Amniocentesis Needle Market Prophesied to Grow at a Faster Pace by 2026
Growing at a sluggish CAGR (Compound Annual Growth Rate) of 2.4% between 2017 and 2026, the global amniocentesis needle market is set to generate a slew of growth opportunities for the market players.
Delineating Factors of Growth of Global Amniocentesis Needles Market
Used to withdraw amniotic fluid in order to check the health of fetus for infections and chromosomal abnormalities, amniocentesis needle market will see a modest growth in demand owing to a number of factors. Some of these include growing rate of pregnancy and a rising preference for procedures that minimally-invasive or noninvasive. Besides, amniocentesis has a good success rate, leading to higher popularity among medical circles, and expecting mothers.
Moreover, as more and more women are diagnosed with diabetes, even at an early stage, the need for the procedure only grows further. About 2% to 10% pregnancies witness incidence of gestation diabetes every year in the Unites States of America alone.
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This has the potential of building up amniotic fluid in excess of what is considered normal. High blood glucose levels in expecting mothers with diabetes can have negative impact on pregnancy – vaginal bleeding, amniotic fluid leak, and sometimes even miscarriage – and thus needs to be removed regularly.
It is pertinent to view the role played by advancement in technology in the overall growth of the global amniocentesis needle market. As the procedure gets more sophisticated and awareness regarding the same spreads across, demand for these needles will only go up, leading to notable contributions towards the trajectory taken up by the growth curve.
There is also greater focus toward research in terms of cytogenetic and biochemical studies. The money is pouring in from both private and public sector. Critical for well-being of pregnant women, these can help in bringing about positive outcomes in the future. Thus, these can lead to higher growth in the global amniocentesis needle market in times to come.
One of the factors that hampers the growth of the global amniocentesis market over the forecast period is that sometime fetal injuries happen, and this can shake patient faith in the procedure. Additionally, high cost of procedure deters some mothers from going forward with it. However, rising awareness levels and need to protect baby is driving the market forward in a major way. Besides, technology advancement is set to curb costs in the future.
The North America Dominance Marks Market Landscape
Over the forecast period, North America will hold the spotlight over itself, accounting for a major market share. The stellar performance will be an outcome of high level of technology adoption, high levels of investment in research and development, a mature healthcare system, and decent levels of spending capacity.
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However, players will also have their attention diverted towards the Asia Pacific (APAC) region, owing to a large number of women opting for motherhood, creating a large patient pool, and a massive rise in disposable income, a natural outcome of strong economic performance by the nations marking the regional landscape.
Competition Landscape – Fragmented, Highly Competitive
The global amniocentesis market would remain slightly fragmented and notable players in the market would be Medtronic Plc, Cook Medical Inc., Becton, Dickinson and Company, CooperSurgical Inc., Integra Lifesciences Holdings Corporation, Smiths Group Plc, Cardinal Health, Rocket Medical Plc, Tsunami Medical and LabIVF.