Hypodermic Needles Market Size, Share and Forecast 2022-2027
The global hypodermic needles market size reached a value of US$ 2.48 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 3.86 Billion by 2027 exhibiting a CAGR of 7.20% during 2022-2027.
Hypodermic needles represent thin and hollow needles that are used with a syringe to inject substances into the body. They have a smooth and sharp surface that prevents and minimizes contamination during the inoculation of a sterile substrate. Hypodermic needles are manufactured using stainless-steel tubes via the tube drawing process.
Moreover, they are utilized to provide medications that cannot be ingested orally and also aid in extracting fluids from the body. Consequently, hypodermic needles find wide-ranging applications across the healthcare sector and in research processes requiring sterile conditions.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
|Market Size Value in 2021:||US$ 2.48 Billion|
|Growth Rate:||CAGR of 7.20% from 2022 to 2027|
Important Attribute and highlights of the Report:
- Detailed analysis of the global market share
- Market Segmentation
- Historical, current, and projected size of the market in terms of volume and value
- Latest industry trends and developments
- Competitive Landscape
- Strategies of major players and product offerings
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Hypodermic Needles Market Trends and Drivers:
The widespread product adoption by physicians, medical professionals, and paramedics for the intradermal delivery of liquids for emergencies, vaccinations, blood sample collections, etc., is primarily driving the hypodermic needles market. In line with this, the rising prevalence of chronic medical ailments, such as diabetes, cancer, cardiovascular disorders (CVDs), etc., is inflating the need for injectable drugs, which, in turn, is further stimulating the market growth.
Additionally, the growing utilization of hypodermic needles, on account of the sudden outbreak of the COVID-19 pandemic, is acting as another significant growth-inducing factor. Besides this, the implementation of various stringent regulations by government bodies across countries that mandate the use of safety needles to mitigate the risk of infections and prevent needle-stick injuries is also augmenting the global market.
Furthermore, the introduction of precision-engineered product variants by the leading manufacturers to enhance patient comfort in parenteral therapies and reduce penetration resistance is anticipated to fuel the hypodermic needles market over the forecasted period.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
B. Braun Melsungen AG, Becton Dickinson and Company, Cardinal Health Inc., Connecticut Hypodermics Inc., EXELINT International Co., Hi-Tech Syringes, McKesson Corporation, Medline Industries LP, Nipro Corporation, Retractable Technologies Inc., Smiths Medical Inc. (ICU Medical Inc.) and Terumo Corporation.
The report has segmented the market on the basis of region, product type, application and end user.
Breakup by Product Type:
- Safety Hypodermic Needles
- Non-Safety Hypodermic Needles
Breakup by Application:
- Drug Delivery
- Blood Specimen Collection
Breakup by End User:
- Hospitals and Clinics
- Ambulatory Surgical Centers
- Diabetic Patients
- Family Practices
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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