The global market for high flow needle sets was valued at US$ 12.5 Billion in 2021, and is likely to be valued at US$ 14 Billion in 2022, reflecting a Y-o-Y growth rate of 12%. By 2032, the industry is expected to reach nearly US$ 40 Billion, experiencing a CAGR worth 11.1% during the upcoming decade.
Estimated Base Year Value (2021)
US$ 12.5 Billion
Projected Market Value (2022)
US$ 14 Billion
Expected Forecast Value (2032)
US$ 40 Billion
Growth Rate (2022-2032)
11.1% CAGR
High flow needle sets are intended to keep users safe and comfortable. When administering viscous drugs into the body, a high flow needle is used. High flow needles allow for faster drug insertion and smothering. In comparison to traditional needles, this reduces pain and provides more comfort. The proper tubing length and smaller gauge are designed to minimize the residual volume in the needle, resulting in less drug loss and lower costs.
Additional advantages of high flow needle sets include less site reaction, less pain and tissue damage, less inflammation, and less leakage. The most recent high-flow needle sets are made up of a cap, a closure, and wings. Normally, high flow needle sets are used for animals, but advances in pump technology have allowed high flow needle sets to enter diabetic treatment. High-flow needle sets are now preferred by diabetics.
Which are Some Prominent Drivers Spearheading High Flow Needle Sets Market Growth?
High-flow needle sets help to reduce swelling and oozing at the infusion site, making them more user-friendly; this factor is expected to drive the high-flow needle sets market in the future. Flexible flying hinges and butterfly-shaped wings are designed to fit the patient's body, making them comfortable to use; this also contributes to high flow needle sets being the first choice for the patient; this factor is expected to fuel the high flow needle sets market in the coming years. The introduction of novel drug delivery systems, particularly in the case of parenteral drugs, may help to boost the market for high flow needle sets.
Because of the variable needle size available, 26 gauge needle sets generate more revenue in the high flow needle sets market than 24 gauge needle sets, which can cover a wider range of users. Because 10-100 ml volume capacity covers the broad range of injectable volume, this segment can share more revenues than the other volume ranges in the high flow needle sets market. Reusable high-flow needle sets can contribute a larger market share than disposable needle sets due to cost savings and the ability to maintain environmental balance.
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What are the Challenges Faced by the High Flow Needle Sets Industry?
A growing number of diabetic patients worldwide is expected to increase demand for high flow needle sets during the forecast period. Furthermore, a lack of adaptation of high flow needle sets, as well as underdeveloped diagnostic centers and hospitals, may stymie the growth of the high flow needle sets market.
How is North America Contributing to Growth of the High Flow Needle Sets Market?
North America is the most profitable regional presence for the high flow needle sets market, followed by Europe. North America contributes to being the highest revenue-generating segment due to the presence of a large number of research and development centers and medical device companies.
North America and Europe account for a significant revenue share in the market for high flow needle sets due to the high prevalence rate of internal body organ surgeries and diabetes patients in these regions.
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Why is Asia-Pacific Emerging as an Opportunistic High Flow Needle Sets Market?
Over the forecast period, Asia-Pacific is expected to grow the fastest. High economic development in countries such as India, China, and Indonesia, among others, is a major factor driving up spending on healthcare infrastructure and medical services.
This region is emerging as a key medical tourism destination, with the government and the private sector investing significant resources to meet the service quality standards adopted in western regions. Furthermore, an increasing patient pool suffering from chronic diseases is driving up demand for high flow needles in the region.
Market Competition
The global market is extremely competitive. High flow needles with improved drug delivery are being developed by research institutes and medical device manufacturers. The companies' key strategies for increasing their market share include investing in the development of high flow needle sets with fewer adverse effects and improving geographic penetration through partnerships and collaborations.
Major players include companies such as RMS Medical Products, Medline Industries, Inc., MEDIWIDE, Norfolk Medical, Braun Medical Inc., GEORGE PHILIPS MEDICAL ENGINEERING Pvt. Ltd., Thermo Fisher Scientific, Smiths Group Plc, IMD and AmDel among others.
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Report Scope
Report Attribute
Details
Growth Rate
CAGR of 11.1% until 2032
Base Year for Estimation
2021
Historical Data
2015-2020
Forecast Period
2022-2032
Quantitative Units
Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032
Report Coverage
Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis
Segments Covered
Product Type
Volume/Capacity
Material Type
Usage
End User
Region
Regions Covered
North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East and Africa
Key Countries Profiled
U.S
Canada
Brazil
Mexico
Germany
U.K
France
Spain
Italy
Russia
Japan
South Korea
Australia & New Zealand
China
GCC
South Africa
Key Segments Covered in the High Flow Needle Sets Industry Report
Product Type:
26 Gauge High Flow Needle Sets
24 Gauge High Flow Needle Sets
Volume/Capacity:
High Flow Needle Sets <10ml
High Flow Needle Sets between 10-100ml
High Flow Needle Sets >100ml
Material Type:
Stainless Steel High Flow Needle Sets
Polycarbonate High Flow Needle Sets
Usage:
Disposable High Flow Needle Sets
Reusable High Flow Needle Sets
End User:
High Flow Needle Sets for Hospitals
High Flow Needle Sets for Clinics
High Flow Needle Sets for Ambulatory surgical centers
High Flow Needle Sets for Diagnostic Centers
Region:
North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East and Africa
Frequently Asked Questions
What is the anticipated growth of the high flow needle sets market until 2032?
FMI projects the global high flow needle sets market to expand at an 11.1% value CAGR by 2032
Which region is forecast to be the most lucrative for high flow needle sets market growth?
North America is expected to be the most opportunistic High Flow Needle Sets market.
Which are some prominent high flow needle sets manufacturers?
RMS Medical Products, Medline Industries Inc. and MEDIWIRE are some prominent high flow needle sets manufacturers
