Global Hypodermic Syringes & Needles Market is anticipated to register remarkable gains through 2032 on account of the surging prevalence of chronic disorders. As per the New York State Department of Health, in the U.S., heart disease causes around 697,000 deaths every year, which accounts for 1 in every 5 deaths. The growing disease burden has increased the number of surgeries, further escalating the need for hypodermic syringes & needles.
Overall, the hypodermic syringes & needles market is segmented in terms of type, usability, application, end-use, and region.
Based on usability, the hypodermic syringes & needles industry from the reusable segment is slated to register considerable gains through 2032, owing to the growing efforts of market players on new product innovations. Moreover, hypodermic reusable syringes and needles work well for the administration of injectable antibiotics and vaccines. In addition, a commendable rise in investments by government authorities in mega vaccination drives may further bolster segment growth.
In terms of application, the hypodermic syringes & needles industry from the vaccination segment is expected to grow at a substantial CAGR from 2023 to 2032, owing to the growing focus of government authorities on vaccination drives for public safety. In fact, in January 2022, Argentina implemented a National Vaccination Campaign in an effort to combat COVID-19 to restore in-person classes in schools. Likewise, the growing efforts of governments of developing economies to fight against infectious diseases are likely to pave the way for market expansion.
With respect to end-use, the hypodermic syringes & needles market from the diagnostic centers segment is slated to record a valuation of over USD 2 billion by 2032. A remarkable rise in the popularity of minimally invasive surgical procedures, such as core needle biopsy for pathological analysis of tissue samples, has bolstered the need for hypodermic syringes & needles in diagnostic centers. Moreover, these devices help obtain tissue samples by precisely targeting the area to be operated, leading to fewer postoperative complications and quick recovery.
From the regional perspective, the Asia Pacific hypodermic syringes & needles industry is poised to grow at over 4.5% CAGR from 2023 to 2032. The rising geriatric population, which is highly susceptible to diseases, has increased the frequency of visits to medical facilities, creating a strong demand for the product. As per WHO, an estimated 402 million people, which makes up 28% of the population in China will be over the age of 60 years by 2040.