Huber Needles Market to Surpass US$ 66.1 Million by 2027- CMI

Huber needles are available in two different types, namely straight Huber needles and curved Huber needles. Curved Huber needles have 90 degree angle, which are used in long term access; however, straight Huber needles are used for short access. These needles are used for different application such as dialysis, chemotherapy, blood transfusion, and others. Huber needles are effective alternatives to other infusion delivery systems.

Statistics:

The global Huber needles market is estimated to account for US$ 66.1 Mn in terms of value and 51,270,030 Units in terms of volume by the end of 2027.

Global Huber Needles Market: Drivers

Stringent government regulations regarding use of safety needles to avoid hospital-acquired diseases such as HIV, Hepatitis C, and Hepatitis B are expected to propel growth of the global Huber needles market over the forecast period. For instance, the Needlestick Safety and Prevention Act was passed in the U.S. in 2000. The act focuses on providing nurses or medical staff with information related to additional protection while using needles, in order to reduce occupational exposure to blood borne pathogens.

Global Huber Needles Market: Restraints

Product recalls due to technical issues with Huber needles are expected to hinder growth of the global Huber needles market. Various medical grade materials are used to manufacture Huber needle and safety products. In the recent past, use of Huber needles was believed to lead possible risk of silicon contamination. Thus, companies had to recall their products in bulk in order to reduce further risk of contamination.

Key Takeaways:

The Curved Huber Needles segment in the global Huber needles market was valued at US$ 32.3 Mn in 2019 and is expected to reach US$ 53.4 Mn by 2027 at a CAGR of 6.5% during the forecast period. Increasing incidence and prevalence cancer is expected to boost growth of the segment during the forecast period.

The IV Cancer Application segment held dominant position in the global Huber needles market in 2019, accounting for 41.7% share in terms of value, followed by dialysis, respectively. The growth of the segment is attributed to increasing demand for Huber needles and increasing adoption of expansion strategies from manufacturers operating in the market to increase product portfolio and geographical positioning.

Market Trends

Increasing prevalence of end-stage renal disease is expected to boost growth of the global Huber needles market. For instance, according to November 2019 data of National Center for Biotechnology Information, the prevalence of end-stage renal disease is rising at a stable number of about 20,000 cases per year.

Major players in the market are focused on adopting various marketing strategies to expand their customer base. For instance, in February 2020, Baxter International Inc. presented at the 9th Annual SVB Leerink Global Healthcare Conference in New York, N.Y.

Regulations

Europe

European Union (EU) mandates the design and quality assurance test in order to maintain the safety guideline
EU categorized Huber needle under Class III device, which requires EC verification and quality assurance for marketing and commercialization

Global Huber Needles Market: Competitive Landscape

Major players operating in the global Huber Needles market include, Baxter International Inc., B. Braun Medical Inc., Smiths Medical, NIPRO Medical Corporation, AngioDynamics, Inc., and C. R. Bard, Inc.

Global Huber Needles Market: Key Developments

Major players in the market are focused on adopting M&A strategies to expand their product portfolio. For instance, in March 2018, Smiths Medical launched a new distribution model for non-hospital-based infusion customers that simplifies the way providers order, receive and deliver care with CADD infusion therapy products.

Segmentation

Scope of the report