Hypodermic Syringes Market

Hypodermic Syringes Market Outlook (2022 to 2032)

The hypodermic syringes market is expected to continue its stronghold as the market flourishes at an average CAGR of 3.2%. In contrast, the market is valued at USD 3.51 Billion in 2022 and is projected to reach market revenue of USD 4.66 Billion through 2032.

The market is anticipated to show promising growth prospects during the forecast period, expanding the hypodermic syringes market size.

Attributes	Details
CAGR (2022 to 2032)	3.2%
Value (2022)	USD 3.51 Billion
Value (2032)	USD 4.66 Billion

The term hypodermic explains its application in “hypo,” which stands for beneath. In contrast, “derm” stands for skin, explaining hypodermic syringes to be used in withdrawing the fluid from the body or injecting fluid into the body.

As these chronic diseases keep rising, the use of these syringes has been booming. The easing factor also fuels the demand for hypodermic syringes in the medical sector.

A research report on the hypodermic syringes market explains that the leading government initiatives and dosing errors associated with syringes have pushed the sales of hypodermic syringes in healthcare markets.

Other factors that drive the traction of the hypodermic syringes market are aggressive price ranges and new schemes. This pushes the sales of hypodermic syringes.

What are the Key Drivers and Restraints to the Hypodermic Syringes Market?

The global hypodermic syringes market is expected to flourish under the backdrop of the global pharmaceutical industry during the forecast period. Hypodermic syringes are preferred over after-filled syringes as they offer fixed dosages of the drug and ease in usability.

Prefill ability helps in reducing the overall cost by reducing the drug overfill. Single-dose vials or multi-dose vials have a drug overfill of almost 20-25% so that the administrator has enough to fill the correct dose and to compensate for human errors, flourishing the demand for hypodermic syringes.

However, prefilled hypodermic syringes eradicate the source of inefficiency in the manufacturing process by eliminating drug overfills. This is particularly advantageous for companies dealing with costly biopharmaceuticals. The growth of the biologics market is likely to boost the hypodermic syringes market.

The conventional syringes were made of glass barrels and glass rods, which were comparatively expensive to manufacture when compared to plastic-based hypodermic syringes, pushing the sales of hypodermic syringes globally.

Healthcare workers benefit from accurate and pre-measured doses. Demand for hypodermic syringes is also fueled by reduced dosing, medication errors, and decreased microbial contamination risk.

Along with this, an increasing trend of people getting vaccinated outside hospitals such as in schools, community centers, pharmacies, and airport booths is likely to contribute to the growth of the hypodermic syringes market.

Which Region performs better in the Hypodermic Syringes Market?

Geographically, the global hypodermic syringes market has been divided into seven key regions: North America, Latin America, East Asia, South Asia, Europe, the Middle East & Africa (MEA), and Oceania.

Europe is expected to hold maximum market share in the global hypodermic syringes market owing to the well-established healthcare industry in the region.

The healthcare sector in India is diversified and offers enormous opportunities in every segment, which includes payers, providers, and medical technology. Increasing competition pushing businesses to explore and adapt according to the latest trends and dynamics is expected to impact the hypodermic syringes market in the country positively.

Which are the Key Competitors of Hypodermic Syringes Market?

The key players in the hypodermic syringes market are focusing on mergers and collaborations that are fueling the sales of Hypodermic syringes including Terumo Corporation, Albert David Ltd., Becton, Dickinson and Company, Nipro Corporation, Smiths Medical, Hindustan Syringes & Medical Devices Limited etc.

Recent Market Development:

• Terumo Corporation has introduced its hypodermic syringes with a needle that has an integrated plunger stop that helps prevent the plunger from being pulled out. This fuels the sales of hypodermic syringes.
• Albert David Ltd has opened up new components in their manufacturing unit to produce disposable syringes & needles for national and international standards. This increases the demand for hypodermic syringes.
• Nipro Corporation has launched its new set of hypodermic syringes named hypodermic needle-pro devices that have a wide range of clinical applications, increasing the demand for hypodermic syringes.

Scope of Report

Report Attribute	Details
Growth Rate	CAGR of 3.2% from 2022 to 2032
Base year for estimation	2021
Historical data	2015 to 2021
Forecast period	2022 to 2032
Quantitative units	Revenue in USD Million, and CAGR from 2022 to 2032
Report coverage	Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis,
Segments covered	Material type, Sales Channel, End-user, Region
Regional scope	North America; Western Europe; Eastern Europe; Middle East; Africa; ASEAN; South Asia; Rest of Asia; Australia and New Zealand
Country scope	USA, Canada, Mexico, Germany, UK, France, Italy, Spain, Russia, Belgium, Poland, Czech Republic, China, India, Japan, Australia, Brazil, Argentina, Colombia, Saudi Arabia, UAE, Iran, South Africa
Key companies profiled	Terumo Corporation; Albert David Ltd.; Becton; Dickinson and Company; Nipro Corporation; Smiths Medical; Hindustan Syringes & Medical Devices Limited etc.
Customization scope	Free report customization (equivalent to up to 8 analysts' working days) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options	Avail customized purchase options to meet your exact research needs.

Key Segments In The Hypodermic Syringes Market

By Material Type:

• Polymer Syringes
• Cyclic Olefin Polymers (COP)
• Cyclic Olefin Copolymers (COC)
• Polypropylene and Other Polymers
• Glass Syringes

By Sales Channel:

• Manufacturers
• Distributors
• Retailers

By End User:

• Hospital
• Diabetic Care Centers
• Blood Collection Centers
• Veterinary Care Centers
• Clinics

By Region:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East and Africa

Frequently Asked Questions

What is the Hypodermic Syringes Market Outlook?

The hypodermic syringes market is set to thrive at a CAGR of 3.2% through 2032.

What Region is the Biggest Hypodermic Syringes Market?

Europe holds the biggest revenue in the hypodermic syringes market, the region’s growth owing to its application in healthcare as it eases out the diagnostic and clinical procedures coupled with the spread of covid-19. This leads to the high demand for hypodermic syringes in developed countries like Spain and France.

Which is the Key Driver in the Hypodermic Syringes Market?

Demand for hypodermic syringes market size has expanded owing to their use as sustainable tool for withdrawing the fluids as well as injecting the fluid beneath the human skin.