Hypodermic Needle Market
The burden of chronic diseases has been increasing rapidly since a long time now. As per the World Health Organization (WHO), chronic diseases account for about 60% of all deaths. It has been further estimated that the percentage would rise to 73% by 2020. The four most prevalent chronic diseases, namely chronic obstructive pulmonary disease, cardiovascular diseases, type 2 diabetes, and cancer, are mostly lifestyle associated diseases and can be prevented. Some of the major risk factors for these diseases are excessive tobacco usage, unhealthy diet, and physical inactivity.
This growing prevalence of chronic diseases has resulted in a rising need for hypodermic needles, which are hailed as the greatest medical device that was ever invented. Extremely common in all medical facilities, these needles are used for injecting drugs into the body. Before the development of this devices, drugs were administered orally; however, curiosity and technological advancement prevailed as always, and the syringe was developed in the 1850s by French veterinarian Charles Gabriel Pravaz and Alexander Wood, a Scottish doctor. Today’s hypodermic needles comprise a hollow needle that is attached to a syringe.
The syringe pierces the skin, for injecting substances into the bloodstream, and it is also used for extracting liquids, such as blood, from the body. This device is used extensively for several purposes, which is why the hypodermic needle market is projected to register significant growth in the near future. There are two types of hypodermic needles, namely safety and non-safety hypodermic needles. Between these, safety hypodermic needles, including active and passive hypodermic needles, were more in demand in the past, which is ascribed to the rising awareness regarding the prevention of needlestick injuries.
These devices are utilized in diagnostic centers and hospitals, among other medical facilities. Hospitals make the most use of hypodermic needles, owing to the growing number of patients visiting hospitals for managing several medical conditions. In addition to this, the surging prevalence of chronic diseases, as mentioned above, strict regulations pertaining to the safety of hypodermic needles, and rising government initiatives for promoting safe injection methods are resulting in the surging adoption of hypodermic needles in hospital settings.
The global hypodermic needle market is expected to advance at a CAGR of 7.4% during 2016–2022 (forecast period). The rise in the prevalence of chronic and other lifestyle-associated diseases and the surge in the geriatric population across the world are the key factors supporting the market growth
When the geographical scenario is taken into consideration, North America emerged as the largest hypodermic needle market in the past. This is because of the growing focus on the utilization of safe injection technologies in the region. Furthermore, a large number of major medical device companies are present in the U.S., and the region is witnessing high adoption of technologically advanced products, which is further driving the demand for hypodermic needles. Other than this, the requirement for these needles is predicted to grow considerably in the Asia-Pacific region, which is attributed to the improving healthcare infrastructure and rising awareness regarding the safe usage of these devices in the region.
Hence, the need for hypodermic needles is growing all across the globe due to the surging prevalence of chronic diseases and rising awareness regarding the safe use of injection technologies.