Hypodermic needle is hollow tube with sharp tip commonly used with syringe to inject substance into body or to extract fluid from body. Hypodermic needles are generally used for rapid delivery of liquid, depending on the safety feature associated with hypodermic needles, further classified as safety and non-safety needles.
The report titled “Global Hypodermic Needles Market- Growth, Future Prospects and Competitive Analysis, 2021–2029” offers strategic insights into the overall hypodermic needles market along with the market size and estimates for the duration 2019 to 2029. The research study covers in-depth analysis of market segments based on product type and different geographical region.
Market size and forecast for these regional and country level markets are presented in this study for the period 2019-2029. Market growth rates for the forecast period 2021-2029 are also included in this report, considering 2020 as the base year.
Along with quantitative information, qualitative information sets and assessment tools are provided in this study for better analysis of the overall market scenario and future prospects. Information such as market inclination insights and drivers, challenges and opportunities assists the readers for understanding the ongoing trends in the global hypodermic needles market. Tools such as market positioning of key players and attractive investment proposition provide the readers with insights on the competitive scenario of the global hypodermic needles market. This report concludes with company profiles section that highlights major information about the key players engaged in global hypodermic needles market. In-depth competitive environment analysis and historical years (2019) market size data are also provided in the report.
Thus, the research study provides a holistic view of the global hypodermic needles market, offering market size and estimates for the period from 2021 to 2029, keeping in mind the above-mentioned factors.
Based on the product type, the global hypodermic needles market is segmented as follows:
Hypodermic needles are hollow needles with a sharp tip commonly used with a syringe to inject substances into the body and to extract fluids from body. On the basis of safety feature associated with the device, hypodermic needles are broadly segmented as safety and non-safety needles. In base year 2020, it was observed that safety needles market generated more than 80% of the revenue, as safety needles price is 3 to 4 times higher than non-safety needles and legislation mandating the use of safety devices in the healthcare industry, hence influencing the safety needles market growth. Moreover, increasing awareness and adoption of the use of safety needles would further driving the market growth during forecast period 2021-2029. Non-safety needles such as B.Braun’s Sterican, Becton’s PrecisionGlide and others are unprotected devices have a risk of harming the user, this would negatively impact market growth. It is anticipated that non-safety needles will show decline in market growth during the forecast period, due to increased awareness and adoption of the use of safety needles. B-Braun, Becton Dickinson and Co., Covidien plc. and Terumo Corp. are some key players in global safety and non-safety needles market while exel international is key manufacturer for non-safety needles only.
On the basis of user requirement intervention to activate the safety mechanism, safety needles market is further segmented as active and passive (automatic) devices. Depending on mechanism of activating this safety feature active devices are further classified as manual and semiautomatic devices. Currently manual needles such as Covidien's Magellan, Becton’s Eclipse and others dominating the global safety needles market as these needles are available at low price as comparative semi-automated and passive (automatic) needle devices. However increasing compliance to semi-automatic and automatic/passive safety needles such as Becton’s Integra, Vigmed Swing, erumo's K-Pack SurShield and others drive the market growth during forecast period.
Hypodermic needle is hollow needle with sharp tip, commonly used with a syringe to inject substances into the body or extract fluids from body. Global Hypodermic needles market has been continuously developing and several factors such as mandatory use of safety needles in some countries, rising population and increasing healthcare demand influencing the hypodermic needles market growth continuously. However difficulties in the adoption of safety mechanisms by users and increasing needle-free injection devices may replace hypodermic needles in the future. In the base year 2020, North America is dominating market in terms of value and it is anticipated to grow steadily during forecast period of 2021-2029. Higher price of hypodermic needles, enforced legislation for the mandatory use of safety needles and increased awareness in North America are influencing the market growth. Currently, United States is major revenue contributing segment, followed by Canada. In terms of revenue Europe is second largest revenue generating segment. European countries such as France, Germany, Italy, Spain, and the UK are major revenue generating regions. Factors such as anticipated legislation for safety oriented healthcare systems, advance technologies and higher cost of products contributed to the market growth in Europe. Progress of regulatory compulsions in the use of safety needles in Latin America would show significant growth during forecast period. Currently Asia Pacific is not major revenue contributor but due to increasing healthcare awareness, rising population and economic development it will show significant growth in future.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Hypodermic Needles market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
