According to Inkwood Research, the Global Hypodermic Needles Market is estimated to grow with a CAGR of 4.60% in terms of revenue across the forecast period of 2023-2032.
“Browse 51 market Data Tables and 48 Figures spread over 160 Pages, along with an in-depth TOC on the Global Hypodermic Needles Market Forecast 2023-2032.”
A hypodermic needle entails a medical equipment that is used in conjunction with a syringe. Moreover, it is hollow in structure. Hypodermic needles are useful in conducting research in hospitals, as well as medical settings by dentists, physicians, surgeons, and various other medical professionals.
Increasing Demand for Vaccines & Injectable Drugs Fuels Market Growth
The rising incidence of COVID-19, coupled with infectious diseases such as influenza, has led to a significant increase in the delivery of vaccines. Furthermore, technological advancements, as well as government healthcare expenditures in the healthcare industry, mainly in the post-COVID-19 pandemic period, have bolstered the demand for hypodermic needles. Aligning with this, government initiatives for immunization and the surging public awareness associated with vaccines are further expected to drive market growth during the forecast period.
Drug Delivery: Prominent Application by 2032
In terms of drug delivery, hypodermic needles are widely used to infuse the selected drug or a therapeutic, into the patient’s body. These injections provide various advantages, such as good absorption, resulting in lesser wastage of drugs, the dosage’s accurate titration, and shorter onset time.
Asia-Pacific to be a Key Region in the Global Hypodermic Needles Market
Chronic diseases, such as autoimmune disorders, cardiovascular disorders, various types of cancer, and diabetes, are among the leading causes of death and disability across the Asia-Pacific. Accordingly, the wide acceptance of hypodermic needles for insulin delivery among patients with diabetes, enabling accurate dosing and self-administration, plays a vital role in propelling the region’s market growth.
Some of the top companies operating in the global market are Needle Tech Products Inc, Nipro Corporation, McKesson Corporation, etc.