High Flow Needle Sets Market Size, Share & Trends Analysis Report By Volume (Less Than 10 ml, 10-100ml), By Material (Stainless Steel, Polycarbonate), By Type, By End-use, By Region, And Segment Forecasts, 2024 - 2030

High Flow Needle Sets Market Size, Share & Trends Analysis Report By Volume (Less Than 10 ml, 10-100ml), By Material (Stainless Steel, Polycarbonate), By Type, By End-use, By Region, And Segment Forecasts, 2024 - 2030

High Flow Needle Sets Market Growth & Trends

The global high flow needle sets market size is expected to reach USD 1.56 billion by 2030, growing at a CAGR of 6.36% from 2023 to 2030, based on a new report by Grand View Research, Inc. The increasing prevalence of chronic diseases worldwide plays a pivotal role in the market's expansion. Chronic conditions such as cancer, diabetes, and cardiovascular diseases continue to affect a growing population, necessitating effective and efficient methods of drug administration. High-flow needle sets have emerged as a crucial solution, enabling faster and more comfortable medication delivery. According to the National Association of Chronic Disease Directory 2022 data, nearly 60% of adult Americans have at least one chronic disease, with chronic conditions like diabetes, cancer, and cardiovascular disease being the leading causes of death in the U.S.

Moreover, the market is influenced by the trends associated with the aging population and the shift toward home healthcare. According to the WHO 2022 report, the number of individuals aged 80 years or older is projected to triple from 2020 to 2050, reaching a staggering 426 million. There is a growing demand for healthcare solutions that cater to this demographic. High flow needle sets play a pivotal role in addressing the needs of elderly patients who often require regular medication administration. The convenience and comfort offered by these needle sets are crucial in facilitating home healthcare, allowing seniors to receive necessary treatments in the comfort of their residences. This demographic shift towards an older population, coupled with a rising preference for home-based care, is expected to be a key driver propelling the market growth.

Several key players are undertaking various initiatives such as acquisitions, product launches, and partnerships to strengthen their market positions. This strategy enables companies to increase their capabilities, improve their competencies, and expand their product portfolios. By doing so, companies can drive innovation and stay flexible, and quickly respond to the ever-changing needs of the high flow needle sets, ultimately playing a significant role in its growth. KORU Medical Systems is one of the companies that provide top-notch products in this market. They offer HIgH-Flo subcutaneous sets that are precisely designed and tested for equal flow to every needle.

High Flow Needle Sets Market Report Highlights

• Based on volume, the 10-100ml segment dominated the market in 2023 with the largest revenue share of 49.81% owing to its versatile utility in a wide range of medical procedures
• Based on type, the 24-gauge needle sets segment dominated the market in 2023 with the largest market share of 48.37% owing to the rising usage of such needles for fluid administration, blood transfusions, and medication delivery in both routine and critical care settings
• Based on material, the stainless-steel segment dominated the market in 2023 with the largest market share of 71.81% as stainless steel is considered a popular material choice for high flow needles
• Based on end-use, the hospitals segment dominated the market in 2023 with the largest market share of 43.04% owing to the rising number of surgical procedures performed in healthcare settings
• The North America region held the largest share in 2023 due to its well-developed healthcare infrastructure, rising incidence of chronic disease, and continuous innovation in medical technology
• Market players adopt several strategic initiatives to increase the product reach and improve product availability in diverse geographic areas.

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