The Asia Pacific hypodermic needles market is expected to reach US$ 1,092.6 million by 2028 from US$ 668.7 million in 2021. The market is estimated to grow at a CAGR of 7.3% from 2021–2028.
As per the CDC, direct costs for testing and treatment can range from US$ 500 to US$ 3,000 per injury. Safety needles are designed to deliver drugs by maintaining safety features for avoiding needlestick injuries. Safety-engineered devices protect healthcare workers from avoidable needlestick injury and risk of infection with Hepatitis or even HIV. Introducing safety devices is essential to remove unnecessary risks from the healthcare professional’s working environment. The demand for safety hypodermic needles is likely to increase with the rising popularity of safety syringes and needles supported by the Needlestick Safety and Prevention Act that reduces unnecessary costs and needlestick injuries. The enforcement of such legislation will stimulate demand for Asia Pacific hypodermic needles market in the coming years.
The demand for hypodermic needles is growing continuously as the demand for the vaccine is increasing for COVID-19. Thus, the market players are actively involved in the market development activities in the COVID-19 pandemic. For instance, In April 2021, Misawa Medical Industry Co., Ltd. has developed "Low Dead Space Needles," which can reduce the quantity of medicinal liquid left in the syringe and will begin selling them in Japan on April 1, 2021. This eliminates the need for a particular syringe and reduces the "dead space" in which the liquid lingers in the syringe. Furthermore, one vial of the new COVID vaccines developed by Pfizer Inc can offer six injections. In June 2020, Misawa Medical Industry Co., Ltd. extended its needle manufacturing facilities, boosting its annual production capacity from 1.9 billion to 3 billion pieces. The company is currently strengthening the vaccine needle production system while employing other product production lines, and the company will continue to make efforts to make vaccination easier.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the hypodermic needles market. The Asia Pacific hypodermic needles market is expected to grow at a good CAGR during the forecast period.
Asia Pacific Hypodermic Needles Market Revenue and Forecast to 2028 (US$ Million)
Asia Pacific Hypodermic Needles Market Segmentation
By Type
-
Safety Needles
- Retractable Needles
- Non-retractable Needles
- Non-safety Needles
By Application
- Drug Delivery
- Vaccination
- Blood Specimen Collection
By End User
- Hospitals and Clinics
- Diagnostic Centers
- Home Health Care
By Usage
- Disposable
- Reusable
By Country
-
Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
Companies Mentioned
- Terumo Corporation
- BD
- B. Braun Melsungen AG
- Catalent Inc
- Cardinal Health Inc
- Vygon
- Barber of Sheffield
- Nipro Corp.
Asia Pacific Hypodermic Needles Market Strategic Insights
Asia Pacific Hypodermic NeedlesMarket Report Highlights
| Report Attribute | Details |
| Market size in 2021 | US$ 668.7 Million |
| Market Size by 2028 | US$ 1,092.6 Million |
| CAGR (2021 - 2028) | 7.3% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
|
Regions and Countries Covered
|
|
| Asia-Pacific | China, India, Japan, Australia, Rest of Asia-Pacific |
| Market leaders and key company profiles |
|
Asia Pacific Hypodermic Needles Market Country and Regional Insights
