Huber Needles Market Trends

Growth Drivers

• Rising Prevalence of Needle Stick Injuries in Healthcare Workers – Needle stick injuries are injuries caused by needles that pierce the skin by accident. Needle stick injuries are a risk for everyone who works with intravenous syringes or other needle-related equipment. These injuries most commonly occur when persons, such as nursing students, use, dismantle, or discard of needles. Therefore, surging cases of needle stick injuries in healthcare workers are lifting up the huber needles market growth. For instance, presently, in the United States alone, over 5 million healthcare professionals are at risk of exposure to blood borne infections caused by needle stick or other sharp objects injuries.
• Global Surge in HIV Prevalence – According to the World Health Organization data, an anticipated 1.5 million (UI 1.0 to 2.0 million) people were infected with HIV for the first time. This carried the worldwide HIV population to 38.4 million people by 2021.
• Worldwide Growing Occurrence of Cancer - According to World Health Organization (WHO) figures, approximately 10 million people died from cancer worldwide in 2020.
• Increasing Ratio of Obesity in People Across the Globe – For instance, more than 2 billion people globally, including 700 million adults, 380 million teenagers, and 45 million children, are affected by obesity.
• Worldwide Spike in Healthcare Expenditure - According to the World Bank statistics, worldwide healthcare expenditure accelerated by 9.83% in 2019.

Challenges

• High Cost Associated with The Manufacturing of Huber Needle Product
• Lack of Technological Advancement
• High Risk of Contamination