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

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

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Drivers: Latin America Pen Needles Market

  • Increasing prevalence of diabetes
  • Increasing geriatric population

Restraints:

  • Preference for alternative modes of drug delivery

Opportunity:

  • Rise in awareness among the population

Challenge:

  • Reuse of pen needles

Market Trends:

Latin America pen needles market is segmented into six notable segments which are 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. Standard pen needles are expected to lead Latin America pen needles market in the forecasted period of 2019-2026. 
  • 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, reusable
  • On the basis of application, the market is segmented into diabetes, growth hormone deficiency and others
  • On the basis of therapy, the market is segmented into insulin, glucagon-like peptide-1, growth hormones, others
  • On the basis of end user, the market is segmented into home healthcare, hospitals, clinics and others

Major Players: Latin America Pen Needles Market

Some of the major players operating in this market are Novo Nordisk A/S, BD, B. Braun Melsungen AG, HTL-STREFA, MedExel Co., Ltd., and Owen Mumford Ltd.