Pune, India, March 2023, MRFR Press Release/Market Research Future has published a Half- Cooked Research Report on the Spinal Needle Market.The increasing prevalence of spinal stenosis and neurological disorders is anticipated to fuel the growth of the global spinal needle market at a CAGR of 10.37% during the forecast period of 2022 to 2030.
Spinal Needle Market Highlights
Market Research Future (MRFR) has published a cooked research report on the Global Spinal Needle Market that contains information from 2022 to 2030. The spinal needle market is expected to register a CAGR of 10.37% during the forecast period 2022-2030, to reach USD 0.44 billion by 2030.
Spinal needles are used for lumbar puncture for spinal anesthesia as well as diagnostic puncture of the spinal canal. This is done by placing the needle between two bones in the spine and into the subarachnoid space (the fluid-filled space between the thin layers of tissue around the spinal cord). The growth of global spinal needle is driven by the rising geriatric population prone to spinal disorders are also expected to boost the market growth. However, the side effects and complications associated with spine surgery needles likely to restrain the market growth.
Segment Analysis
The global spinal needle market is segmented into type, application, end user, and region. The Type segment is further segmented into pencil-point needles, directional spinal needles, and. The application segment is further segmented into therapeutic, and diagnostic. The end-user segment is further segmented into hospitals & clinics, diagnostic centers, research laboratories, and others.
Regional Analysis
The global spinal needle market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East and Africa.
The Americas dominated the global spinal needle market by accounting for the largest share in 2021. rising number of patients suffering from spinal disorders. The region comprises a large number of patients suffering from degenerative neurological disorders such as cervical spondylosis, which include exposure to significant spinal trauma, a congenitally narrow vertebral canal, dystonic cerebral palsy, and specific athletic activities. Cancer affecting the brain and vertebrae also increases the number of patients needing diagnostic services such as lumbar punctures. In 2021, an estimated 24,530 new cancers of the brain or spinal cord will be diagnosed in the US, according to the American Cancer Society.
Browse In-depth Market Details [Table of Content, List of Figures, List of Tables] of Spinal Needle Market Research Report
Europe holds a healthy share of the global spinal needle market. It is the second-largest market after the Americas due to the increasing older population and rising patient population. Additionally, improving government initiatives and increasing healthcare reforms, and rising demand for technologically innovative treatment drive the growth of the spinal needles market in Europe. Moreover the aging process is coupled with neurodegenerative disorders and needed routine checkups for understanding the severity of pain also fuel the growth of spinal needle market. For instance, Eurostat estimated that the population of older people (aged 65 years or more) in the EU-27 would increase significantly, rising from 90.5 million at the start of 2019 to reach 129.8 million by 2050.
Asia-Pacific is expected to have a promising growth rate during the forecast period, owing to the, rising number of universities sponsoring clinical trials, increasing healthcare spending, multinational companies moving toward the developing nations, and setting operational set-ups are likely to drive the growth of the market. For instance, Aga Khan University, Pakistan; Indonesia University, Jakarta; Seoul National University Hospital, Korea; Tribhuvan University Teaching Hospital, Nepal; Far Eastern Memorial Hospital, Taiwan, and other entities have initiated either observational or interventional studies related to lumbar puncture after 2018.
The Middle East & Africa region would depict the least growth in the market due to some major factors, such as underdeveloped regulations and lower adoption rates. The region is expected to witness growth due to increasing healthcare infrastructure and healthcare expenditure. Moreover, an increasing number of research institutes and universities conducting research for better treatment options is expected to propel the growth of this region. Additionally, the presence of hospitals catering diagnostic and treatment facilities coupled with healthcare suppliers is expected to increase the share of this region in the spinal needles market. For instance, HJ Hospitals (DR Congo), well equipped with a state-of-the-art diagnostic center since 2016, provides an exhaustive test list of more than 2,000 tests. HJ Pharma (DR Congo) distributes spinal needles manufactured by Becton, Dickinson and Company (US) in DR Congo and Central Africa.
MRFR recognizes the following companies as the key players in the global spinal needle market— B. Braun Melsungen AG (US), Stryker Corporation (US), Boston Scientific Corporation (US), Becton, Dickinson, and Company (US), Smith’s Medical (US), Myco Medical (US), Argon Medical (US), Exelint International, Co. (US).
Key Findings of the Study
- The global spinal needle market is estimated to reach USD 0.44 billion by 2030 at a CAGR of 10.37% during the assessment period of 2022 to 2030.
- Americas is expected to hold the largest share of the global spinal needle market. The rising number of patients suffering from spinal disorders. The region comprises a large number of patients suffering from degenerative neurological disorders such as cervical spondylosis, which include exposure to significant spinal trauma, a congenitally narrow vertebral canal, dystonic cerebral palsy, and specific athletic activities. Cancer affecting the brain and vertebrae also increases the number of patients needing diagnostic services such as lumbar punctures.
- Based on type, the pencil-point needles segment accounted for the largest market share of 44.6% in 2021.
- By application, the therapeutic segment held the largest share and is projected to be the fastest-growing segment during the forecast period.
- By end user, the hospitals & clinics segment held the largest share of over 40% and is projected to be the fastest-growing segment during the forecast period.
- Some key players operating in the spinal needle market are Braun Melsungen AG (US), Stryker Corporation (US), Boston Scientific Corporation (US), Becton, Dickinson, and Company (US), Smith’s Medical (US), Myco Medical (US), Argon Medical (US), Exelint International, Co. (US).
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Base Year | 2023 |
Companies Covered | 15 |
Pages | 80 |
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