Hypodermic needles are hollow, cylindrical needles with a puncture point at the pointed tip, which are attached to hypodermic syringes. These needles are used to inject solutions through subcutaneous, intravenous, and intramuscular modes for rapid uptake of substances (insulin, vaccines, and others) that are not readily absorbed in the body. These needles are also used to extract body fluids for diagnosis.
Increase in incidence of needle stick injuries, implementation of stringent compliance for using safety needles, and surge in demand for injectable drugs & vaccines drive the market. In addition, rise in incidence of chronic and lifestyle diseases, especially diabetes supplement the market growth. However, availability of alternative modes of drug delivery, unawareness regarding safety syringes, and high cost of hypodermic needles hamper the market growth. Furthermore, the untapped emerging economies present lucrative opportunities for the market. The global hypodermic needles market accounted for $2,396 million in 2015, and is anticipated to reach $3,842 million by 2022, registering a CAGR of 6.9% from 2016 to 2022
The global hypodermic needles market is segmented based on product type, applications, end user, and geography both in terms of both value and volume. Based on product type, the market is bifurcated into safety and non-safety hypodermic needles. The safety hypodermic needles segment is further classified based on type and mode of activation. Based on type, safety hypodermic needles are divided into retractable and non-retractable needles. Based on the mode of activation, safety hypodermic needles are classified into active and passive hypodermic needles. The safety hypodermic needle holds the largest market share, owing to the technological advancements (retractable & passive needles and others), prevention of needle-stick injuries and safety mechanisms embedded in these needles. Based on application, this market is categorized into drug delivery, vaccination, and blood specimen collection. The drug delivery application was the highest revenue contributor in 2015, while the vaccination segment is anticipated to grow at the highest rate. The growth for this segment is due to the high birth rates and awareness regarding vaccination throughout the world.
Geographically, this market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the largest market share in the hypodermic needles market in 2015, and is expected to retain its dominance throughout the forecast period. This is primarily attributed to the higher buying power and stringent regulations that favor the utilization of hypodermic needles in this region. There is also increased awareness regarding the risk of cross infection (such as Hepatitis, HIV, and AIDS) and needle stick injuries in this region. However, Asia-Pacific is expected to emerge as a lucrative area with maximum growth potential, owing to the improvement in healthcare facilities, available disposable income, and rapidly developing economic conditions.
Product development is the key strategy adopted by market players. The report provides a comprehensive analysis of the key players that operate in the global hypodermic needles market.
KEY MARKET BENEFITS
KEY MARKET SEGMENTS
By Product Type
By End User
KEY PLAYERS PROFILED
Other players in the value chain include (profiles not included in the report)
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