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Increasing Chronic Disease Prevalence Fueling Hypodermic Needle Market Growth

07-26-2021 05:24 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: P&S Intelligence

Increasing Chronic Disease Prevalence Fueling Hypodermic

Due to the increasing incidence of chronic and lifestyle-associated diseases and the surging population of geriatric people, the global hypodermic needle market is expected to exhibit huge expansion in the coming years. Furthermore, the increasing concerns being raised over the escalating prevalence of needlestick injuries are also propelling the expansion of the market. According to the estimates of the market research company, P&S Intelligence, the market will progress at a CAGR of 7.4% from 2016 to 2022 (forecast period).

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This is subsequently propelling the requirement for hypodermic needles. These long, cylindrical, and hollow needles are used with syringes for injecting into and extracting fluids from the body. There are mainly two types of hypodermic needles used around the world— reusable and disposable. Reusable needles are largely used by diabetic patients for administering insulin themselves. In addition, these needles are also being increasingly used in research institutes for reducing contamination during inoculation.

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Depending on type, the hypodermic needle market is divided into safety and non-safety needle categories. Between these, the safety needle category dominated the market in the past, primarily because of the fact that these needles have a safety mechanism that prevents the occurrence of needlestick injuries. On the other hand, non-safety hypodermic needles do not have a safety mechanism and as a result, these needles experience limited demand. Moreover, as safety needles are produced in compliance with the safety regulations, their popularity is surging sharply globally.

About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

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