Press release
Emerging Trends to Drive Hypodermic Syringes And Needles Market Growth at 4.8% CAGR Through 2029
Hypodermic Syringes And Needles Market
Hypodermic Syringes And Needles Market Size Growth Forecast: What to Expect by 2025?
Over the past few years, there has been a slight increase in the market size for hypodermic syringes and needles. It is anticipated to expand from $7.01 billion in 2024 to $7.13 billion in 2025, witnessing a compound annual growth rate (CAGR) of 1.6%. Factors such as advancements in medical technology, rising instances of chronic illnesses, immunization initiatives, the growth of the aging population, enhancement of healthcare infrastructure, and worldwide health campaigns serve as the primary reasons behind the growth recorded in the historic period.
How Will the Hypodermic Syringes And Needles Market Size Evolve and Grow by 2029?
Over the coming years, the market for hypodermic syringes and needles is predicted to experience consistent growth, reaching a projected value of $8.58 billion by 2029 with a CAGR of 4.8%. This upward trend can be credited to factors such as the rise in biosimilars and biologics, increased prevalence of home healthcare, escalating diabetes incidences, focus on controlling infections, chronic condition drug delivery devices, and the expansion of medical supplies through e-commerce. Noteworthy market trends for the forecast period encompass sustainable packaging, needle safety technology advancements, the emergence of pre-filled syringes and autoinjectors, the growth of telehealth and remote drug administration, as well as strategic alliances in manufacturing.
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What Drivers Are Propelling the Growth of Hypodermic Syringes And Needles Market Forward?
Chronic diseases' widespread occurrence is anticipated to spur the expansion of the hypodermic syringes and needles market in the future. Factors such as aging populations, unhealthy lifestyles, environmental factors, and the growing incidence of risk factors like obesity and a sedentary lifestyle primarily fuel this surge in chronic diseases. Hypodermic syringes and needles, which are essential for the delivery of medications, vaccines, and biological therapies, play a critical role in efficiently managing chronic diseases by ensuring exact dosage and delivery. For instance, the Australian Institute of Health and Welfare, an independent Australia-based agency of the Australian Government, reported in June 2024 that in 2022, about 15.4 million individuals, constituting 61%, were found to have at least one of the chosen long-term health conditions. Consequently, the rise in chronic diseases is set to fuel the growth of the hypodermic syringes and needles market.
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Which Emerging Trends Are Transforming the Hypodermic Syringes And Needles Market in 2025?
Prominent businesses in the hypodermic syringes and needles sector are creating sophisticated innovative passive safety needles to achieve a competitive advantage. The passive safety needle is an injection needle equipped with an automatic safety feature that triggers post-use, thereby effectively covering the needle tip to avert needlestick injuries, without necessitating extra actions by medical staff. For example, in January 2023, MTD Group, a med-tech firm from Italy, obtained FDA approval for its DropSafe Sicura passive safety needle. This groundbreaking injection needle is intended for intramuscular and subcutaneous dispensation of vaccines and various medications, with the goal to rid healthcare professionals (HCPs) of needlestick injuries. The DropSafe Sicura features an automatic locking transparent barrier after injection, requiring zero additional activation, guaranteeing a more secure injection procedure.
What Are the Key Segments in the Hypodermic Syringes And Needles Market?
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
Subsegments:
1) By Syringes: Disposable Syringes, Reusable Syringes, Safety Syringes
2) By Needles: Standard Needles, Safety Needles, Prefilled Needles, Specialty Needles
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Who Are the Key Players Shaping the Hypodermic Syringes And Needles Market's Competitive Landscape?
Major companies operating in the hypodermic syringes and needles market include Becton Dickinson And Company, B. Braun Melsungen AG, Cardinal Health Inc., Smiths Medical Inc., Terumo Corporation, Nipro Corporation, Medline Industries LP, EXELINT International Co., Vitrex Medical A/S, Gerresheimer AG, Teleflex Incorporated, Catalent Pharma Solutions, DeRoyal Industries Inc., Hospira Inc., Owen Mumford Inc., Covidien plc, Schott AG, Codan Medizinische Geräte GmbH & Co. KG, Helapet Ltd., Vygon S.A., Medtronic plc, Argon Medical Devices Inc.
What Geographic Markets Are Powering Growth in the Hypodermic Syringes And Needles Market?
North America was the largest region in the hypodermic syringes and needles market in 2024. The regions covered in the hypodermic syringes and needles market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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