Market Introduction
The safety needles market is anticipated to grow in the forecast period owing to driving factors such as high prevalence of blood-borne disease, active government participation to implement stringent regulations, increase in demand for injectable drugs & vaccines and untapped potential in the emerging economies. Nevertheless, high cost of safety needles and alternative drug delivery options are expected to hamper the market growth during the forecast period.
Moreover, the surge in demand for vaccines is expected to bolster the market growth during the forecast period.
The COVID-19 pandemic has resulted in many hospital admissions. These hospital admissions are followed by various tests using blood samples and various medications, which is expected to further fuel the market growth. Also, the rise in COVID-19 vaccinations has been observed, which will lead to increased demand for syringes and needles. The vaccine campaign has placed the spotlight on syringes and needles. Companies in the hypodermic needles are capitalizing on business opportunities with unprecedented demand for single-use needles. The COVID-19 pandemic has necessitated rapid vaccine development for the control of the disease. Most vaccinations, including those currently approved for COVID-19, are administered intramuscularly and subcutaneously using hypodermic needles. Manufacturers in the hypodermic needles market are maintaining robust supply chains to meet requirements for vaccine campaigns and ongoing COVID-19 cases of patients in hospitals.
Market Overview and Dynamics
The North America hypodermic needles market is expected to reach US$ 2,427.9 million by 2028 from US$ 1,424.0 million in 2021. The market is estimated to grow at a CAGR of 7.0% from 2021–2028. As per the CDC, direct costs for testing and treatment can range from US$ 500 to US$ 3,000 per injury. Safety needles are designed to deliver drugs by maintaining safety features for avoiding needlestick injuries. Safety-engineered devices protect healthcare workers from avoidable needlestick injury and risk of infection with Hepatitis or even HIV. Introducing safety devices is essential to remove unnecessary risks from the healthcare professional’s working environment. The demand for safety hypodermic needles is likely to increase with the rising popularity of safety syringes and needles supported by the Needlestick Safety and Prevention Act that reduces unnecessary costs and needlestick injuries. The enforcement of such legislation will stimulate demand for North America hypodermic needles market in the coming years.
Key Market Segments
In terms of type, the safety needles segment accounted for the largest share of the North America hypodermic needles market in 2020. In terms of application, the drug delivery segment accounted for the largest share of the North America hypodermic needles market in 2020. In terms of end user, the hospital segment accounted for the largest share of the North America hypodermic needles market in 2020. Further, based on usage, the disposable segment held the largest market share in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the hypodermic needles market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are EXELINT International, Co., Terumo Corporation, BD, B. Braun Melsungen AG, Catalent Inc., Cardinal Health Inc., Vita Needle Company, Connecticut Hypodermics Inc., Vygon, Barber of Sheffield, RETRACTABLE TECHNOLOGIES, INC., and AIR-TITE PRODUCTS CO., INC.
Reasons to Buy Report
- To understand the North America hypodermic needles market landscape and identify market segments that are likely to guarantee a strong return
- To comprehend the ever-changing market landscape and stay ahead in competition
- To efficiently plan merger and acquisition, and partnership deals in the North America hypodermic needles market by identifying segments with the most promising probable sales
- To make knowledgeable business decisions from perceptive and comprehensive analysis of the market performance of various segments
- To obtain market revenue forecast of the North America hypodermic needles market based on various segments for the period 2021–2028
NORTH AMERICA HYPODERMIC NEEDLES MARKET SEGMENTATION
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Safety Needles
- Retractable Needles
- Non-retractable Needles
- Non-safety Needles
- Drug Delivery
- Vaccination
- Blood Specimen Collection
- Hospitals and Clinics
- Diagnostic Centers
- Home Health Care
- Disposable
- Reusable
By Country
- North America
- US
- Canada
- Mexico
Companies Mentioned
- EXELINT International, Co.
- Terumo Corporation
- BD
- B. Braun Melsungen AG
- Catalent Inc
- Cardinal Health Inc
- Vita Needle Company
- Connecticut Hypodermics Inc.
- Vygon
- Barber of Sheffield
- RETRACTABLE TECHNOLOGIES, INC.
- AIR-TITE PRODUCTS CO., INC.
North America Hypodermic Needles Market Strategic Insights
North America Hypodermic Needles Market Report Highlights
| Report Attribute | Details |
| Market size in 2021 | US$ 1,424.0 Million |
| Market Size by 2028 | US$ 2,427.9 Million |
| CAGR (2021 - 2028) | 7.0% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
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Regions and Countries Covered
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| North America | US, Canada, Mexico |
| Market leaders and key company profiles |
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North America Hypodermic Needles Market Country and Regional Insights
