Disposable Needle Guides Market

Disposable Needle Guides Market Overview

The disposable needle guides market is expected to strengthen its hold at a moderate CAGR of 6% during the forecast period. The global market holds an estimated revenue of US$ 3.56 Bn in 2022 and is likely to cross US$ 6.01 Bn by the end of 2032.

Needle guides include two types of needles; disposable needle guides and reusable needle guides. Disposable needle guides come under the medical-grade plastic device that fits into the ultrasound transducer. These needle guides are sterile and become a part of the sterilization done by ethylene oxide.

Demand for disposal needle guides increases due to the advantages that they are easy to use the process and cost-effective. Other properties that disposable needle guides are low profile and smoother than their metal counterparts, pushing the sales of disposable needle guides. 

Demand for disposable needle guides rises due to its high demand from healthcare and medical research programs, especially after the covid-19 spread. The use of disposable needle guides has proliferated in research and development programs run by the government, pushing the sales of disposable needle guides globally.

What are the Key Drivers and Restraints to the Disposable Needle Guides Market?

Increasing healthcare awareness is one of the important factors driving the growth of disposable needle guides market as a greater number of people are going to have diagnostic tests. The increasing geriatric population is expected to increase the growth of the disposable needle guides market.

Other important factors, such as the increasing number of diagnostic laboratories, an increasing number of hospitals, etc., are expected to increase the growth of the disposable needle guides market. The increasing prevalence of chronic diseases such as cardiac disease, neurological disorders, Musco skeletal disorders, etc., can increase the growth of the disposable needle guides market.

Technological advancement in the field of healthcare and the establishment of well-equipped healthcare infrastructure is expected to increase the growth of the disposable needle guides market.

Apart from the factors driving the disposable needle guide market, there are some factors that can hinder the growth of the disposable needle guides market.

Restraints such as the high cost of treatment and diagnosis, and lack of awareness in some of the emerging regions, are expected to hinder the growth in the demand for disposable needle guides.

Sabyasachi Ghosh

Principal Consultant

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Which is the Key Disposable Needle Guides Market?

On the basis of geography, the global disposable needle guides market has been segmented into seven key regions, viz. North America, Latin America, Europe, East Asia, South Asia, and Oceania.

North America is expected to hold the largest share in the global disposable needle guides market due to the presence of well-established healthcare infrastructure and the availability of technologically advanced products. 

Europe is also expected to hold the second-largest share of the global disposable needle guides market due to the increasing population. The Asia Pacific is also expected to register a high revenue growth in the disposable needle guides market due to the increasing population and increasing healthcare awareness among the people, increasing the sales of disposable needle guides.

Which are the Key Competitors of Disposable Needle Guides Market?

The key players of the disposable needle guides market are focusing on mergers and collaborations that are fueling the sales of disposable needle guides. 

Key players in the disposable needle guides market include CIVCO Medical Solutions, Argon Medical Devices, Rocket Medical, BK Medical Holding Company, Inc., GE healthcare and PHILIPS

Recent Market Development:

• Rocket Medical, are focusing to develop a new and advanced version of disposable needle guides, which can be responsible for the high sales of disposable needle guides.
• ARGON Medical Devices has introduced its disposable needle guides that are supposed to be indulged into lorad stereo loc II. This also fuels the sales of disposable needle guides.

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