Spinal Needle Market 2018; Major Developments in Healthcare Sector | Transform the Competitive Landscape by 2023 with 6.8% of CAGR

Global spinal needle market – Overview

The global spinal needle market is estimated to rise at a CAGR of 6.8% during the given forecasted period 2017-2023. Spinal needles are medical devices generally used in administration of drug or diagnostic purposes. Spinal needles are inserted into the spinal cord or canal for the collecting cerebrospinal fluid (CSF) for diagnostic testing purposes or drug administration for the treatment of any neurological disease, fractures or vertebroplasty. Spinal anaesthesia is done to temporarily numb the area of pain during spine surgery in which the spinal needles play an important role in the drug administration of anaesthesia.

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Spinal needles market is expected to grow during the forecast period due to rise in the geriatric population leading to increase occurrence of neurological disorders and osteoarthritis associated with age, to increasing displacement of vertebrae, rising prevalence of spinal stenosis or spondylolisthesis and increasing applications of spinal needles in different spine surgeries and diagnostic tests. Besides, the increase in number of patients suffering from neurodegenerative disorders such as Alzheimer’s and Parkinson’s disease, Technological advancements leading to more precession in designing of the needle, increasing awareness about spinal diseases, rising healthcare expenditure of people, and increasing government support for R&D activities are more likely to contribute positively towards the spinal needles market growth during forecast period.

Prestigious Players:

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) are key market players in  Global Syringe and needle market and are profiled in MRFR Analysis. 

Global spinal needle market - competitive Analysis

B. Braun Medical In Company headquartered in U.S., develops, manufactures, and markets innovative medical products and services to the healthcare industry. It has both spinal introducer needle range as well as pencil point and quincke type spinal anaesthesia needle. Recently in April 2018 B.Braun introduced its first FDA-approved local anaesthetic spinal needle Clorotekal (chloroprocaine hydrochloride) at the American Society of Regional Anaesthesia (ASRA) in New York.

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BD is a one of the globally leading medical technology company which offers innovative solutions to enhance diagnosis as well as equip surgical and interventional procedures. BD has several range of spinal needles depending on the suitability of procedure and use such as; spinal introducers needle, high flow pencil point needle, short and long length needle. BD Whitacre spinal needle and BD Quincke spinal needle are popular choice because of their design.

Global - Spinal needle market Regional Analysis

North America is anticipated to lead the global syringe and needle market owing to increasing obese population, rising geriatric population and neurodegenerative diseases associated with old-age, increasing acceptance of new technologies, increasing spending for syringe and needle research and development and presence of and presence of key pharmaceutical companies. Additionally, the presence of a large customer base in this region is likely to propel the growth of the spinal needle market in North America. For instance, According to the stats presented in the report published by Dartmouth Institute of Health Policy & Clinical Practice, in year 2014, approximately 80% of Americans are supposed to experience back pain and nearly 30 million people a year are estimated to receive professional medical care for a spine problem.

Europe stands second in the global syringe and needle market.  Lots of establish medical device company export their products to the developing nation. The European market is expected to grow during the forecast period due to rising prevalence of spinal problems or vertebra fractures due to football or gymnastics, various government legislative reforms providing regulatory guidelines to manufacturing companies, the growing research and developments sector, need for advanced treatments along with growing need for better healthcare infrastructure. For instance, the European Commission stated that the R&D spending by the pharmaceuticals and biotechnology sectors grew by 8.7% in 2014.

Asia Pacific is expected to be the fastest region in the global syringe and needle market. Country like India, Singapore, Australia and China of Asia Pacific region are considering fastest growing region due to the presence of huge population suffering with osteoarthritis and Parkinson’s disease. For instance, according to report published by the United Nations in 2015; between 2015 and 2030, the number of older persons aged 60 years or over in the world is predicted to grow by 56 %, from 901 million to more than 1.4 billion, out of which 66% of older population would reside in Asia-Pacific regions. Thus, there will be huge rise in patient pool for Alzheimer’s, Parkinson’s, Osteoarthritis and spinal stenosis as older people are more prone to it. These countries are quickly adapting to new technologies so as to improve the health of every citizen.Goverment is also supporting the same by promoting health insurance, reimbursement policies and investing in research and development in clinical research sector as well as in building proper healthcare infrastructure.

The Middle East and Africa region holds the least share in the market due to the presence of low income countries and low healthcare expenditure, especially within the African region. Within this region, the Middle East leads the market due to the presence of developed economies like United Arab Emirates, Saudi Arabia, and others. Moreover, rising geriatric population, developed healthcare infrastructure and rising number of skilled medical professionals fuels the regional market.

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