Hypodermic Needles Market
Hypodermic Needles Market (Type: Safety Needles and Non-safety Needles; Application: Drug Delivery and Others; and End User: Hospitals, Cancer Treatment Centers, Dermatology Clinics, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031
Press Release :
ISO Standards Benefit Syringe Manufacturers amid Ongoing COVID-19 Vaccine Campaigns
The worldwide vaccine campaign has placed the spotlight on syringes and needles. Healthcare providers are adhering to ISO (International Organization for Standardization) standards to ensure they meet internationally agreed levels of safety and quality. Companies in the hypodermic needles market are capitalizing on business opportunities with unprecedented demand for single-use needles and catheters for blood sampling.
Stakeholders in the healthcare landscape are gaining awareness pertaining to government guidelines about specific properties and requirements for sterile single-use hypodermic syringes. Manufacturers in the hypodermic needles market are maintaining robust supply chains to meet requirements for vaccine campaigns and ongoing COVID-19 cases of patients in hospitals. International standards are proving useful for syringe manufacturers to ensure they comply with World Health Organization (WHO) recommendations.
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Precision-engineered Hypodermic Needles Deliver Increased Patient Comfort
The hypodermic needles market is predicted to reach US$ 4 Bn by the end of 2031. However, there is a lack of availability of precision-engineered needles for challenging applications in high-throughput processing environments. Terumo Pharmaceutical Solutions - a manufacturer of drug delivery devices, is taking advantage of this opportunity within a challenge to innovate in carefully crafted hypodermic needles that deliver comfort in parenteral therapies.
Companies in the hypodermic needles market are boosting their production capabilities in products that are patient-friendly and help to decrease penetration resistance. Thus, to gain a competitive edge, stakeholders are establishing flexible global sales and supply networks.
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Can Needle-free Injectors Replace Hypodermic Needles?
Hypodermic needles are facing a stiff competition from needle-free injectors. The NuGen Medical Devices’ needle-free injector is being publicized for the same and are serving as cutting-edge replacements. However, needle-free injectors cannot entirely replace hypodermic needles. Hence, manufacturers in the hypodermic needles market are offering tailored solutions and expert engineering to clients and customers in order to improve patient outcomes.
Manufacturers in the hypodermic needles market are increasing the availability of precision-engineered needles and needle stick prevention technologies to excel in challenging applications and high-throughput processing environments. Companies are providing safe designs and less painful injections to ensure therapeutic success. Robust inspection, quality-assured, and controlled manufacturing of hypodermic needles is being achieved to face the competition placed by needle-free injectors.
Companies Invest in Automated Systems for Inspection, Testing Processes
Meeting ISO standards has become customary for manufacturers in the hypodermic needles market in order to meet the high standard of quality in materials and for accurately administering medications. The steady demand for syringes has compelled companies to adopt automated systems in inspection and testing processes. Optical and vision systems are being used for random sample checking during production processes.
Surface finish, visual appearance, and cleanliness are forming as important requirements in the hypodermic needles market. Manufacturers are increasing their production capacities in safety hypodermic needles that are carefully crafted to suit a clinician’s needs and assure patient comfort. Patented, reliable, hinged sheath design provides audible, visible, and tangible confirmation of safety for administration of medications.
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With the advent of the global COVID-19 vaccine campaigns, analysts at the Transparency Market Research are anticipating a possible shortage of hypodermic needles and syringes in nations with poor medical resources and infrastructure. The hypodermic needles market is predicted to expand at a favorable CAGR of ~6% during the assessment period. However, advantages such as decline in cross-contamination, increase in availability and subcutaneous delivery of medications with the help of needle-free injectors are posing a threat to the sales of hypodermic needles. Hence, manufacturers should increase the availability of precision-engineered needles and deploy proven track record of reliable supply of syringes to stay relevant, since needle-free injectors cannot entirely replace the performance and need of syringes in challenging high-throughput processing environments.
Hypodermic Needles Market: Overview
- 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.
- Rise in prevalence of chronic diseases and increase in demand for vaccines are projected to drive the global hypodermic needles market
Hypodermic Needles: Market Drivers
- 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.
Hypodermic Needles: Market Segmentation
- In terms of type, the global hypodermic needles market has been bifurcated into safety needles and non-safety needles
- Based on application, the global 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.
