Global Hypodermic Needle Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Safety Hypodermic Needle, Non-Safety Hypodermic Needle), By Application (Vaccination, Drug Delivery, Body Fluid Sample Collection), By End-User (Hospitals And Clinics, Ambulatory Care Centres), And By Geography - Forecasts From 2022 To 2027
- Published : Apr 2022
- Report Code : KSI061611904
- Pages : 126
The hypodermic needle market is expected to grow at a compound annual growth rate of 7.38% over the forecast period to reach a market size of US$4,217.264 million in 2027, from US$2,561.928 million in 2020.
Increasing prevalence of diabetes
The market is expected to surge in the coming years, due to the rise and growth in the prevalence rate of diabetes, worldwide. According to the data given by the International Diabetes Federation, around 537 million adults have been living with diabetes for years, between the ages of 20 and 79 category. Moreover, it has also been estimated that the global population living with diabetes is expected to grow to 643 million by 2030 and around 783 million by 2045. Increasing global expenditure on diabetes had been expected to surge the adoption of advanced drug delivery solutions. Around US$966 billion is usually spent on diabetes annually, worldwide. Various companies and corporations have been offering advanced and novel solutions for diabetic patients, such as the easy delivery of drugs by needles in a patient's body. For instance, Terumo Corporation has been providing painless needles to its customers worldwide. The company had also sourced intellectual property rights to provide itself with a competitive advantage and safeguard its manufacturing and production process of needles.
Several firms and corporations have been making a considerable impact in the market in the past few years. The increasing expenditure on research and development had been expected to surge in the next few years, as the corporations tend to increase their competitive advantage and overall market share, globally. Iscon Surgicals Ltd., one of the key players in the market, has been providing and selling disposable hypodermic needles to its customers. The company had stated that their needle had been produced through high and advanced precision grinding, siliconization, and ultrasonic cleaning. The company's products have been ISO Certified. Other corporations have been offering advanced hypodermic needles for their customers. For instance, NIPRO, one of the largest needles manufacturers, produces around 11 billion units annually. The company had stated that its products are not manufactured as PVC or latex. It also offers hypodermic needles in different lengths and sizes. These developments and trends are expected to play a significant role in the market during the forecast period.
The increasing rate of asthma
Hypodermic needle consumption and use have been expected to surge in the coming years due to the increasing rate of asthma, worldwide. According to the data given by the World Health Organisation, around 262 million were affected by asthma in the year 2019. It has also caused an estimated 461,000 deaths globally. With the increase in healthcare expenditure, there has been a surge in the adoption of advanced and high-quality needles and syringes worldwide. The World Health Organisation has also been undertaking several measures to enhance the drug delivery sector in lower and middle-income countries. With the increasing industrialization, there has been a concern of high pollution, which had been one of the major factors in the increasing prevalence rate of asthmatic patients. Therefore, it is expected to enhance the adoption of hypodermic needles and other drug-delivery products in the coming years.
Favourable Government Regulations
Several patients suffering from diabetes and asthma have been consuming and using hypodermic needles on their own. These patients are required to desensitize drugs and injections in case of different allergic reactions. Governments worldwide have been easing the regulations and laws that allow patients to carry hypodermic needles without any major restrictions. For instance, in March 2021, the Maryland Senate in the United States announced the passing of a novel bill decriminalizing the distribution and possession of hypodermic needles. Moreover, in October 2021, the New York Government announced the passing of a bill decriminalizing the distribution and sales of hypodermic needles in the state. Under this novel bill, hypodermic needles would not be considered as drug paraphernalia. The government had stated that the novel bill had been introduced to enhance the accessibility of the drug delivery systems to its people.
The increasing rate of chronic diseases
The market is expected to surge in the coming years, due to the rise in the prevalence rate of chronic diseases, worldwide. According to the data given by the World Health Organisation, the prevalence rate of chronic diseases was expected to grow by 57% by 2020. This development had been expected to surge the adoption of advanced needles and syringes that could safely deliver drugs into the body. Moreover, increasing vaccination rates were also expected to enhance the demand for novel injectable solutions, worldwide.
- By Type
- Safety Hypodermic Needle
- Non-Safety Hypodermic Needle
- By Application
- Drug delivery
- Body Fluid Sample Collection
- By End Users
- Hospitals and Clinics
- Ambulatory Care Centers
- By Geography
- North America
- South America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Asia Pacific
- South Korea
- North America
Frequently Asked Questions (FAQs)
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. The threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Global Hypodermic Needle Market Analysis, By Type
5.2. Safety Hypodermic Needle
5.3. Non-Safety Hypodermic Needle
6. Global Hypodermic Needle Market Analysis, By Application
6.3. Drug delivery
6.4. Body Fluid Sample Collection
7. Global Hypodermic Needle Market Analysis, By End Users
7.2. Hospitals and Clinics
7.3. Ambulatory Care Centers
8. Global Hypodermic Needle Market Analysis, By Geography
8.2. North America
8.2.1. United States
8.3. South America
8.5. Middle East and Africa
8.5.1. Saudi Arabia
8.5.2. South Africa
8.6. Asia Pacific
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
10.1. B. Braun Melsungen AG
10.3. Cardinal Health Inc.
10.4. Terumo Medical Corporation
10.5. Smiths Group Plc
10.7. Iscon Surgicals Ltd.
10.8. Narang Medical Ltd.
10.9. Medline Industries Inc.
10.10. Dynarex Corporation
B. Braun Melsungen AG
Cardinal Health Inc.
Terumo Medical Corporation
Smiths Group Plc
Iscon Surgicals Ltd.
Narang Medical Ltd.
Medline Industries Inc.
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