The major factors driving the growth of the market are the increasing geriatric population, demand for vaccines and better compliance of safety needles, and prevalence of chronic and lifestyle-associated diseases. The hollow needles used for extracting body fluids or injecting drugs or other substances into the bodily are referred to as hypodermic needles. They are used by healthcare professionals for the treatment and diagnosis of various diseases.
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The major end-users in the hypodermic needle market are diagnostic centers, hospitals, and others. The hospital category acquired the largest share of the market during the historical period and is expected to retain its position during the forecast period. This is due to the rising prevalence of chronic diseases, increasing government initiatives, and growing demand for safety hypodermic needles in hospitals. Diagnostic centers are projected to grow at the highest CAGR during the forecast period due to the presence of several labs and clinics for the diagnosis of diseases and increasing healthcare awareness.
Thus, the increasing adoption of hypodermic needles in developing nations, increasing demand for vaccination, and better compliance of safety needles are driving the market.
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