- In terms of end user, the global hypodermic needles market has been divided into hospitals, cancer treatment centers, dermatology clinics, and others
- Each of the segments has been analyzed in detail for hypodermic needles trends, recent trends & developments, drivers, restraints, opportunities, and useful insights. The hypodermic needles market report provides current and future revenue (US$ Mn) for each of these segments for the period from 2017 to 2031, considering 2020 as the base year. The compound annual growth rate (% CAGR) has been provided for each segment and market from 2021 to 2031, along with market size estimations.
Regional Overview: Hypodermic Needles Market
- In terms of region, the global hypodermic needles market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions have been divided into major countries and sub-regions.
- North America accounted for the largest share of the global hypodermic needles market in 2020, and the trend is projected to continue during the forecast period. Growth of the hypodermic needles market in the region can be ascribed to the presence of major players, significant healthcare expenditure, early availability of new techniques, and increase in research activities across the country.
- Asia Pacific is anticipated to gain market share during the forecast period. Product launches, acquisitions, distribution agreements, alliances, and geographical expansion by local players, especially in China and India, are expected to propel the hypodermic needles market in the region.
- Current and future market sizes in terms of value (US$ Mn) of these regional markets and major countries have been provided in the report for the period from 2017 to 2031, along with CAGRs for the period from 2021 to 2031
- The study also offers a list of recommendations, highlights, and useful insights of the market, which are likely to help new companies willing to enter the market and existing companies to increase market share, and in the decision-making process
- The report concludes with the company profiles section that includes key information about the major players in the global hypodermic needles market
- Leading players analyzed in the report are
- Dickinson and Company
- B. Braun Melsungen AG
- Smiths Medical
- Cardinal Health
- Novo Nordisk
- Medline Industries, Inc.
- Terumo Medical Corporation
- Cadence Science
- Exelint International, Co.
- Each of these players has been profiled in the report based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments
Hypodermic Needles Market – Scope of Report
TMR’s report on the global hypodermic needles market studies the past as well as the current growth trends and opportunities to gain valuable insights of the indicators of the market during the forecast period from 2021 to 2031. The report provides revenue of the global hypodermic needles market for the period 2017–2031, considering 2020 as the base year and 2031 as the forecast year. The report also provides the compound annual growth rate (CAGR %) of the global hypodermic needles market from 2021 to 2031.
The report has been prepared after an extensive research. Primary research involved bulk of the research efforts, wherein analysts carried out interviews with key opinion leaders, industry leaders, and opinion makers. Secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the hypodermic needles market.
Secondary research also included Internet sources, statistical data from government agencies, websites, and trade associations. Analysts employed a combination of top-down and bottom-up approaches to study various attributes of the global hypodermic needles market.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Moreover, the report sheds light on the changing competitive dynamics in the global hypodermic needles market. These serve as valuable tools for existing market players as well as for entities interested in participating in the global hypodermic needles market.
The report delves into the competitive landscape of the global hypodermic needles market. Key players operating in the global hypodermic needles market have been identified and each one of these has been profiled in terms of various attributes. Company overview, financial standings, recent developments, and SWOT are the attributes of players in the global hypodermic needles market profiled in this report.
Key Questions Answered in Hypodermic Needles Market Report
- What is the sales/revenue generated by hypodermic needles across all regions during the forecast period?
- What are the opportunities in the global hypodermic needles market?
- What are the major drivers, restraints, opportunities, and threats in the market?
- Which regional market is set to expand at the fastest CAGR during the forecast period?
- Which product type is expected to generate the highest revenue globally in 2031? Which segment is likely to expand at the highest CAGR during the forecast period?
- What is the market position of different companies operating in the global market?
Hypodermic Needles Market – Research Objectives and Research Approach
The comprehensive report on the global hypodermic needles market begins with an overview, followed by the scope and objectives of the study. The report provides detailed explanation of the objectives behind this study and key vendors and distributors operating in the market and regulatory scenario for approval of products.
For reading comprehensibility, the report has been compiled in a chapter-wise layout, with each section divided into smaller ones. The report comprises an exhaustive collection of graphs and tables that are appropriately interspersed. Pictorial representation of actual and projected values of key segments is visually appealing to readers. This also allows comparison of the market shares of key segments in the past and at the end of the forecast period.
The report analyzes the global hypodermic needles market in terms of type, application, end user, and region. Key segments under each criteria are studied at length, and the market share for each of these at the end of 2031 has been provided. Such valuable insights enable market stakeholders in making informed business decisions for investment in the global hypodermic needles market.
Hypodermic Needles Market – Segmentation
TMR’s study on the global hypodermic needles market includes information divided into four segments: type, application, end user, and region. Changing industry trends and other crucial market dynamics associated with these segments of the global hypodermic needles market are discussed in detail.