Pen needles are used along with the injection pens so that it can deliver medicines to the body. They are of different lengths and are available in two variants- standard pen needles and safety pen needles. They are usually used by the diabetic patients so that they can inject insulin in their bodies. It is very easy to use& handle and is pain free. In these pen needles, usually a hollow needle is implanted into the plastic hub and then that is attached to the injection pen. These syringes as compared to the syringes and vials are accurate, simple and easy to use. This insulin is usually kept in the refrigerator but the opened one need to keep at room temperature. Today, there is a smart pen which has the ability to check the appropriate dose of insulin that one need to get injected.
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Some of the common factors driving the growth of this market are as follow:
The global pen needles market is segmented on the basis of product type into standard pen needles, safety pen needles; product length which is segmented as nano length, medium length, long length; usability is classified as reusable pen needles, disposable pen needles; application is segmented as diabetes, growth hormone deficiency, others; therapy is segmented as insulin, glucagon-like peptide-1, growth hormones and end user is segmented into (hospitals, clinics, OTC, home healthcare and others.
Some of the launches and acquisition in the market are as follow:
“According to Data Bridge Market Research, global pen needles market has accounted grow at a healthy CAGR of 11.6% in the forecast period of 2017 to 2024”
Some of the major players in the global pen needles market includes Becton, Dickinson and Company, ADW Diabetes, Novo Nordisk, A.Menarini Diagnostics, Ulticare, Ypsomed Holding AG, Facet Technologies, B. Braun Melsungen AG, Shanghai Neo-Medical Co. Ltd, HTL-Strefa S.A., Frank Healthcare Co., Ltd, Stat Medical Devices, Inc., Terumo Corporation, Domrex Pharma Inc., Vogt Medical Vertrieb GmbH, Artsana S.p.a, Eli Lilly, Owen Mumford Ltd, KD Medical GmbH Hospital Products, Allison Medical, Inc., Digital Medics Pty Ltd, and Ultimed, Inc. among others.
With advancement in the technology, pen needles are developed in such a way so that they can be used easily by the patient and provide comfort. These pen needles are very helpful for the diabetic patients who require constant insulin injections. There portable nature helps the patient to get their doses on time, no matter where they are. These needles are small and thin due to which they reduce pain. These factors are creating some opportunities for this market to grow.
Global Pen Needles Market - Industry Trends and Forecast to 2026
Latin America Pen Needles Market – Industry Trends and Forecast to 2026
Asia-Pacific Pen Needles Market - Industry Trends and Forecast to 2026
Europe Pen Needles Market - Industry Trends and Forecast to 2026
Middle East and Africa Pen Needles Market - Industry Trends and Forecast to 2026
North America Pen Needles Market - Industry Trends and Forecast to 2026
Global Pen Needles Market is expected to reach USD 4.5 billion by 2024
Global Pen Needles Market is Expected to Worth at CAGR of 11.6% to 2024
Pen Needles Market to witness high demand in the market due to increasing diabetic patient worldwide
Global Pen Needles Market is Expected to Register a Healthy CAGR in the Forecast Period of 2019 to 2026
Increasing Prevalence of Diabetes and Increasing Geriatric Population are Expected to Drive the Latin America Pen Needles Market in the forecast period of 2019 -2026
Increasing Prevalence of Diabetes and Rising Government Initiatives are Expected to Drive the Global Pen Needles Market in the forecast period of 2019 - 2026