Growth, Trends, and Opportunities in the Hypodermic Syringes And Needles Market: Key Insights for the Next Decade
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What is the Long-Term Projected Growth Rate for the Hypodermic Syringes And Needles Market, and What Are the Key Drivers?
The market size of hypodermic syringes and needles has been experiencing consistent growth in the past few years. The market size is forecasted to grow from $7.01 billion in 2024 to $7.19 billion in 2025, marking a compound annual growth rate (CAGR) of 2.5%. The growth observed during the historical period stems from factors such as advancements in the medical field, the widespread occurrence of chronic diseases, implementation of vaccination programs, a growing elderly population, expanding healthcare infrastructure, and global health initiatives.
In the coming years, the market size for hypodermic syringes and needles is anticipated to continuously expand, reaching “$8.74 billion by 2029 with a compound annual growth rate (CAGR) of 5.0%. The projected increase within this period can be attributed to the development in biologics and biosimilars, emerging trends in home healthcare, increasing instances of diabetes, heightened focus on infection control, and the growth of e-commerce in medical supplies. Ascending trends that will be significant within this period include the evolution towards sustainable packaging, technological progression in needle safety, the use of pre-filled syringes and autoinjectors, telehealth and remote drug administration, as well as strategic alliances in production.
What Key Drivers Are Accelerating the Growth of the hypodermic syringes and needles Market During the Forecast Period?
The hypodermic syringes and needles market is anticipated to expand due to the increasing prevalence of chronic diseases. This escalation in chronic illnesses is predominantly due to factors such as the aging populace, unhealthy lifestyle behaviors, environmental factors, and the growing occurrence of risk factors like obesity and inactive lifestyles. Hypodermic syringes and needles play a crucial role in the management of chronic diseases by ensuring accurate delivery and dosage of medications, vaccines, and biological therapies. To illustrate, data from the Australian Institute of Health and Welfare, an independent agency of the Australian Government, revealed that in 2022, roughly 15.4 million people, representing 61%, were reported to have at least one long-term health condition. Consequently, the widespread nature of chronic diseases is projected to drive the growth of the hypodermic syringes and needles market.
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Which Companies Are Leading the Charge in Expanding the Hypodermic Syringes And Needles Market?
Major companies operating in the hypodermic syringes and needles market include:
• Becton Dickinson And Company_x000D_
• B. Braun Melsungen AG_x000D_
• Cardinal Health Inc._x000D_
• Smiths Medical Inc._x000D_
• Terumo Corporation_x000D_
What New Trends Are Reshaping the Hypodermic Syringes And Needles Market and Its Opportunities?
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Which Growth-Oriented Segments of the Hypodermic Syringes And Needles Market Are Leading the Industry’s Development?
The hypodermic syringes and needles market covered in this report is segmented –
1) By Type: Syringes, Needles
2) By Usability: Disposable, Re-Usable
3) By Application: Blood Collection, Drug Delivery, Vaccination, Insulin Administration, Other Applications
4) By End-Use: Hospitals, Ambulatory Surgical Centers, Diagnostic Centers, Other End-Uses
Subsegments:
1) By Syringes: Disposable Syringes, Reusable Syringes, Safety Syringes
2) By Needles: Standard Needles, Safety Needles, Prefilled Needles, Specialty Needles
What Are the Top Regions Fueling Growth in the Hypodermic Syringes And Needles Market?
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
What Defines the Scope of the Hypodermic Syringes And Needles Market?
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.
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