Asia-Pacific Pen Needles Market By Product Type (Standard Pen Needles, Safety Pen Needles), Product Length (Medium Length, Nano Length, Long Length), Usability (Disposable, Reusable), Application (Diabetes, Growth Hormone Deficiency, Others), Therapy (Insulin, Glucagon-Like Peptide-1, Growth Hormones, Others), End User (Home Healthcare, Hospitals, Clinics, Others), Country (Japan, China, South Korea, India, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific) - Industry Trends and Forecast to 2026
Needle manufacturers have developed needles to minimize pain and help to reduce skin trauma, majorly by innovating needle length and diameter, to maintain a sufficient inner lumen was the major challenge for needle manufacturers by maintaining acceptable low injection force. To maintain sufficient inner lumen manufacturer made thin needle walls, which reduced the needles robustness and increased chances of needles tip damage during administration, re-usage and during cap removal or handling.
Pen needles are used in pen devices to deliver injectable drug in diabetes and growth hormone deficiency to maintain blood sugar level. The World Health Organization and international diabetes federation has projected more than 50% rise in number of diabetes patients by 2045. Also, United Nation and World Health Organization has projected more than 100% rise in geriatric population in the globe, this rise will lead the global pen needles market.
Asia-Pacific pen needles market is projected to register a healthy CAGR in the forecast period 2019 to 2026.
Segmentation: Asia-Pacific Pen Needles Market
Asia-Pacific 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.
- 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.
- 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.
Competitive Analysis: Asia-Pacific 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.
- In September 2017, BD had launched innovative BD Ultra-Fine micro pen needle with 6mm length. They also provide various pen needles with different sizes for insulin administration. With this there will increased product portfolio and revenue of company.
- In October 2014, Novo Nordisk A/S announced the launch of NovoFinePlus Pen Needle for insulin injection and GLP-1 receptor agonist pens for diabetic patients. The launch of the new pen needle enhances the product portfolio of the company.
- In August 2014, Digital Medics Pty Ltd at the Diabetes Educators Conference (ADS-ADEA) which held in Melbourne had launched DiabeticPlus Mobile App and SmartPlus Digital Insulin pen. This resulted into increased product portfolio and revenue of the company.
Research Methodology: Asia-Pacific Pen Needles Market
Primary Respondents: Key Opinion Leaders (KOL’s): Manufacturers, Researchers, Distributors, Bakers and Food Industrialists. Industry Participants: CEO’s, V.P.’s, Marketing/Product Managers, Market Intelligence Managers and National Sales Managers.