Hypodermic Needles Market Share

North American Market Forecast

The share of hypodermic needles market in North America, amongst the market in all the other regions, is projected to be the largest with a share of about 37% by the end of 2037. The growth of the market can be attributed majorly to the increasing prevalence of chronic diseases such as diabetes and cardiovascular diseases, along with the rising geriatric population in the region. According to the Centers for Disease Control and Prevention's latest findings, approximately 37.3 million people in the US have diabetes, which represents 11.3% of the total population of the country. There are 28.7 million people diagnosed with diabetes, including 28.5 million adults and a total of 96 million people have prediabetes who are 18 years old or older. Hypodermic needles are effective tools for treating diabetes as they allow precise delivery of insulin directly into the bloodstream. This helps to regulate blood sugar levels safely and efficiently. In addition, technological advancements in the production of hypodermic needles, as well as increasing awareness among healthcare personnel, are also expected to contribute to market growth.

APAC Market Statistics

The Asia Pacific hypodermic needles market is estimated to be the second largest, registering a share of about 27% by the end of 2037. The growth of the market can be attributed majorly to the increasing demand for safety needles and the increasing number of hospitals in the region. Rising awareness about the risks of infections and the need for sterility in medical procedures has driven the demand for hypodermic needles as they are designed to reduce the risk of infection. Additionally, the increasing number of healthcare facilities and the presence of major pharmaceutical companies in the region are expected to drive market growth. With the growing population in the region, there is an increased need for healthcare facilities such as hospitals, clinics, and medical practices to serve the growing demand for medical services. Healthcare facilities need hypodermic needles for a variety of medical procedures, from administering vaccines to drawing blood.

Europe Market Forecast

Further, the hypodermic needles market in Europe, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2037. The growth of the market can be attributed majorly to the increasing number of surgeries and the rising use of disposable needles in healthcare settings to minimize the risk of infection among patients. Additionally, the growing demand for minimally invasive surgeries, the rising popularity of self-administered drug delivery systems, and the increasing number of biopharmaceutical companies are expected to boost the demand for hypodermic needles in Europe. Self-administration of drugs provides people with a more convenient and cost-effective way to administer medication and perform medical procedures. Additionally, they reduce the risk of errors and reduce the amount of time it takes to administer medications and treatments. Furthermore, favorable government policies such as reimbursement for medical devices and increasing healthcare expenditure are expected to drive market growth in the region.