What Has Been The Evolution of the Hypodermic Syringes And Needles Market in Recent Years?
The hypodermic syringes and needles market has seen considerable growth due to a variety of factors.
•The market for hypodermic syringes and needles has consistently expanded over the recent years. It is projected to rise from $7.01 billion in 2024 to $7.19 billion in 2025, experiencing a compound annual growth rate (CAGR) of 2.5%.
Factors contributing to this growth during the historic period include advancements in medical technology, increasing cases of chronic diseases, immunization initiatives, rise in the elderly population, growth in healthcare infrastructure, and international health initiatives.
What Is the Forecasted Market Size and Growth Rate for The Hypodermic Syringes And Needles Market?
The hypodermic syringes and needles market is expected to maintain its strong growth trajectory in upcoming years.
• The market for hypodermic syringes and needles is forecasted to experience steady growth over the upcoming years, expanding to $8.74 billion in 2029 with a compound annual growth rate (CAGR) of 5.0%.
This anticipated growth during the forecast period is due to factors such as the increase in biologics and biosimilars, trends in home healthcare, a spike in diabetes cases, heightened attention to infection control, development of drug delivery devices for chronic illnesses, and the surge in e-commerce for medical supplies. Key trends in the forecast period encompass sustainable packaging, technological progress in needle safety, the development of pre-filled syringes and autoinjectors, telehealth and the capability for remote medication administration, as well as strategic collaborations in the manufacturing arena.
What Factors Are Driving Growth In The Hypodermic Syringes And Needles Market?
The anticipated rise in chronic diseases is likely to fuel the expansion of the hypodermic syringes and needles market in the future. The increase in chronic illnesses is primarily due to factors such as growing elderly populations, poor health habits, environmental impacts, and the rising prevalence of risk factors like obesity and lack of physical activity. Hypodermic syringes and needles are crucial in delivering medications, vaccines, and biological treatments effectively to manage chronic diseases by ensuring accurate dosage and administration. For example, data from the Australian Institute of Health and Welfare, an independent Australian government agency that supplies health and welfare statistics for Australians, showed that in 2022, around 15.4 million people, or 61%, were reported to have at least one of the selected long-term health conditions. As a result, the hypodermic syringes and needles market is anticipated to be bolstered by the prevalence of chronic diseases.
What Are The Main Segments Of The Global 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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What Emerging Trends Are Influencing The Growth Of The Hypodermic Syringes And Needles Market?
Primary firms in the hypodermic syringes and needles market are creating cutting-edge passive safety needles in order to establish their dominance in the industry. These needles, intended for injections, are engineered with an inbuilt safety function that activates post-use, effectively covering the needle tip to avoid any accidental pricks without demanding any supplementary efforts from medical practitioners. For example, in January 2023, the MTD Group, a med-tech corporation based in Italy, acquired FDA approval for their product, the DropSafe Sicura passive safety needle. This revolutionary injection needle, developed for intramuscular and subcutaneous delivery of vaccines and other medications, seeks to eradicate the risk of needlestick injuries among health care providers. The DropSafe Sicura features an automatic locking transparent shield post-injection, ensuring a more secure injection procedure without additional activation.
Who Are the Key Players in the Hypodermic Syringes And Needles Market?
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 Is The Most Dominant Region 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
