|
Forecast Period
|
2024-2028
|
|
Market Size
(2022)
|
USD 156.72
million
|
|
CAGR
(2023-2028)
|
5.89%
|
|
Fastest Growing
Segment
|
Hospitals &
Clinics
|
|
Largest Market
|
Marmara Region
|
Turkey
Needle Market is expected to grow at an impressive rate during the forecast
period 2024-2028. The major factors include rising geriatric population,
increasing demand for vaccines to cope up with diseases, and rapid
technological advancements in needle drug delivery systems.
Moreover, the
recent outburst of new virus and lifestyle diseases has influenced the demand
of needle is giving rise to several health issues along with the rising
prevalence of diabetes mellitus and is expected to drive the growth of Turkey
Needle Market in the forecast years 2024-2028.
Additionally,
increasing geriatric population base and the increasing number of insulin requirements
are other major factors accelerating the market growth and improving the health
care infrastructure and facilities. For instance, according to
Turkish Statistical Institute (TurkStat) estimation, in 2021, Turkey's gross
domestic product have spent more than USD802.7 billion on research and
development, that shows an increase of 42.8%.
Furthermore,
the growth of the Turkey needle market can be estimated with the increasing use
of needles in syringes as drug delivery device, for majority of the drugs,
rising population growth, government initiatives to improve healthcare
access, and technological advancements in the healthcare industry.
Additionally, the self-administration of drugs is anticipated to add to the
growth of the market in the forecast period.
The
market is highly competitive, with players focusing on product innovation and
strategic partnerships to gain a competitive edge. As the healthcare industry
continues to evolve and grow in Turkey, the demand for syringes is expected to
continue to increase in the coming years. The Turkey needle market is
highly competitive, with both local and international players operating in the
market. Some of the major players in the market include B. Braun Melsungen AG,
Nipro Medical Corporation, and Terumo Corporation. These companies are focusing
on product innovation, strategic partnerships, and mergers and acquisitions to
strengthen their position in the market and leads to the growth of Turkey
Needle Market.
Rising
Prevalence of Chronic Diseases
The
prevalence in number of chronic diseases like ischemic heart stroke, diabetes,
COPD, cancer caused due to tobacco consumption, physical inactivity, raised
cholesterol, unhealthy diet, etc. resulting in health issues, give rise to the
growth of Turkey needle market. According to the latest WHO data published
in 2020, Diabetes Mellitus Deaths in Turkey reached 17,900 or 4.60% of total
deaths. The age adjusted Death Rate is 20.07 per 100,000 of population in the
world. Moreover, heart stroke cases are also rising in the
country. For instance, according to the latest WHO data published in
2020, Stroke Deaths in Turkey reached 44,006 or 11.31% of total deaths. Additionally,
the cardiovascular problem in Turkey also accounts for the rising chronic
diseases. For instance, according to the latest WHO data published in
2020, Coronary Heart Disease Deaths in Turkey reached 85,905 or 22.08% of total
deaths. Thus, these factors support the growth of Turkey Needle
Market.
Several
infectious diseases such as HIV/AIDS, hepatitis B and Hepatitis C, etc. are
spread through transmission via the use of contaminated or infected needle.
These infectious chronic diseases are transmitted often in patients who are
frequent drug abusers (sharing needles for intake of drugs) and unaware patients
(who are subjected to used/contaminated needles during their exposure in the
hospitals or clinics, thereby increasing the risk of getting transmitted by the
virus or other diseases. The number of new cases of HIV diagnosed in Turkey
generally increased from 2009 to 2021. For instance, in 2021, Turkey
was diagnosed with over 2.9 thousand new HIV cases. Although, according to a
report by Positive Living Association, the average HIV incidence cases has been
reduced globally, the new incident cases have been increased in Turkey from 0.7
per 100000 population in 2009, to 3.9 per 100000 population in 2019.
Growing
Immunization and Vaccination Amongst Public
Due
to growing demand for immunization and growing number of mass vaccination
across the country, the demand for needle has also increased across the
country. These disposable needles ensure the safe immunization and safety from
infections, and thereby, are high in demand in the turkey needle market and is
further anticipated to propel market growth in the forecast period. The recent
outburst of COVID-19 participated in improving the growth of the needle market
in the country. For instance, According to Ministry of Health figures,
as of 17 July 2021, out of 83 million people, 62,941,386 persons had been vaccinated
in Turkey. Therefore, the higher demand of needle is anticipated to
propel the growth of Turkey Needle Market.
