Hypodermic Needle Market Size to Reach USD 4,238.9 Billion by 2024: Hexa Research

Monday, November 13, 2017 Research News
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FELTON, California, November 13, 2017 /PRNewswire/ --

The global hypodermic needle market to reach

USD 4,238.9 billion by 2024. Implementation of stringent legislation to reduce needlestick injury and increasing awareness related to safety needles among the healthcare provider is expected to drive the hypodermic needle market over the forecast
period. Furthermore, increasing awareness of the regular immunizations coupled with increasing preference for regular health check-ups will further escalate the demand for hypodermic needles over the forecast period.

Moreover, rising geriatric population, increasing prevalence of diabetes, improving healthcare hygienic sample withdrawal practices in emerging economies such India, China, and Brazil is projected to propel the demand for hypodermic needle over the forecast period. However, the high cost of automated safety needles and the introduction of needleless delivery mechanisms might restrain the market growth in the forecast period.

Worldwide, needlestick injuries are the primary concern for healthcare providers. In the U.S., every year, approximately, 8 to 10 lac needlestick injuries occur to healthcare workers, and about 1000 of them get contacted with infectious diseases, and 500 to 600 die each year due to these type of injuries. The cost of needlestick injury follow-up in the U.S. per incident is approximately USD 3,000, and around USD 3 billion is spent annually in the U.S. on needlestick injuries. Hence, the increasing occurrence of these type of injuries results in the development of improved and effective safety needles.

Browse full research report with TOC on "Hypodermic Needles Market Size and Forecast, By Needle Type (Safety, Non-safety), By End-user (Hospital & Clinic, Diagnostic Lab, Homecare), And Trend Analysis, 2014 - 2024" at: https://www.hexaresearch.com/research-report/hypodermic-needles-market

Safety engineered devices (SEDs) are categorized into passive and active devices. Passive needles are highly preferred over conventional needles owing to its advantages such as user-friendliness and others. Also, with the implementation of the regulations promoting the use of safety hypodermic needles will further enhance the acceptance of these needles over the forecast period. For instance, World Health Organization (WHO) encourages injection safety worldwide through the Safe Injection Global Network (SIGN).

Exposure to needlestick injuries may cause severe blood-borne diseases such as HIV and Hepatitis. Owing to the increasing occurrence of needlestick injuries, healthcare providers are shifting towards the use of safety hypodermic needles. Furthermore, manufacturers are focusing on developing needles and syringes safety-engineered mechanisms to avoid any injuries. For instance, BD has developed SafetyGlide, Vacutainer Eclipse blood collection needle, and VanishPoint blood collection safety needle. Hence, increasing focus on the development of advanced engineered mechanisms about the needles performance and efficiency will further drive the growth.

Browse reports of similar category by Hexa Research: 

  • Hernia Repair Market - Global hernia repair market was valued at USD 4.09 billion in 2016. Increasing pool of obese patients, rising geriatric population and increasing demand for minimally invasive procedures are driving the market over the forecast period.
  • Blood Gas and Electrolyte Analyzers Market - Global blood gas and electrolyte analyzers market is expected to grow at a CAGR of 4.7% during the forecast period (2016-2024). It is estimated to reach around USD 715 million by 2024.
  • Bioelectronics & Biosensors Market - Global bioelectronics and biosensors market was estimated at USD 11.4 billion in 2013. The market is anticipated to grow at a healthy CAGR over 10%, exceeding USD 28 billion in the forecast period (from 2016 to 2024).
  • Home Infusion Therapy Market - Global infusion market was valued at USD 13.0 billion in 2015. Infusion therapy is the procedure usually performed when oral medication treatments are not effective in the patients.

Hexa Research has segmented the global hypodermic needle market based on type, end-use and region: 

Segmentation by product type, 2014 - 2024 (USD Million) 

• Safety Needle

• Non-safety Needle

Segmentation by end-user, 2014 - 2024 (USD Million) 

• Hospitals & Clinic

• Diagnostic Lab

• Homecare

Segmentation by region, 2014 - 2024 (USD Million) 

• North America

    • U.S.

• Europe

    • Germany

• Asia Pacific

    • Japan

    • China

    • India

• Central & South America

    • Brazil

• Middle East & Africa

Key players analyzed:

• Becton, Dickinson, and Company

• Medtronic

• Retractable Technologies

• Terumo Medical Corporation

• Smiths Medical

About Hexa Research 

Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

Contact: Michelle T. Corporate Sales Specialist Hexa Research Phone: +1-415-349-0058 Toll Free: 1-800-489-3075 Email: sales@hexaresearch.com

Web: https://www.hexaresearch.com/

SOURCE Hexa Research


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