Increasing Prevalence of Diabetes and Rising Government Initiatives are Expected to Drive the Global Pen Needles Market in the forecast period of 2019 - 2026

Global Pen Needles Market is projected to register a substantial CAGR of 9.3% in the forecast period 2019 to 2026. The new market report contains data for historic years 2017, the base year of calculation is 2018 and the forecast period is 2019 to 2026.

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DriversGlobal Pen Needles Market

  • Increasing geriatric population
  • Rising government initiatives

Restraints:

  • Preference for alternative modes of drug delivery

Opportunities:

  • Increasing biosimilar drug availability
  • Rise in awareness among the population

Challenges:

  • Reuse of pen needles
  • Strict regulatory requirements

Market Trends:

Global pen needles market is segmented into six notable segments which are based on the basis of product type, product length, usability, application, therapy and end user.

  • On the basis of product type, the market is segmented into safety pen needles and standard pen needles. In 2019, standard pen needles segment is expected to dominate the global pen needles market with largest market share due to its high availability as well as low cost in comparison with the safety pen needles.
  • On the basis of product length, the market is segmented into medium length, nano length and long length.
  • On the basis of usability, the market is segmented into disposable and reusable.
  • On the basis of application, the market is segmented into diabetes, growth hormone deficiency and others. In 2019, diabetes segment is expected to dominate the global pen needles market with largest market share as pen needle is majorly used with insulin pen devices. Insulin pen devices usage has increased due to continuous rise in number of diabetes cases.
  • On the basis of therapy, the market is segmented into insulin, glucagon-like peptide-1, growth hormones and others.
  • On the basis of end user, the market is segmented into home healthcare, hospitals, clinics and others.

Major Players: Global Pen Needles Market

Some of the major players operating in this market are Novo Nordisk A/S, Eli Lilly and Company, Terumo Corporation, MedExel Co., Ltd, ALLISON MEDICAL, VOGT MEDICAL, Digital Medics Pty Ltd., STAT Medical Devices., DOMREX Pharma Inc., A. Menarini Diagnostics srl, Ypsomed AG, B. Braun Melsungen AG, Facet Medical Technologies, KD Medical GmbH, Haselmeier GmbH & Co. KG, pendiq GmbH, MedExel Co., Ltd, Owen Mumford Ltd., HTL-STREFA S.A., LDI, Ltd. LLC and Sanofi among others.