The Pen Needles Market report provides a detailed evaluation of the industry by highlighting information on different aspects which include drivers, restraints, growth opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing. It also provides a detailed analysis of ****** market size, regional and country-level market size, competitive landscape, impact of domestic market players and value chain optimization. Furthermore, it sheds light on the market contribution, recent developments and successful marketing strategies of leading companies.
The ****** pen needles market was valued at USD 1.5 billion in 2015, which is projected to grow at a CAGR of more than 13.0% during the forecast period. Rising prevalence of diabetes has led to the rise in demand of pen needles. According to the WHO, in 2014, 422 million people had diabetes and it is estimated that it would be the 7th leading cause of death in 2030. With the increase in population of this disorder, the market is estimated to grow rapidly over forecast period. The rising number of overweight or obese people also contributes to the growth of the market. According to the Diabetes. Co. UK, obesity accounts for 80% to 85% chances of developing type 2 diabetes. Excess abdominal fat, increases the chances of having this type of disorder.
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Pen needles helps in easy delivery of drug to the patient. They are used in conjunction with insulin pens because of its accuracy in dosage delivery and can be easily used visually impaired and elderly people.
Technological advancements in pen needles are further expected to drive market growth. The market players are majorly focusing on developing new products with respect to the length of the needle. Short length pen needles can be easily used by everyone including overweight, children, and the patient with phobia of needles. For instance, in 2014, Novo Nordisk made NovoFine Plus, the thinnest and shortest needle commercially available in the U.S.
Pen Needles Product Outlook (Revenue, USD Million; 2014 – 2025)
- Standard Pen Needles
- Safety Pen Needles
Pen Needles Length Outlook (Revenue, USD Million; 2014 – 2025)
Pen Needles Therapy Outlook (Revenue, USD Million; 2014 – 2025)
- Glucagon-like-Peptide-1 (GLP-1)
- Growth Hormone
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Top Players Analysis covered in these report
- Terumo Corporation
- Novo Nordisk
- B. Braun Melsungen
- Artsana and many others
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