Peripheral nerve block is a technique of regional anesthesia, which is used as an alternative to general anesthesia during surgical procedures. The anesthetic is injected near a specific nerve or a bundle of nerves in order to block the sensation at the desired area where surgery is to be performed. Peripheral nerve blocks are used in cases where the surgical procedure is confined to a specific part of the body such as the arm or the leg and involves a considerably larger surface of the body for the local anesthesia to be administered. Traditionally, the peripheral nerve block technique of the regional anesthesia has been widely used by anesthetists. It has proved efficient over the years. Peripheral nerve blocks usually last longer than the local anesthesia and positioning of the plexus block needle is important in delivering the peripheral nerve block into the desired area of the body. Plexus block needles come in various sizes, shapes, and gauges so as to enable anesthetists to effectively and efficiently deliver the peripheral nerve block into the desired area of the patient’s body.
Rising number of innovations in products offered by major market players in plexus block needles, increasing number of small and domestic players entering the global market with new and advanced product offerings, and surging demand for plexus block needles from developing countries led by low cost of products and procedures were some of the major factors driving the global plexus block needles market in 2016. Growing adoption of regional anesthesia techniques during surgical procedures and increasing number of surgical procedures being performed worldwide are certain factors expected to drive the global plexus block needles market from 2017 to 2025. However, lack of patient compliance with peripheral the nerve block technique for anesthesia is a major reason expected to restrain the global plexus block needles market during the forecast period.
The global plexus block needles market can be segmented based on type, end-user, and geography. Based on type, the plexus block needles market has been segmented into supraclavicular plexus block needles, lumbar plexus block needles, brachial plexus block needles, celiac plexus block needles, and others. The type of plexus block needle used in the peripheral nerve block technique during a regional anesthesia procedure depends on the area of the body to be anesthetized. Based on end-user, the global plexus block needles market has been segmented into hospitals, specialty clinics, ambulatory surgery centers, and others. Among end-users, the hospitals segment accounted for a major share of the global plexus block needles market in 2016. This is attributable to increase in the demand from hospitals, especially in emerging countries such as China, India, and Brazil; rising number of surgical procedures performed in hospitals; and low cost of peripheral nerve blocks compared to other regional anesthesia techniques.
Based on geography, the global plexus block needles market has been segmented into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to dominate the global plexus block needles market between 2017 and 2025, owing to increasing number of surgical procedures being performed in the region and uniform and adequate reimbursements for regional anesthesia techniques, which lead to increasing adoption of these techniques by health care providers and patients. However, the market in Asia Pacific is expected to register the maximum CAGR among all regions, owing to increasing adoption of the peripheral nerve block technique in the region due to low cost of the procedure.
Some of the key players operating in the global plexus block needles market are Cook Medical, B. Braun Melsungen AG, SARSTEDT AG & Co, Vygon, BK Ultrasound, Teleflex, and Flexicare Medical.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.