Furthermore, as per the American Association for the Surgery of Trauma, in 2017, around 1.2 million people died globally, accounting for the deaths of around 3,242 people per day in road accidents every year. Road accidents mostly occur in middle- or low-income countries. Filter needles are used to drain out pus-filled wounds caused due to accidents. Thus, the rising number of accidents is expected to boost the demand for filter needles, which is expected to lead to considerable market growth over the forecast period.
Gather more insights about the market drivers, restrains and growth of the Global Filter Needles market
The increasing prevalence of diabetes (both type I and type II) across the globe is expected to drive the market for filter needles. For instance, as per the International Diabetes Federation, the global prevalence of diabetes is expected to increase from 366.0 million in 2011 to 552.0 million by 2030. Since prolonged diabetes leads to diabetic foot ulcers, thus, the rising prevalence of diabetes is expected to render a positive impact on market growth over the forecast period.
Furthermore, the increasing geriatric population across the globe is also anticipated to propel the growth of the market for filter needles. For instance, as per the World Health Organization (WHO), the global geriatric population is anticipated to rise from 84.0 million in 2014 to 2.0 billion by 2050. Since the geriatric population is prone to chronic diseases and chronic ulcers, thus growing geriatric population is also expected to surge market growth over the forecast period.
Globally, the number of surgeries is increasing owing to which the incidence rate of surgical site infection is also anticipated to rise. According to the report published by the Health Research Educational Trust (HRET) in 2018, around 15.0 million surgeries are performed in the U.S. every year and approximately 2.0% to 5.0% of patients developed surgical site infection. Filter needles are used to drain pus and blood from the infected wounds and inject medication for proper healing of wounds. Such factors are expected to boost the growth of the market for filter needles over the forecast period.
Browse through Grand View Research's Medical Devices Industry Research Reports.
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Filter Needles Market Segmentation
Grand View Research has segmented the global filter needles market on the basis of raw material, end-use, and region:
Filter Needles Raw Material Outlook (Revenue, USD Million, 2016 - 2027)
- Stainless Steel
- Glass
- Others
Filter Needles End-use Outlook (Revenue, USD Million, 2016 - 2027)
- Hospitals
- Clinics
- Ambulatory Surgery Centers
- Others
Filter Needles Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies profiled:
Some prominent players in the global Filter Needles market include
- BD
- Cardinal Health
- Sentra Medical
- Myco Medical
- Stryker
- Braun Melsungen AG
- SOL-Millennium
Order a free sample PDF of the Filter Needles Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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