According to the report, the hypodermic needles market size was valued at US$ 2 Bn in 2020 and is expected to reach US$ 4 billion by 2030, poised to grow at a noteworthy CAGR of 6.1% from 2021 to 2030.
Hypodermic needles play important role in research requiring sterile conditions. A hypodermic needle significantly reduces contamination during inoculation of a sterile substrate. Different types of hypodermic needles used for drug delivery and other purposes are safety needles and non-safety needles. 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. 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.
The global hypodermic needles market is driven by rise in prevalence of chronic diseases and enforcement of legislation mandating the use of safety syringes.
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.
Rise in Prevalence of Chronic Diseases, Enforcement of Legislation Mandating Use of Safety Syringes to Drive Global Market
The rise in prevalence of major chronic diseases such as cancer, cardiovascular diseases, and diabetes is anticipated to drive the demand for hypodermic needles in the near future. According to the World Health Organization, cancer is a leading cause of death globally, accounting for nearly 10 million deaths in 2020. According to the International Diabetes Federation's 2019 report, the number of people living with diabetes is expected to increase from 463 million in 2019 to nearly 578.4 million in 2030. Enforcement of legislation in countries of North America mandating the use of safety syringes and rise in healthcare cost propel the hypodermic needles market in the region. The hypodermic needles market is driven by factors such as increase in incidence of needlestick injuries, improvement in safety mechanism, and favorable government initiatives.
In terms of type, the global hypodermic needles market has been bifurcated into safety needles and non-safety needles. The safety needles segment dominated the global hypodermic needles market in 2020 and the trend is expected to continue during the forecast period. The safety needles segment is likely to be driven by increase in cases of blood-borne diseases, active government participation to implement stringent regulations, surge in demand for injectable drugs & vaccines, and untapped potential.
Based on application, the global hypodermic needles 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. A hypodermic needle is useful to deliver certain medications that cannot be delivered orally due to vomiting. These factors are projected to fuel the growth of the drug delivery segment during the forecast period.
In terms of end user, the global hypodermic needles market has been divided into hospitals, cancer treatments centers, dermatology clinics, and others. The hospitals segment led the global hypodermic needles market in terms of revenue in 2020 and the trend is anticipated to continue during the forecast period. The segment’s dominance can be attributed to large patient base and high adoption of hypodermic needles in hospitals.
In terms of region, the global hypodermic needles market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global hypodermic needles market in 2020, followed by Europe. North America’s large market share can be ascribed to the launch of technologically advanced products, rise in awareness about hypodermic needles, and presence of major players.
The hypodermic needles market in Asia Pacific is expected to expand at a high CAGR from 2021 to 2030. This can be attributed to the presence of developing countries with commercial hubs, expansion of business organizations, improvement healthcare infrastructure, and increase in investments by companies.
The global hypodermic needles market is fragmented due to the presence of a large number of leading players. Key players operating in the global hypodermic needles market include Becton, Dickinson and Company, B. Braun Melsungen AG, Medtronic, Smiths Medical, Cardinal Health, Novo Nordisk, Medline Industries, Inc., Terumo Medical Corporation, Cadence Science, and Exelint International, Co.
Report Scope of the Hypodermic Needles Market
|Market Size||US$ 4 Billion by 2030|
|Growth Rate||CAGR of 6.1% From 2021 to 2030
|Forecast Period||2021 to 2030|
|Largest Market||North America|
|Fastest Growing Market||Asia Pacific|
|Companies Mentioned||Becton, Dickinson and Company, B. Braun Melsungen AG, Medtronic, Smiths Medical, Cardinal Health, Novo Nordisk, Medline Industries, Inc., Terumo Medical Corporation, Cadence Science, and Exelint International, Co.|
By End User
This report focuses on hypodermic needles market includes crucial information on market share, market size, and growth rate for the forecast period 2021 to 2030 at the global level, regional level and company level. From a global perspective, this report represents overall hypodermic needles market size by analyzing historical data and future prospect. The study highlights deep analysis on the major drivers of the market, restraints, and challenges to help the business owners, suppliers, and marketing personnel in planning effective strategies for the forecast period. This will help the business and manufacturers to lead the market and gain prominent position in future. The report also presents vital information through graphical representation on factors like table, charts, and statistics. The study includes drivers and restraints of the global hypodermic needles market.
The research not only conducts forecasts in terms of value, but also evaluates the market on the basis of essential parameters, such as Year-on-Year (Y-o-Y) growth. This helps providers to recognize the future opportunities as well predictability of the market.
In order to understand and assess opportunities in this market, the report is categorically divided into five key sections on the basis of segments. The report analyzes the global market in terms of value (US$ dollers) and volume (Million Units).
The research report includes specific segments by region (country), by company, by all segments. This study provides information about the growth and revenue during the historic and forecasted period of 2017 to 2030. Every segment is further sub-segmented into several sub-segmented that are deeply analyzed by experts to offer valuable information to the buyers and market players. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Major Key Points Covered in Report:
Executive Summary: It includes key trends of the hypodermic needles market related to products, applications, and other crucial factors. It also provides analysis of the competitive landscape and CAGR and market size of the hypodermic needles market based on production and revenue.
Production and Consumption by Region: It covers all regional markets to which the research study relates. Prices and key players in addition to production and consumption in each regional market are discussed.
Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the Hypodermic needles market.
Market Segments: This part of the report discusses about product, application and other segments of the hypodermic needles market based on market share, CAGR, market size, and various other factors.
Research Methodology: This section discusses about the research methodology and approach used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.
The research report includes a detailed study of regions of North America, Europe, China, Japan and Rest of the World. The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue and manufacturers of each region. This section analyses region-wise revenue and volume for the forecast period of 2017 to 2030. These analyses will help the reader to understand the potential worth of investment in a particular region.
The report provides in-depth segment analysis of the global hypodermic needles market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the hypodermic needles market.
The report includes country-wise and region-wise market size for the period 2017-2030. It also includes market size and forecast by segments in terms of production capacity, price and revenue for the period 2017-2030.
This section of the report identifies various key manufacturers of the market. It helps the reader understand the strategies and collaborations that players are focusing on combat competition in the market. The comprehensive report provides a significant microscopic look at the market. The reader can identify the footprints of the manufacturers by knowing about the global revenue of manufacturers, the global price of manufacturers, and sales by manufacturers during the forecast period of 2017 to 2019.
The analysts have provided a comprehensive analysis of the competitive landscape of the global hypodermic needles market with the company market structure and market share analysis of the top players. The innovative trends and developments, mergers and acquisitions, product portfolio, and new product innovation expected to provide a dashboard view of the market, ultimately providing the readers accurate measure of the current market developments, business strategies, and key financials.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users) and other segments.
The research methodology adopted by analysts for compiling the global hypodermic needles market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global market.
During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global hypodermic needles market.
The study objectives of this report are:
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