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According to our latest study on Hypodermic Needles Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Application, End User, and Usage, the market is projected to reach US$ 5,529.28 million by 2028 from US$ 3,519.53 million in 2021; it is expected to grow at a CAGR of 6.7% from 2021 to 2028. The report highlights the key factors driving the market growth and prominent players with their developments in the market. The growth of the hypodermic needles market is primarily attributed to the increasing prevalence of chronic diseases and surging demand for vaccines. However, the availability of alternatives hinders the market growth.

Chronic diseases, such as diabetes, cardiovascular disorders, autoimmune disorders, and various types of cancer, are the leading causes of death and disability, worldwide. As per the Centers for Disease Control and Prevention (CDC), in 2019, around 6 in 10 people suffered from at least one chronic disease in the US. As per the Centers for Disease Control and Prevention (CDC), in 2019, around 6 in 10 people suffered from at least one chronic disease in the US. Cardiovascular diseases (CVDs) are a significant cause of mortality across the world. As per the WHO, CVDs are the leading cause of death globally, taking an estimated 17.9 million lives each year. The sedentary lifestyle and unhealthy food habits have been supporting the prevalence of CVDs among consumers. Diabetes is another life-threatening chronic disease with no functional cure.

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Diabetes of all types can lead to various complications in different parts of the body and increase the overall risk of premature death. Heart attack, stroke, kidney failure, leg amputation, vision loss, and nerve damage are the major complications associated with diabetes. According to the International Diabetes Federation (IDF), in 2019, ~463 million adults were living with diabetes, which is expected to reach 700 million by 2045. In diabetic patients, the exogenous insulin is usually administered through a subcutaneous route of administration for diabetes management. The wide acceptance of hypodermic needles for insulin delivery, enabling self-administration and accurate dosing, is driving the hypodermic needles market significantly. Also, most biotherapeutics are injected using a hypodermic needle injection as they provide a low-cost, rapid, and direct way to deliver almost any type of molecule into the body. Hence, the adoption of the hypodermic needle is increasing, leading to high market growth.

The hypodermic needles market is segmented on the basis of type, application, end user, and usage. Based on type, the market is bifurcated into safety needles and non-safety needles. The market for the safety needles segment is further bifurcated into retractable needles and non-retractable needles. Based on application, the market is segmented into drug delivery, vaccination, and blood specimen collection. The hypodermic needles market, by end user, is segmented into hospitals and clinics, diagnostic centers, and home health care. Based on usage, the market is bifurcated into disposable and reusable.

Based on type, the hypodermic needles market is bifurcated into safety needles and non-safety needles. The market for the safety needles segment is further bifurcated into retractable needles and non-retractable needles. The safety needles segment held a larger share of the market in 2021 and is expected to register a higher CAGR in the market during the forecast period.

Based on application, the hypodermic needles market is segmented into drug delivery, vaccination, and blood specimen collection. The drug delivery segment held the largest share of the market in 2021 and is anticipated to register the highest CAGR in the market during the forecast period. The increasing prevalence of diabetes propelled the demand for hypodermic and insulin syringes.

Based on end user, the hypodermic needles market is segmented into hospitals and clinics, diagnostic centers, and home health care. The hospitals and clinics segment held the largest share of the market in 2021. However, the diagnostic centers segment is estimated to register the highest CAGR during the forecast period.

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Based usage, the hypodermic needles market is bifurcated into disposable and reusable. The disposable segment held the largest share of the market in 2021 and is estimated to register the highest CAGR during the forecast period. Due to their ready to use property and cost effectiveness, disposable syringes are rapidly replacing traditional syringes. Also, the transmission of blood-borne infections is rising. Thus, safer products are introduced in the disposable syringes market.

EXELINT International, Co.; Terumo Corporation; BD; B. Braun Melsungen AG; Catalent Inc; Cardinal Health Inc; Vita Needle Company; Connecticut Hypodermics Inc.; Vygon; Nipro; Barber of Sheffield; RETRACTABLE TECHNOLOGIES, INC.; and AIR-TITE PRODUCTS CO., INC. are a few leading companies operating in the hypodermic needles market.

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