Global Hypodermic Needles Market: Overview
The global hypodermic needles market is likely to exhibit robust growth. The increasing prevalence of chronic ailments and a rising geriatric population are the key factors boosting the market. The growth witnessed by this market is mainly driven by the role played by hypodermic needles in research activities. These needles also reduce the chances of contamination of fluid used during the injection of a sterile substrate.
Hypodermic needles are hollow and are attached to hypodermic syringes to extract and inject fluids from the body. These needles have a long cylindrical shape with a puncturing point at the tip that pierces the patient’s skin. These needles can be reusable as well as disposable. Reusable needles are mainly used by diabetes patients to administer their insulin shots. However, it is very important to sterilize the reusable needles before using them in order to avoid infections of any kind. The rising prevalence of diabetes has therefore emerged as a crucial factor fuelling demand from the global hypodermic needles market.
The report provides a holistic overview of the global hypodermic needles market. It studies the various growth drivers and restraints influencing the market. In order to study its competitive landscape, the report also profiles some of the most prominent enterprises operating therein. The market has been segmented on the basis of various parameters for the purpose of the study. The report includes an overview of the present market dynamics, prevailing trends, historical development, and future outlook of the market across major regional segments.
Global Hypodermic Needles Market: Drivers, Restraints, and Market Segmentation
Governments around the world have been implementing various regulations aimed at curtailing the incidence of needle-stick injuries. These legislations mandate the safe usage of needles to avert the risk of infections. The implementation of such stringent regulations has been crucial in stimulating demand from the global hypodermic needles market. The growth exhibited by the market is also supported by the introduction of the latest technologies in hypodermic needle-based delivery of drugs.
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On the flip side, the risk of infections associated with administering drugs using hypodermic needles, the increasing incidence of needle-stick injuries, and the presence of alternatives may restrain the growth of the global hypodermic needles market. Nevertheless, the market is expected to gain from the launch of novel products and the growing trend of public–private partnerships between manufacturing companies and government organizations.
By type, the global hypodermic needles market can be segmented into safety needles and nonsafety needles. In terms of application, the market can be classified into diagnostic centers, hospitals, and home health care. Regionally, the global hypodermic needles market can be classified into North America, Asia Pacific, Europe, and Rest of the World.
Global Hypodermic Needles Market: Regional Outlook
Regionally, North America dominates the global hypodermic needles market. The increasing geriatric population in the region and the rising prevalence of chronic diseases have been fuelling demand for hypodermic needles in North America. The regional hypodermic needle market is also gaining from the implementation of favorable regulations by governments. Apart from this and driven by increasing demand from India, China, and Japan, Asia Pacific is expected to exhibit attractive opportunities for the market.
Some of the leading companies operating in the market are Terumo Corp., Albert David Ltd., Dickinson and Company, Becton, and Connecticut Hypodermics Inc. A SWOT analysis is conducted to study strengths and weaknesses of these companies. The analysis also helps in examining the opportunities and threats that these companies could face in the coming years.