Global Pen Needles Market By Type (Standard Pen Needles and Safety Pen Needles), Length (4mm, 5mm, 6mm, 8mm, 10mm and 12mm), Usability (Reusable Pen Needles and Disposable Pen Needles), Application (Diabetes, Growth Hormone Deficiency and Others), Therapy (Insulin Therapy, Glucagon-Like Peptide-1 Therapy, Growth Hormone Therapy and Other Therapies), Mode of Purchase (Retail and Non-Retail), End User (Hospitals, Clinics, Over The Counter (OTC), Home Healthcare and Others), Country (U.S., Canada, Mexico, Peru, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands,Belgium, Switzerland, Turkey, Russia, Hungary, Lithuania, Austria, Ireland, Norway, Poland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Vietnam, Rest of Asia Pacific, South Africa, Saudi Arabia, U.A.E, Kuwait, Israel, Egypt, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights of Pen Needles Market
Data Bridge Market Research analyses that the pen needles will exhibit a CAGR of around 10.68% for the forecast period of 2021-2028. Increasing prevalence of chronic diseases across the world, continuous attempts being made to embrace the best vaccines, rising geriatric population, and increased expenditure for the development of healthcare infrastructure are the major factors attributable to the growth of pen needles market.
From the name itself, it is clear that pen needles are the pen injections that are used to deliver injectable medications into the body of a patient. Pen needles are comprised of hollow needles embedded in a plastic body and are available in a variety of needle lengths and diameters.
Growing prevalence of diabetes around the globe is a major factor fostering the growth of pen needles market. Rising expenditure on the development of healthcare infrastructure and increased initiatives by the government to strengthen the life sciences industry are other factors also fostering the growth of the pen needles market. Ever-rising geriatric population and personal disposable income are some other indirect determinants that will create lucrative pen needles market growth opportunities.
However, non-favourable reimbursement scenario in the developing and under developed economies will pose a major challenge to the pen needles market growth. Availability of alternative drug delivery options will further challenge the pen needles market growth rate. Dearth of endocrinologists will further derail the pen needles market growth rate.
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 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 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.
Global Pen Needles Market Scope and Market Size
The pen needles market is segmented on the basis of type, length, usability, application, therapy, mode of purchase, and end user. 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.
- On the basis of type, the pen needles market is segmented into standard pen needles and safety pen needles.
- On the basis of length, the pen needles market is segmented into 4mm, 5mm, 6mm, 8mm, 10mm, and 12mm.
- On the basis of usability, the pen needles market is segmented into reusable pen needles and disposable pen needles.
- 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 therapy, glucagon-like peptide-1 therapy, growth hormone therapy, and other therapies.
- On the basis of mode of purchase, the pen needles market is segmented into retail and non-retail.
- On the basis of end user, the pen needles market is segmented into hospitals, clinics, over the counter (OTC), home healthcare, and others.
Pen Needles Market Country Level Analysis
The pen needles market is analysed, and market size insights and trends are provided by country, type, length, usability, application, therapy, mode of purchase, and end user as referenced above.
The countries covered in the pen needles market report are U.S., Canada and Mexico in North America, Peru, Brazil, Argentina, and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Hungary, Lithuania, Austria, Ireland, Norway, Poland, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Vietnam, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), South Africa, Saudi Arabia, U.A.E, Kuwait, Israel, Egypt, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Europe dominates the market owing to the prevalence of advanced healthcare infrastructure and rising prevalence of the target disease. Asia-Pacific is projected to score highest growth rate and exhibit the highest CAGR for the forecast period. This is because of the rising expenditure to develop healthcare infrastructure, ever-rising diabetic population, and rising awareness about the availability treatment options.
The country section of the 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.
Patient Epidemiology Analysis
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 analysed to create a more robust and cohort multivariate statistical model for forecasting the market in the growth period.
Competitive Landscape and 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 to the pen needles market.
The major players covered in the pen needles market report are Novo Nordisk A/S, YPSOMED, B. Braun Melsungen AG, HTL-STREFA S.A., Terumo Corporation, BD, Owen Mumford Inc., UltiMed, Inc., Artsana S.p.A., Trividia Health, Inc, STAT Medical Devices, Simple Diagnostics, Pietrasanta Pharma SpA, A. Menarini Diagnostics srl, Henso Medical (Hangzhou) Co., Ltd., Shanghai Beipu Medical Co., Ltd, Zhejiang Kindly Medical Devices Co., Ltd., ARKRAY, Inc., AstraZeneca and GlaxoSmithKline plc 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.