According to our latest study on “Hypodermic Needles Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Application, End User, and Usage,” the market is projected to reach US$ 5,529.28 million by 2028 from US$ 3,519.53 million in 2021; it is expected to grow at a CAGR of 6.7% from 2021 to 2028. The report highlights the key factors driving the market growth and prominent players with their developments in the market.
The COVID-19 pandemic has necessitated rapid vaccine development for the control of the virus spread. Most vaccinations, including those currently approved for COVID-19, are administered intramuscularly and subcutaneously using hypodermic needles.
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The global COVID-19 pandemic led to increased hospital admissions followed by tests and medications that spurred the growth of market growth. The rise in COVID-19 vaccinations resulted in the enormous demand for needles and syringes. The vaccine campaign highlighted the utility of needles. Major market players capitalized the opportunity to quench the unprecedented demand for single-use needles. The pandemic necessitated the rapid vaccine development for curbing the disease. The vaccines approved for COVID-19 prevention were administered intramuscularly and subcutaneously using hypodermic needles. Several manufacturers maintained the robust supply chain to meet the requirement for continuous vaccination during the pandemic.
Based on application, the hypodermic needles market is segmented into drug delivery, vaccination, and blood specimen collection. The drug delivery segment held the largest share of the market in 2021. The segment is expected to register the highest CAGR during the forecast period.
Leading Manufacturers Outlook- EXELINT International, Co, Terumo Corporation, BD, B. Braun Melsungen AG, Catalent Inc, Cardinal Health Inc, Vita Needle Company, Connecticut Hypodermics Inc, Vygon, Nipro, Barber of Sheffield, RETRACTABLE TECHNOLOGIES, INC, and AIR-TITE PRODUCTS CO, INC. are among the leading companies operating in the global hypodermic needles market.
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The report segments the hypodermic needles market as follows:
The hypodermic needles market is segmented on the basis of type, application, end user, and usage. Based on type, the market is bifurcated into safety needles and non-safety needles. The market for the safety needles segment is further bifurcated into retractable needles and non-retractable needles. Based on application, the market is segmented into drug delivery, vaccination, and blood specimen collection. The hypodermic needles market, by end user, is segmented into hospitals and clinics, diagnostic centers, and home health care. Based on usage, the market is bifurcated into disposable and reusable.
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