VENIPUNCTURE NEEDLE AND SYRINGES MARKET ANALYSIS

Venipuncture is a perforation on a vein as part of a medical practice, basically to draw a blood sample and or to inject a drug into the body. This is done by intravenous cannulation. The venipuncture blood collection is carried out with the help of needle and syringes. Venipuncture is the oldest invasive procedures, which is carried out for five basic reasons and they are to collect blood for investigative purposes, identify the levels of blood components, and administer medications, nutrition, or chemotherapy, to eliminate blood due high presence of iron or erythrocytes and to collect blood which might be useful later in transfusion purpose. This can be possibly done with the use of venipuncture needle and with the immense increase in the blood test and blood collection, there is a proportional increase in the venipuncture needle and syringe market.

Excessive blood withdrawn may lead to hematocrit in older patients

According to Van Roekel, CEO Nuno Valentine, said that there are about half of doctors do not have sufficient funds to support a phlebotomist, and some are located in an area where there are no staff sufficient members. Mr. Kapadia, a chief medical officer of Iggbo, explains that bloodwork justifies about 75% if the medical decision. According to Van Roekel, there are 1 billion blood sample are drawn in the United States every year and out of which 50,000 blood draws in Houston daily. There are many literature stating that the excessive blood drawing from an individual causes a big setback in elderly person. A cohort study report states that public hospitals and university hospitals drew more blood for each test than that is followed in children's hospitals. For the basic metabolic tests, the volume of blood drawn by an university or public hospital laboratory was 2.5 to 10 times more required by any children's hospital, though there are similar tests and instruments used. Excess withdrawn of blood may lead to change in hematocrit which may lead to a down fall in elderly patient health. This is a major concern in the increasing number of older persons.

Median Cubital Vein to dominate the venipuncture needle and syringes market globally

The global venipuncture needle and syringes market is segmented on the basis of vein type, end user, and geography. On the basis of vein type, the market is divided into Cephalic Vein, Median Cubital Vein, and Basilic Vein. On the basis of end user, the market is divided into Hospitals, Diagnostic Labs and Physicians’ Offices.

Advanced syringe and methods to collect the blood sample to overtake the conventional way of blood collection emphasizing the growth in venipuncture needle and syringes market

Regional segmentation of the market by Coherent Market Insights comprises North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America accounts for the largest share in venipuncture needle and syringes market, mainly due to presence of key players and their application of advanced medical technologies to develop in countries such as the North America and Africa. Increase in the diagnostic test for any disease needs blood sample which therefore is useful to obtain results. Therefore, the use of venipuncture needles and syringes are proportionally increasing. In Africa according to World Health Organization, it is almost 85% of all the chronic disease needs blood test.

Key players in the global venipuncture needle and syringes market are developing new devices, which collect the required amount of blood

Key players operating the venipuncture needle and venipuncture syringes market include Smiths Medical, Becton, Dickinson and Company, and B. Braun Medical. Key players in the market globally are constantly working towards introducing innovative products which firstly identify veins and collect blood sample. With companies actively focused on research and development, a new product which is virtually painless way to draw blood. This company is expected to launch its product in mid-2017 as the company has responded to its pending queries from FDA.

Key Developments

1. Major companies in the market are focused on various business strategies such as gaining product approval from regulatory authorities, in order to expand their product portfolio and gain competitive edge in the market. For instance, in January 2019, Becton, Dickson and Company, a medical technology company, received the U.S. Food and Drug Administration 510(k) clearance for its second generation BD Nano pend needle, which is designed for reliable subcutaneous injection depth.
2. Major companies in the market are focused on various business strategies such as gaining product approval from regulatory authorities, in order to expand their product portfolio. For instance, in April 2019, B. Braun, a Germany-based pharmaceutical company, launched its Heparin Sodium Incretion, which is a prefilled syringe for subcutaneous and intravenous use.