Market Size of Venipuncture Needles and Syringes Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.60 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Venipuncture Needles & Syringes Market Analysis
The major factor attributing to the growth of the market is the rising diagnostics and screening tests of diseases like anemia, leukemia, etc., which involves the collection of blood.
As per GLOBOCAN, the number of leukemia cases in the year 2018 was estimated to be 437,033. As the incidence of such diseases increases the usage of the needles and syringes increases and thus the market is expected to grow in the coming years. Furthermore, the growing preference for disposable products for blood drawing and increasing awareness of blood donation and are a few other major factors for market growth. Rising investments in the surgical instruments by the hospitals is boosting the market. However, the lack of skilled labor is the major drawback of market growth.