Rising
Demand of Infusion Therapy
Infusion
therapy involves the administration of medications intravenously and
subcutaneously through needle in syringes. Additionally, it reduces
inflammation and treat chronic flare-ups associated with other autoimmune
inflammatory conditions or very severe conditions that are not effectively
treated through oral medications. Few drugs can’t be taken orally as they loose
effectiveness as they get exposed to the digestive system of our body. Infusion
therapy involves the administration of medicine, blood, and fluid, directly
into the blood, thereby making the treatment fast & efficient. Due to
rising chronic disease prevalence and rising infusion therapy demand, Turkey's
needle market is expected to develop at a faster rate during the forecasted
years. Moreover, recently, companies started using the technique of
siliconization, providing a sharp and smooth needle in all syringes for maximum
patient comfort & minimum tissue trauma during usage.
Government
Initiatives
The
Turkish government has also implemented initiatives to improve healthcare
access and affordability, which is driving the demand for needles in the
country. In recent years, the government has focused on expanding healthcare
infrastructure and increasing healthcare spending, which has improved
healthcare access for many people in Turkey. This has led to an increase the
growth of Turkey Needle Market. According to National Institute of Health, the
Turkish healthcare system is financed by taxes (41%), insurance premiums (31%),
and out-of-pocket payments (28%), therefore the Turkish government issued green
cards to their citizens who cannot pay for health services and resolves their
health-related issues by providing healthcare expenditure.
In
addition to these factors, technological advancements in the healthcare
industry are also driving the Turkey needle market. The development of new and
innovative needles along with syringes, such as needle in safety syringes that
reduce the risk of needlestick injuries, thereby causes the growth of Turkey
Needle Market. Moreover, in 2003, the Ministry of Health in Turkey launched the
Health Transformation Program (HTP), a ten-year health reform with the main
goal to provide universal health coverage to all, especially the poor, amongst
strengthening primary care services and expanding hospital capacity to improve
health outcomes. Indeed, the percentage of the Turkish population covered by
government health insurance has increased over 28 percent since 2002 and
reached 98.5 percent by 2020.
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Market Segmentation
The Turkey Needle Market can be segmented by type, product, material, application, end user, company, and region. By type, the market can be segmented into conventional and safety. By product, the market can be segmented into pen, suture, blood collection, dental, ophthalmic, and others. Based on material, the market can be segmented into glass needles, plastic needles, stainless steel/ metallic needles, and others. Based on application, the market can be segmented into diagnostics and therapeutics. In terms of end user, the market can be segmented into hospitals & clinics, diagnostic centers, and others.
Market Players
Terumo BCT Turkey, Becton, Dickinson, and Company, Matek Medikal, Johnson & Johnson Türkiye, Boston Scientific Türkiye etc. are some of the leading companies operating in the market.
|
Attribute
|
Details
|
|
Base
Year
|
2022
|
|
Historic
Data
|
2018 – 2022
|
|
Estimated
Year
|
2023
|
|
Forecast
Period
|
2024 – 2028
|
|
Quantitative
Units
|
Revenue
in USD Million, Volume Units and CAGR for 2018-2022 and 2023-2028
|
|
Report
coverage
|
Revenue
forecast, Volume forecast company share, competitive landscape, growth
factors, and trends
|
|
Segments
covered
|
Type
Product
Material
Application
End
User
Region
Company
|
|
Regional
scope
|
Marmara
Region, Central Anatolia, Eastern Anatolia Region, South-Eastern Anatolia
R0065gion, Aegean Region, Mediterranean Region, Black Sea Region.
|
|
Key
companies profiled
|
Terumo
BCT Turkey, Becton, Dickinson, and Company, Matek Medikal, Johnson &
Johnson Türkiye, Boston Scientific Türkiye
|
|
Customization
scope
|
10% free
report customization with purchase. Addition or alteration to country,
regional & segment scope.
|
|
Pricing
and purchase options
|
Avail customized purchase options to meet your exact research
needs. Explore purchase options
|
|
Delivery
Format
|
PDF and Excel
through Email (We can also provide the editable version of the report in
PPT/Word format on special request)
|
Report
Scope:
In this report,
Turkey Needle Market has been segmented into following categories, in addition
to the industry trends which have also been detailed below:
- Turkey Needle Market, By Type
- Turkey Needle Market, By Product
- Pen
- Suture
- Blood Collection
- Dental
- Ophthalmic
- Others
- Turkey Needle Market, By Material
- Glass Needles
- Plastic Needles
- Stainless Steel/Metallic Needles
- Others
- Turkey Needle Market, By
Application
- Turkey Needle Market, By End User
- Hospitals & Clinics
- Diagnostic Centers
- Others
- Turkey Needle Market, By Region:
- Marmara Region
- Central Anatolia
- Eastern Anatolia Region
- South-Eastern Anatolia Region
- Aegean Region
- Mediterranean Region
- Black Sea Region
Competitive
Landscape
Company
Profiles: Detailed
analysis of the major companies present in Turkey Needle Market
Available
Customizations:
With the given
market data, TechSci Research offers customizations according to a company’s
specific needs. The following customization options are available for the
report:
Company
Information
Detailed
analysis and profiling of additional market players (up to five).
Turkey Needle Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]