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Hypodermic Needle Market by Type, Site of Delivery, Usability Drivers, Growth Opportunities and Key Players

by Pramod Kumar Digital Marketing Professional
Pramod Kumar Advanced Digital Marketing Professional
The global hypodermic needle market is projected to grow at a CAGR of 7.4% during 2016–2022. The major factors driving the growth of the market are the increasing geriatric population, demand for vaccines and better compliance of safety needles, and prevalence of chronic and lifestyle-associated diseases. The hollow needles used for extracting body fluids or injecting drugs or other substances into the bodily are referred to as hypodermic needles. They are used by healthcare professionals for the treatment and diagnosis of various diseases.

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On the basis of type, the hypodermic needle market is categorized into safety and non-safety needles. Out of these, safety needles occupied the larger share of the market during the historical period (2012–2015). The category is further predicted to grow at the faster pace during the forecast period. This is attributed to the integration of safety features in these needles, which are either automatically/semi-automatically or manually activated. Safety hypodermic needles ensure safe delivery of drug or medication, and these are also easy to use.

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The adoption of hypodermic needles in emerging markets is creating opportunities for players looking to invest in it. Developing countries, such as Brazil, India, and China, have a large population base but don’t have as many primary healthcare facilities as required. In addition, the rate of chronic diseases is high in these countries due to the lack of healthcare awareness. The expected growth of the hypodermic needle market in emerging economies would then be attributed to the increasing healthcare expenditure, regulatory initiatives for needle stick injuries, and rising healthcare awareness.

Thus, the increasing adoption of hypodermic needles in developing nations, increasing demand for vaccination, and better compliance of safety needles are driving the market.
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https://www.psmarketresearch.com/market-analysis/hypodermic-needles-market
Nov 20th 2019 05:37

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