Global Spinal Needles Market Overview
A spinal needle is a medical device used for various diagnostic and therapeutic purposes. A spinal needle is inserted in the spinal canal to collect cerebrospinal fluid (CSF) for diagnostic testing or drug administration to treat different diseases. This CSF sample collected is mainly used to diagnose brain or spine related diseases and disorders.
As per the latest MRFR analysis, the global spinal needles market is likely to expand at a 6.8% CAGR through the forecast period of 2017-2025. Although various factors are influencing a positive ascension in the spinal needles market, one of the leading factors is the increasing prevalence of different brain and spinal diseases. Further, a rising incidence of neurological disorders, general population, and a burgeoning number of patients diagnosed with degenerative brain diseases such as Alzheimer’s and Parkinson’s disease are some other significant factors causative of market augmentation.
Moreover, technological advancements in medical devices and the availability of improved surgical processes, the market is anticipated to showcase rigorous growth. Reduction in complications from the use of spinal needles in spine related surgeries, the market is expected to grow at a high rate. Additionally, the products have evolved towards being more qualitative, promoting easier adoption and switch to spinal needles, hence, driving the market exponentially. A prominent rise in expansion activities taken up by many international market vendors is influencing many end-users to adopt high use of spinal needles, increasing the growth pace of the spinal needles market during the forecast period.
Market Segmentation
The global spinal needles market is studied for various segments based on type, size, application, end-users, and region. The global spinal needles market is segmented into directional spinal needles, traumatic needle tips, and pencil-point needles, on the basis of type. Based on size, the spinal needles market is segmented into 24G, 25G, and 27G. Based on application, the spinal needles market is bifurcated into diagnostic and therapeutic. On the basis of end-users, the spinal needles market is segmented into hospitals and clinics.
Detailed Regional Analysis
The global spinal needles market is regionally segmented into the Americas, Europe, Asia Pacific, and the Middle East & Africa. Among these regions, the Americas are estimated to spearhead the global spinal needles market during the assessment period. Such market domination can be accredited to an increasing number of spinal surgeries in the region. Further, the growing prevalence of numerous neurological disorders is also projected to showcase market growth in the region. An increase in the awareness of such diseases among people residing in the region is promoting healthy growth in the global spinal needles market.
Europe is also expected to showcase a healthy growth rate through the review period. One of the factors pushing the spinal needles market is the presence of a well-developed healthcare sector in the region. Increasing healthcare expenditure is another factor causative of an ascending graph on the growth chart for spinal needles in the region. Rising prevalence of diseases is also promoting substantial growth in the spinal needles market, enabling Europe to capture the second largest market share during the forecast period.
Asia Pacific is estimated to grow at the fastest pace during the conjectured timeline, as per the latest MRFR report. A presence of a huge patient population suffering from different neurological disorders and diseases is one of the prime factors driving the regional spinal needles market.
Key Players
The global spinal needles market is projected to be influenced by many expansion strategies undertaken by many market giants during the forecast period. Some of these principal players in the market are profiled by Market Research Future (MRFR) in their latest report, including, Smiths Medical (US), Medline Industries (US), Boston Scientific (US), Halyard Health (US), MYCO Medical (US), Sarstedt (UK), B. Braun (Germany), BD (US), Exel International (US), Argon Medical Devices, Inc (Netherland), Wallach Surgical (US), Novo Nordisk (Denmark), Stryker Corporation (US), Medtronic (UK), and Cook Medical (US).
Industry Update
June 2019: Boston Scientific closed its acquisition of Vertiflex, Inc. on 11th June 2019. Vertiflex is a privately held company that developed the Superion Indirect Decompression System. It is a minimally invasive device used to relieve pain in the lumbar spinal stenosis (LSS).
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