Allied Market Research recently published a report, titled, “Global Hypodermic Needles Market by Products (Safety Hypodermic Needles, Non-safety Hypodermic Needles), by Application (Drug Delivery, Vaccination, Blood Specimen Collection), by End Users (Hospital, Diabetic Patients, Family Practitioners, Psychiatry, Others): Global Opportunity Analysis and Industry Forecast, 2020-2030″. As per the report, the global hypodermic needles market size accounted for $3.3 billion in 2020, and is expected to reach $4.5 billion by 2030, growing at a CAGR of 3.4% from 2020 to 2030.
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Hypodermic Needles Market Overview:
Surge in incidence of chronic & lifestyle diseases, increase in prevalence of diabetes, technological advancements and advanced hypodermic needles solutions have boosted the growth of the global hypodermic needles market. However, availability of alternative modes of drug delivery, high cost of hypodermic needles, and low awareness toward safety syringes hinder the market growth. On the contrary, rise in disposable income, increase in demand for hypodermic needles, and growth prospects in developing countries would open new opportunities in the future.
Hypodermic Needles Market Segmentation:
By products, the safety hypodermic needles segment held the largest share in 2020, accounting for more than three-fourths of the global hypodermic needles market. However, the segment is expected to manifest the highest CAGR of 3.8% during the forecast period, due to increase in prevalence of needlestick injury and safety over conventional needles. The report includes an analysis of the safety hypodermic needs segment.
The drug delivery segment to manifest the highest CAGR through 2030
By application, the drug delivery segment is projected to register the highest CAGR of 3.5% during the forecast period. However, the segment held the largest share in 2020, contributing to around 90% of the global hypodermic needles market, owing to surge in prevalence of infectious diseases, use for vaccination, and increase in incidences of diabetes. The report includes analysis the vaccination and blood specimen collection segments.
Asia-Pacific held the largest share
By region, the global hypodermic needles market across Asia-Pacific held the largest share in 2020, accounting for more than two-fifths of the market. Moreover, the region is expected to showcase the highest CAGR of 4.0% during the forecast period, owing to rise in healthcare expenditures, presence of high population base, and prevalence of chronic diseases.
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Hypodermic Needles Market: By Region Outlook
North America (U.S., Canada)
Europe (France, Germany, UK, Italy, Spain, Netherlands, Austria)
Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
Important Questions Being Answered by the Hypodermic Needles Market Report:
What is the Hypodermic Needles market size and growth?
What are the prominent and latest trends impacting the market?
Which is the largest regional market for Hypodermic Needles?
The report provides extensive competitive analysis and profiles of key market players, such as Becton, Dickinson and Company, B. BRAUN MELSUNGEN AG, Cardinal Health Inc., CONNECTICUT HYPODERMICS INC., EXELINT INTERNATIONAL CO., McKesson Corporation, Hitech Syringes, Retractable Technologies, Inc., Nipro Corporation, TERUMO MEDICAL CORPORATION
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