The Hypodermic Needles Market is being driven by Increasing target population requiring hypodermic needles
The Hypodermic Needles Market is expected to grow at a CAGR of 7.63% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 2103.2 million. The Hypodermic Needles market plays a pivotal role in the vaccines industry, as these needles are essential for the administration of vaccines. The vaccines market is characterized by a high concentration on both the demand and supply sides. Vaccines represent the most effective medical intervention for reducing morbidity and mortality rates caused by infectious and chronic diseases. Immunization programs, initiated by governments, aim to increase awareness about vaccination for children against diseases such as tetanus, smallpox, mumps, and polio. For instance, the Universal Immunisation Programme, launched by the Indian government, is an Expanded Programme of Immunization (EPI) that provides several vaccines, including the Bacillus Calmette-Guerin (BCG) vaccine, oral polio vaccine (OPV), hepatitis B vaccine, and rotavirus vaccine, to infants, children, and pregnant women. These vaccines are administered using hypodermic needles to make the immune system resistant to infectious diseases, thereby preventing the occurrence of diseases in the first place.
Get more information on Hypodermic Needles Market by requesting a sample report
The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
Rich Experience: 20+ years leading global market research, trusted insights across industries.
Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.
Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.
|
Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
166 |
|
Base year |
2023 |
|
Historic period |
2018-2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 7.63% |
|
Market growth 2024-2028 |
USD 2103.2 million |
|
Market structure |
fragmentation |
|
YoY growth 2023-2024(%) |
6.94 |
|
Key countries |
US, UK, Japan, Germany, China, India, South Korea, UAE, Brazil, Rest of World(ROW), US, UK, Japan, Germany, and China |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Find out which segment is leading the market by accessing the free PDF report
The Hypodermic Needles Market encompasses various products such as hypodermic syringes, insulin needles, pen needles, iv catheters, infusion sets, blood collection tubes, and more. These items are integral to intravenous therapy, including subcutaneous and intramuscular injections, intradermal injections, and intravenous infusions. Pharmaceutical and sterile packaging, automated needle assembly, needle sharpening, and lubrication are essential for maintaining product quality. Innovations like needle-free drug delivery, transdermal drug delivery, biodegradable needles, and smart needles prioritize patient safety, healthcare professional convenience, and medical waste management. Drug delivery optimization, therapeutic outcomes, patient compliance, personalized medicine, and precision medicine are key considerations. Immunization programs and global healthcare initiatives benefit from needle-free vaccination technology.
The global healthcare supplies market encompasses businesses involved in the research and development (R&D) of a diverse range of medical consumables, including sterile hypodermic needles, such as disposable and reusable options, which are integral to the diagnosis and treatment of various medical conditions. According to Technavio, the healthcare supplies market size is determined by the collective revenue generated by manufacturers of medical supplies, including syringes, drapes, gloves, and gowns. Factors fueling market expansion include the increasing global population aging, with nearly one-quarter of the US population projected to be over 60 years old by 2050, and Europe reaching a similar demographic milestone by 2030. Key product specifications, such as needle gauge, length, and bevel design, contribute to the market's growth as they cater to the varying requirements of medical professionals and patients.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
Safe and Secure SSL Encrypted
One user only.
Quick & easy download option
Unlimited user access (Within your organization).
Complimentary Customization Included
*For Enterprise license, go to checkout page
Get the report (PDF) sent to your email within minutes.
