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Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. 

Hypodermic Needle Market to Grow $4,238.9 Billion by 2024

The global Hypodermic Needle Market to reach USD 4,238.9 billion by 2024. Implementation of stringent legislation to reduce needlestick injury and increasing awareness related to safety needles among the healthcare provider is expected to drive the hypodermic needle market over the forecast period. Furthermore, increasing awareness of the regular immunizations coupled with increasing preference for regular health check-ups will further escalate the demand for hypodermic needles over the forecast period.

 

Moreover, rising geriatric population, increasing prevalence of diabetes, improving healthcare hygienic sample withdrawal practices in emerging economies such India, China, and Brazil is projected to propel the demand for hypodermic needle over the forecast period. However, the high cost of automated safety needles and the introduction of needleless delivery mechanisms might restrain the market growth in the forecast period.

 

Hypodermic Needle Market to Grow $4,238.9 Billion by 2024

 

Worldwide, needlestick injuries are the primary concern for healthcare providers. In the U.S., every year, approximately, 8 to 10 lac needlestick injuries occur to healthcare workers, and about 1000 of them get contacted with infectious diseases, and 500 to 600 die each year due to these type of injuries. The cost of needlestick injury follow-up in the U.S. per incident is approximately USD 3,000, and around USD 3 billion is spent annually in the U.S. on needlestick injuries. Hence, the increasing occurrence of these type of injuries results in the development of improved and effective safety needles.

 

Safety engineered devices (SEDs) are categorized into passive and active devices. Passive needles are highly preferred over conventional needles owing to its advantages such as user-friendliness and others. Also, with the implementation of the regulations promoting the use of safety hypodermic needles will further enhance the acceptance of these needles over the forecast period. For instance, World Health Organization (WHO) encourages injection safety worldwide through the Safe Injection Global Network (SIGN).

 

Exposure to needlestick injuries may cause severe blood-borne diseases such as HIV and Hepatitis. Owing to the increasing occurrence of needlestick injuries, healthcare providers are shifting towards the use of safety hypodermic needles. Furthermore, manufacturers are focusing on developing needles and syringes safety-engineered mechanisms to avoid any injuries. For instance, BD has developed SafetyGlide, Vacutainer Eclipse blood collection needle, and VanishPoint blood collection safety needle. Hence, increasing focus on the development of advanced engineered mechanisms about the needles performance and efficiency will further drive the growth.

 

Browse Details of Report @ Hypodermic Needle Market Report

 

Hexa Research has segmented the global hypodermic needle market based on type, end-use and region:

 

Segmentation by product type, 2014 - 2024 (USD Million)

  • Safety Needle
  • Non-safety Needle

 

Segmentation by end-user, 2014 - 2024 (USD Million)

  • Hospitals & Clinic
  • Diagnostic Lab
  • Homecare

 

Segmentation by region, 2014 - 2024 (USD Million)

  • North America
  • U.S.
  • Europe
  • Germany
  • Asia Pacific
  • Japan
  • China
  • India
  • Central & South America
  • Brazil
  • Middle East & Africa

 

Key players analyzed:

  • Becton, Dickinson, and Company
  • Medtronic
  • Retractable Technologies
  • Terumo Medical Corporation
  • Smiths Medical

 

Browse Related Category Market Reports @ Medical Devices Industry