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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. Speak directly to the analyst to clarify any post sales queries you may have.
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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.
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.
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
- Conventional
- Safety
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
- Diagnostic
- Therapeutics
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, the publisher offers customizations according to a company’s specific needs.This product will be delivered within 1-3 business days.
Table of Contents
1. Product Overview
2. Research Methodology
3. Executive Summary
5. Turkey Needle Market Outlook
6. Turkey Conventional Needles Market Outlook
7. Turkey Safety Needles Market Outlook
8. Market Dynamics
13. Competitive Landscape
Companies Mentioned
- Terumo BCT Turkey
- Becton, Dickinson, and Company
- Matek Medikal
- Johnson & Johnson Türkiye
- Boston Scientific Türkiye
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 74 |
Published | August 2023 |
Forecast Period | 2022 - 2028 |
Estimated Market Value ( USD | $ 156.72 Million |
Forecasted Market Value ( USD | $ 221.89 Million |
Compound Annual Growth Rate | 5.8% |
Regions Covered | Turkey |
No. of Companies Mentioned | 5 |