Global Hypodermic Needles Market By Product Type (Safety Hypodermic Needles, Non-Safety Hypodermic Needles), Application (Drug Delivery, Vaccination, Blood Specimen Collection), End-User (Hospitals & Clinics, Ambulatory Surgical Centers, Diabetic Patients, Family Practices, Psychiatrics, Others), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Hypodermic Needles Market
Global hypodermic needles market is expected to rise to an estimated value of USD 4917.26 million by 2026, registering a substantial CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the growing prevalence of various long-term chronic diseases resulting in rising demand for therapies for these patients.
Market Definition: Global Hypodermic Needles Market
Hypodermic needles are hollow needles attached to syringe for their working designed to extract or inject substances such as different fluids in the patient. One of the most common applications of these needles is in the delivery of drugs. These needles directly enter the blood stream by inserting into the skin. These needles consist of a very minute opening at one end to extract or deposit fluids in the body.
- Increasing volume of consumption associated with the drugs and vaccines designed for delivery by injecting; this factor is expected to propel the market growth
- Growing volume of injuries associated with needle-sticks is expected to enhance the adoption rate of advanced needles
- Significant rise in injection-based therapies and therapeutic systems; this factor is expected to drive the market growth
- High volume of programs and initiatives undertaken by the government to spread awareness regarding these needles
- Availability of various alternate methods for delivery of drugs; this factor is expected to act as a restraint for the market growth
- Lack of information/knowledge regarding these needles from the various developing regions of the world; this factor is expected to hinder the market growth
- Large costs associated with the safety variant of hypodermic needles is expected to hamper the growth of the market
Segmentation: Global Hypodermic Needles Market
By Product Type
- Safety Hypodermic Needles
- Mode of Activation
- Non-Safety Hypodermic Needles
- Drug Delivery
- Blood Specimen Collection
- Hospitals & Clinics
- Ambulatory Surgical Centers
- Diabetic Patients
- Family Practices
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America
- Middle East and Africa
- South Africa
- Saudi Arabia
- Rest of Middle East and Africa
Key Developments in the Market:
- In April 2019, Boston, Massachusetts, United States announced that they had organized a “Needle Take Back Day” along with a number of health centers throughout the city. The citywide initiative will involve collection of used needles from 10 a.m to 5 p.m. helping resolve the issue of proper disposal of these needles. The city also informed that they will conduct an awareness program regarding the usage of needles and their handling
- In July 2017, Cardinal Health announced that they had completed the acquisition of Medtronic’s ‘Nutritional Insufficiency’, ‘Patient-Care’ and ‘Deep Vein Thrombosis’ business operations for approximately USD 6.1 billion. This deal is highly complementary business acquisition helping Cardinal Health provide a significantly large volume of product offerings along with expertise of the medical brands acquired under this deal
Global hypodermic needles market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of hypodermic needles market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the global hypodermic needles market are Terumo Corporation; Cardinal Health; BD; B. Braun Melsungen AG; Connecticut Hypodermics Inc; EXELINT International, Co.; Retractable Technologies, Inc.; Smiths Medical, Inc.; Medline Industries, Inc.; Hindustan Syringes & Medical Devices Ltd; Hitech Syringes; NIPRO Medical Corporation; Vita Needle Company; Vygon SA; MW Industries, Inc. (MWI); NeedleTech Products, Inc.; Iscon Surgicals Ltd.; McKesson Medical-Surgical Inc. among others.
Research Methodology: Global Hypodermic Needles Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
Reasons to Purchase this Report
- Current and future of global hypodermic needles market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)