Hypodermic Needles Market to Reach US$ 4 Billion by 2031: TMR Study

The global 𝐡𝐲𝐩𝐨𝐝𝐞𝐫𝐦𝐢𝐜 𝐧𝐞𝐞𝐝𝐥𝐞𝐬 𝐦𝐚𝐫𝐤𝐞𝐭 was worth US$ 2.1 Bn and is projected to reach a value of US$ 4 Bn by the end of 2031 and is anticipated to grow at a CAGR of 6% during the forecast period.

A hypodermic needle, derived from "hypo" meaning under and "dermic" referring to the skin, is a hollow needle typically paired with a syringe for administering substances into the body or extracting fluids from it. It is also utilized for obtaining liquid samples, such as drawing blood from a vein during venipuncture. These needles facilitate swift delivery of liquids, especially when the substance cannot be taken orally for absorption or could potentially harm the liver, as is the case with insulin.

The global market for hypodermic needles is expected to be propelled by an increase in the prevalence of chronic diseases and a growing demand for vaccines.

𝐀𝐜𝐜𝐞𝐬𝐬 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐇𝐞𝐫𝐞:
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𝐏𝐫𝐞𝐜𝐢𝐬𝐢𝐨𝐧-𝐞𝐧𝐠𝐢𝐧𝐞𝐞𝐫𝐞𝐝 𝐇𝐲𝐩𝐨𝐝𝐞𝐫𝐦𝐢𝐜 𝐍𝐞𝐞𝐝𝐥𝐞𝐬 𝐃𝐞𝐥𝐢𝐯𝐞𝐫 𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐞𝐝 𝐏𝐚𝐭𝐢𝐞𝐧𝐭 𝐂𝐨𝐦𝐟𝐨𝐫𝐭

The hypodermic needles market is anticipated to reach a value of US$ 4 billion by the conclusion of 2031. Nevertheless, there exists a shortage of precision-engineered needles tailored for demanding applications in high-throughput processing settings. Terumo Pharmaceutical Solutions, renowned for manufacturing drug delivery devices, is seizing this opportunity to innovate by developing meticulously designed hypodermic needles that enhance comfort in parenteral therapies.

Firms operating in the hypodermic needles market are enhancing their manufacturing capabilities to produce patient-friendly products that reduce penetration resistance. Consequently, in pursuit of a competitive advantage, stakeholders are establishing adaptable global sales and distribution networks.

𝐌𝐚𝐣𝐨𝐫 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

Becton,Dickinson and Company,B. Braun Melsungen AG,Medtronic,Smiths Medical,Cardinal Health,Novo Nordisk,Medline Industries, Inc.,Terumo Medical Corporation,Cadence Science,Exelint International, Co.

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧:

Type

Safety Needles
Non-safety Needles

Application

Drug Delivery
Chemotherapy
Spinal/Epidural Infusion
Plastic Surgery
Others

End User

Hospitals
Cancer Treatment Centers
Dermatology Clinics
Others

𝐇𝐲𝐩𝐨𝐝𝐞𝐫𝐦𝐢𝐜 𝐍𝐞𝐞𝐝𝐥𝐞𝐬: 𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐫𝐢𝐯𝐞𝐫𝐬

The global hypodermic needles market is being propelled by a surge in chronic diseases such as cancer and cardiovascular disorders. Lifestyle factors such as sedentary behavior, poor dietary habits, obesity, and high rates of tobacco and alcohol consumption contribute to the increasing prevalence of these conditions. According to a 2019 study by the American Heart Association, cardiovascular disease (CVD) remains the primary cause of mortality, with over 17.6 million deaths recorded in 2016 and an anticipated rise to 23.6 million by 2030.

Additionally, the growing demand for vaccines is driving the expansion of the hypodermic needles market. The rise in infectious diseases further fuels this demand. Initiatives like the Universal Immunization Program (UIP), which aims to enhance immunization coverage against vaccine-preventable diseases, are also propelling market growth.

𝐆𝐞𝐭 𝐓𝐡𝐢𝐬 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭, 𝐈𝐧𝐬𝐭𝐚𝐧𝐭𝐥𝐲:
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𝐑𝐞𝐠𝐢𝐨𝐧𝐬 𝐂𝐨𝐯𝐞𝐫𝐞𝐝:

North America(USA, Canada and Mexico)
Europe(UK, Germany, France and the Rest of Europe)
Asia Pacific(China, Japan, India, and the Rest of the Asia Pacific region)
South America(Brazil, Argentina and the Rest of South America)
Middle East and Africa(GCC and Rest of the Middle East and Africa)

𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬:

Emergence of safety-engineered needles, growing preference for self-administration devices, development of needle-free injection systems, and increasing focus on eco-friendly and sustainable materials are among the prominent trends observed in the hypodermic needles market.

𝐅𝐮𝐭𝐮𝐫𝐞 𝐎𝐮𝐭𝐥𝐨𝐨𝐤:

The future of the hypodermic needles market looks promising with technological innovations, increasing healthcare expenditure, and expanding applications in various medical procedures. However, addressing safety concerns, enhancing product efficacy, and ensuring regulatory compliance will be crucial for sustained market growth.

𝐁𝐫𝐨𝐰𝐬𝐞 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐓𝐌𝐑:

𝐍𝐞𝐞𝐝𝐥𝐞 𝐂𝐨𝐤𝐞 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.globenewswire.com/news-release/2022/11/01/2545753/0/en/Needle-Coke-Market-to-Reach-US-5-Bn-by-2031-TMR-Study.html

𝐀𝐜𝐮𝐭𝐞 𝐋𝐲𝐦𝐩𝐡𝐨𝐛𝐥𝐚𝐬𝐭𝐢𝐜 𝐋𝐞𝐮𝐤𝐞𝐦𝐢𝐚 𝐌𝐚𝐫𝐤𝐞𝐭
- https://www.globenewswire.com/news-release/2022/11/01/2545841/0/en/Acute-Lymphoblastic-Leukemia-Market-to-Exceed-Value-of-US-4-5-Bn-by-2031-States-TMR-Analysis.html

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

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This release was published on openPR.