PUBLISHER: Grand View Research | PRODUCT CODE: 1571649
PUBLISHER: Grand View Research | PRODUCT CODE: 1571649
The Europe anesthesia needles and syringes market size is anticipated to reach USD 388.81 million by 2030 and is projected to grow at a CAGR of 16.5% during the forecast period, according to a new report by Grand View Research, Inc. The growing elderly population is anticipated to improve the demand for anesthetic needles and syringes. This is due to the higher prevalence of surgeries and medical procedures requiring anesthesia among older individuals. According to data published by the House of Commons in July 2024, around 19% of people in the UK were aged 65 or over in 2022, which is projected to rise to 27% by 2072.
The rising awareness among patients and stringent regulations around medical device safety and reimbursement policies encourage the adoption of advanced, safety-engineered needles and syringes, which enable market growth over the forecast period. The increasing need for regional anesthesia is expected to drive the demand for anesthesia syringes and needles in the coming decade. The use of regional anesthesia in surgeries is projected to rise substantially due to its various benefits compared to general anesthesia, such as lower cost, better environmental impact, and reduced incidence of vomiting & nausea. These benefits are anticipated to drive the demand for regional anesthesia.
The European healthcare infrastructure is rapidly growing with government investments and initiatives, which has boosted the market growth over the forecast period. For instance, according to the International Trade Administration, Denmark spends approximately 10% of its GDP on healthcare annually, amounting to over USD 7,000 per capita. Between 2019 and 2021, annual expenditures increased from USD 34 billion to USD 40 billion.