Hypodermic Needle Market Overview
Due to the increasing incidence of chronic and lifestyle-associated diseases and the surging population of geriatric people. The global hypodermic needle market is expected to exhibit huge expansion in the coming years. Furthermore. The increasing concerns being raised over the escalating prevalence of needlestick injuries are also propelling the expansion of the market.
Size
Diabetes is one of the most prevalent chronic diseases across the globe. According to the World Health Organization (WHO), around 422 million people all over the world are diagnosed with diabetes and the disease claims the lives of 1.6 million people every year. Furthermore, the organization also found that a majority of the people living in low- and middle-income countries suffer from diabetes. As needles are required for administering insulin in patient’s bodies for managing diabetes, the growing incidence of the disease is responsible for the rising prevalence of needlestick injuries.
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This is subsequently propelling the requirement for hypodermic needles. These long, cylindrical, and hollow needles are used with syringes for injecting into and extracting fluids from the body. There are mainly two types of hypodermic needles used around the world— reusable and disposable. Reusable needles are largely used by diabetic patients for administering insulin themselves. In addition, these needles are also being increasingly used in research institutes for reducing contamination during inoculation.
Development
Depending on type, the hypodermic needle market is divided into safety and non-safety needle categories. Between these, the safety needle category dominated the market in the past, primarily because of the fact that these needles have a safety mechanism that prevents the occurrence of needlestick injuries. On the other hand, non-safety hypodermic needles do not have a safety mechanism and as a result, these needles experience limited demand. Moreover, as safety needles are produced in compliance with the safety regulations, their popularity is surging sharply globally.
Growth
When the mode of activation is taken into consideration, the market is categorized into active and passive needles. Of these, the passive needle category led the market in 2015, and it is also predicted to be the faster growing category throughout the forecast period. This will be due to factors such as their ease of use and automatic safety mechanisms. Geographically, North America is currently holding the largest share in the hypodermic needle market.
Demand
This is credited to the high incidence of lifestyle-associated and chronic diseases and the extensive focus on the adoption of safe injection technologies in the region. Whereas, the Asia-Pacific (APAC) hypodermic needle market is expected to register the fastest growth during the forecast period. This will be because of the growing public awareness of the safe usage of needles and the rapidly improving healthcare infrastructure in the region. China is predicted to be the fastest growing country in the APAC market during the forecast period.
