Hypodermic Needles Market Size to grow by USD 1913.12 million between 2023-2027
According to a research report “ Hypodermic Needles Market” by Product (Safety needles, Non-safety needles) End-user (Hospitals and clinics, ASCs, Others) Geography (North America, Europe, Asia, Rest of World (ROW))- Global Forecast to 2027 published by Technavio, the market size is estimated to grow by USD 1913.12 million, at a CAGR of 7.43% during the forecast period. The hypodermic needle market experiences significant growth due to their essential role in delivering medications and diagnosing chronic conditions, such as diabetes, tumors, and infectious diseases, in an accurate and targeted manner. Additionally, they are utilized for collecting vital fluid and cell samples. The aging population represents a substantial market driver, as per OECD predictions, the percentage of individuals aged 65 years and above in Asian countries is projected to double by 2050, reaching 20.5%. This demographic is particularly susceptible to chronic diseases like diabetes, a leading cause of mortality in the US and the seventh-leading cause of death.
Browse market data tables, figures, and in-depth TOC on “Hypodermic Needles Market” by Product (Safety needles, Non-safety needles) End-user (Hospitals and clinics, ASCs, Others) Geography (North America, Europe, Asia, Rest of World (ROW)) Global Forecast to 2027. Download Free Sample
By Product, the Safety needles segment is projected to dominate the market size in 2024
The hospital segment represents a significant market share in the global hypodermic needles industry. Hospitals serve as crucial healthcare providers, offering both inpatient and outpatient services. They procure medical products, including hypodermic needles, in substantial quantities. Hospitals maintain close relationships with suppliers, reimbursement authorities, and government organizations. With advanced medical infrastructure, they cater to diverse patient needs. In outpatient settings, chronic illness diagnosis and monitoring occur, while inpatient care includes specialized operating rooms such as hybrid, digital, and integrated for surgeries. Hypodermic needles are indispensable in these settings for immunizations, blood sample collection, and medication administration during surgeries and patient care.
By End-user, Hospitals and clinics segment is expected to hold the largest market size for the year 2024
The Hypodermic Needles market is experiencing significant growth due to several key factors. The aging population with chronic illnesses necessitates frequent injections, leading to increased demand for needles. Safety is a top priority in healthcare, and the preference for safety needles with built-in mechanisms is on the rise. Regulatory initiatives, such as those from the World Health Organization's Safe Injection Global Network (SIGN), promote safe injection practices. Technological advancements continue to drive innovation in multi-safety needles. Key vendors, including Smiths Group with the Needle-Pro EDGE Safety Device, TERUMO with SurGuard 3 Safety Hypodermic Needles, B. Braun Melsungen with Surecan Safety II Port Access Needles, and BD with the BD Eclipse Hypodermic Safety Needle, offer high-quality safety needle solutions.
North America is forecasted to hold the largest market size by region in 2024
The Hypodermic Needles market is predominantly driven by the US market, which accounts for a significant share due to factors such as extensive insurance coverage, escalating research and development expenditure, a rising elderly population with chronic diseases, increasing occurrences of needlestick injuries (NSIs), and the growing preference for self-administered drugs. According to NCBI data, approximately six million NSIs occur annually in the US. The market's expansion in the US is further fueled by the adoption of automated retractable needles with safety features and the presence of advanced medical facilities. Notably, states such as Indiana, Ohio, and Illinois in the US are projected to witness robust growth due to the burgeoning number of accredited laboratories.
The Hypodermic Needles Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
Hypodermic needles, also known as medical needles, are sharp, hollow tubes used in medical settings for various applications, including drug delivery, blood specimen collection, and vaccination. These needles consist of a thin, sharp tip connected to a hollow tube and a syringe. The tip penetrates the skin or vein, allowing fluids such as drugs or blood to flow into or out of the body. Hypodermic needles are essential tools in healthcare, enabling the administration of medications and the collection of blood samples for examination and diagnosis of chronic infectious diseases like Hepatitis B (HBV) and Hepatitis C (HCV). However, they also pose risks, including needlestick injuries, which can lead to blood-borne diseases and parasites or microorganisms entering the body. To minimize these risks, safety needles have been developed, which retract or self-sheath after use, reducing the risk of needlestick injuries. In medical settings, healthcare professionals must follow strict protocols for handling and disposing of hypodermic needles to prevent the spread of blood-borne diseases and ensure patient safety. During procedures, the needle is inserted into the body, typically a vein or radial artery, and the syringe is used to draw or inject fluids. The needle is then removed, and the site is cleaned and bandaged. Hypodermic needles play a crucial role in healthcare, facilitating the administration of drugs, collection of blood specimens, and vaccination.
Market Research Overview
Title: Hypodermic Needles Market: Safety, Regulatory Scenarios, and Unmet Medical Needs The Hypodermic Needles Market is witnessing significant growth due to the increasing demand for injection-based therapies, such as insulin for diabetes, vaccines, and biosimilar clinical trials. The market is segmented into passive and active hypodermic needles, non-safety and safety needles, and retractable and non-retractable needles. Healthcare infrastructure growth and disposable incomes have led to an increase in the usage of hypodermic needles in medical settings. However, healthcare regulatory scenarios are stringent due to the potential risks of needle-sticks, contaminated needle sticks, and sharp injuries leading to blood-borne diseases like HIV, Hepatitis B (HBV), and Hepatitis C (HCV). Safety variants, such as safety hypodermic needles, are gaining popularity due to their safety mechanisms that prevent needle-sticks. The market for safety needles is expected to grow at a faster rate due to regulatory scrutiny and unmet medical needs. The market comprises various types of hypodermic needles, including stainless steel needles, non-coring design needles, and hand-operated devices. The needles are used in medical procedures like examination, fluids administration, surgery, emergency care, and diagnostic tests. Major players in the market include Cardinal Health, BD, and others. The market is expected to grow due to the increasing demand for modern medicines, chronic diseases, and drug delivery systems. However, wastage of drugs due to improper administration and the high cost of safety needles are some challenges for the market. In conclusion, the Hypodermic Needles Market is a critical component of the healthcare industry, with significant growth potential due to the increasing demand for injection-based therapies and the need for safety variants to prevent needle-sticks and blood-borne diseases.
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