According to a new report, published by KBV research, The Global Hypodermic Needles Market size is expected to reach $4.2 billion by 2028, rising at a market growth of 3.3% CAGR during the forecast period.
The Non-safety segment is showcasing a CAGR of 5.7% during (2022 - 2028). The rising growth of this segment is attributed to the fact that these needles are used traditionally and require less expertise to be manufactured. In addition, due to the composition of lesser number of components, these needles are also cost-efficient for the manufacturer as well as the user. Hence, the growth of this segment is rapidly increasing.
The Drug Delivery segment acquired maximum revenue share in the Global Hypodermic Needles Market by Application in 2021, thereby, achieving a market value of $2.84 billion by 2028. The rapidly increasing growth of this segment is owing to advancements in the healthcare sector, as well as reduced drug waste and shorter onset times. Because of the simplicity and safety that these devices provide, the drug delivery segment is often preferred over other methods.
The Diabetic Patients segment has shown growth rate of 4% during (2022 - 2028). The rapidly increasing growth of this segment is owing to advancements in the healthcare sector, as well as reduced drug waste and shorter onset times. Because of the simplicity and safety that these devices provide, the drug delivery segment is often preferred over other methods.
Asia Pacific is fastest growing region the Global Hypodermic Needles Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1.52 billion by 2028. The Europe market is estimated to witness a CAGR of 2.9% during (2022 - 2028). Additionally, The North America market would experience a CAGR of 2.7% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/hypodermic-needles-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Becton, Dickinson and Company, Terumo Corporation, Nipro Corporation, Cardinal Health, Inc., B. Braun Melsungen AG, McKesson Corporation, Retractable Technologies, Inc., Connecticut Hypodermics, Inc., Exelint International, Co., and i-Tech Medics Private Limited.
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Companies Profiled
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