The global hypodermic needle market is expected to advance at a CAGR of 7.4% during 2016–2022 (forecast period). Rise in the prevalence of chronic and other lifestyle-associated diseases and surge in geriatric population across the world are the key factors supporting the market growth. Further, increasing concerns with respect to needlestick injuries are driving the market demand for safety hypodermic needles. Moreover, in view of the rising incidence of needlestick injuries, the Safe Injection Global Network (SIGN) of the World Health Organization (WHO) regularly hosts and coordinates events to promote safe injection practices across the world.
Hypodermic needles are used with syringes to inject into and extract fluids from the body. Hypodermic needles are hollow, long, cylindrical needles with a small opening at the tip, which is meant for piercing into the patient’s skin. These needles come in two forms: disposable and reusable. Reusable needles need to be sterilized before reuse. These needles are mostly used by patients suffering from diabetes, who are required to administer insulin themselves. These needles are also increasingly being used in research organizations to reduce contamination during inoculation.
GLOBAL HYPODERMIC NEEDLE MARKET SPLIT BY TYPE (2015)
Based on type, the hypodermic needle market is bifurcated into safety and non-safety needles. Of the two, safety needles hold the larger share in the market, mainly due to the fact that these needles have a safety mechanism that prevents needlestick injuries. Non-safety hypodermic needles, on the other hand, do not have a safety mechanism, due to which product adoption is low in this category. Moreover, since safety needles are manufactured in compliance with the safety standards, they are witnessing increased adoption across the world.
The hypodermic needle market for safety needles is classified into passive and active needles, based on the mode of activation. Between the two, the passive needle category held the larger share in the market in 2015 and is also expected to be the faster-growing category during the forecast period. Factors such as automatic safety mechanism and ease of use associated with these needles are fueling their demand in the market.
North America leads the hypodermic needle market, globally. The market in this region is expected to advance at a considerable rate in the coming years. Rising prevalence of chronic and lifestyle-associated diseases and increasing focus on the use of safe injection technologies are driving the demand for hypodermic needles in the region. However, Asia-Pacific (APAC) is expected to the fastest-growing regional market for hypodermic needles. This can be ascribed to the growing awareness on the safe usage of syringes and improving healthcare infrastructure in the region. In APAC, China is expected to witness the fastest growth in demand for hypodermic needles during the forecast period.
Some of the key players operating in the global hypodermic needle market are Vygon S.A., Catalent Inc., Terumo Corporation, Retractable Technologies Inc., Connecticut Hypodermics Inc., MedPro Safety Products Inc., B. Braun Melsungen AG, Albert David Ltd., Medtronic plc, and Becton, Dickinson and Company.
Key Questions Answered in the Report
What is the current scenario of the global hypodermic needle market?
What are the emerging technologies for the development of hypodermic needles?
What are the key market segments and their market size and future potential?
What are the major catalysts for the market and their impact during the short, medium, and long terms?
What are the evolving opportunities for the players in the market?
What are the key regions from the investment perspective?
What are the key strategies adopted by the major players to expand their market share?