Carbide Tipped Needle Holders Market Size, Share, Growth, and Industry Growth by Type (7'')By Application (Dental, Surgical, Veterinary and Other) Regional Forecast By 2031

Carbide Tipped Needle Holders Market Report Overview

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The global carbide tipped needle holders market size is expected to be USD 26.73 million in 2022 & the market is projected to touch USD 107.16 million by 2031, exhibiting a CAGR of 14.54% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with carbide tipped needle holders experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Medical devices that retain surgical needles during surgery are carbide-tipped needle holders. These are made to contain tiny carbide needles of the appropriate size for stitching in surgical operations. The hemostat clamps or artery forceps used in surgical procedures to stop bleeding have a similar design to carbide-tipped needle holders.

With a jaw, rings, and hinges like regular scissors, these carbide-tipped needle holders are easily confused with such tools. The corrosion resistance, strength, and abrasion-resistant jaws of carbide needle holders are only a few of its features. Jaw inserts with a bonded metal covering that contains tungsten carbide particles have been added in recent needle holder design advancements. These jaws offer a firm hold on the surgical needle while ostensibly reducing the chance of harming it.

It is projected that the market would grow as a result of the growing number of surgeries caused by unhealthy lifestyles and the rising level of living. Surgery is frequently needed for the treatment of chronic disorders. The market for needle holders with carbide tips is growing quickly due to the rising frequency of chronic conditions including cardiovascular and neurological problems.

COVID-19 Impact: Lockdown Scenario Affected the Market Negatively

Covid badly affected the carbide tipped needle holders market due to supply chain disruptions and shortage in raw materials was also observed. Shortage of labor and strict protocols such as lockdowns and restrictions on movement created roadblocks, disruptions in end-use sectors of the product led to lower demand.

LATEST TRENDS

"Technological Improvements to Boost the Market"

Market growth is predicted to be accelerated by an increase in minimally invasive operations performed globally. For patients with these conditions, surgery is often the first course of therapy. As a result, more surgical operations are performed, which increases the need for equipment with a carbide tip in the medical industry. High demand for wound closure treatments and technological improvements that result in widespread use of surgical needle holders are further factors driving the global market for carbide- tipped needle holders. Due to this, markets will expand globally.

Carbide Tipped Needle Holders Market Segmentation

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• By Type Analysis

By type, market is segmented into <5", 5-7", >7". The <5” segment will dominate the market in the coming years.

• By Application Analysis

Based on applications, the market is classified into dental, surgical, veterinary and other. The dental segment will lead the global share through 2031.

DRIVING FACTORS

"Increase in Number of Trauma Cases to Propel the Market Demand"

The expansion of the market for carbide-tipped needle holders is anticipated to be fueled by an increase in the number of trauma cases and accident injuries as well as surgical operations carried out all over the world. For instance, a World Bank research states that millions of people die in automobile accidents each year and millions more suffer injuries. Additionally, these numbers will increase throughout the upcoming projected period. In middle- and low-income nations, the anticipated estimates have a more significant impact.

"Use in Routine Surgeries to Augment the Market Demands "

In addition to being utilized in complicated surgical procedures, carbide-tipped needle holders are also employed in trauma surgical procedures that include the application of sutures to reduce blood loss brought on by significant skin wounds created in the patient. Even in routine surgeries to perform sutures, these carbide-tipped needle holders are employed. According to research that was published in the Surgical Neurology International Journal, needle holders are crucial because they provide surgeons exceptional control when inserting tips into vascular lumens to apply counterpressure.

RESTRAINING FACTORS

"Shortage of Qualified Personnel to Impede the Market"

The market is anticipated to be hampered by expensive equipment and a shortage of qualified personnel. There are several limitations and difficulties that will prevent the market from growing as a whole. The market's potential is being constrained by issues including a shortage of qualified physicians and nurses as well as a lack of norms and procedures. Additionally, high instrument costs and restricted insurance coverage for surgical supplies are possible hindrances to the overall expansion of the worldwide carbide tipped needle holder market.

Carbide Tipped Needle Holders Market Regional Insights

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"North America to Hold the Largest Global Carbide Tipped Needle Holders Market Share"

Due to the rapid adoption of technologically sophisticated products and rising government spending on healthcare for both durable medical equipment and other non-durable medical goods in the area, North America now has a prominent position in the global market for carbide tipped needle holders. For instance, retail expenditure increased for various non-durable medical goods such surgical equipment and medical tools, according to the U.S. Centers for Medicare & Medicaid Services.

Due to the increasing number of trauma and injury cases in the region, the Asia Pacific market is also anticipated to rise significantly. For instance, the transport research division of the Indian Ministry of Road Transport & Highways indicated that a sizable number of traffic accidents occurred, resulting in the loss of life and serious injury.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

LIST OF TOP CARBIDE TIPPED NEEDLE HOLDERS COMPANIES

• Hu-Friedy (U.S.)
• August Reuchlen GmbH (Germany)
• Changsha Tiantian Dental Equipment (China)
• J&J Instruments (U.S.)
• B.Braun (Germany)
• Serrations (UK.)
• Stille (Sweden)
• LAWTON (China)
• Shanghai Medical Devices Group (China)
• Baxter (U.S.)
• Instrumed International (U.S.)
• QSA Surgical (Pakistan)
• MEDICON EG (Germany)
• Towne Brothers (Pakistan)
• Marina Medical (U.S.)
• Beck Instruments (U.S.)

REPORT COVERAGE

The market research study examines the worldwide market in detail, focusing on important elements such as leading players, product/services or type, and leading end-use applications. Aside from that, the research analyses major advancements and provides insights into lighting market trends. In addition to the causes indicated above, the paper includes a number of other factors that have contributed to recent growth.