Global Hypodermic Needles Market By Products (Safety Hypodermic Needles, Non-safety Hypodermic Needles), By Application (Drug Delivery, Vaccination, Blood Specimen Collection), By End Users (Hospital, Diabetic Patients, Family Practitioners, Psychiatry, Others): Global Opportunity Analysis and Industry Forecast, 2020-2030
The global hypodermic needles market size was valued at $3,256.00 million in 2020, and is expected to garner $4,537.99 million by 2030, registering a CAGR of 3.4 % during the forecast period 2021–2030.
A hypodermic needle is a hollow needle widely used across medical settings to carry out different applications, such as drug delivery, vaccination, and blood specimen collection. These needles function through two different mechanisms, namely safety and non-safety needles. They are used to administer and inject drugs in the body and also to withdraw fluids from the body for examination and research purposes.
The growth of the global hypodermic needles market size is driven by increase in incidences of needlestick injuries. According to World Health Organization, it was estimated that 296 million people were living with chronic hepatitis B infection in 2019, with 1.5 million new infections each year in 2019. Hepatitis B resulted in an estimated 820, 000 deaths, and hundreds of thousands of healthcare workers were at high risk of work-related infections, such as hepatitis B, hepatitis C, and HIV due to exposure to contaminated needle sticks and sharp injuries. In addition, rise in incidence of chronic & lifestyle diseases, especially diabetes, supplements the hypodermic needles market growth. However, availability of alternative modes of drug delivery, low awareness towards safety syringes, and high cost of hypodermic needles hamper the hypodermic needles industry. Based on hypodermic needles market analysis, the untapped emerging economies present lucrative opportunities for the market.
The hypodermic needles market is segmented on the basis of product type, application, end user, and region. On the basis of product type, the market is bifurcated into safety and non-safety hypodermic needles. The safety hypodermic needles segment is sub-segmented on the basis of type and mode of activation.
By type, safety hypodermic needles are divided into retractable and nonretractable needles. By mode of activation, they are classified into active and passive hypodermic needles.
The safety hypodermic needle segment holds the largest market share owing to the technological advancements, prevention of needlestick injuries, and safety mechanisms embedded in these needles.
By applications, the market if divided into drug delivery, vaccination, and blood specimen collection. The drug delivery application was the highest revenue contributor in 2020. However, the vaccination segment is anticipated to grow at the highest rate during the forecast period owing to high birth rates and increase in awareness towards vaccination globally.
By end user, the hypodermic needles market includes hospitals, diabetic patient, family practitioner, psychiatry and others. World Health Organization (WHO) has recommended all healthcare providers to switch over to safer needles and helps prevent the spread of blood-borne diseases such as hepatitis, HIV, and viral hemorrhagic fevers. Hospitals are the largest end users of hypodermic needles. Hospitals that are publicly or privately owned, multinational hospitals, specialty hospitals, and others, widely use hypodermic needles for various purposes such as vaccination, drug delivery, blood specimen collection, and others.
Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific accounted for the largest hypodermic needles market share in 2020, and is expected to maintain its dominance during the forecast period. This is attributed to higher buying power and stringent regulations that favor the utilization of hypodermic needles. In addition, increase in awareness towards the risk of cross infection (such as hepatitis, HIV, and AIDS) and needlestick injuries, boosts the adoption of safety hypodermic needles. Asia-Pacific is expected to emerge as a lucrative area with maximum growth potential, owing to improvements in healthcare facilities, increase in disposable income, and rapid development of economic conditions.
The key players that operate in the global hypodermic needles market include, Becton, Dickinson and Company, B. Braun Melsungen Ag, Cardinal Health Inc., Connecticut Hypodermics Inc., Exelint International Co., Mckesson Corporation, Hi-tech syringes, Retractable Technologies, Inc., Nipro Corporation, and Terumo Medical Corporation.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global hypodermic needles market analysis from 2020 to 2030 to identify the prevailing global hypodermic needles market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the global hypodermic needles market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global global hypodermic needles market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Products
Safety Hypodermic Needles
Non-safety Hypodermic Needles
By Application
Drug Delivery
Vaccination
Blood Specimen Collection
By End Users
Hospital
Diabetic Patients
Family Practitioners
Psychiatry
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Rest Of Europe
Asia-Pacific
Japan
China
Australia
India
South Korea
Taiwan, Republic Of China
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Becton, Dickinson and Company
B. BRAUN MELSUNGEN AG
Cardinal Health Inc.
CONNECTICUT HYPODERMICS INC.
EXELINT INTERNATIONAL CO.
McKesson Corporation
Hitech Syringes
Retractable Technologies, Inc.
Nipro Corporation
TERUMO MEDICAL CORPORATION
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