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
- To understand the Europe hypodermic needles market landscape and identify market segments that are likely to guarantee a strong return
- To comprehend the ever-changing market landscape and stay ahead in competition
- To efficiently plan merger and acquisition, and partnership deals in the Europe hypodermic needles market by identifying segments with the most promising probable sales
- To make knowledgeable business decisions from perceptive and comprehensive analysis of the market performance of various segments
- To obtain market revenue forecast of the Europe hypodermic needles market based on various segments for the period 2021–2028
EUROPE HYPODERMIC NEEDLES MARKET SEGMENTATION
-
Safety Needles
- Retractable Needles
- Non-retractable Needles
- Non-safety Needles
- Drug Delivery
- Vaccination
- Blood Specimen Collection
- Hospitals and Clinics
- Diagnostic Centers
- Home Health Care
- Disposable
- Reusable
By Country
-
Europe
- • Germany
- • UK
- • France
- • Spain
- • Italy
- • Rest of Europe
Companies Mentioned
- Terumo Corporation
- BD
- B. Braun Melsungen AG
- Catalent Inc
- Cardinal Health Inc
- Vygon
- Barber of Sheffield
Europe Hypodermic Needles Market Strategic Insights
Europe Hypodermic NeedlesMarket Report Highlights
| 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 | UK, Germany, France, Russia, Italy, Rest of Europe |
| Market leaders and key company profiles |
|
Europe Hypodermic Needles Market Country and Regional Insights
