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The hypodermic needles market is estimated to grow at a CAGR of 7.43% between 2022 and 2027. The size of the market is forecast to increase by USD 1,913.12 million. The growth of the market depends on several factors, the including increasing target population requiring hypodermic needles, increasing compliance with safety needles, and market expansion in emerging economies
This report extensively covers market segmentation by product (safety needles and non-safety needles), end-user (hospitals and clinics, ASCs, and others), and geography (North America, Europe, Asia, and Rest of World (ROW)). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The market expansion in emerging economies is notably driving the market growth, although factors such as the high cost of safety needles may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Hypodermic Needles Market Driver
The market expansion in emerging economies is a key factor driving the growth of the global hypodermic needles market. The demand for hypodermic needles is increasing in emerging countries like China, India, and Brazil. Factors such as rising chronic illness, increase in annual income levels of people, increasing awareness of healthcare devices among people, increasing investments in the private healthcare sector, government initiatives for the development of the healthcare sector, and increasing research on complex diseases such as Alzheimer disease and multiple sclerosis and their biological mechanisms drive the market in these countries. The prevalence of chronic diseases such as cancer, cardiovascular diseases, and diabetes in emerging countries fuels the need for diagnostic procedures.
This, in turn, increases the demand for hypodermic needles with a syringe for drawing blood samples to identify specific anomalies or to deliver fluid medications to patients to provide better treatment care with higher accuracy. The market in China is mainly driven by the constant investments made by the government in the healthcare sector to expand healthcare facilities and develop advanced medical infrastructure. Furthermore, business expansion by key vendors such as BD and TERUMO will drive the growth of the market during the forecast period.
Significant Hypodermic Needles Market Trend
The introduction of user-friendly features in hypodermic needles is the primary trend in the global hypodermic needles market growth. Advances in technology have paved the way for the development of hypodermic needles with user-friendly features such as shorter needles, fine gauge needles for lesser pain, and the absence of recapping to reduce infection exposure. The user-friendly features of hypodermic needles assist patients in self-administering medicine effectively and evenly to the subcutaneous tissue without deeper layer penetration, thereby reducing tissue damage.
Based on safety features, hypodermic needles are categorized into active and passive systems. In an active needle, clinicians activate the safety mechanism after injection. In a passive needle, the syringe automatically shields the needle after injection. Thus, the introduction of user-friendly features in hypodermic needles will drive the growth of the market during the forecast period.
Major Hypodermic Needles Market Challenge
The high cost of safety needles is a major challenge to the growth of the global hypodermic needles market. The manufacturing and use of safety needles involve significant costs. There is a huge price difference between safe and non-safety needles. The average cost per unit of non-safety needles is USD 0.052, and that of safety needles is USD 0.178. The high price of safe needles limits their adoption by healthcare centers in emerging countries such as China, India, and Brazil. Hence, local manufacturers are developing low-priced non-safety multi-use needles.
Rural areas in developing countries continue to use these needles, thus exposing individuals to bloodborne diseases. However, with government support, needle exchange programs, and initiatives undertaken by authorities such as the WHO and public healthcare organizations to improve healthcare infrastructure in developing countries, safe immunization and injection practices can be achieved globally. Such factors will hinder the market growth during the forecast period.
Key Hypodermic Needles Market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Hypodermic Needles Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
cadenceinc.com - The company offers industrial filling needles which are designed to dispense precise measurements of liquids or gas into bladder, capsules, cartridges, and other vessels. Also, this segment focuses on complete services that range from initial design through manufacturing and full supply chain management for medical devices, life science, and industrial products.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the safety needles segment will be significant during the forecast period. In this safety, needles can be segmented as active and passive devices based on the requirement of user intervention to activate the safety mechanism. Based on the mechanism of activating this safety feature, active devices are further classified as manual and semi-automatic devices.
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The safety needles segment was valued at USD 3,059.95 million in 2017 and continue to grow by 2021. In this segment, the rising aging population with chronic illnesses, the increasing preference for the use of safety needles due to their inbuilt safety mechanism, the implementation of regulations from the World WHO through the Safe Injection Global Network (SIGN) to promote the safe use of needles since 1999, and continuous technological advances and innovations in the development of multi-safety needles drive the growth of the segment.
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North America is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The regional market is primarily led by the US, owing to widespread insurance coverage, increasing R&D expenditure, growing aging population with chronic diseases, increasing needlestick injuries (NSIs), the demand for self-administered drugs, increasing awareness about safe injectable technology, and high healthcare spending. According to NCBI data, six million needlestick injuries occur annually in the US. Furthermore, the adoption of automated retractable needles in the US with safety features and the presence of advanced medical facilities drive market growth. The market in states such as Indiana, Ohio, and Illinois in the US is expected to grow at a fast pace due to the increasing number of accredited laboratories. Hence, owing to these factors, the regional market is expected to grow during the forecast period.
The outbreak of COVID-19 had a positive impact on the growth of the regional market. Moreover, the lockdown restrictions were relaxed in the second half of 2020 owing to large-scale vaccination drives across North America. This resumed operations in clinics and hospitals providing treatments for different diseases in the first half of 2021. Thus, increasing treatments and checkups in clinics and hospitals will drive the demand for hypodermic needles, which will further boost the growth of the hypodermic needles market in North America during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Hypodermic Needles Market Scope |
|
Report Coverage |
Details |
Page number |
160 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.43% |
Market growth 2023-2027 |
USD 1,913.12 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
6.65 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 39% |
Key countries |
US, UK, Germany, Japan, and China |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
B. Braun SE, Becton Dickinson and Co., Cadence Inc., Cardinal Health Inc., Connecticut Hypodermics Inc., DeRoyal Industries Inc., EXELINT International Co., Hamilton Bonaduz AG, Hindustan Syringes and Medical Devices Ltd., Hi Tech Medics Pvt Ltd., Iscon Surgicals Ltd., Medline Industries LP, Medtronic Plc, Nipro Medical Corp., Novo Nordisk AS, Retractable Technologies Inc., Smiths Group Plc, Terumo Medical Corp., Vita Needle Co., and Vygon SAS |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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