Global Disposable Needle Guide Market Share Is Likely To Reach At A CAGR Value Of Around 3.55% By 2028

06-Oct-2022 | Facts and Factors

According to Facts and Factors, the global disposable needle guide market size was worth around USD 3.5 billion in 2021 and is predicted to grow to around USD 6 billion by 2028 with a compound annual growth rate (CAGR) of roughly 3.55% between 2022 and 2028.

Needle guides generally come in two forms, reusable and disposable, with the former being made of stainless steel carrying a certain weight to them, while disposable needle guides are made of medical-grade plastic and as the name suggests, disposable guides are only one-time use, unlike its counterpart. During any operation, a medical needle is one of the most commonly used tools and surgeons or medical practitioners have to be extremely careful while using the minuscule device to avoid any damage or impact on any other part of the patient's body than the intended one. Needle guides are used to fulfill this purpose. They help keep the needle in one place without deflecting from the predetermined path during the entire operation procedure, making the task of the nurses and doctors easier while also reducing patient discomfort. Disposable needle guides have applications in medical interventions including anesthesia, radiology, vascular access, pain management, and biopsy to name a few.

Browse the full “Disposable Needle Guide Market Size, Share, Growth Analysis Report By End-Users (Ambulatory Surgical Centers, Hospitals & Clinics, and Diagnostic Centers), By Application (Biopsy, Cardiology, Urology, and Gynecology), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/disposable-needle-guide-market

Covid-19 caused a massive increase in demand for disposable needle guides driven by two main factors. One is, the increased pressure on the healthcare sector owing to an exponential rise in patient influx during the pandemic, and the second is the effectiveness of the disposable needle guides to reduce any case of spreading the infection due to needle guides as they are one-time use only and could not be used on two different patients.

The global disposable needle guide market is projected to grow due to the cost-efficiency of the product over metal or steel-based reusable needle guides. As per official data, disposable needle guides cost around USD 13 on average, while the reusable counterpart costs over USD 1000, depending on factors like transducer model and gauge size. The metal needle guides have to be replaced every two years. Hence disposable needle guides become cost-efficient at least in medical units when calculating the average price of consumption. Other factors like difficulty in operating metal or steel needle guides due to various attached parts that have to be synchronized before using the device while disposable needles are as easy to use as the needle itself when handled by trained professionals. If disposable needle guides are ordered in bulk along with other associated equipment, the cost can be further reduced. The one-time use only device also offers time benefits as there is no requirement of disinfecting the needle guide except for the transducer which does not take more than 40 minutes, however, while using reusable guides, professionals recommend a gap of at latest 2 hours between two patients since the entire sterilization is a lengthy process. The global market cap is projected to benefit owing to the increased preference for devices that offer enhanced patient safety and hygiene which is one of the main traits of a disposable needle.

The creation of additional medical waste may restrict global market growth while emerging economies pose excellent growth opportunities. However, the main challenge the global market faces is the development of eco-friendly medical-grade plastic.

The global disposable needle guide market is segmented based on end-user, application, and region.

Based on end-users, the global market segments are ambulatory surgical centers, hospitals & clinics, and diagnostic centers. Although needle guides are used in hospitals, clinics, and diagnostics centers, the global market is led by the hospitals & clinics segment owing to the preference of patients to visit large medical facilities for operational procedures. For instance, needle guides have large applications in radiology operational procedures for the thyroid, liver, and breast, along with drainage-related medical processes for the lungs and abdomen. In the US, more than 1 million to 2 million women are known to have undergone breast augmentation as of 2022.

Based on application, the global market is divided into biopsy, cardiology, urology, and gynecology. The demand for disposable needle guides is the highest for the biopsy segment which is the process of removing a cell sample or a part of body tissue for further examination. As per a 2010 report published by the National Library of Medicine, more than 700,000 breast-related biopsies were conducted in the US every year.

North America is projected to witness the highest growth in the global disposable needle guide market owing to the increasing product innovation by manufacturers to deal with associated challenges along with the presence of multiple players with a global footprint and healthcare access to all. For instance, Argon Medical Devices, a leading US-based producer of medical equipment is projected to have generated between USD 100 to USD 500 in revenue in 2021. Growth in Asia-Pacific is anticipated to be associated with the growing population and medical cases along with increasing demand for quality and equal healthcare.

Report Scope

The global disposable needle guide market is driven by players including Rocket Medical, GE Healthcare, Argon Medical Devices, PHILIPS, BK Medical Holding Company, Inc., and CIVCO Medical Solutions.

Recent Developments:

• In November 2021, Argon Medical Devices launched two portal vein access sets deemed unique from the rest in the market
• In March 2022, Rocket Health raised USD 5 million to be diverted toward upgrading telemedicine across Africa

The global disposable needle guide market is segmented as follows:

By End-Users

• Ambulatory Surgical Centers
• Hospitals & Clinics
• Diagnostic Centers

By Application

• Biopsy
• Cardiology
• Urology
• Gynecology

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

About Us:

Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds. Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.

Contact Us:
Facts & Factors
A 2108, Sargam,
Nanded City,
Sinhagad Road,
Pune 411041, India
USA: +1 (347) 690-0211
Email: [email protected]
Web: https://www.fnfresearch.com