Global Hypodermic Needles Market - Global Opportunity Analysis and Industry Forecast, 2018-2026

Market Overview:

The global hypodermic needles market was worth $3,496 million in 2018, and is estimated to reach $4,942 million by 2026, growing at a CAGR of 7% from 2018 to 2026. A hypodermic needle is a hollow needle that is commonly used in medical settings for a variety of purposes including medicine delivery, vaccination, and blood specimen collection. Safety and non-safety needles are two types of needles that work in distinct ways. They are used to give and inject medications into the body, as well as to remove bodily fluids for inspection and research. Because of the need to avoid needle-stick injuries, the demand for hypodermic needles has skyrocketed. Furthermore, the market is driven by active government intervention in the implementation of rigorous rules mandating the use of safety needles to avoid needle re-use, as well as an increase in demand for injectable medications and vaccinations.

The market for hypodermic needles is divided into four categories: product type, application, end user, and geography. The market is divided into safety and non-safety hypodermic needles based on product type. The section of safety hypodermic needles is further divided into types and modes of activation. Safety hypodermic needles are divided into retractable and non-retractable needles based on their type. Safety hypodermic needles are divided into active and passive hypodermic needles based on how they are activated. Retractable needles dominated the safety hypodermic needles market by type segment in 2015, and this trend is projected to continue over the forecast period. This is due to the fact that, when compared to non-retractable needles, these needles demand less disposal space after activation and also avoid disposal-related needle-stick injuries.

Opportunities, Constraints, and Drivers

The influence of driving variables is predicted to outweigh the influence of restraints. Furthermore, the high frequency of blood-borne disorders and unexplored growing economies are projected to present hypodermic needle producers with additional market prospects in the near future.