Hypodermic Syringes And Needles Market Forecast Reaching $8.74 Billion by 2029 at 5% CAGR
Discover trends, market shifts, and competitive outlooks for the hypodermic syringes and needles industry through 2025-2034 with The Business Research Company’s reliable data and in-depth research
#What Are the Key Projections for the CAGR of the Hypodermic Syringes And Needles Market Size From 2025 to 2034?#_x000D_
In recent times, there has been a consistent incline in the market size of hypodermic syringes and needles. Projections indicate an increase from $7.01 billion in 2024 to about $7.19 billion in 2025, with a compound annual growth rate (CAGR) of 2.5%. The factors driving the growth during the historic period include advancements in medical technology, increased occurrence of chronic diseases, implementation of vaccination programs, an aging population, development of healthcare facilities, and worldwide health initiatives._x000D_
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The market size of hypodermic syringes and needles is predicted to grow steadily over the next several years, rising to a valuation of “$8.74 billion by 2029 with a compound annual growth rate (CAGR) of 5.0%. Factors that contribute to this projected growth throughout the forecast period include the expansion in biologics and biosimilars, increasing home healthcare trends, surge in diabetes cases, emphasis on infection control, and the use of drug delivery devices for chronic conditions, along with e-commerce development within the medical supplies sector. Key trends to observe in the forecast period consist of sustainable packaging, evolution of needle safety technology, pre-filled syringes and autoinjectors, developments in telehealth and remote drug administration, as well as strategic alliances in manufacturing._x000D_
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#Which Major Market Drivers Are Expected to Boost the Growth Potential of the Hypodermic Syringes And Needles Market?#_x000D_
Anticipated forward momentum in the market for hypodermic syringes and needles is thought to be underpinned by the increasing incidence of chronic diseases.The upward trend of chronic diseases can be traced back to various factors such as an aging demographic, unhealthy living habits, environmental factors, and the growing prevalence of risk factors such as obesity and a lack of physical exertion. Hypodermic syringes and needles play a crucial role in dispensing medications, vaccines, and biological therapies for effective management of chronic diseases, guaranteeing accurate dosage and transmission. Case in point, the Australian Institute of Health and Welfare, an autonomous organization of the Australian Government, reported in June 2024 that in 2022, roughly 15.4 million individuals or 61% of the population were recorded as living with at least one long-term health condition. Hence, the omnipresence of chronic diseases will push the hypodermic syringes and needles market._x000D_
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#Which Key Market Segments Comprise the Hypodermic Syringes And Needles Market and Drive Its Revenue Growth?#_x000D_
The hypodermic syringes and needles market covered in this report is segmented –_x000D_
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1) By Type: Syringes, Needles_x000D_
2) By Usability: Disposable, Re-Usable_x000D_
3) By Application: Blood Collection, Drug Delivery, Vaccination, Insulin Administration, Other Applications_x000D_
4) By End-Use: Hospitals, Ambulatory Surgical Centers, Diagnostic Centers, Other End-Uses_x000D_
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Subsegments:_x000D_
1) By Syringes: Disposable Syringes, Reusable Syringes, Safety Syringes_x000D_
2) By Needles: Standard Needles, Safety Needles, Prefilled Needles, Specialty Needles_x000D_
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#Which Areas Are Leading Regions in the Hypodermic Syringes And Needles Market Expansion Across the Globe?#_x000D_
North America was the largest region in the hypodermic syringes and needles market in 2024. 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_x000D_
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#What Are the Key Market Trends in theHypodermic Syringes And Needles Market Over the Coming Years?#_x000D_
Leading firms in the hypodermic syringes and needles arena are devising cutting-edge, innovative passive safety needles to achieve a competitive advantage. A passive safety needle is an injection needle equipped with an automatic safety feature that kicks in after use, effectively covering the needle tip to avoid needlestick accidents without additional intervention by the medical professional. For example, in January 2023, MTD Group, a med-tech firm based in Italy, was granted FDA approval for its DropSafe Sicura passive safety needle. This ground-breaking needle is designed specifically for the intramuscular and subcutaneous delivery of vaccines and other medications, aiming to eradicate needlestick wounds among healthcare providers. The DropSafe Sicura boasts an automatic lock transparent shield after injection, necessitating no additional operation, ensuring a safer injection procedure._x000D_
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#How Is the Hypodermic Syringes And Needles Market Conceptually Defined?#_x000D_
Hypodermic syringes and needles are medical devices used to inject or withdraw bodily fluids or medications. The syringe consists of a barrel, a plunger, and a tip or hub where the needle is attached._x000D_
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