Hypodermic Syringes & Needles Market Analysis

Hypodermic Syringes & Needles Market Analysis

In 2022, the needles segment held around 53% share in the hypodermic syringes & needles market and is slated to depict the highest CAGR between 2023 and 2032 owing to the emergence of vaccination campaigns, their surging usage in medical procedures that incorporate hypodermic needles, and the improving access to diabetes care. Hypodermic needles are extensively used in drawing blood, injecting medications, or conducting diagnostic tests, and thus, they are foreseen to attract positive momentum to perform surgeries, blood donations, or chronic disease management.
 

In terms of usability, the disposable hypodermic syringes & needles market is set to amass a valuation of over USD 9 billion by 2032, the report claims. Compared to their reusable counterparts, disposable syringes and needles offer several benefits, such as greater safety, a decreased risk of contamination and infection, and better convenience. As disposable syringes and needles are made for single use, they are less susceptible to contracting any illness from bacteria or viruses on contaminated surfaces, which is a key factor stimulating product adoption.
 

Hypodermic syringes & needles market valuation from drug delivery applications is set to exceed USD 4 billion by 2032 propelled by the surging adoption of hypodermic needles & syringes for delivering a broad range of therapeutics in line with ongoing advancements in the technology that have led to the development of less-invasive needles, thinner needles, and needle-free injection systems. In a recent study, a team of researchers concluded that the development of microneedle-based transdermal delivery for drugs and peptides is likely to supplement segment expansion in the future.
 

The hypodermic syringes & needles market from hospitals segment is set to be valued at more than USD 5 billion by 2032 as a result of the latest development in medical technology, increased awareness regarding infection control, and the need for accurate and precise medication administration in hospital settings. Notably, these devices are minimally invasive and thus, cause limited pain or discomfort when used correctly.
 

North America hypodermic syringes & needles market is anticipated to surpass a valuation of USD 2.5 billion by 2032 attributed to the booming prevalence of cardiovascular diseases and diabetes as well as novel product launches, especially in the U.S. Moreover, government initiatives aimed at increasing access to public health are projected to drive market growth. To cite an instance, the U.S. bilateral global health security partnership contributes nearly USD 1.56 billion to support the health workforce.