Albany NY, United States: A hypodermic needle is a hollow needle commonly used with a syringe to inject substances into the body or extract fluids from it.
Albany NY, United States: A hypodermic (hypo – under, dermic – the skin) needle is a hollow needle commonly used with a syringe to inject substances into the body or extract fluids from it. It could also be used to take liquid samples from the body; for instance, taking blood from a vein in venipuncture.
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A hypodermic needle provides rapid delivery of liquids. It is used when the injected substance cannot be ingested orally, as it would not be absorbed, and with insulin, or as it would harm the liver.
Rise in prevalence of chronic diseases and increase in demand for vaccines are projected to drive the global hypodermic needles market
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Hypodermic Needles: Market Drivers
Surge in cases of chronic diseases, including cancer and cardiovascular disorders, is a key driver of the global hypodermic needles market. Prevalence of chronic diseases is rising due to sedentary lifestyles, poor eating patterns, obesity, and high tobacco & alcohol consumption. According to the American Heart Association's 2019 study, cardiovascular disease (CVD) is the leading cause of death, accounting for over 17.6 million deaths in 2016. The number is expected to rise to 23.6 million by 2030.
Increase in demand for vaccines is another key factor to boost the growth of the global hypodermic needles market over the next few years. Moreover, rise in cases of infectious diseases contributes to the growth of the global market. Launch of the Universal Immunization Program (UIP) aimed at increased immunization coverage against vaccine preventable diseases fuels the growth of the market.
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Hypodermic Needles: Market Segmentation
In terms of type, the global hypodermic needles market has been bifurcated into safety needles and non-safety needles
Based on application, the global market has been classified into drug delivery and others. The drug delivery segment has been split into chemotherapy, spinal/ epidural infusion, plastic surgery, and others.
In terms of end user, the global hypodermic needles market has been divided into hospitals, cancer treatment centers, dermatology clinics, and others
Each of the segments has been analyzed in detail for hypodermic needles trends, recent trends & developments, drivers, restraints, opportunities, and useful insights. The hypodermic needles market report provides current and future revenue (US$ Mn) for each of these segments for the period from 2017 to 2031, considering 2020 as the base year. The compound annual growth rate (% CAGR) has been provided for each segment and market from 2021 to 2031, along with market size estimations.
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Regional Overview: Hypodermic Needles Market
In terms of region, the global hypodermic needles market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions have been divided into major countries and sub-regions.
North America accounted for the largest share of the global hypodermic needles market in 2020, and the trend is projected to continue during the forecast period. Growth of the hypodermic needles market in the region can be ascribed to the presence of major players, significant healthcare expenditure, early availability of new techniques, and increase in research activities across the country.
Asia Pacific is anticipated to gain market share during the forecast period. Product launches, acquisitions, distribution agreements, alliances, and geographical expansion by local players, especially in China and India, are expected to propel the hypodermic needles market in the region.
Current and future market sizes in terms of value (US$ Mn) of these regional markets and major countries have been provided in the report for the period from 2017 to 2031, along with CAGRs for the period from 2021 to 2031
The study also offers a list of recommendations, highlights, and useful insights of the market, which are likely to help new companies willing to enter the market and existing companies to increase market share, and in the decision-making process
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Major Players
The report concludes with the company profiles section that includes key information about the major players in the global hypodermic needles market
Leading players analyzed in the report are
- Becton
- Dickinson and Company
- B. Braun Melsungen AG
- Medtronic
- Smiths Medical
- Cardinal Health
- Novo Nordisk
- Medline Industries, Inc.
- Terumo Medical Corporation
- Cadence Science
- Exelint International, Co.
Each of these players has been profiled in the report based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments
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