The hypodermic syringes market is anticipated to maintain its dominance and grow at a CAGR of 3.2% on average. In comparison, the market is estimated to be worth US$ 3.51 billion in 2022 and is anticipated to generate US$ 4.66 billion in sales by 2032.
Hypodermic syringes market size is expected to increase throughout the forecast period as the market is anticipated to display significant growth potential.
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The word hypodermic, from the Greek for underneath, explains its use. In contrast, “derm” refers to skin, which clarifies the usage of hypodermic needles to draw fluid from or inject fluid into the body. The use of these syringes has skyrocketed as the prevalence of these chronic conditions increases. The medical industry’s need for hypodermic syringes is also fueled by the relaxing factor.
The leading government initiatives and dosing errors related to syringes, according to a research report on the hypodermic syringes market, have driven the sales of hypodermic syringes in healthcare markets. The market for hypodermic syringes is also gaining momentum due to aggressive pricing and novel business models. Sales of hypodermic syringes are pushed by this.
Which are the Key Competitors of Hypodermic Syringes Market?
The key players of the hypodermic syringes market are focusing on mergers and collaborations that are fueling the sales of Hypodermic syringes include Terumo Corporation, Albert David Ltd., Becton, Dickinson and Company, Nipro Corporation, Smiths Medical, Hindustan Syringes & Medical Devices Limited etc.
Recent Market Development:
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- Terumo Corporation has introduced its hypodermic syringes with needle that has an integrated plunger stop helps prevent the plunger from being pulled out. These fuels the sales of hypodermic syringes.
- Albert David Ltd has opened up new components in in their manufacturing unit to produce disposable syringes & needles for national and international standards. This increases the demand for hypodermic syringes.
- Nipro Corporation have launched its new set of hypodermic syringes named hypodermic needle-pro device that have wide range of clinical applications, increasing the demand for hypodermic syringes.
Key Segments In The Hypodermic Syringes Market
By Material Type:
- Polymer Syringes
- Cyclic Olefin Polymers (COP)
- Cyclic Olefin Copolymers (COC)
- Polypropylene and Other Polymers
- Glass Syringes
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By Sales Channel:
- Manufacturers
- Distributors
- Retailers
By End User:
- Hospital
- Diabetic Care Centers
- Blood Collection Centers
- Veterinary Care Centers
- Clinics
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
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