Product Code: ETC365304 | Publication Date: Aug 2022 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
The India hypodermic needles market import shipment exhibited a robust expansion with a notable CAGR from 2020 to 2024. The growth rate increased significantly between 2023 and 2024, indicating accelerating momentum. Overall, the market showed a strong upward trend, pointing towards dynamic growth opportunities in the sector.
The India hypodermic needles market was valued at US$ 1,129.7 million and is expected to reach US$ 1,942.10 million, growing at a CAGR of 8.6% during the forecast period. The growth of this sector can be attributed to rising prevalence of chronic diseases, increasing number of surgeries & diagnostic procedures and positive initiatives taken by government for expanding healthcare infrastructure in India. Furthermore, technological advancements such as smart syringes integrated with digital systems have encouraged the demand for advanced medical devices like hypodermic needles among healthcare professionals.
The India hypodermic needles market is witnessing robust growth due to several driving factors. The rising prevalence of chronic diseases and an increasing geriatric population have led to a surge in the demand for injectable drugs and vaccinations, thus driving the market`s expansion. The advancements in medical technology and the growing popularity of minimally invasive procedures have also contributed to the increased adoption of hypodermic needles in healthcare settings. Moreover, the government`s focus on expanding healthcare access and vaccination programs, especially during the COVID-19 pandemic, has further propelled market growth. Additionally, the growing awareness about the importance of safe and sterile medical practices has led to the demand for high-quality and disposable hypodermic needles in hospitals and clinics.
The India hypodermic needles market faces several challenges in meeting the healthcare and medical needs of the population. One of the significant challenges is the concern about needle safety and the risk of needlestick injuries. Healthcare workers and patients may be hesitant to use hypodermic needles due to the fear of accidental needlesticks, which can transmit infections and pose health risks. Manufacturers need to invest in the development of safety-engineered needles and promote their adoption to minimize the risk of needlestick injuries. Additionally, the India hypodermic needles market may encounter challenges related to the disposal of used needles and sharps. Proper disposal of medical waste is crucial to prevent the spread of infections and protect waste handlers. Ensuring access to safe and appropriate disposal facilities and promoting safe disposal practices among healthcare facilities and households are essential to address this challenge. Moreover, the India hypodermic needles market faces challenges related to affordability and accessibility. Hypodermic needles are essential medical devices used in various healthcare settings, and their accessibility is crucial for the administration of vaccines, medications, and medical procedures. Manufacturers need to explore cost-effective manufacturing processes and collaborate with healthcare providers and government agencies to ensure the availability of affordable and high-quality hypodermic needles.
The India hypodermic needles market experienced both challenges and opportunities during the COVID-19 pandemic. The sudden surge in demand for medical equipment and supplies, including hypodermic needles, strained the healthcare system. Additionally, the imposition of lockdowns and restrictions impacted routine medical procedures, affecting the market temporarily. However, the market also witnessed a surge in research and development efforts related to vaccine administration, leading to an increased demand for specialized hypodermic needles.
In the India hypodermic needles market, key players are essential in providing sterile and reliable needles for medical and healthcare applications. One of the prominent key players is Becton Dickinson India Private Limited, known for its comprehensive range of hypodermic needles and medical devices. They focus on delivering safe and effective solutions for patient care and treatment. Another major player is Nipro India Corporation Pvt. Ltd., offering hypodermic needles with a focus on quality and precision. They are committed to providing cost-effective solutions without compromising on patient safety. Additionally, HiTech Needles Private Limited is a key player in the market, providing hypodermic needles with a focus on innovation and customization. These key players actively collaborate with healthcare providers, hospitals, and clinics to ensure the availability of reliable and high-performance hypodermic needles for various medical procedures and treatments.