Hypodermic Syringes and Needles Global Market Report 2024

The hypodermic syringes and needles market has grown steadily in recent years. It will grow from $7 billion in 2023 to $7.21 billion in 2024 at a compound annual growth rate (CAGR) of 3.0%. The expansion observed during the historical period can be attributed to factors such as medical advancements, the prevalence of chronic diseases, vaccination programs, growth in the geriatric population, expansion of healthcare infrastructure, and global health initiatives.

The hypodermic syringes and needles market is expected to see steady growth in the next few years. It will grow to $8.33 billion in 2028 at a compound annual growth rate (CAGR) of 3.7%. The anticipated growth in the forecast period can be attributed to factors such as the growth in biologics and biosimilars, trends in home healthcare, an increase in diabetes cases, a focus on infection control, the use of drug delivery devices for chronic conditions, and the growth of e-commerce in the medical supplies sector. Major trends expected in the forecast period include the adoption of sustainable packaging, technological advances in needle safety, the prevalence of pre-filled syringes and autoinjectors, the integration of telehealth and remote medication administration, and the formation of strategic partnerships in manufacturing within the hypodermic syringes and needles market.

The hypodermic syringes and needles market is expected to experience a significant boost due to the growing demand for these medical devices. Syringes and needles play a crucial role in injecting or withdrawing bodily fluids, with a syringe consisting of a cylindrical barrel, plunger, and an attachable tip. Needles are slender, hollow, and sharp devices connected to the end of a syringe. These instruments are vital for the precise and accurate delivery of medications and other liquids, making them indispensable in medical treatment and care. Notably, in April 2022, the Aesthetic Society reported a 54% increase in surgical procedures in 2021, emphasizing the rising demand for syringes and needles in medical applications.

The surge in surgical procedures is anticipated to be a key driver for the growth of the hypodermic syringes and needles market. Surgical procedures, performed by qualified medical professionals, often involve the administration of medications or other substances through injections. Hypodermic syringes and needles are essential tools for delivering controlled and precise doses of these substances. For example, in October 2023, the Organization for Economic Co-operation and Development revealed an 8.4% increase in cataract surgical procedures in the Czech Republic, with 142,670 procedures in 2022 compared to 131,612 in 2021, illustrating the growing need for these medical devices.

A notable trend in the hypodermic syringes and needles market is the emphasis on product innovations by major companies. To maintain market share, these companies focus on developing new and advanced products. In June 2021, Hindustan Syringes & Medical Devices introduced the DispoJekt Safety Needle, a single-use needle designed to prevent needle stick injuries and enhance patient safety. This innovative product, made from high-quality medical-grade materials, offers versatility and convenience, being compatible with various syringe brands.

Major companies in the hypodermic syringes and needles market are investing in the development of pre-fillable glass syringe systems. These systems are designed for the storage and administration of pharmaceuticals, vaccines, or other injectable substances. For instance, in September 2023, Nipro Corporation launched the D2F Pre-fillable Glass Syringe System - Silicone Oil-Free, addressing the pharmaceutical industry's need for products sensitive to silicone oil. This system aims to meet the increasing demand for injection systems that ensure optimal performance and reduce the risk of interaction-related issues in delivering biotech drugs and other sensitive pharmaceuticals.

In July 2022, Sharps Technology, a US-based technology company, acquired Safeguard Medical for $2.5 million, aiming to expand manufacturing capabilities and enhance product offerings in safety-engineered medical devices, including syringes. Hungary-based Smart Syringe, a medical device company, focuses on developing and manufacturing syringes to improve patient care and healthcare outcomes.

Major companies operating in the hypodermic syringes and needles market report are Becton Dickinson And Company, B. Braun Melsungen AG, Cardinal Health Inc., Smiths Medical Inc., Terumo Corporation, Nipro Corporation, Connecticut Hypodermics Inc., Medline Industries LP, EXELINT International Co., Vita Needle Company, Vitrex Medical A/S, Hi-Tech Syringes Pvt. Ltd., Hindustan Syringes & Medical Devices, Gerresheimer AG, Teleflex Incorporated, Bioject Medical Technologies Inc., Catalent Pharma Solutions, DeRoyal Industries Inc., Hamilton Medical AG, Hospira Inc., International Medication Systems Limited, MedPro Safety Products Inc., Owen Mumford Inc., Covidien plc, Schott AG, Codan Medizinische Geräte GmbH & Co. KG, Helapet Ltd., Vygon S.A., Medtronic plc, Allison Medical Inc., Argon Medical Devices Inc.

North America was the largest region in the hypodermic syringes and needles market in 2023. 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. The countries covered in the hypodermic syringes and needles market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main types of hypodermic syringes and needles include syringes and needles. Syringes are cylindrical devices equipped with a plunger for injecting or withdrawing bodily fluids. Hypodermic syringes serve various medical purposes, including blood collection through venipuncture. They are available in disposable and reusable models and are applied in diverse medical applications such as blood collection, drug delivery, vaccination, insulin administration, and more. These devices find usage in hospitals, ambulatory surgical centers, diagnostic centers, and various other healthcare end-users.

The hypodermic syringes and needles market research report provides hypodermic syringes and needles market statistics, including hypodermic syringes and needles industry global market size, regional shares, competitors with an hypodermic syringes and needles market share, detailed hypodermic syringes and needles market segments, market trends and opportunities, and any further data you may need to thrive in the hypodermic syringes and needles industry. This hypodermic syringes and needles market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The hypodermic syringes and needles market revenues includes earned by entities by vacutainer and other consumables, such as pistons, sharps, and sterile containers. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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