Global Lancet and Pen Needles Market, By Type (Lancet, Pen Needles), Length (4mm, 5mm, 6mm, 8mm, 10mm and 12mm), Therapy (Insulin, GLP-1, Growth, Hormone Therapy, Glucose Like Peptide (GLP) and Skin Testing), Mode of Purchase (Retail and Non-retail), End User (Hospitals & Clinics, Diagnostic Centers & Medical Institutions, Home Care & Home Diagnostics and Research & Academic Laboratories), Gauge (17/18G, 21G, 23G, 25G, 28G and 30G), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Global lancet and pen needles market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the market to account to USD 4,929.75 billion by 2028 growing at a CAGR of 9.33% in the above-mentioned forecast period. The growing awareness amongst the people and patients regarding the benefits associated with the usage of lancet and pen needles has been directly impacting the growth of lancet and pen needles market.
Pen needle is a product used to inject a medicine with the help of pen injectors and helpful while using injectable medicines. Lancet is a device that is mainly comprised of a holder and a sharp pinpoint needle that is held by using the holder. Lancet is used to take blood samples for blood sugar. Lancets and pen needles are manufactured for providing comfort. It also provides an alternative for the delivery of modern medicine in the body of the subject.
An increase in patients with diabetes and blood-related diseases is the main driving factor in the growth of the lancet and pen needles market. Growing awareness of healthcare and medical equipment among the population is the main opportunity for the lancet and pen needles market.
Lancet and pen needles market is facing a continuous challenge, which is the practice of used pen needles. However, the increasing graph of oral drug usage and some of the major risks which are related to blood transfusion is the main restraint in the growth of the lancet and pen needles market during the forecast period of 2021-2028.
This lancet and pen needles market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on Data Bridge Market Research lancet and pen needles market contact us for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Lancet and Pen Needles Market Scope and Market Size
Lancet and pen needles market is segmented on the basis of type, length, therapy, mode of purchase, end user and gauge. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- Based on type, the lancet and pen needles market is segmented into lancet and pen needles. Lancet is further sub-segmented into regular lancet, safety lancet, push-button safety lancet, pressure activated safety lancet and side button safety lancet. Pen needles are further sub-segmented into standard needles and safety needles.
- Based on length, the lancet and pen needles market is segmented into 4mm, 5mm, 6mm, 8mm, 10mm and 12mm.
- On basis of therapy, the lancet and pen needles market is segmented into insulin, GLP-1, growth, hormone therapy, glucose like peptide (GLP) and skin testing.
- Based on mode of purchase, the lancet and pen needles market is segmented into retail and non-retail.
- Based on end user, the lancet and pen needles market is segmented into hospitals & clinics, diagnostic canters & medical institutions, home care & home diagnostics and research & academic laboratories.
- Based on gauge, the lancet and pen needles market is segmented into 17/18G, 21G, 23G, 25G, 28G and 30G.
Lancet and Pen Needles Market Country Level Analysis
Lancet and pen needles market is analysed and market size insights and trends are provided by country, type, length, therapy, mode of purchase, end user and gauge as referenced above.
The countries covered in the lancet and pen needles market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Europe is likely to lead the global lancet and pen needles market. The regional market has been driven by the rising cases of diabetes and encouraged usage of injecting medicines. However, growing market with new players is the main factor propelling the growth of the regional market. The market in Asia-Pacific is expected to exhibit a substantial growth rate during the forecast period 2021-2028 due to a large number of population and increasing awareness of lancets and pen needles.
The country section of the lancet and pen needles market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed Base and New Technology Penetration
Lancet and pen needles market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment’s, installed base of different kind of products for lancet and pen needles market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the lancet and pen needles market. The data is available for historic period 2010 to 2019.
Competitive Landscape and Lancet and Pen Needles Market Share Analysis
Lancet and pen needles market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to lancet and pen needles market.
The major players covered in the lancet and pen needles market report are BD, Novo Nordisk A/S, Ypsomed Holding AG, B. Braun Melsungen AG, HTL-STREFA S.A., GlucoRx, ARKRAY, Inc., UltiMed, Inc., Owen Mumford Ltd., Allison Medical, Inc., Terumo Corporation, Artsana S.p.a, Sanofi, Eli Lilly and Company., Rimidi Inc., Lonza, Abbott Laboratories, Perrigo Diabetes Care, SARSTEDT AG & Co. KG, MedExel Co., Ltd, Greiner Bio-One International GmbH, and Gerresheimer AG among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
In September 2017, BD introduced BD Ultra-Fine micro pen needle 6mm x 32G for use with leading pen injection devices. With this launch, BD has provided health care practitioners with an extra needle length option manufactured with BD quality and authenticity to accommodate a wider diversity of needle lengths for people with diabetes who inject insulin.