Global Hypodermic Needles Market Size By Type, By Application, By Geographic Scope And Forecast

Hypodermic Needles Market Size And Forecast

Hypodermic Needles Market size was valued at USD 3.32 Billion in 2020 and is projected to reach USD 5.52 Billion by 2028, growing at a CAGR of 5.90% from 2021 to 2028.

Introduction of user-friendly features in Hypodermic Needles to drive growth within the market. Advances in technology have paved the way for the development of hypodermic Needles with user-friendly features including shorter Needles. fine gauge Needles for lesser pain. The Global Hypodermic Needles Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Hypodermic Needles Market Definition

A hypodermic needle is a hollow needle widely used across medical situations to hold out different applications such as drug delivery, vaccination, and blood specimen collection. These Needles generally function through two mechanisms which are safety needles and non-safety needles. Needles are utilized to inject drugs within the body and also help to withdraw fluids from the body for examination.

A hypodermic needle is used to rapidly deliver medicines, it is also useful to deliver certain medications that can’t be delivered orally because of vomiting. There are many ways for injection, with intramuscular and intravenous being generally the most common.

Global Hypodermic Needles Market Overview

The major factors that drive the worldwide Hypodermic Needles Market are an increase in demand for injectable drugs and vaccines, active government initiatives, and a surge in the application of injection and infusion therapies. Furthermore, emerging blood-borne diseases increase the demand for hypodermic Needles and hence create lucrative opportunities for the market to grow.  The introduction and implementation of varied regulations in several countries for mandatory usage of safety Needles have also fueled the growth of the worldwide Market.

However, high costs associated with the safety of hypodermic Needles and alternative modes of drug delivery can act as restraining factors to limit the growth of the market. The high risk of infections related to the administration of drug delivery through hypodermic Needles restrains the growth of this market. Furthermore, the increased risk of needle stick injuries and the availability of substitutes also restrain the growth of the worldwide Market.

Global Hypodermic Needles Market Segmentation Analysis

The Global Hypodermic Needles Market is segmented on the basis of Type, Application, And Geography.

Hypodermic Needles Market, By Type

• Safety
• Non-safety

On the basis of Type, The market is segmented into Safety and Non-safety. The safety type segment is anticipated to be the fastest growing segment over the estimated period. This growth can be attributed to the reduced risk of needle stick injuries offered by these products as such injuries can result in the transmission of bloodborne pathogens, such as HIV and hepatitis B, and hepatitis C virus.

Hypodermic Needles Market, By Application

• Drug Delivery
• Vaccination
• Blood Specimen Collection

On the basis of Application, The market is segmented into Drug Delivery, Vaccination, and Blood Specimen Collection. Out of these, Drug delivery is currently dominating the application segment. Hypodermic Needles are widely used in drug delivery to infuse the desired drug (therapeutic) into the patient’s body as these Needles help in quicker absorption by the body.

Hypodermic Needles Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

On the basis of Geography, The Global Hypodermic Needles Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. Regionally, Regionally, North America dominates the worldwide Market. The increase in the geriatric population in North America and the growing prevalence of chronic diseases are propelling the demand for hypodermic Needles in the region. Additionally, the implementation of favorable regulations by governments is likely to push the growth of the market.

Key Players

The “Global Hypodermic Needles Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Becton, Dickinson And Company, B. Braun Melsungen AG, Catalent Inc., Connecticut Hypodermics Inc., EXELINT International Co., MedPro Safety Products Inc., Medtronic plc, Retractable Technologies, Inc., Smiths Group plc.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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