Global Hypodermic Needles Market to Reach US$ 5.0 Billion by 2032, Supported by Increasing Prevalence of Chronic and Lifestyle Diseases

July 27, 2022 | Healthcare

According to the latest report by IMARC Group, titled "Hypodermic Needles Market Report by Product Type (Safety Hypodermic Needles, Non-Safety Hypodermic Needles), Application (Drug Delivery, Vaccination, Blood Specimen Collection), End User (Hospitals and Clinics, Ambulatory Surgical Centers, Diabetic Patients, Family Practices, Psychiatrics, and Others), and Region 2024-2032," the global hypodermic needles market reached a value of US$ 2.9 Billion in 2023. Hypodermic needles are sterile, hollow needles that are employed across the medical sector to perform different applications, such as blood specimen collection, drug delivery, and vaccination. They are primarily used with syringes for administering pharmaceutical drugs or extracting blood or other bodily fluids as samples for examination or research purposes. Hypodermic needles aid in delivering an accurate amount of drug, enabling users to self-administer, and providing medications that cannot be indigested orally while ensuring optimal safety and convenience. Along with this, hypodermic needles comprise a smooth and sharp surface, which minimizes contamination during the inoculation of the sterile substrate. Currently, they are commercially available in varying gauge sizes, needle lengths, and diameters.

Global Hypodermic Needles Market Trends:

The widespread adoption of hypodermic needles across the healthcare sector can be attributed to the increasing need for an intravenous vaccine delivery mode for instant intradermal liquid administration during vaccination and sample collection. Additionally, the fueling compliance with safety needles to prevent the risk of needle stick injuries and infection is acting as another growth-inducing factor. In line with this, the outbreak of the COVID-19 pandemic and the escalating health concerns have prompted governments of different nations to promote the uptake of hypodermic safety needles to inhibit the re-utilization of needles, which is positively stimulating the market growth. Moreover, the advent of ultra-short and thin hypodermic needle pens with improved drug delivery systems that offer reduced pain and discomfort during self-dosage is contributing to the market growth. Furthermore, the escalating number of blood donations across the globe are supplementing the product demand in the market. Other factors, such as substantial expansion in the healthcare infrastructure and strategic collaborations amongst key players to engineer self-dosage hypodermic needles at cost-effective prices, are creating a positive outlook for the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 5.0 Billion by 2032, growing at a CAGR of 6.2% during 2024-2032.

Market Summary:

Based on the product type, the market has been bifurcated into safety and non-safety hypodermic needles.
On the basis of the application, the market has been segregated into drug delivery, vaccination, and blood specimen collection.
Based on the end user, the market has been categorized into hospitals and clinics, ambulatory surgical centers, diabetic patients, family practices, psychiatrics, and others.
On a regional basis, the market has been segmented into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and Others), Latin America (Brazil, Mexico, and Others), and Middle East and Africa.
The competitive landscape of the industry has also been examined, with some of the key players being 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.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Product Type, Application, End User, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	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.
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Global Hypodermic Needles Market to Reach US$ 5.0 Billion by 2032, Supported by Increasing Prevalence of Chronic and Lifestyle Diseases

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