The Hypodermic Syringes And Needles Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Hypodermic Syringes And Needles Global Market Report 2024, The hypodermic syringes and needles market size has grown steadily in recent years. It will grow from $7 billion in 2023 to $7.21 billion in 2024 at a compound annual growth rate (CAGR) of 3.0%. The growth in the historic period can be attributed to medical advancements, prevalence of chronic diseases, vaccination programs, growth in geriatric population, expansion of healthcare infrastructure, global health initiatives.
The hypodermic syringes and needles market size is expected to see steady growth in the next few years. It will grow to $8.33 billion in 2028 at a compound annual growth rate (CAGR) of 3.7%. The growth in the forecast period can be attributed to growth in biologics and biosimilars, home healthcare trends, rise in diabetes cases, focus on infection control, drug delivery devices for chronic conditions, e-commerce growth in medical supplies. Major trends in the forecast period include sustainable packaging, technological advances in needle safety, pre-filled syringes and autoinjectors, telehealth and remote medication administration, strategic partnerships in manufacturing.
The increasing demand for syringes and needles will boost the hypodermic syringes and needles market. Syringes and needles are medical devices used to inject or withdraw bodily fluids. A syringe consists of a cylindrical barrel, a plunger, and a tip that can be attached to a needle. Needles are thin, hollow, and sharp devices connecting to a syringe’s end. A syringe consists of a cylindrical barrel, a plunger, and a suggestion that can be attached to a needle. Hypodermic syringes and needles inject or withdraw fluids from the body, including administering medications. Hypodermic syringes and needles allow for accurate and precise delivery of drugs and other liquids, making them a valuable tool in medical treatment and care. For Instance, in April 2022, according to the Aesthetic Society, a US-based international organization, surgical procedures increased by 54% in 2021. Therefore, the increasing demand for syringes and needles will drive the hypodermic syringes and needles market forward.
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The hypodermic syringes and needles market covered in this report is segmented –
1) By Type: Syringes, Needles
2) By Usability: Disposable, Re-Usable
3) By Application: Blood Collection, Drug Delivery, Vaccination, Insulin Administration, Other Applications
4) By End-Use: Hospitals, Ambulatory Surgical Centers, Diagnostic Centers, Other End-Uses
Product innovations are a popular trend in the hypodermic syringes and needles market. Major companies operating in the hypodermic syringes and needles market focus on product innovations to retain their market share. For Instance, in June 2021, Hindustan Syringes & Medical Devices launched a new product called DispoJekt Safety Needle, a single-use needle designed to prevent needle stick injuries and increase patient safety. The DispoJekt Safety Needle is made from high-quality medical-grade materials and is available in various sizes and gauges to suit different medical applications. The product is also compatible with most syringe brands, making it a versatile and convenient option for healthcare professionals.
The hypodermic syringes and needles market report table of contents includes:
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Top 5 Major Key Players Are:
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