Market Introduction
The safety needles market is anticipated to grow in the forecast period owing to driving factors such as high prevalence of blood-borne disease, active government participation to implement stringent regulations, increase in demand for injectable drugs & vaccines and untapped potential in the emerging economies. Nevertheless, high cost of safety needles and alternative drug delivery options are expected to hamper the market growth during the forecast period.
Moreover, the surge in demand for vaccines is expected to bolster the market growth during the forecast period.
The COVID-19 Pandemic has necessitated rapid vaccine development for the control of the disease. Most vaccinations, including those currently approved for COVID-19, are administered intramuscularly and subcutaneously using hypodermic needles. Similarly, In March 2021, Catalent Expanded its Partnership with Johnson & Johnson to Significantly Increase Capacity for Sterile Manufacturing and Packaging of COVID-19 Vaccine in Italy. Catalent announced Catalent Biologics would significantly increase the manufacturing capacity for large-scale commercial supply of Janssen’s COVID-19 vaccine at Catalent’s manufacturing facility in Anagni, Italy. Thus, the Europe hypodermic needles market is positively impacted due to COVID-19.
Market Overview and Dynamics
The Europe hypodermic needles market is expected to reach US$ 1502.9 million by 2028 from US$ 985.8 million in 2021. The market is estimated to grow at a CAGR of 6.2% from 2021–2028. Manufacturers in the hypodermic needles market are raising the availability of precision-engineered needles and needlestick prevention technologies to excel in challenging applications. Companies are providing safe designs and less painful injections to ensure therapeutic success. Hypodermic needles are undergoing controlled manufacturing and robust inspection for quality assurance to face the competition placed by needle-free injectors. For instance, in April 2021, Misawa Medical Industry Co., Ltd. launched "low dead space needles" to reduce the amount of medicinal liquid remaining inside the syringe. This decreases the dead space, in which the liquid remains in the syringe without using a special syringe, reducing the therapeutic drug's wastage.
Key Market Segments
In terms of type, the safety needles segment accounted for the largest share of the Europe hypodermic needles market in 2020. In terms of application, the drug delivery segment accounted for the largest share of the Europe hypodermic needles market in 2020. In terms of end user, the hospital segment accounted for the largest share of the Europe hypodermic needles market in 2020. Further, based on usage, the disposable segment held the largest market share in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the hypodermic needles market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Terumo Corporation, BD, B. Braun Melsungen AG, Catalent Inc., Cardinal Health Inc., Vygon, and Barber of Sheffield.
Reasons to Buy Report
EUROPE HYPODERMIC NEEDLES MARKET SEGMENTATION
By Country
Companies Mentioned
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 985.8 Million |
| Market Size by 2028 | US$ 1502.9 Million |
| CAGR (2021 - 2028) | 6.2% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe Hypodermic Needles Market is valued at US$ 985.8 Million in 2021, it is projected to reach US$ 1502.9 Million by 2028.
As per our report Europe Hypodermic Needles Market, the market size is valued at US$ 985.8 Million in 2021, projecting it to reach US$ 1502.9 Million by 2028. This translates to a CAGR of approximately 6.2% during the forecast period.
The Europe Hypodermic Needles Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Hypodermic Needles Market report:
The Europe Hypodermic Needles Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Hypodermic Needles Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Hypodermic Needles Market value chain can benefit from the information contained in a comprehensive market report.
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