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Hypodermic Syringes & Needles Market size to surpass $9Bn by 2032

  • Published Date: May 2, 2023

Hypodermic Syringes & Needles Market size is slated to exceed USD 9 billion by 2032, as per a new research report announced by Global Market Insights Inc.

An upsurge in the utilization of syringes & needles for blood collection is one of the chief drivers for the hypodermic syringes & needles industry trends. The increased demand for healthcare services, technological upgradation, and increasing focus on infection control is fueling blood collection requirement. Moreover, prominent blood collection drives are supporting product adoption.

Supportive government policies to fuel hypodermic syringes segment growth

Hypodermic syringes & needles market from the hypodermic syringes segment exceeded over USD 3 billion in 2022. Favorable government programs and policies are contributing to increasing awareness regarding the usage & administration of pharmaceuticals & other therapeutics with syringes. Furthermore, strong knowledge of government-imposed safety rules regarding the usage of sterile single-use syringes has escalated the number of stakeholders in the healthcare business space.

Browse key industry insights spread across 200 pages with 343 market data tables & 16 figures & charts from the report, “Hypodermic Syringes & Needles Market Size By Type (Syringes, Needles), By Usability (Disposable, Reusable), By Application (Blood Collection, Drug Delivery, Vaccination, Insulin Administration), By End-use (Hospitals, Ambulatory Surgical Centers, Diagnostic Centers), Industry Analysis Report, Regional Outlook, Application Development Potential, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:

Sustainability and cost-effectiveness to increase reusable syringes and needles industry

Reusable hypodermic syringes & needles industry is foreseen to depict a 2% CAGR  by 2032. These syringes and needles offer affordability, better quality, tensile strength, and a positive environmental footprint. These supplies are environment-friendly and generate less waste as compared to disposable ones. The COVID-19 pandemic especially posed a threat to the environment after the disposal of tons of healthcare waste.

Widespread awareness about the significance of blood donations to shape the market landscape

Hypodermic syringes & needles market from the blood collection segment is likely to grow  at a 3.5% CAGR  by 2032. Supportive efforts by blood donation organizations, healthcare institutions, and governments to spread knowledge regarding the importance of blood donation & the need for blood in medical treatments are spurring the segment uptake. For instance, the WHO is adopting resolutions advocating a sustainable and safe supply of blood across the globe, and hypodermic syringes & needles are highly preferred in sourcing & collecting blood.

Mounting number of outpatient procedures to complement ambulatory surgical centers segment progression

The ambulatory surgical centers segment held over 11% share in the hypodermic syringes & needles market in 2022 as a result of the surging outpatient surgical care for patients as they are cost-effective & convenient and contribute heavily to annual diagnosis and procedures. As per reports, more than half of the outpatient surgical procedures in the U.S. are performed in ASCs, and the Centers for Medicare and Medicaid Services shifted 10 inpatient surgeries to ASCs to lower the costs of the procedure.

Increasing elderly population to help Europe emerge as a key revenue hub

Europe hypodermic syringes & needles market to hit USD 2 billion by  2032. The regional expansion is stimulated by the extensive use of advanced & safe needles, proliferating healthcare expenditures, the rising prevalence of the aging population, and the strong presence of market players.

Product development for automated medication dispensing machines to remain a key growth strategy

Top players profiled in the hypodermic syringes & needles industry report include B. Braun, Vitrex Medical A/S, Retractable Technologies, McKesson Corporation, Smiths Medical (ICU Medical), Exelint International, and Hi-Tech Syringes, among others.

Authors: Rupali Swain, Subodh Kharad