Hypodermic Needles Market Overview:
Global Hypodermic Needles Market was valued at $2,396 million in 2015, and is expected to garner $3,842 million by 2022, registering a CAGR of 6.9% during the forecast period 2016 - 2022. A hypodermic needle is a hollow needle widely used across medical settings to carry out different applications such as drug delivery, vaccination, and blood specimen collection. These needles function through two different mechanisms, namely safety and non-safety needles. They are used to administer and inject drugs in the body and also to withdraw fluids from the body for examination and research purposes. The demand for hypodermic needles has increased significantly owing to prevent needle-stick injuries. In addition, the active government participation for implementing stringent regulations mandating the use of safety needles to prevent needle re-usage, and growth in demand for injectable drugs & vaccines drives the market growth.
Global Hypodermic Needles Market Segmentation
The hypodermic needles market is segmented based on product type, application, end user, and geography. Based on product type, the market is segmented into safety and non-safety hypodermic needles. The safety hypodermic needles segment is further classified on the basis of type and mode of activation. Based on type, safety hypodermic needles are bifurcated into retractable and non-retractable needles. Based on the mode of activation, safety hypodermic needles are classified into active and passive hypodermic needles. In safety hypodermic needles, by type segment, retractable needles occupied dominant share in 2015, and is expected to maintain this trend during the forecast period. This is attributed to the fact that these needles require less disposal space post activation, when compared with non-retractable needles and also because these needles prevent disposal-related needle-stick injuries.
Drivers, Restraints, and Opportunities
The impact of the driving factors is expected to overshadow the effect of restraints. Moreover, high prevalence of blood-borne diseases and untapped emerging economies are expected to provide new market opportunities to hypodermic needle manufacturers in the near future.
Drivers, Restraints and Opportunities
Global Hypodermic Needles Market Key Product Segment
The passive hypodermic needles hold a significant share in the global hypodermic needles market. This trend is expected to continue during the forecast period.
Safety Hypodermic Needles, By Mode of Activation, 2015 (%)
The key players operating in the global hypodermic needles market include Becton, Dickinson And Company, B. Braun Melsungen AG, Catalent, Inc., Connecticut Hypodermics, Inc., EXELINT International Co., MedPro Safety Products, Inc., Medtronic plc, Retractable Technologies, Inc., Smiths Group plc, and Terumo Medical Corporation.
Other prominent players in the value chain include Albert David, DeRoyal, Hindustan Syringes & Medical Devices Limited, Hi-Tech Syringes, International Medsurg Connection, Medline Industries, Inc., Nipro Medical Corporation, Unilife Corporation, Vita Needle Company, and Vygon.
- The study provides an in-depth analysis of the global hypodermic needles market, with current trends and future estimations to elucidate the imminent investment pockets.
- A quantitative analysis from 2014 to 2022 to enable the stakeholders to capitalize on prevailing market opportunities is discussed.
- Key market players are profiled and their strategies are analyzed thoroughly, which helps understand competitive outlook of the market.
- Porters Five Forces model is expected to interpret the bargaining power of suppliers & buyers, threat of new entrants & substitutes, and competition among the key players.
Hypodermic Needles Market Key Segments:
By Product Type
- Safety Hypodermic Needles, by Type
- Safety Hypodermic Needles, by Mode of Activation
- Active Hypodermic Needles
- Passive Hypodermic Needles
- Non-Safety Hypodermic Needles
- Drug Delivery
- Blood Specimen Collection
By End User
- Diabetic Patients
- Family Practices
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA