An international medical technology company, Becton, Dickinson & Company, introduced an increase in manufacturing capacity and domestic supply of safety injection devices for the U.S. government.
Medical device manufacturer Smiths Medical announced a strategic public-private partnership with the Department of Defense's Joint Program Executive Office for Chemical, Biological, Radiological, and Nuclear Defense (JPEO-CBRND) and Biomedical Advanced Research and Development Authority (BARDA). As part of the partnership between BARDA and JPEO-CBRND, USD 20 million was invested for an increase in the production of syringes and needle devices for the Operation Warp Speed vaccine program.
Author Credits: Radhika Gupta, Shivam Bhutani
Report ID: 4914
Published Date: May 02, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
Increasing prevalence of chronic diseases such as diabetes and cancer, and the growing demand for self-administered injections are the major factors driving the market growth.
The market size of hypodermic needles is anticipated to attain a CAGR of 4% over the forecast period, i.e., 2023-2035.
Lack of availability of disposable needles, and the stringent regulations imposed by the government are estimated to be the growth hindering factors for the market expansion.
The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
The major players in the market are Becton, Dickinson And Company, B. Braun Melsungen AG, Catalent Inc., Medtronic plc, Retractable Technologies, Inc., Smiths Group plc., Connecticut Hypodermics Inc., EXELINT International Co., MedPro Safety Products Inc., and others.
The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by product type, application, end user, and by region.
The safety hypodermic segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.