North America Pen Needles Market, By Product Type (Safety Pen Needles, Standard Pen Needles), Product Length (Medium length, Long length, Nano length), Usability (Disposable, Reusable), Therapy (Insulin, Glucagon-Like Peptide-1, Growth Hormones), Application (Diabetes, Growth Hormone Deficiency), Country (U.S., Canada, Mexico, Rest of North America) – Industry Trends and Forecast to 2028
Market Analysis and Insights : North America Pen Needles Market
The pen needles market is expected to witness market growth at a rate of 11.75% in the forecast period of 2021 to 2028. Data Bridge Market Research report on pen needles market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The rapid advancements in the healthcare sector globally is escalating the growth of pen needles market.
Pen needles is defined as the type of needles that are utilized with pen devices for delivering injectable drug. Safety pen needles and standard pen needles are the two type of pen needle that are widely available. Pen needle is available three different needle lengths including nano length, medium length, and long length. These needles are utilized for injecting insulin and growth hormone in diabetes.
The surge in consumer awareness across the region acts as one of the major factors driving the growth of pen needles market. The presence of favorable reimbursement and increase in adoption of pen needles owning to more people to take insulin, which can be self-administered using an insulin pen accelerate the market growth. The inclination toward minimally invasive procedures owning to the reduced hospital stays and lesser trauma and rise in the prevalence of chronic diseases, such as diabetes and obesity among population further influence the market. Additionally, growing geriatric population, investments to improve healthcare systems, rise in health consciousness among consumers and advancement in technology positively affects the pen needles market. Furthermore, rise in preference for biosimilar drugs extend profitable opportunities to the market players in the forecast period of 2021 to 2028.
On the other hand, poor reimbursement scenario and preference for alternative modes of drug delivery are expected to obstruct the market growth. The concerns regarding misuse of injection pens and prevalence of needle anxiety are projected to challenge the pen needles market in the forecast period of 2021-2028.
This 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 localized 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 pen needles market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
North America Pen Needles Market Scope and Market Size
The pen needles market is segmented on the basis of product type, product length, usability, therapy and application. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product type, the pen needles market is segmented into safety pen needles and standard pen needles.
- On the basis of product length, the pen needles market is segmented into medium length, long length and nano length.
- On the basis of usability, the pen needles market is segmented into disposable and reusable.
- On the basis of application, the pen needles market is segmented into diabetes, growth hormone deficiency and others.
- On the basis of therapy, the pen needles market is segmented into insulin, glucagon-like peptide-1, growth hormones and others.
North America Pen Needles Market Country Level Analysis
The pen needles market is analyzed and market size insights and trends are provided by country, product type, product length, usability, therapy and application as referenced above.
The countries covered in the North America pen needles market report are U.S., Canada and Mexico in North America.
U.S. dominates the North America pen needles market due to rise in rise in presence of favorable reimbursement within the region. Canada is projected to witness high growth during the forecast period of 2021 to 2028 because of the surge in consumer awareness in the region.
The country section of the 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.
Patient Epidemiology Analysis
The pen needles market also provides you with detailed market analysis for patient analysis, prognosis and cures. Prevalence, incidence, mortality, adherence rates are some of the data variables that are available in the report. Direct or indirect impact analysis of epidemiology to market growth are analyzed to create a more robust and cohort multivariate statistical model for forecasting the market in the growth period.
Competitive Landscape and North America Pen Needles Market Share Analysis
The 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 pen needles market.
The major players covered in the pen needles market report are BD, Novo Nordisk A/S, B. Braun Melsungen AG, OWEN MUMFORD LTD., MedExel Co., Ltd., and HTL-STREFA. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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