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Key Players in Hypodermic Needles Market Focus on Product Development & Expansion

05-07-2024 04:17 PM CET | Health & Medicine

Press release from: Fact.MR

Key Players in Hypodermic Needles Market Focus on Product

The global hypodermic needles market (注射針市場), valued at US$ 5.74 billion in 2023, is projected to reach US$ 8.50 billion by 2033, growing at a CAGR of 4%. Hypodermic needles, hand-operated instruments, consist of thin, hollow tubes with sharp tips connected to syringes. They are used for extracting or depositing bodily fluids in vaccinations, drug delivery, and blood specimen collection, reaching the bloodstream upon skin insertion. The demand for vaccines and injectable medications is rising due to prevalent infectious diseases and chronic illnesses like diabetes, cancer, and cardiovascular diseases. Additionally, ongoing COVID-19 vaccination campaigns are further driving the demand for hypodermic needles.

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Key findings from the market study on hypodermic needles include:

The global market is expected to reach US$ 8.50 billion by 2033.
The United States is a significant market due to the presence of major players.
Germany is a leading market in Europe, benefiting from advanced healthcare systems.
The demand for safety hypodermic needles is projected to rise rapidly worldwide.

Market Future Outlook:

The hypodermic needles market (피하 주사 바늘 시장) is expected to witness robust growth in the coming years. Factors such as the increasing adoption of self-injection devices, expanding healthcare infrastructure in developing countries, and the growing popularity of needle exchange programs are expected to drive market growth.

Key Players:

Terumo Corporation
BD
Cardinal Health
Medline Industries, Inc
Hindustan Syringes & Medical Devices Ltd
B. Braun Melsungen AG
Hitech Syringes
NIPRO Medical Corporation
Vita Needle Company
Vygon SA
NeedleTech Products, Inc
ISCON SURGICALS LTD.
McKesson Corporation
Connecticut Hypodermics Inc
EXELINT International, Co
Retractable Technologies, Inc
Smiths Medical

Competitive Landscape:

As per insights from a market research and competitive intelligence provider, key players in the hypodermic market are actively engaged in developing advanced needles to fortify their market position and drive growth. Strategies such as mergers, acquisitions, regional expansion, bolstering local supply chains, and introducing new products are being pursued by industry leaders.

For instance, in October 2020, Micro-Tech Endoscopy launched the PinPoint Injection Needle, aiming to enhance precision in medical procedures. Meanwhile, Terumo Corporation introduced hypodermic syringes with built-in plunger stops to prevent accidental dislodgement of the plunger.

Recent market developments include collaborations between Medtronic and Stasis in September 2021 to enhance patient monitoring access in India. Additionally, HTL-STREFA unveiled the Droplet MicronTM pen needle in September 2020, featuring an innovative design to optimize the injection process. Furthermore, Albert David Ltd. expanded its manufacturing facility to accommodate the production of disposable syringes and needles meeting both national and international standards.

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Key Segments of Hypodermic Needles (Markt für Injektionsnadeln) Industry Research

By Product :

Safety

Non-safety

By Material :

Stainless Steel

Plastic

By Application :

Drug Delivery

Vaccination

Blood Specimen Collection

By End User :

Hospitals

Diagnostic Centers

Home Healthcare

By Region :

North America

Latin America

Europe

East Asia

South Asia & Oceania

MEA

Contact:

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About Fact.MR :

We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client's satisfaction.

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